Retail

Sherman Heights Development

2772 FM1417, Sherman, TX 75092

Listing Price: $4,690,000

Lot Size
13.46 acres
Price/Acre
$348,440
Land Type
Redevelopment

Investment Overview

Marcus & Millichap is pleased to announce the exclusive listing of Sherman Heights Commercial Development Site. The subject property consists 13.46 acres of land suitable for retail, office, or flex space, located on the northwest corner of FM 1417 and OB Groner Road in Sherman, Texas. Sherman, Texas is located 40 miles north of Dallas and is favorably positioned in the path of rapid northward expansion of the Dallas-Fort Worth metroplex via North Central Expressway (Highway 75). Sherman also hosts several top employers in North Texas, including Texas Instruments, Tyson Foods, Emerson, Kaiser Aluminum, North Texas Regional Airport, Grayson College, Austin College, and several regional and local medical facilities and retail services.

Sherman Heights Commercial Development is located directly across from the highly anticipated Sherman High School campus, a $157 million development scheduled to open for classes in January 2021. The new campus is proposed to provide a maximum capacity of 3,000 students, with expansions that could add a capacity for about 500 additional new students. The subject development site is strongly positioned to take advantage of the increase in traffic counts traveling to and from the new campus development and service the residents of Sherman.

In addition to the new campus development, the subject property is posed to be supported by Sherman Heights Multifamily Development, with the potential for 276 new multifamily units. As well as a new 3.55-acre self-storage facility and single-family rental home community consisting of 364 build-to-rent units. With the influx of new residents soon to arrive in the immediate submarket, the Sherman Heights Commercial Development provides the opportunity to service these residents with a mix of grocery, retail, office, and flex spaces. The site is currently zoned C-1 (Retail business) district, which consists mainly of land occupied by, or suitable for, neighborhood shopping facilities for the retailing of "convenience goods" and the furnishing of certain personal services to satisfy most of the daily needs of the adjacent residential neighborhood.

Overall, Sherman Heights Commercial Development provides a new developer the opportunity to put their stamp on a 13.46-acre site with a tremendous opportunity to service the growing community of Sherman, Texas with a prime location across from the new Sherman High School campus. New grocery, retail, and office assets have the potential to be strongly positioned to capture rising rents in the market and service the new developments for residents planned in the immediate submarket.

Investment Highlights

  • 13.46-Acre Commercial Development Opportunity | Part of Master Plan Community
  • Located Directly Across from the New $157 Million Sherman High School Development
  • Zoned C-1 (Retail Business) District | Ideal for Retail, Office, Supporting Services

Exclusively Listed By

Financing By

Retail

Sherman Heights Development

Listing Price: $4,690,000

Lot Size
13.46 acres
Price/Acre
$348,440
Land Type
Redevelopment

Investment Highlights

  • 13.46-Acre Commercial Development Opportunity | Part of Master Plan Community
  • Located Directly Across from the New $157 Million Sherman High School Development
  • Zoned C-1 (Retail Business) District | Ideal for Retail, Office, Supporting Services

Investment Overview

Marcus & Millichap is pleased to announce the exclusive listing of Sherman Heights Commercial Development Site. The subject property consists 13.46 acres of land suitable for retail, office, or flex space, located on the northwest corner of FM 1417 and OB Groner Road in Sherman, Texas. Sherman, Texas is located 40 miles north of Dallas and is favorably positioned in the path of rapid northward expansion of the Dallas-Fort Worth metroplex via North Central Expressway (Highway 75). Sherman also hosts several top employers in North Texas, including Texas Instruments, Tyson Foods, Emerson, Kaiser Aluminum, North Texas Regional Airport, Grayson College, Austin College, and several regional and local medical facilities and retail services.

Sherman Heights Commercial Development is located directly across from the highly anticipated Sherman High School campus, a $157 million development scheduled to open for classes in January 2021. The new campus is proposed to provide a maximum capacity of 3,000 students, with expansions that could add a capacity for about 500 additional new students. The subject development site is strongly positioned to take advantage of the increase in traffic counts traveling to and from the new campus development and service the residents of Sherman.

In addition to the new campus development, the subject property is posed to be supported by Sherman Heights Multifamily Development, with the potential for 276 new multifamily units. As well as a new 3.55-acre self-storage facility and single-family rental home community consisting of 364 build-to-rent units. With the influx of new residents soon to arrive in the immediate submarket, the Sherman Heights Commercial Development provides the opportunity to service these residents with a mix of grocery, retail, office, and flex spaces. The site is currently zoned C-1 (Retail business) district, which consists mainly of land occupied by, or suitable for, neighborhood shopping facilities for the retailing of "convenience goods" and the furnishing of certain personal services to satisfy most of the daily needs of the adjacent residential neighborhood.

Overall, Sherman Heights Commercial Development provides a new developer the opportunity to put their stamp on a 13.46-acre site with a tremendous opportunity to service the growing community of Sherman, Texas with a prime location across from the new Sherman High School campus. New grocery, retail, and office assets have the potential to be strongly positioned to capture rising rents in the market and service the new developments for residents planned in the immediate submarket.

Exclusively Listed By

Financing By

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