200 Evergreen St, Unit 246 Sherman, TX 75090-5056
- Commercial real estate
- 3,458 SF
- 2.60 lot acres
Current Use by Public Records
- John Pulliam MD / Physician
- Medical Business Solutions / Medical Billing Service
- John Hughes Pulliam / Physician
- Pioneer Medical Associates / Medical Clinic
Property Details for 200 Evergreen St
- Year built
- 2005
- Lot size
- 2.60 lot acres
- Property size
- 3,458 SF
- Property type
- Commercial real estate
- APN
- S030 2360002
- APU
- S0302360002
Description
This exceptional investment opportunity presents the Evergreen Office Plaza, a multi-tenant office complex strategically located in Sherman, Texas. The property comprises six freestanding buildings totaling 23,337 square feet situated on a 2.6-acre lot with ample concrete parking. Constructed between 2002 and 2006, with renovations completed in 2006, the buildings feature metal roofs and currently boast 65.5% occupancy. The diverse tenant mix includes medical and general office businesses. Benefitting from a high-traffic location on East Evergreen Street, just off US Route 75 (North Sam Rayburn Freeway), the plaza enjoys daily traffic counts exceeding 75,000 vehicles. Additional access is provided via Vernon Holland Memorial Drive. The property's strategic position is further enhanced by its proximity to numerous national and regional retailers, including major brands such as Kroger, Walgreens, and Lowe's, among many others. Sherman, the county seat of Grayson County, is a principal city in the Sherman-Denison Metropolitan Statistical Area, conveniently located approximately 65 miles northeast of Dallas. The city is served by major highways, including US 75 and US 82, as well as three Texas State Highways, providing excellent accessibility. Importantly, this property is located within a designated U.S. Treasury Opportunity Zone, offering significant tax advantages to investors, including potential tax deferrals and discounts. This presents a compelling opportunity for investors seeking a stable, multi-tenant asset in a thriving location with substantial tax benefits.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $445,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $570,000
- 6.5%
- $525,000
- 7%
- $490,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $510,000
Market price range: $183k - $511k
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Location Insight
- Map
- Local Demand
- City
- Sherman
- County
- Grayson
- State
- Texas
- Longitude
- -96.6103
- Latitude
- 33.6473
- CBSA code
- 43300
- CBSA name
- SHERMAN-DENISON, TX METROPOLITAN STATISTICAL AREA
