Sherman Medical Office Building For
For Sale
Contact for pricing
3415 N Loy Lake Rd, Sherman, TX 75090
3,400 SF medical office building in Sherman's medical corridor.
Property Size3,400 SF
Price / SF$250
Days on Market242
Property Features for 3415 N Loy Lake Rd
General Information
Standard status
Active
Size
3,400 SF
Class
B
Property subtype
Office
Zoning
C-1 (Commercial)
Investment Type
Redevelopment
Building Details
Year Built
1984
Buildings
1
Stories
1
Units
2
Listing Agency:
Bertholf Commercial Real Estate
Listed By:
Terrin Bertholf · License #9014873
(903) 267-1573
Source:
Crexi
Added: Feb 14
Changed: Aug 21
Last Checked: Aug 10 at 8:27AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bertholf Commercial Real Estate
Investment Insights
Based on property information with market context.
This 3,400 SF office building, constructed in 1984, is situated in Sherman’s expanding medical corridor, providing convenient access to nearby healthcare providers and major roads. Currently configured for a single medical practice, the property is separately metered for two suites. The layout includes 10 exam rooms, multiple plumbed closets, several common areas, and ample storage space. A four-zone HVAC system and an external mechanical room facilitate servicing. The majority of the west suite walls are non-weight bearing, allowing for flexible reconfiguration, while the east side features a clear-span attic designed for a potential second floor. The parking lot, repaved in 2024, offers 23 spaces. Additional land to the east was originally planned for expansion. The site is suitable for an owner-occupied medical practice, specialty clinic, or multi-tenant office configuration. Surrounded by established healthcare providers and new medical developments, this property presents a strong option for an owner-user or multi-tenant investment.
Key Highlights
- Prime location in Sherman's growing medical corridor with excellent access to healthcare providers and major roadways.
- Currently configured for a medical practice with 10 exam rooms and multiple plumbed closets, suitable for owner‑occupancy.
- Separately metered for two suites with flexible reconfiguration options.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,872
Cap Rate
6.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,137,440
$1.1M
Cap Rate 7%
$812,457
$812.5K
Cap Rate 9%
$631,911
$631.9K
Market Conditions
NOI Build-Up for 3,400 SF
Gross rent
$104.4K $30.72/SF
− Vacancy
−$28.6K −$8.42/SF
EGI
$75.8K $22.30/SF
− OpEx
−$19.0K −$5.58/SF
NOI
$56.9K $16.73/SF
Area
Grayson County, TX
Vacancy
27.40%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,137,440
Cap Rate 7%
$812,457
Cap Rate 9%
$631,911
Alternative Uses
Best Use
Office B
$812.5K
$710.9K – $947.9K
NOI $56,872 @ 7.0% cap · market cap 6.69%
Second Best
Healthcare Medical
$738.6K
$646.3K – $861.7K
NOI $51,702 @ 7.0% cap · market cap 6.08%
Theoretical Best
Hotel Hospitality
$1.74M
$1.53M – $2.03M
NOI $122,094 @ 7.0% cap · market cap 14.36%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
634
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75090, TX
25,002
Population
9,602
Households
2.6
Avg Household Size
35
Median Age
15%
College-Educated
84%
High-School Grad
78.5 sq mi
ZIP Area
318
Density / Sq Mi
$58,586
Median Household Income
$36,230
Median Earnings
$1,111
Median Rent
$163,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Medical Office Space - 3,400 SF medical office building in Sherman's medical corridor.
Where is this medical office space located?
The property is located at 3415 N Loy Lake Rd Sherman, TX.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Prime location in Sherman's growing medical corridor with excellent access to healthcare providers and major roadways.; Currently configured for a medical practice with **10 exam rooms and multiple plumbed closets**, suitable for owner‑occupancy.; Separately metered for two suites with flexible reconfiguration options.
