3515 Swiss AveDallas, TX 75204

Property Details for 3515 Swiss Ave

Year built

1960

Construction

TILT-UP CONCRETE

Lot size

0.44 AC

Property size (Sq ft)

12,720 SF

Zone code

Z239

Property type

Office buildings

APN

123715000000

APU

123715000000

Description

This fee-simple mixed-use property, located at 3515 Swiss Ave in Dallas, Texas, offers 12,720 square feet of space in a two-story building constructed in 1960 and renovated in 2006. Situated on a 0.44-acre lot, the property boasts 41 parking spaces (19 gated underground and 22 surface). Currently 100% occupied by a tenant paying rent until 2026, the property generates $200,340 in annual net operating income. The tenant is responsible for all property expenses (CAM, repairs, utilities, insurance, property taxes, roof, and structure). Zoned PD 298 Subarea 11, the property allows for various uses, including creative office, daycare, and medical office. Its prime location in Old East Dallas, adjacent to Deep Ellum and Baylor University Medical Center, offers significant upside potential. The area boasts a strong demographic profile, with average household incomes exceeding $125,000 within a three-mile radius and a population exceeding 380,560 within a five-mile radius. The property includes an ADA-compliant ramp at the front entrance and an exterior handicap lift at the rear. This presents a unique opportunity for investors or owner-users to capitalize on the thriving medical submarket and the dynamic Deep Ellum neighborhood. The current tenant is a "dark" tenant, providing the new owner with the option to negotiate an early lease buyout or continue collecting rent while planning a repositioning strategy.

• CAP approach

  CAP return

  Valuation

  6%

  $2,307,274

  6.5%

  $2,129,792

  7%

  $1,977,664

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,595,028

  Geo Method

  $3,808,241

• Alternative Use

  Use

  Valuation

  Residential

  $2,640,942

  Hospitality

  $2,419,088

  Educational

  $2,012,653

  Medical

  $2,081,871

  Retail

  $3,130,794

Location Insight

City

Dallas

County

Dallas

State

Texas

Latitude

32.7924

Longitude

-96.782

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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