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    Medical Office Building Title is generated by Realmo AI

    500 E Peyton Street, Sherman, TX 75090

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    For Sale
    $1,700,000

    COMMERCIAL - Sherman, TX

    Property size:
    9,886 SF
    Lot size:
    1.66 Acres
    Price / SF:
    $171/SF
    Added:
    Jun 1, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 3 at 12:06 am

    Property Features for 500 E Peyton Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    156614
    Lot size
    1.66 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    1990
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Vinyl, Tile
    Building materials
    Brick
    Roof type
    Shingle

    We can help!

    Listing Contact
    Krista Landon

    Listing agent Krista Landon License #0788947

    Listing office DHS Realty PLANO, TX

    Listing date Jun 1, 2026

    MLS# 21286076

    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

    • 9,886 SF medical or professional office building at 500 E Peyton Street in Sherman, TX
    • Established office setting designed to accommodate medical, healthcare, wellness, or professional users
    • Built in 1990 with brick construction and a shingle roof
    • Utilities include public water and public sewer
    • Central heating and central air with electric heating and electric cooling
    • On‑site parking with a parking lot and indoor flooring of tile and vinyl

    Overview

    This for-sale medical office building is designed for healthcare and professional use, with approximately 9,886 square feet of functional working space. The property offers a versatile floor plan that can support multiple practitioners, specialty services, administrative offices, patient care areas, and related support functions, making it suitable for both operating space and ongoing professional use.

    Located at 500 E Peyton Street in Sherman, Texas, the building is positioned for convenient access and strong visibility. Its established professional setting and practical layout are intended to serve patients, staff, and visitors with an easy-to-navigate day-to-day experience, supported by access to major thoroughfares.

    The building can fit a range of buyers, including owner-users looking to expand or relocate within a healthcare-oriented environment, as well as medical groups seeking an operational space with flexibility. Investors may also find the property appealing given its purpose-built medical/professional functionality and ability to accommodate multiple areas of care and administration.
    Property Profile Location Intelligence

    Current Use by Public Records

    Advanced Laboratory Services Laboratory New Horizons Pain ... Physician Kenneth Anderson MD Physician Jennifer Graxiola Physician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Animal Health Clinic — 1605 N Travis St, Sherman, TX 75092

    Location Insight

    • Map
    • Local Demand
    City
    Sherman
    County
    Grayson
    State
    Texas
    Longitude
    -96.60872
    Latitude
    33.657964

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    FAQs

    What type of property is this?
    Medical Office Space - Well-positioned medical office building offering functional space and established healthcare-ready layout in Sherman, Texas.
    Where is this medical office space located?
    The property is located at 500 E Peyton Street Sherman, TX.
    What is the asking price?
    The asking price for this property is $1,700,000.
    What are key features of this property?
    This property features: 9,886 SF medical or professional office building at 500 E Peyton Street in Sherman, TX; Established office setting designed to accommodate medical, healthcare, wellness, or professional users; Built in 1990 with brick construction and a shingle roof
    (972) 979-8413
    We can help!
    Listing Contact
    Krista Landon
    Real Estate License ID: 0788947
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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.

    More about this property
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