Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3606 Town Center Dr Sherman, TX 75092

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Shopping, dining, and entertainment destination in Sherman, Texas.

    Type:Retail, Restaurant
    Added:
    Jul 9, 2024
    Days on Market:
    655
    Last Refresh:
    Mar 17 at 1:21 pm

    Property Features for 3606 Town Center Dr

    General Information

    Standard status
    Active
    Property subtype
    Retail, Restaurant

    Spaces For Lease

    at 3606 Town Center Dr Contact us

    We can help!

    Listing Contact
    Thomas Glendenning

    Listing agent Thomas Glendenning License #OK

    Listing office SHOP Companies Dallas

    Listing date Jul 9, 2024

    Source Crexi

    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 SHOP Companies Dallas

    Overview

    Sherman Town Center Retail Space

    Sherman Town Center is a shopping, dining, and entertainment destination. This regional shopping center, located in Sherman, Texas, serves Northern Texas and Southern Oklahoma. According to Placer.ai, the center attracts over 7 million visits per year.
    Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

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

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

    Similar Places Nearby

    • Sherman Town Center — 3606 Town Center Dr, Sherman, TX 75092
    • Quick-Tag — Walmart Supercenter, 401 W US Hwy 82, Sherman, TX 75092
    • La Salle Plaza — 1010 La Salle Dr, Sherman, TX 75090
    • Coin Cloud Bitcoin ATM — 3606 N Loy Lake Rd, Sherman, TX 75090

    Location Insight

    • Map
    • Local Demand
    City
    Sherman
    County
    Grayson
    State
    Texas
    Longitude
    -96.6331
    Latitude
    33.6274

    Nearby Similar for Lease

    • $5,000/Mo

      Sherman Industrial Space For Lease

      Versatile commercial space with high visibility and flexible layout.
      20110 W Hwy 56, Sherman, TX 75092
      View Details
    • $1,700/Mo

      Downtown Sherman Creative Office Space

      Unique, flexible creative space in historic downtown Sherman, Texas.
      105 S Travis Street, Sherman, TX 75090
      View Details
    • $5,481/Mo

      Retail Space in Sherman Center

      Retail space available in a high-traffic Sherman shopping center.
      2916 N US HIGHWAY 75, Sherman, TX 75090
      View Details
    • $4,398/Mo

      Sherman Retail Space Available

      Retail space in a high-traffic Sherman shopping center.
      2916 N US HIGHWAY 75, Sherman, TX 75090
      View Details
    • $1,600/Mo

      Downtown Sherman Retail Space Available

      Retail space in downtown Sherman near restaurants and boutiques.
      215 N Travis Street, Sherman, TX 75090
      View Details
    • $3,000/Mo

      Prime Location on US Highway

      High-visibility commercial space in rapidly growing Sherman, Texas.
      400 N Sam Rayburn Freeway, Sherman, TX 75090
      View Details
    • $3,500/Mo

      Sherman Warehouse with Loading Dock

      5,000 sq ft warehouse suitable for various business uses.
      1024 S First Street, Sherman, TX 75090
      View Details
    • $2,600/Mo

      Updated Office Space For Lease

      Centrally located office space with Highway 75 visibility in Sherman.
      1303 N Travis Street, Sherman, TX 75092
      View Details
    • $13,226/Mo

      Retail Space in Sherman Crossroads

      Retail spaces available in high-traffic Sherman shopping center.
      2916 N US HIGHWAY 75, Sherman, TX 75090
      View Details
    • $111,666 SF/Yr

      Retail Space in Sherman Crossroads

      Retail space available in a high-traffic Sherman shopping center.
      2916 N US HIGHWAY 75, Sherman, TX 75090
      View Details
    • $2,000/Mo

      Downtown Sherman Retail/Office Space

      Office or retail space in historic downtown Sherman.
      109 S Travis Street, Sherman, TX 75090
      View Details
    • $12 SF/Yr

      Renovated Industrial and Flex Property

      Versatile Sherman, Texas property with office, showroom, and warehouse space.
      2010-2022a S Crockett Street, Sherman, TX 75090
      View Details

    FAQs

    What type of property is this?
    Shopping center - Shopping, dining, and entertainment destination in Sherman, Texas.
    Where is this shopping center located?
    The property is located at 3606 Town Center Dr Sherman, TX.
    What are key features of this property?
    This property features: Largest regional shopping center between Dallas and Oklahoma City.; Shopping, dining, and entertainment destination.; Draws in over 7 million visits per year (Placer.ai).
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Thomas Glendenning
    Real Estate License ID: OK
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!