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    Sherman Ranch Estate on 20 Acres Title is generated by Realmo AI

    7158 Luella Road, Sherman, TX 75090

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    Claim this Listing
    New
    For Sale
    $1,700,000

    Traditional, Farm/Ranch - Sherman, TX

    Type:Farm
    Property size:
    2,424 SF
    Lot size:
    19.87 Acres
    Price / SF:
    $701/SF
    Added:
    May 27, 2026
    Days on Market:
    5
    Last Refresh:
    May 31 at 4:06 pm

    Property Features for 7158 Luella Road

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Bedrooms
    4
    Bathrooms
    3
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Parking features
    Carport
    Interior features
    Decorative Lighting, High Speed Internet Available
    Fireplace
    1
    Appliances
    Dishwasher, Garbage Disposer, Range, Washer
    Standard status
    Active
    APN
    129226
    Size
    2,424 SF
    Lot size
    19.87 Acres

    Utilities

    Heating system
    Central, Electric (Heating), Fireplace(s)
    Cooling system
    Ceiling Fan(s), Electric

    Building Details

    Year built
    2008
    Floors in Building
    1
    Flooring type
    Carpet, Tile, Tile - Ceramic
    Building materials
    Brick, Stone
    Roof type
    Composition
    Architectural style
    New Traditional

    We can help!

    Listing Contact
    Krishna Madhireddy

    Listing agent Krishna Madhireddy License #0698555

    Listing office Krishna Madhireddy, Broker 2408 Heather Glen Dr, Plano, TX

    Listing date May 27, 2026

    MLS# 21280668 Listing URL

    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

    • 20‑acre ranch estate in rapidly growing Sherman market, near Highway 75 and Texas Instruments development.
    • Equipped 60x64 barn with electricity, water, wash rack, feed area, holding pens, riding arena, and fenced pastures, ideal for equestrian or agricultural use.
    • Currently leased and generating rental income, offering immediate cash flow potential.
    • Custom‑built 4‑bedroom home with open‑concept living, custom cabinetry, and panoramic sunset views.
    • Flat, usable land with AG exemption status, offering flexibility for building, expansion, or investment.
    • Includes above‑ground pool, fire pit, updated HVAC, and tankless water heater.

    Overview

    This luxury ranch estate is situated on nearly 20 cross-fenced acres in Sherman, Texas, near Highway 75, downtown Sherman, and the expanding Texas Instruments development corridor. The custom-built brick home features approximately 2,424 square feet of living space, including 4 bedrooms and 2.5 bathrooms. The interior features an open-concept living area, custom hickory and pecan cabinetry, cedar trim, historic tin accents, a formal dining area, a spacious kitchen island, and a fireplace. The property offers panoramic sunset views. Designed for lifestyle and functionality, the property includes a large deck, above-ground pool, fire pit, covered parking, and maintained grounds. A 60x64 barn is equipped with electricity, water, a wash rack, a feed area, holding pens, a riding arena, and fenced pastures, suitable for equestrian, cattle, agricultural, or recreational use. The flat, usable land has no water bodies and is ready for building, expansion, or creating an event venue, additional structures, or an investment project. The property has AG exemption status. Currently leased and generating rental income, this turnkey property offers opportunities for investors, ranch operators, or buyers seeking a rural retreat with income potential. Additional features include high-speed internet, updated HVAC, and a tankless water heater. The property is positioned for long-term appreciation and future development upside.
    Property Profile Location Intelligence

    Current Use by Public Records

    Ranches

    Suggested Use

    Auto Parts Store HVAC Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Sherman
    County
    Grayson
    State
    Texas
    Longitude
    -96.545708
    Latitude
    33.52091

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    FAQs

    What type of property is this?
    Ranch - Luxury ranch with income potential near Highway 75.
    Where is this ranch located?
    The property is located at 7158 Luella Road 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: 20‑acre ranch estate in rapidly growing Sherman market, near Highway 75 and Texas Instruments development.; Equipped 60x64 barn with electricity, water, wash rack, feed area, holding pens, riding arena, and fenced pastures, ideal for equestrian or agricultural use.; Currently leased and generating rental income, offering immediate cash flow potential.
    (708) 288-2337
    We can help!
    Listing Contact
    Krishna Madhireddy
    Real Estate License ID: 0698555
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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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