2500 Swamy Dr Sherman, TX 75090
- Office Properties & Spaces
- 7,728 SF
- 1.40 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 2500 Swamy Dr
- Year built
- 2019
- Lot size
- 1.40 lot acres
- Property size
- 7,728 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
This exceptional investment opportunity presents a 7,728-square-foot Class A medical office building in Sherman, Texas. The property, constructed in 2019, is situated on a 1.4-acre lot at 2500 Swamy Dr, 75090, and enjoys a prime location adjacent to Texoma Medical Center, a 414-bed acute care hospital. Currently 100% occupied under a 15-year net lease (NNN) with American Renal Associates (ARA), a subsidiary of Innovative Renal Care (IRC), a national dialysis services provider with over 200 clinics. The lease commenced September 12, 2020, and expires September 30, 2035, offering a remaining lease term of approximately 10.9 years. The lease includes 2% annual rent escalations and two 5-year options to renew at fair market value. ARA invested approximately $1 million in build-out, creating a state-of-the-art facility featuring 12 dialysis stations and one isolation room, with capacity for expansion. The property boasts a strong 6.50% cap rate and a net operating income (NOI) of $188,213, with an asking price of $2,900,000 ($375.26/SF). This offering provides a secure, long-term investment in a rapidly growing market, benefiting from significant recent investments in the Sherman area by companies like Texas Instruments and Globitech, and the absence of state income tax in Texas.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Sherman
- County
- Grayson
- State
- Texas
- Longitude
- -96.5876
- Latitude
- 33.7062
