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    Updated Medical Office Condo Title is generated by Realmo AI

    425 N Highland Avenue, Sherman, TX 75092

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    For Sale
    $290,000

    SINGLE_FAMILY - Sherman, TX

    Type:Office
    Lot size:
    1.60 Acres
    Added:
    Jul 22, 2025
    Days on Market:
    320
    Last Refresh:
    Jun 6 at 1:06 pm

    Property Features for 425 N Highland Avenue

    General Information

    Property type
    Residential
    Property subtype
    Office
    Standard status
    Active
    APN
    162340
    Lot size
    1.60 Acres

    Taxes and HOA fees

    Tax Description
    GREENMOUNT 1ST ADDN, BLOCK 18, LOT 1-6 8 10 1
    Tax Annual Amount
    4972

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1986
    Floors in Building
    2
    Number of units
    1
    Flooring type
    Vinyl
    Building materials
    Brick

    We can help!

    Listing Contact
    Will McDougal

    Listing agent Will McDougal License #0811267

    Listing office Bluestone Partners, LLC Sherman, TX

    Listing date Jul 22, 2025

    MLS# 21007359

    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.

    HighLights

    • Recently updated medical office condominium in Sherman’s medical district
    • Directly next to Wilson N. Jones Medical Center
    • Spacious office layout with large waiting room, kitchen/breakroom, and multiple large offices
    • 1986 construction with brick exterior; vinyl flooring
    • Central heating with central air
    • Public water and public sewer; ample on‑site parking for staff and patients

    Overview

    Bluestone Partners is pleased to present an updated medical office condominium in Sherman’s medical district. This purchase opportunity is designed for physicians who want to own their practice space, with essential medical infrastructure and a layout that supports patient flow and day-to-day operations. Inside, you’ll find a large waiting room, a kitchen and breakroom, and multiple large offices.

    Conveniently located directly next to Wilson N. Jones Medical Center, the setting offers straightforward access for patients and staff. The property also includes ample on-site parking to support visits throughout the day, which can be a major practical advantage for medical practices.

    With its updated condition, dedicated waiting area, and multiple exam/office-size rooms, this condo is well suited for a range of medical specialties. The combination of ownership, convenient medical-adjacent positioning, and ample parking makes it a strong fit for doctors seeking a functional, purpose-ready office environment rather than leasing a shared or less tailored space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Healthy Heart Cardiology ... Medical Clinic Alain Zareh Tocatjian Physician Glenn Thomas Young Physician Dr. Alain Z. ... Physician Dr. Sainath Gaddam Physician

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Brakebill Veterinary Hospital — 825 N Crockett St, Sherman, TX 75090
    • Animal Health Clinic — 1605 N Travis St, Sherman, TX 75092
    • Brakebill Veterinary Hospital: Schwind Jennifer DVM — 825 N Crockett St, Sherman, TX 75090

    Location Insight

    • Map
    • Local Demand
    City
    Sherman
    County
    Grayson
    State
    Texas
    Longitude
    -96.623234
    Latitude
    33.637602

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    FAQs

    What type of property is this?
    Medical Office Space - Recently updated medical condo with large waiting space, multiple offices, and on-site parking for staff and patients.
    Where is this medical office space located?
    The property is located at 425 N Highland Avenue Sherman, TX.
    What is the asking price?
    The asking price for this property is $290,000.
    What are key features of this property?
    This property features: Recently updated medical office condominium in Sherman’s medical district; Directly next to Wilson N. Jones Medical Center; Spacious office layout with large waiting room, kitchen/breakroom, and multiple large offices
    (903) 813-1415
    We can help!
    Listing Contact
    Will McDougal
    Real Estate License ID: 0811267
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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