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State Street Theater | Carlsbad Village 2808-22 State St 8,843 SF Vacant Retail Building Online Auction Sale Carlsbad, CA 92008
INVESTMENT HIGHLIGHTS
- State Street Theater offers a compelling value-add investment opportunity for investors, developers, and owner/users in the center of the action.
- Providing outstanding connectivity to Interstate 5, Carlsbad State Beach, and the heart of North County’s coastal corridor.
- Located on bustling State Street, which attracts heavy pedestrian activity and sees more than 5,600 vehicles daily.
- Within steps of the theater, Carlsbad Village offers award-winning dining and vibrant local flavor, enhancing the property’s appeal.
- Broad zoning allows for many paths moving forward for multifamily, retail, convenience stores, restaurants, and health clubs.
- Carlsbad offers excellent local demographics, with a growing population within 1 mile and consumer spending topping $203 million.
EXECUTIVE SUMMARY
Capitalize on the value-add opportunity offered by State Street Theater in the sought-after Carlsbad Village.
Located at 2808 State Street, this iconic property has been a part of Carlsbad Village since its original construction in 1927. Beautifully maintained throughout the years, the painted brick façade and marquee make a striking impression on State Street. The building spans 8,843 square feet across two stories, with the first floor comprising 6,905 square feet and the second floor offering 1,938 square feet. The property sits on a 0.15-acre lot, maximizing the use of space. Ample street parking is available right in front of the building for guests and employees. Buyers have multiple options moving forward, depending on their specific vision. Owner/users can continue operating the property as a theater, or investors and developers have the option to redesign the property to suit their needs. The asset is delivered vacant, enabling immediate renovation. It features V-B zoning within the Village Barrio Zone and VC zoning under the Village Center-Master Plan. Approved uses include residential units (28–35 units per acre), convenience stores, restaurants, fitness clubs, and retail spaces.
Carlsbad Village is Carlsbad’s cultural center. Influenced by historic roots, proximity to beautiful beaches, and an unbeatable climate, The Village is a favorite destination of locals and tourists alike. Carlsbad Village and the adjacent historic neighborhood, known as The Barrio, are located at the northwest edge of the City of Carlsbad, on the Pacific Coast between San Diego and Orange County. Carlsbad Village and The Barrio are defined as the collection of city blocks running between Buena Vista Lagoon and Agua Hedionda, west of Interstate 5 along the Pacific coastline.
In recent years, the already thriving Carlsbad has been rediscovering its historic downtown as a center of civic life and economic vitality, as new firms and residents have begun migrating to the area. The Village and The Barrio neighborhoods have exploded with new development projects focused on redefining the beachside urban atmosphere with new restaurants, shopping, mixed-use projects, and transit-oriented development.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Located at 2808 State Street, this iconic property has been a part of Carlsbad Village since its original construction in 1927. Beautifully maintained throughout the years, the painted brick façade and marquee make a striking impression on State Street. The building spans 8,843 square feet across two stories, with the first floor comprising 6,905 square feet and the second floor offering 1,938 square feet. The property sits on a 0.15-acre lot, maximizing the use of space. Ample street parking is available right in front of the building for guests and employees. Buyers have multiple options moving forward, depending on their specific vision. Owner/users can continue operating the property as a theater, or investors and developers have the option to redesign the property to suit their needs. The asset is delivered vacant, enabling immediate renovation. It features V-B zoning within the Village Barrio Zone and VC zoning under the Village Center-Master Plan. Approved uses include residential units (28–35 units per acre), convenience stores, restaurants, fitness clubs, and retail spaces.
Carlsbad Village is Carlsbad’s cultural center. Influenced by historic roots, proximity to beautiful beaches, and an unbeatable climate, The Village is a favorite destination of locals and tourists alike. Carlsbad Village and the adjacent historic neighborhood, known as The Barrio, are located at the northwest edge of the City of Carlsbad, on the Pacific Coast between San Diego and Orange County. Carlsbad Village and The Barrio are defined as the collection of city blocks running between Buena Vista Lagoon and Agua Hedionda, west of Interstate 5 along the Pacific coastline.
In recent years, the already thriving Carlsbad has been rediscovering its historic downtown as a center of civic life and economic vitality, as new firms and residents have begun migrating to the area. The Village and The Barrio neighborhoods have exploded with new development projects focused on redefining the beachside urban atmosphere with new restaurants, shopping, mixed-use projects, and transit-oriented development.
Property tours are available by appointment only. Please contact the listing broker to schedule.
OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
MARKET ANALYTICS Click Here to Access
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Movie Theater
Building Size
8,843 SF
Building Class
B
Year Built
1927
Tenancy
Single
Building Height
2 Stories
Building FAR
1.35
Lot Size
0.15 AC
Parcel Numbers
Zoning
VB & VC
Frontage
67’ on State St
Walk Score®
Walker's Paradise (97)
Bike Score®
Very Bikeable (75)
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
13,244
68,724
171,031
2020 Population
12,397
67,900
169,127
2029 Population
13,453
68,685
170,894
2024-2029 Projected Population Growth
1.6%
-0.1%
-0.1%
Daytime Employees
8,246
35,633
94,933
Total Businesses
1,451
5,631
12,731
Average Household Income
$107,802
$117,673
$112,021
Median Household Income
$84,433
$88,378
$83,992
Total Consumer Spending
$203.9M
$1B
$2.3B
Median Age
41.1
41.3
39.2
2024 Households
6,074
28,341
64,706
Percent College Degree or Above
34%
28%
24%
Average Home Value
$982,640
$846,407
$769,839
NEARBY MAJOR RETAILERS
SALE ADVISORS
SALE ADVISORS
Aric Starck, Executive Vice Chairman
Aric Starck is Vice Chairman of Cushman & Wakefield’s Capital Markets Group and leads the most active brokerage team in North San Diego County, a top nationally ranking team. With over 20 years of commercial real estate experience, Aric is recognized as one of the most respected and top brokers in the area and has been involved in many of San Diego’s highest-profile and largest investment sales. His robust performance continually ranks him as a multi-year C&W Top Producer. He is also regularly featured in many news publications, for both his notable transactional performances, as well as in delivering local market expertise. Aric is a graduate of the University of San Diego, where he received his B.A. degree in Business Administration with an emphasis in Finance and Real Estate.
Drew Dodds, Senior Director
Drew is a broker with Cushman & Wakefield’s San Diego Office and member of Aric Starck’s team. Drew specializes in the acquisition, disposition, and leasing of institutional and non-institutional industrial, office and R&D product types. Drew’s experience includes involvement with lease and sale transactions, including portfolio transactions, sale leasebacks, build-to-suits, owner sales, and land sales. Since entering the business in 2015, Drew has been involved in the process of transacting more than $2.1 billion in commercial property including the disposition of the Link North San Diego Portfolio, totaling $205 million, the Regent Portfolio, totaling $142 million, and the Southern California Industrial Portfolio, totaling $207 million. Drew has received multiple accolades during his tenure in Commercial Real Estate, including consistently ranking as a CoStar Power Broker and receiving the San Diego Business Journal Deal of the Year Award in 2023 and 2022, and Deal of the Year Finalist in 2021 and 2024.
ABOUT THE AUCTION TECHNOLOGY
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
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AUCTION CONTACT
John Artozqui
Contact
Auctioneer License:
Ten-X Jessica Figueroa RE Brkr 01937601. Ten-X Auction Surety Bond 106465786
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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State Street Theater | Carlsbad Village | 2808-22 State St
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State Street Theater | Carlsbad Village | 2808-22 State St
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