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    Archer Drive, Sherman, TX 75092

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    For Sale
    $398,500

    LAND - Sherman, TX

    Lot size:
    2.42 Acres
    Added:
    Jan 23, 2026
    Days on Market:
    131
    Last Refresh:
    Jun 3 at 6:06 am

    Property Features for Archer Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Cleared
    Standard status
    Active
    APN
    162790
    Lot size
    2.42 Acres

    Taxes and HOA fees

    Tax Description
    WESTWOOD 6TH ADDN, BLOCK 5, LOT ALL, ACRES 2.
    Tax Annual Amount
    4556

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public
    Water front features
    Creek

    We can help!

    Listing Contact
    Shem Moruri

    Listing agent Shem Moruri License #0773376

    Listing office EXP REALTY Austin, TX

    Listing date Jan 23, 2026

    MLS# 21102385 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

    • 2.422‑acre tract in Sherman with Waterfront feature: creek
    • Easy access from Hwy 56 and Hwy 75
    • Public water available
    • Public sewer available

    Overview

    This listing presents a 2.42-acre commercial land tract in Sherman, Texas, positioned for a new development. The property’s value is centered on its scale and straightforward access from major roadways, supporting a range of commercial project concepts.

    The site is described as being in the heart of Sherman with visibility and growth potential, located within the Hwy 56 area and close to Hwy 75. The property is also noted as being near downtown Sherman and a shopping center, which may appeal to users seeking an established commercial environment. Access from Hwy 56 and Hwy 75 is highlighted as a key advantage for driving convenience and market reach.

    For investors and developers, this acreage can be an attractive option when seeking a well-situated parcel in a market with significant commercial and industrial activity. Its location and access profile make it a practical candidate for planning and due diligence for a next-step commercial project.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Sherman
    County
    Grayson
    State
    Texas
    Longitude
    -96.629444
    Latitude
    33.632245

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    FAQs

    What type of property is this?
    Commercial land - Well-located acreage off Hwy 56 near Hwy 75, offering strong visibility for a future commercial or industrial project.
    Where is this commercial land located?
    The property is located at Archer Drive Sherman, TX.
    What is the asking price?
    The asking price for this property is $398,500.
    What are key features of this property?
    This property features: 2.422‑acre tract in Sherman with Waterfront feature: creek; Easy access from Hwy 56 and Hwy 75; Public water available
    (888) 519-7431
    We can help!
    Listing Contact
    Shem Moruri
    Real Estate License ID: 0773376
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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
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