This exceptional retail opportunity is located in the thriving Sherman Crossroads Shopping Center, situated at the southwest corner of heavily trafficked Hwy 75 and Hwy 82 in Sherman, Texas. The property boasts a single-story, 37,500 square foot building with a newly installed roof and is under new ownership. Currently, there are three available spaces ranging from 1,530 to 2,861 square feet, with a total of 2,200 square feet currently vacant. One space, Unit #360 (2200 sq ft), is divisible into two units. The center benefits from a large parking lot and high visibility signage. This prime location is surrounded by established businesses including Starbucks, Papa John's, Lone Star Food Store-Valero, and Ashley Furniture, ensuring high foot traffic and brand recognition. The area also boasts significant daily traffic counts: Hwy 75 sees 63,406 vehicles per day, and Hwy 82 sees 28,404. Existing tenants create a diverse mix of businesses catering to the local community, including a jeweler, daiquiri bar, vape shop, liquor store, beauty salon, sushi restaurant, buffet, and more. The property's strategic location is further enhanced by its proximity to a Walmart across Hwy 82 and the Sherman Town Center (half a mile down Hwy 75), home to major retailers like Target, T.J. Maxx, Dollar Tree, Chick-fil-A, Panera Bread, Red Lobster, and Cinemark. Four hotels are located directly behind the building, providing a substantial customer base. The property is zoned commercial and sits on 5.9 acres of land in Grayson County. Lease price is negotiable and includes NNN charges.
Property Features for 2916 Us Highway 75
General Information
Property type
Restaurants
Lease Type
Gross Lease
RSF (Rentable sq. ft)
37,500 SF
Total Rate
78093.75
Building Details
Buildings
1
Stories
1
Unit(s) available at that property
Space
Available Space 3
Size
1,530 SF
Rate per SF
$24
Space
Available Space 2
Size
2,861 SF
Rate per SF
$24
Space
Available Space 1
Size
2,200 SF
Rate per SF
$24
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Listing Contact
Ceci Henson
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Property Insight Report
HighLights
1‑story, 37,500 SF retail building with 2,200 SF of vacant space available in multiple units ranging from 1,530 SF to 2,861 SF.
Recently renovated roof and under new ownership.
High‑visibility location at the southwest corner of Hwy 75 and Hwy 82 in Sherman, TX, with excellent street exposure.
Located in the Sherman Crossroads Shopping Center with strong co‑tenancy including Starbucks, Papa Johns, and Ashley Furniture.
Situated on 5.9 acres of land in Grayson County with ample parking.
The property is located at 2916 Us Highway 75 Sherman, TX.
What is the lease rate?
The lease rate is $24 SF/Yr.
What are key features of this property?
This property features: 1-story, 37,500 SF retail building with 2,200 SF of vacant space available in multiple units ranging from 1,530 SF to 2,861 SF.; Recently renovated roof and under new ownership.; High-visibility location at the southwest corner of Hwy 75 and Hwy 82 in Sherman, TX, with excellent street exposure.
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2916 Us Highway 75 Sherman, TX 75090
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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
2916 Us Highway 75 Sherman, TX 75090
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2916 Us Highway 75, Sherman, TX
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2916 Us Highway 75, Sherman, TX
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Listing Contact
Ceci Henson
Real Estate License ID: TX 0773751
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