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    Agricultural Land with Scenic Pond Title is generated by Realmo AI

    TBD 75+/- AC Pleasant Home & Friendship Road, Sherman, TX 75092

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    For Sale
    $6,750,000

    LAND - Sherman, TX

    Lot size:
    75.00 Acres
    Added:
    Apr 29, 2026
    Days on Market:
    36
    Last Refresh:
    Jun 3 at 10:06 pm

    Property Features for TBD 75+/- AC Pleasant Home & Friendship Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    123339
    Lot size
    75.00 Acres

    Taxes and HOA fees

    Tax Description
    G-0347 DEAVER WM A A-G0347, ACRES 5.0

    We can help!

    Listing Contact
    Cristi Perkins
    Cristi Perkins

    Listing agent Cristi Perkins License #0694836

    Listing office Steve Cook & Co, REALTORS Pottsboro, TX

    Listing date Apr 29, 2026

    MLS# 21213230 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

    • Approximately 75 MOL acres within the Sherman city limits at the intersection of Pleasant Home and Friendship Roads
    • Northwestern corner tract with a scenic pond and gently rolling terrain, currently used for hay production
    • Near Sherman High School and Texoma Christian School
    • Convenient access to Highway 56, FM 1417, and S. Heritage Parkway
    • Minutes from the major intersection of US HWY 75 and Heritage Parkway
    • About 20 minutes from Lake Texoma

    Overview

    This offering presents approximately 75 MOL acres of agricultural land currently used for hay production. The property is characterized by gently rolling terrain and includes a scenic pond, creating a natural, workable configuration for continued farm use or future development planning. The site is also described as a northwestern corner parcel, offering open acreage that can accommodate a range of concepts while remaining anchored to its existing agricultural utility.

    Located within the Sherman city limits at the intersection of Pleasant Home and Friendship Roads, the land benefits from convenient access to major area roadways. The listing notes proximity to Sherman High School and Texoma Christian School, along with access to Highway 56, FM 1417, and S. Heritage Parkway. It is described as minutes from the major intersection of US HWY 75 and Heritage Parkway, supporting easy connectivity to essential routes and nearby services. The property is also stated to be about 20 minutes from Lake Texoma.

    With significant industrial growth in the surrounding area, including companies listed such as Texas Instruments, Coherent, Eaton, Emerson, GlobalWafers, and GloibiTech, the site may appeal to investors evaluating long-term development potential. Development possibilities mentioned include single-family homes, multi-family residences, and mixed-use communities, subject to review and approval by the City of Sherman Planning and Zoning Department. Buyers are advised to confirm permitted uses and development requirements with the city.
    Location Intelligence

    Current Use by Public Records

    Farms

    Map

    City
    Sherman
    County
    Grayson
    State
    Texas
    Longitude
    -96.6627757
    Latitude
    33.6098274

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    FAQs

    What type of property is this?
    Farm - 75 MOL acres in-city with pond and hay production, positioned for future residential or mixed-use development subject to approval.
    Where is this farm located?
    The property is located at TBD 75+/- AC Pleasant Home & Friendship Road Sherman, TX.
    What is the asking price?
    The asking price for this property is $6,750,000.
    What are key features of this property?
    This property features: Approximately 75 MOL acres within the Sherman city limits at the intersection of Pleasant Home and Friendship Roads; Northwestern corner tract with a scenic pond and gently rolling terrain, currently used for hay production; Near Sherman High School and Texoma Christian School
    (903) 786-3355
    We can help!
    Listing Contact
    Cristi Perkins
    Cristi Perkins
    Real Estate License ID: 0694836
    Learn More
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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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