Sherman Medical Office Building For
3415 N Loy Lake Road Sherman, TX 75090
3415 N Loy Lake Road, Sherman, TX, 75090
$850,000
For Sale
$850,000
3,400 SF medical office building in growing medical corridor.
Property Size3,400 SF
Price / SF$250
Days on Market91
Property Features for 3415 N Loy Lake Road
General Information
- Standard status
- Active
- Size
- 3,400 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1984
Listing agency
Bertholf Commercial Real Estate
(903) 267-1573
Listed by
Terrin Bertholf · License #0649544
(903) 267-1573
Source
Signaturere
Added: Apr 22 Updated: Jul 10 at 3:56PM Checked: Jul 17 at 9:28AM
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 square foot office building, constructed in 1984, is situated in Sherman's expanding medical corridor, offering convenient access to nearby healthcare providers and major roads. Currently configured for a single medical practice, the property is equipped with separate meters for two suites. The interior features 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 west suite's walls are primarily non-weight bearing, allowing for flexible reconfiguration, while the east side includes a clear-span attic designed to accommodate a potential second floor. The parking lot, repaved in 2024, provides 23 spaces. Additional land to the east was originally designated for expansion. The site is suitable for an owner-occupied medical practice, specialty clinic, or multi-tenant office arrangement. The property's location is surrounded by established healthcare providers and new medical developments, making it a viable 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.
- Ideal for owner‑occupied medical practice, specialty clinic, or multi‑tenant office configuration.
- Separately metered for two suites, offering flexibility for single or multi‑tenant use.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $104.4k | $30.72 |
| − Vacancy | −$28.6k | −$8.42 |
| EGI | $75.8k | $22.30 |
| − OpEx | −$19.0k | −$5.58 |
| NOI | $56.9k | $16.73 |
3,400 SF · lease $30.72/SF/yr · vacancy 27.40% · expense 25.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Tadi Ciszak, MD
Physician
Premier Foot & Ankle
Physician
North Texas Foot ...
Medical Clinic
Salcher Christina M ...
Physician
Mohammad-Asad Ilahi
Physician
Similar For Sale Nearby
Similar Off Market Nearby
- Petco Vaccination Clinic — 4184 Town Center Dr, Sherman, TX 75092
FAQs
What type of property is this?
Medical Office Space - 3,400 SF medical office building in growing medical corridor.
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 $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.; Ideal for owner‑occupied medical practice, specialty clinic, or multi‑tenant office configuration.; Separately metered for two suites, offering flexibility for single or multi‑tenant use.
