3515 Swiss

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Investment Overview

Marcus & Millichap is pleased to present 3515 Swiss Avenue, a two-story, 12,720-square-foot asset situated on 0.44 acres and located in Dallas, Texas. This investment or owner/use opportunity is situated in the heart of Baylor Medical Center and located within the rapidly transitioning submarket of Old East Dallas, directly adjacent to Deep Ellum. The subject property also features an on-site parking lot with 19 gated underground parking spaces, and 22 surface parking spaces, totaling 41 spaces. The property at 3515 Swiss features the ability to be converted into a new medical office space or a multitude of alternative uses allowed under the PD 298 zoning.

The asset is currently 100 percent occupied by DaVita Dialysis, which has recently gone dark and is continuing to pay base rent and triple-nets throughout the term of their lease, which runs until 2026. The tenant is responsible for all property expenses, including CAM, repairs, utilities, insurance, property taxes, roof, and structure. The current net operating income from the asset is $200,340 annually. A new owner has the potential to negotiate an early lease buyout or continue to have the tenant maintain and operate within the property throughout the life of their lease.

The subject property is strategically located among favorable demographics, with a total population exceeding 380,560 within a five-mile radius, and an average household income of over $125,000 within a three-mile radius. There is significant upside potential through lease-up and the rehabilitation of existing building, all while benefiting from the rising rents as a result of new developments in nearby Deep Ellum and the greater East Dallas submarkets.

The property at 3515 Swiss Avenue, is located in the center of Baylor University Medical Center, a nationally recognized, faith-based, academic medical center. The campus features the flagship hospital of Baylor Scott & White Health – North Texas, with 914 beds, and caring for more than 300,000 people annually. The campus is also surrounded by multiple specialist locations, including areas such as cardiology, neurosurgery and spine associates, pulmonary and sleep specialists, pharmacy, and much more. The subject property is well-situated amongst this massive campus and provides the potential to serve as a complementary use to the surrounding establishments.

The eclectic and dynamic submarket of Deep Ellum is located directly adjacent to the subject property. The submarket was established in 1873 and stands as one of the city's most historically and culturally significant neighborhoods, consistently attracting artists, creatives, and entrepreneurs. This vibrant district, home to over 400 businesses ranging from independent and mom-and-pop shops to start-ups and nationally recognized brands, offers nightly opportunities for local music, performances, art shows, and hosts the annual Deep Ellum Arts Festival, showcasing over 100 musicians, 200 visual artists, and over 30 restaurants on five stages.

Overall, 3515 Swiss provides a new investor or owner/user the rare opportunity to become a vital part of Dallas's most dynamic neighborhoods. This two-story, 12,720-square-foot asset allows a new owner to be strongly positioned in a thriving medical submarket, with the potential to fully occupy the entire building, or lease out a floor for additional income options. While DaVita Dialysis is currently operating as a dark tenant, the new owner can have the opportunity to negotiate an early lease buyout or continue to collect the cashflow while a new repositioning of the asset is planned.