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31824460
31824376

3675 Voltaire Street, San Diego, CA 92106

RP
CA 02027870
Marcus & Millichap - San Diego
Marcus & Millichap - Downtown San Diego
NT
CA 01922255, 0192255
Marcus & Millichap - Downtown San Diego
Listed by Marcus & Millichap - San Diego, Marcus & Millichap - Downtown San Diego
$4,200,000
44 days on market
Updated 8 days ago

Voltaire Court

Details
Property Type Retail, Office
Sub Type Storefront, Shopping Center (+1)
Square Footage 11,060
Occupancy 45.5%
Tenancy Multi
Price per SqFt $380
Acreage 10728.000
Parking Spaces 6 spaces
Parking Per SqFt 0.54
Investment Type Owner/User
Ground Lease No

Voltaire Court at Point Loma | Retail & Office Mixed-Use Building | Investment or User

Marketing description

The Totah Group of Marcus & Millichap is pleased to present 3675-3687 Voltaire Street, a 11,060 SF mixed-use office- over-retail building with 13 suites in one of San Diego’s most fiercely held submarkets. In the last five years, exactly one building over 10,000 SF has changed hands in this zip code, an opportunity that doesn’t come along often.

Point Loma doesn’t build new commercial. What exists here has been held, passed down, and quietly kept off the market for decades. Voltaire Court sits in the residential heart of the neighborhood, directly adjacent to Point Loma High School. The demographics are strong, the vacancy is tight, and the supply pipeline is essentially nonexistent.

Designed in 1959 by Robert J. Platt, AIA, one of San Diego’s most celebrated mid-century architects, this building carries an authenticity that modern construction simply cannot replicate. The mid-century bones are intact and the character is undeniable, but the building has been thoughtfully updated where it counts: brand-new roof, two new HVAC units, fresh exterior paint, refinished wooden beams, new staircase, new exterior windows. The heavy lifting is done. A new owner walks in day one without a capital improvement checklist hanging over their head. Thirteen suites across a retail-at-grade, office-above configuration that gives a buyer real flexibility in how they use it, lease it, or both.

The building’s mid-century pedigree and architectural provenance may qualify it for historic designation, potentially opening the door to a Mills Act contract and meaningful property tax savings for a future owner.

Eight of thirteen suites are occupied. The other five can be yours. Establish your business at a Point Loma address, let the existing tenants quietly offset your cost of ownership, and build equity in a market that has historically and consistently outperformed other submarkets.

Every lease in place is short-term and below market on a gross basis. A sophisticated buyer comes in, resets the rents to market, converts to NNN or modified gross, and stabilizes an asset in a submarket with virtually no competing supply. The path to stabilization is well-defined.

Point Loma real estate at this scale trades once in a generation. The building is well maintained, the leases are flexible, and Point Loma’s fundamentals do the rest.

Contact Agents or visit site to download OM: https://thetotahgroup.com/property/voltaire-court/

Investment highlights

RARE POINT LOMA OFFERING: Rare large-format mixed-use offering in Point Loma, only one comparable building has traded in this zip code in the last five years.

FLEXIBLE MULTI-TENANT LAYOUT WITH PARKING: 13 suites across a flexible office-over-retail configuration with 6 surface parking spaces.

IMMEDIATE VACANCY UPSIDE: 8 occupied suites with 5 immediately available for owner-use or re-tenanting.

MARK-TO-MARKET OPPORTUNITY: All leases short-term and below market, clear near-term repositioning upside.

RECENT CAPITAL IMPROVEMENTS: Major capital improvements completed, new roof, HVAC, paint, beams, staircase.

PRIME SCHOOL ADJOINING LOCATION: Embedded Point Loma location directly adjacent to Point Loma High School.

CONSTRAINED SUPPLY DYNAMICS: Supply-constrained submarket with strong demographics and no new commercial pipeline.

OWNER-USER OR VALUE-ADD OPPORTUNITY: Dual-path opportunity, ideal for the owner-user and compelling for the value-add investor.

Listing Contacts

RP
CA 02027870
Marcus & Millichap - San Diego
Marcus & Millichap - Downtown San Diego
NT
CA 01922255, 0192255
Marcus & Millichap - Downtown San Diego
Listed by Marcus & Millichap - San Diego, Marcus & Millichap - Downtown San Diego

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Additional Information

Name
Ricky Partida
License
02027870
Brokerage
Marcus & Millichap
Brokerage Address
655 West Broadway
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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