2916 N US Highway 75
Sherman, TX 75090

Shafer Crossing Retail center is comprised of 10 units long term stable tenants. Property offers a complementary mix of tenants, 3 of which are 10 yr plus tenants, the property does have an excellent tenant history, many of which do renew due to the its major intersection off HWY 75 and HWY 82, and the property management. Shafer Crossing is a 37,291 SF shopping center, sitting on a 5.88 acre lot. The property was constructed on reinforced concrete slab, wood framing, and finished with stucco and stone walls. The property offers 2 ingresses and egresses off HWY 75, making for excellent accessibility. The property does have a tall marquee sign, which lights up, and has a lit surface parking lot that also provides ADA access to the shopping center. Shopping Center had a new roof replaced in 2015 which comes with a transferable 10 year warranty. Part of the sale is a 1.98 acre pad site, which is just adjacent to the property (please review maps). This Pad Site leave for major opportunity to develop further on the land, thus increasing revenue, and appreciation of land and improvement. Estimated market value of extra land is $5 Per Sq Ft (86,248 sq ft x $5 = $431,240). The current cap rate with land is 7.68% and after excluding land value is 8.23%.