CityStreet Commercial is pleased to present a rare opportunity to acquire a stabilized retail theater asset with significant upside and development potential, located in the heart of Downtown San Diego. Situated at 701 5th Avenue, this iconic property offers 54,600 square feet of gross leasable area, combining historic character with modern renovations in one of San Diego’s most dynamic urban corridors. Originally built in 1997 and extensively renovated in 2019, the property was previously operated as a theater and is currently configured for retail/office use, providing flexible options for a wide range of commercial tenants. With a low parking ratio of 0.14 per 1,000 square feet, the asset is ideally suited for a dense, pedestrian-friendly environment surrounded by retail, dining, entertainment, and residential developments. 701 5th Avenue sits within San Diego’s vibrant Gaslamp Quarter, a nationally recognized historic district known for its energetic nightlife, cultural venues, and year-round tourism. The area’s strong foot traffic and continued residential and commercial growth present investors with an opportunity to reposition or redevelop the asset to maximize long-term value.