Urban-High Street
The Laurel at Balboa
2445 Fifth Ave, San Diego, CA 92101
Listing Price: $17,250,000
Investment Overview
An iconic landmark in Bankers Hill, The Laurel at Balboa boasts an unmatched presence at the entrance to Balboa Park. Marcus & Millichap has been exclusively retained to market this premier asset, offering 42,363 square feet of gross building area, including 34,916 square feet of rentable multi-tenant office space across three floors and 6,500 square feet of ground-floor retail. The building is currently 91.41% leased.
The ground floor is anchored by CUCINA Urbana, a flagship restaurant by the renowned Urban Kitchen Group, which has operated at this location since 2005. The restaurant recently exercised a 5-year renewal, reaffirming its commitment to this high-profile retail experience and further solidifying its presence as one of San Diego’s most celebrated Italian dining destinations.
With 91.41% occupancy, The Laurel at Balboa offers immediate and stable income, with upside potential through lease-up and rent growth. Select suites feature private balconies with unobstructed views of Downtown San Diego and Balboa Park. The property is ideal for an investor seeking consistent cash flow or an owner-user looking to occupy premium office space while generating rental income.
Preliminary renderings propose converting the office space into 39 luxury apartment units, offering a prime repositioning opportunity in the highly amenitized, Balboa Park-adjacent neighborhood.
Situated in one of San Diego’s most vibrant neighborhoods, the property offers walkable access to Balboa Park, high-end dining, fitness studios, coffee shops, and boutique shopping. Originally named in the late 1800s for the city’s affluent bankers and financiers, it remains one of the most sought-after districts in San Diego.
The Laurel at Balboa
Investment Highlights
- Prime Mixed Use Asset: 42,363 SF Gross Building Area, including 34,916 SF of Office across 3 Floors, and 6,500 SF of Ground Floor Retail, 91.41% Leased
- Anchored by Retail Tenant: Cucina Urbana has operated here since 2005 and signed a new 5 Year extension to 2030
- Adaptive Re-Use Potential: Opportunity to convert office space into 39 residential units, preliminary drawings available
- Secured On-Site Parking: Subterranean garage with 82 gated parking stalls, a rare amenity in Bankers Hill
- Irreplaceable Location: Situated on 5th & Laurel at the entrance to Balboa Park in Bankers Hill
- High-Quality Construction: Built in 1989 with steel frame construction, offering durability and long-term value
Exclusively Listed By
Financing By
Listing Price: $17,250,000
Investment Highlights
- Prime Mixed Use Asset: 42,363 SF Gross Building Area, including 34,916 SF of Office across 3 Floors, and 6,500 SF of Ground Floor Retail, 91.41% Leased
- Anchored by Retail Tenant: Cucina Urbana has operated here since 2005 and signed a new 5 Year extension to 2030
- Adaptive Re-Use Potential: Opportunity to convert office space into 39 residential units, preliminary drawings available
- Secured On-Site Parking: Subterranean garage with 82 gated parking stalls, a rare amenity in Bankers Hill
- Irreplaceable Location: Situated on 5th & Laurel at the entrance to Balboa Park in Bankers Hill
- High-Quality Construction: Built in 1989 with steel frame construction, offering durability and long-term value
Investment Overview
An iconic landmark in Bankers Hill, The Laurel at Balboa boasts an unmatched presence at the entrance to Balboa Park. Marcus & Millichap has been exclusively retained to market this premier asset, offering 42,363 square feet of gross building area, including 34,916 square feet of rentable multi-tenant office space across three floors and 6,500 square feet of ground-floor retail. The building is currently 91.41% leased. The ground floor is anchored by CUCINA Urbana, a flagship restaurant by the renowned Urban Kitchen Group, which has operated at this location since 2005. The restaurant recently exercised a 5-year renewal, reaffirming its commitment to this high-profile retail experience and further solidifying its presence as one of San Diego’s most celebrated Italian dining destinations. With 91.41% occupancy, The Laurel at Balboa offers immediate and stable income, with upside potential through lease-up and rent growth. Select suites feature private balconies with unobstructed views of Downtown San Diego and Balboa Park. The property is ideal for an investor seeking consistent cash flow or an owner-user looking to occupy premium office space while generating rental income. Preliminary renderings propose converting the office space into 39 luxury apartment units, offering a prime repositioning opportunity in the highly amenitized, Balboa Park-adjacent neighborhood. Situated in one of San Diego’s most vibrant neighborhoods, the property offers walkable access to Balboa Park, high-end dining, fitness studios, coffee shops, and boutique shopping. Originally named in the late 1800s for the city’s affluent bankers and financiers, it remains one of the most sought-after districts in San Diego.
Exclusively Listed By
Financing By
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