Medical Office Building with Two
For Sale
$830,000
3415 N Loy Lake Road, Sherman, TX 75090
CommercialSale, Sherman, TX
Property Size3,400 SF
Lot Size0.47 Acres
Price / SF$244.12
Days on Market101
Property Features for 3415 N Loy Lake Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
C-1 Commercial
Parking features
Parking Lot
Security features
Security
Subdivision
G-0763 MCANAIR J B, ACRES .47
Directions
From US Highway-75 northbound, take exit 64 and turn right onto Pecan Grove Road. The property will be on the SE corner of Pecan Grove Road and Loy Lake Road.
Standard status
Active
APN
154695
Lot size
0.47 Acres
Taxes and HOA fees
Tax Description
G-0763 MCANAIR J B, ACRES .47
Tax Annual Amount
12721
Legal Description
G-0763 MCANAIR J B, ACRES .47
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1984
Floors in Building
1
Number of units
2
Flooring type
Linoleum, Carpet, Tile
Building materials
Brick
Roof type
Concrete, Tile
Listing Agency:
Bertholf Commercial Real Estate
Listed By:
Terrin Bertholf
(903) 267-1573
Added: Jul 12
Changed: Sep 12
Last Checked: Oct 20 at 10:06AM
MLS# 21175449
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1984, this brick medical office property at 3415 N Loy Lake Road is configured for clinical operations and can support separate occupancy arrangements. The building contains 10 exam rooms, multiple plumbed closets, common areas, and storage. Separate metering serves two suites, while four-zone HVAC and an exterior mechanical room simplify system access. Non-load-bearing walls across most of the west suite provide reconfiguration flexibility, and the east side includes a clear-span attic designed for a potential second floor.
The 0.47-acre site includes a repaved parking lot completed in 2024 with 23 spaces. Additional land to the east was originally planned for expansion. Public water and sewer serve the property, and established healthcare providers and new medical development surround the site in Sherman’s medical corridor.
The 0.47-acre site includes a repaved parking lot completed in 2024 with 23 spaces. Additional land to the east was originally planned for expansion. Public water and sewer serve the property, and established healthcare providers and new medical development surround the site in Sherman’s medical corridor.
Key Highlights
- 3,400 SF office building with 10 exam rooms
- Separate metering for two suites
- Four‑zone HVAC with exterior mechanical room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,872
Cap Rate
6.85%
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 6.85%
Second Best
Healthcare Medical
$738.6K
$646.3K – $861.7K
NOI $51,702 @ 7.0% cap · market cap 6.23%
Theoretical Best
Hotel Hospitality
$1.74M
$1.53M – $2.03M
NOI $122,094 @ 7.0% cap · market cap 14.71%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
634
Businesses Nearby
Under-served
Demand for This Use
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Petco Vaccination Clinic — 4184 Town Center Dr, Sherman, TX 75092
Frequently Asked Questions
What type of property is this?
Medical Office Space - Configured for clinical use with exam rooms, plumbed closets, flexible interiors, and dedicated suite metering.
Where is this medical office space located?
The property is located at 3415 N Loy Lake Road Sherman, TX.
What is the asking price?
The asking price for this property is $830,000.
What are key features of this property?
This property features: 3,400 SF office building with 10 exam rooms; Separate metering for two suites; Four‑zone HVAC with exterior mechanical room
