Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3515 Swiss Ave Dallas, TX 75204-6223

    • Office buildings
    • 12,720 SF
    • 0.44 lot acres
    OFF-MARKET
    Last Sale
    Oct 01, 2024
    Value Estimations
    $580,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4019294
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Dialysis Clinic Inc / Dialysis Center
    • DaVita DAVITA Downtown Dallas Dialysis / Dialysis Center / Local Medical Services
    • Whitney Morgan Bonser / Nurse Practitioner

    Property Details for 3515 Swiss Ave

    Year built
    1960
    Construction
    TILT-UP CONCRETE
    Lot size
    0.44 lot acres
    Property size
    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $715,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $447,000
      Market price range: $447k - $1.52M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $855,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.782
    Latitude
    32.7924
    CBSA code
    19100
    CBSA name
    DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $23,407
    $960,000
    $60,000
    $1,020,000
    -
    $960,000
    $60,000
    $1,020,000

    Comparable in this City

    • Value Estimation
      $520,000
      4,272 SF

      3004 Mckinney Ave

      OFFICE BUILDING • 4,272 SF
      3004 Mckinney Ave, Dallas, TX 75204
      View Details
    • Value Estimation
      $960,000
      15,096 SF

      2801 Swiss Ave

      OFFICE BUILDING • 15,096 SF
      2801 Swiss Ave, Dallas, TX 75204-5925
      View Details
    • Value Estimation by Request
      2,360 SF

      1919 Haskell Ave

      OFFICE BUILDING • 2,360 SF
      1919 Haskell Ave, Dallas, TX 75204-4283
      View Details
    • Value Estimation
      $2,540,000
      60,069 SF

      2929 Carlisle St

      OFFICE BUILDING • 60,069 SF
      2929 Carlisle St, Dallas, TX 75204-1084
      View Details
    • Value Estimation
      $1,000,000
      12,788 SF

      3400 Oak Grv Ave

      OFFICE BUILDING • 12,788 SF
      3400 Oak Grv Ave, Dallas, TX 75204-2335
      View Details
    • Value Estimation
      $995,000
      29,040 SF

      2909 Cole Ave

      OFFICE BUILDING • 29,040 SF
      2909 Cole Ave, Dallas, TX 75204-1189
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,656 SF

      Versatile Commercial Building Near Deep Ellum

      6,656 SF building near Deep Ellum, suitable for various uses.
      1801 S Good Latimer Expy, Dallas, TX 75204
      View Details
    • $4,900,000
      0.41 Acres

      Downtown Dallas Multifunctional Commercial Studio

      Rare commercial studio with editing suites, offices, and living quarters.
      2909 San Jacinto St, Dallas, TX 75204
      View Details
    • Contact for pricing

      Dallas Commercial Land Opportunity

      Prime Dallas lot, 14,586 sq ft.
      1910 Washington Ave, Dallas, TX 75204
      View Details
    • $1,995,000

      Premium Location Duplex Near Downtown

      Fully operational, licensed short term rental asset with high occupancy.
      4305 Roseland Ave, Dallas, TX 75204
      View Details
    • $3,095,000
      9,180 SF

      Dallas Townhome Building with Skyline Views

      Exclusive 5-unit townhome building in the heart of Dallas.
      2202 N Carroll Ave, Dallas, TX 75204
      View Details
    • New
      $1,799,995
      6,296 SF

      Contemporary Duplex in Dallas

      Income-producing duplex with modern features in a convenient Dallas location.
      2009/2011 N Prairie Ave, Dallas, TX 75204
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,802 SF

      Renovated Office Building Near Baylor

      Renovated office building with convenient access to amenities and transportation.
      3310 Live Oak St, Dallas, TX 75204
      View Details
    • $1,200 /Mo
      145,610 SF

      Dallas Office Space For Rent

      Office space available for lease in Dallas, Texas.
      3131 Mckinney Ave, Dallas, TX 75204
      View Details
    • $2,700 /Mo
      101,538 SF

      Furnished Office Space Available

      Fully-furnished office space with amenities in Dallas, TX.
      4131 N Central Expy, Dallas, TX 75204
      View Details
    • Contact for pricing
      1,574 SF

      Office Space Available For Rent

      Office space available for rent at 2512-2516 Boll St, Dallas.
      2512-2516 Boll St, Dallas, TX 75204
      View Details
    • Contact for pricing
      1,244 SF

      Office Space on McKinney Avenue

      Office space available for rent on McKinney Avenue, Dallas.
      3317 Mckinney Ave, Dallas, TX 75204
      View Details
    • Contact for pricing
      5,850 SF

      Medical ASC with Operating Rooms

      Vacant medical ASC with operating rooms in Uptown Dallas.
      4103 Swiss Ave, Dallas, TX 75204
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3515 Swiss Ave
    Dallas, TX 75204-6223
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.