Flex Building with Multiple
For Sale
$1,500,000
920 Heritage Pkwy, Sherman, TX 75092
Classroom layout includes a kitchen, restrooms, and separate north-side access.
Property Size8,000 SF
Lot Size1.37 Acres
Price / SF$187.50
Days on Market114
Property Features for 920 Heritage Pkwy
General Information
Standard status
Active
Size
8,000 SF
Lot size
1.37 Acres
Property subtype
Commercial
Site & Location
Road Access
Yes
Utilities to Site
Yes
Building Details
Year Built
1998
Building Size
8,000 SF
Construction
metal frame
Listing Agency:
Bertholf Commercial Real Estate
Listed By:
Evan Ramsey · License #845775-SA
(903) 267-1573
Source:
Easttxhomesforsale
Added: Jun 23
Changed: Oct 1
Last Checked: Oct 12 at 7:55PM
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.
The 8,000-square-foot flex building at 920 Heritage Parkway was constructed in 1998 and occupies 1.37 acres. Its existing layout includes individual classrooms, a working kitchen, restrooms, and a second entrance on the north side. Metal-frame construction and a slab foundation support a range of potential commercial configurations, including office, educational, institutional, storage, workshop, and warehouse applications.
The property has frontage along FM 1417 in Sherman and includes full city water and sewer service. On-site parking and a separate point of entry add practical functionality for operations requiring distinct access areas.
The property has frontage along FM 1417 in Sherman and includes full city water and sewer service. On-site parking and a separate point of entry add practical functionality for operations requiring distinct access areas.
Key Highlights
- 8,000‑square‑foot building on 1.37 acres
- Frontage along FM 1417 at 920 Heritage Parkway, Sherman, TX 75092
- Individual classrooms, working kitchen, and restrooms in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,605
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,012,100
$1.0M
Cap Rate 7%
$722,929
$722.9K
Cap Rate 9%
$562,278
$562.3K
Market Conditions
NOI Build-Up for 8,000 SF
Gross rent
$65.3K $8.16/SF
− Vacancy
−$5.7K −$0.72/SF
EGI
$59.5K $7.44/SF
− OpEx
−$8.9K −$1.12/SF
NOI
$50.6K $6.33/SF
Area
Grayson County, TX
Vacancy
8.80%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,012,100
Cap Rate 7%
$722,929
Cap Rate 9%
$562,278
Alternative Uses
Best Use
Warehouse
$722.9K
$632.6K – $843.4K
NOI $50,605 @ 7.0% cap · market cap 3.37%
Second Best
Industrial
$595.4K
$520.9K – $694.6K
NOI $41,675 @ 7.0% cap · market cap 2.78%
Theoretical Best
Hotel Hospitality
$4.10M
$3.59M – $4.79M
NOI $287,280 @ 7.0% cap · market cap 19.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
156
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75092, TX
27,186
Population
13,117
Households
2.1
Avg Household Size
39
Median Age
30%
College-Educated
94%
High-School Grad
113.9 sq mi
ZIP Area
239
Density / Sq Mi
$67,160
Median Household Income
$41,683
Median Earnings
$1,205
Median Rent
$260,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
- Feast On This! Catering — 1403 W Houston St, Sherman, TX 75092
Frequently Asked Questions
What type of property is this?
Flex space - Classroom layout includes a kitchen, restrooms, and separate north-side access.
Where is this flex space located?
The property is located at 920 Heritage Pkwy Sherman, TX.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 8,000‑square‑foot building on 1.37 acres; Frontage along FM 1417 at 920 Heritage Parkway, Sherman, TX 75092; Individual classrooms, working kitchen, and restrooms in place
