Golden Balboa LLC Acquires Mixed-Use Property At 2445 Fifth Avenue San Diego For $16.4M
2445 Fifth Avenue
$16,400,000
$387/SF
Building Size
42,363 SF
Asset Type
Mixed-use
Closing
Jul 7, 2025
AI
The Laurel at Balboa is a 42,363-sf mixed-use property located at 2445 Fifth Avenue in San Diego’s Bankers Hill. The property was sold for $16.4 million, reflecting a price per square foot of $387.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $16,400,000
- Address: 2445 Fifth Avenue
- Market: San Diego
- Square Footage: 42,363
- Price per Square Foot: $387
- Buyer: Golden Balboa LLC
- Seller: Grady Development & Fifth & Laurel Associates
- Brokers: Ross Sanchez & Nick Totah - Marcus & Millichap
Marcus & Millichap’s Ross Sanchez and Nick Totah facilitated the transaction by representing the seller and procuring the buyer. The property is noted to be 92% leased, featuring ground-floor retail anchored by CUCINA Urbana and three levels of office space.
Players
San Diego Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.97%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93