Historic Mixed-Use
For Sale
$649,000
Pending
511 Travis St, Sherman, TX 75090
C-1 zoning supports a range of stated commercial use categories.
Property Size3,422 SF
Days on Market113
Property Features for 511 Travis St
General Information
Standard status
Pending
Size
3,422 SF
Total Parking Spaces
2
Property subtype
Commercial
Zoning
C-1
Building Details
Year Built
1900
Buildings
2
Listing Agency:
MKT Realty Co
Listed By:
Spencer McDuffy · License #0709706
(214) 218-9190
Source:
Northtexashomeguide
Added: Jun 24
Changed: Oct 1
Last Checked: Oct 5 at 6:53PM
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 MKT Realty Co
Investment Insights
Based on property information with market context.
Constructed in 1900, this Sherman property combines period architectural elements with a flexible mixed-use configuration. The residence includes 4 bedrooms, 3 full baths, and 2 half baths, along with two primary suites, a finished attic, and a basement. A covered front porch, columns, stained glass, wood detailing, and high ceilings contribute to the building’s historic character.
A separate carriage house includes a two-car garage and can accommodate uses such as an office, workshop, studio, guest quarters, or storage. The property is identified as C-1, Retail Business District, by the City of Sherman. Stated potential uses include professional offices, medical and dental clinics, wellness businesses, bakeries, florists, specialty food stores, restaurants, boutiques, and other permitted retail or service activities. Buyers should independently confirm zoning, permitted uses, grandfathered residential status, and intended use with the city.
A separate carriage house includes a two-car garage and can accommodate uses such as an office, workshop, studio, guest quarters, or storage. The property is identified as C-1, Retail Business District, by the City of Sherman. Stated potential uses include professional offices, medical and dental clinics, wellness businesses, bakeries, florists, specialty food stores, restaurants, boutiques, and other permitted retail or service activities. Buyers should independently confirm zoning, permitted uses, grandfathered residential status, and intended use with the city.
Key Highlights
- Built in 1900 with columns, stained glass, detailed woodwork, and soaring ceilings
- 4 bedrooms, 3 full baths, and 2 half baths
- Two primary suites, finished attic, and basement storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,878
Cap Rate
5.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$677,560
$677.6K
Cap Rate 7%
$483,971
$484.0K
Cap Rate 9%
$376,422
$376.4K
Market Conditions
NOI Build-Up for 3,422 SF
Gross rent
$61.6K $18.00/SF
− Vacancy
−$7.4K −$2.16/SF
EGI
$54.2K $15.84/SF
− OpEx
−$20.3K −$5.94/SF
NOI
$33.9K $9.90/SF
Area
Grayson County, TX
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$677,560
Cap Rate 7%
$483,971
Cap Rate 9%
$376,422
Alternative Uses
Best Use
Mixed Use
$484.0K
$423.5K – $564.6K
NOI $33,878 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$1.76M
$1.54M – $2.05M
NOI $122,884 @ 7.0% cap · market cap 18.93%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,064
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - C-1 zoning supports a range of stated commercial use categories.
Where is this mixed-use property located?
The property is located at 511 Travis St Sherman, TX.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Built in 1900 with columns, stained glass, detailed woodwork, and soaring ceilings; 4 bedrooms, 3 full baths, and 2 half baths; Two primary suites, finished attic, and basement storage
