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220 S Elm St 2,400 SF Office Building Sherman, TX 75090 $435,000 ($181.25/SF) 8.19% Cap Rate
INVESTMENT HIGHLIGHTS
- Income-producing property in downtown Sherman
- Main building features a metal roof and newer HVAC system
- Located near Highway 56, with easy access to US-75
- Tenant in place with approximately 3 years remaining on a NNN lease
- Includes two additional detached buildings currently used as offices/classrooms
- Surrounded by Sherman's expanding downtown area, featuring retail, dining, and professional services
EXECUTIVE SUMMARY
This property in downtown Sherman offers a strong opportunity to acquire an income-producing asset. There is a tenant in place with approximately 3 years remaining on their NNN lease. The main building features a metal roof and a recently installed HVAC system, providing reliable infrastructure for continued use. The interior is clean and functional, with plenty of potential for customization or updates if desired. Two additional detached buildings on site have been used as offices or classrooms, offering added versatility for future use. The property is conveniently located near Travis Street, Hwy 56, and US-75, surrounded by Sherman’s growing mix of retail, dining, and professional services.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Office
Building Size
2,400 SF
Building Class
C
Year Built
1993
Price
$435,000
Price Per SF
$181.25
Cap Rate
8.19%
NOI
$35,625
Tenancy
Single
Building Height
1 Story
Typical Floor Size
2,400 SF
Building FAR
0.17
Lot Size
0.33 AC
Opportunity Zone
Yes
Zoning
C-2 (Commercial) - Commercial
Parking
20 Spaces (8.33 Spaces per 1,000 SF Leased)
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PROPERTY TAXES
| Parcel Number | 163577 | Improvements Assessment | $213,474 |
| Land Assessment | $105,840 | Total Assessment | $319,314 |
PROPERTY TAXES
Parcel Number
163577
Land Assessment
$105,840
Improvements Assessment
$213,474
Total Assessment
$319,314
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220 S Elm St
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