1815 SOUTH SAM RAYBURN FREEWAY (SHERMAN, TX)

MULTI TENANT

1815 SOUTH SAM RAYBURN FREEWAY, SHERMAN, TX 75090
Price :
$ 2,850,000
Cap Rate :
1.53%
NOI :
$ 43,617
Lot Size :
12.69 sqft
Year Built :
1957/1965/1966
Property Area :
334,272 sqft
Status :
AVAILABLE
MARKETING PACKAGE

 

By downloading the Marketing Package (“Offering Memorandum”) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.

 

 

 

 

 

 

Investment Highlights

• 334,272-Square-Foot Multi Tenant Warehouse Situated on 12.69 Acres
• Features Two Dock-High Doors, Six Grade-Level Doors, and 16’-25’ Clear Height
• 10% Occupied with a Market Vacancy Rate of 2.10% Creates investment Opportunity
• Strategically Located Industrial Warehouse with Proximate Access to Major Freeways
• Zoned Heavy Industrial: Rare Zoning in Sherman, Texas

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1815 South Sam Rayburn Freeway in Sherman, Texas. The subject property consists of approximately 334,272 square feet of space and is situated on 12.69 acres of land. The asset features two dock-high doors, six grade-level doors, and 16’-25’ clear heights. A rare zoning in Sherman, Texas, the subject property is zoned Heavy Industrial. Ten percent property occupancy combined with a market vacancy rate of 2.10 percent creates investment opportunity for a buyer. This strategically located industrial warehouse has proximate access to major freeways.

Industrial rents in the Sherman-Denison Market were rising at a 0.8 percent annual rate during Q3 2020, and have posted an average annual gain of 4 percent over the past three years. There is 88,000 square feet currently underway, representing the largest under construction pipeline in over three years. Over the past three years, 33,000 square feet has delivered, or a cumulative inventory expansion of 1.2 percent. Vacancies in the metro were significantly below the 10-year average as of 2020 Q3, but trended slightly upwards over the past four quarters. Prior to the major economic interruption that resulted from the coronavirus, employment numbers were positive, but not outsized. At the end of last year, employment was growing at a 0.7 percent annual rate. In total, industrial employment makes up about 8,500 of the metro’s 49,000 jobs. (CoStar)

The Dallas/Fort Worth metroplex is the fourth-most populous metro in the nation with an aggregate of more than 7.1 million residents. It is composed of 13 counties stretching nearly 10,000 square miles. The city of Dallas houses 1.3 million people, followed by Fort Worth with 800,000 residents. Strong job growth continually draws new residents to the region. To accommodate the additional traffic, the region’s transportation network is evolving. Traffic flow is improved as freeways are expanded and miles are being added to tollways and turnpikes. The growth of the transportation network is vital to supporting commuters to the metros numerous corporations and growing industries. Dallas/Fort Worth’s population growth in recent years ranks among the highest in the U.S. for a major metro. The Metroplex is home to 21 Fortune 500 companies and many regional headquarters, drawing workers and residents. The area’s extensive network of rail and highways, along with the International Inland Port of Dallas, ensure its status as a distribution hub.

 

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2020 Marcus & Millichap. All rights reserved. (Activity ID: ZAB0060587)

Exclusive Listing

Adam Abushagur
(972) 755-5223
Lic # TX : 661916

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