Investment Overview

Marcus & Millichap has been retained on an exclusive basis to market for sale Horton Court, a true value-add opportunity located at the prime corner of 4th Avenue and E Street in the heart of San Diego’s historic Gaslamp Quarter. Positioned directly across from the Balboa Theatre and Horton Plaza, this ±47,000 square foot mixed-use building occupies a high-profile ±15,000 SF corner lot and stands as one of the most iconic and architecturally distinct assets in the Gaslamp. The offering includes ±12,054 square feet of ground floor retail—currently 29.63% leased—and a fully occupied ±15,000 square foot basement leased to Bloom Nightclub (Live Nation) through 2033. Above, the ±14,000 square foot second floor office component is entirely vacant and ideally suited for adaptive reuse. The space features exposed natural brick, high ceilings, and abundant character—creating a unique canvas for creative office or residential conversion. Preliminary architectural drawings have been completed for a 15-unit apartment conversion, giving investors a clear and actionable path to repositioning the asset and capturing long-term upside through lease-up and redevelopment. Alternatively, the second story presents a highly attractive opportunity for an owner-user seeking a signature headquarters or creative workspace in a premier downtown location. This is a generational chance to acquire one of the Gaslamp’s most visible and well-located mixed-use buildings with multiple value-creation strategies in place—residential conversion, retail repositioning, or owner occupancy. Situated in the heart of Downtown San Diego, Horton Court benefits from immediate proximity to key destinations including Petco Park, the San Diego Convention Center, and the city’s revitalized waterfront. Downtown San Diego is undergoing a true renaissance, fueled by a wave of transformative public and private investment. From cutting-edge life science campuses and cultural destinations to major sports, hospitality, and public space improvements, these landmark developments are reshaping the urban core into a more vibrant, walkable, and mixed-use environment. As the downtown landscape continues to evolve into a premier live-work-play district, these investments are driving long-term growth and enhancing the value of well-located assets like Horton Court. This offering represents a rare opportunity to establish a foothold in one of Southern California’s most energized and rapidly transforming urban markets.