NEWPORT BEACH, Calif. — November 2, 2026 — Coastal Commercial announced the successful sale of the historic Balboa Theater, a nearly century-old landmark located at 707 E. Balboa Blvd. in the heart of Newport Beach’s Balboa Village. The sale closed on Friday, Oct. 23, 2026.
The property was sold by a local family office to a local private real estate investor who intends to restore the theater. Coastal Commercial represented the seller, while Christian Emerson of The Oppenheim Group represented the buyer.
Originally opened in 1928 as the Ritz Theater, the property has witnessed nearly 100 years of change along the Balboa Peninsula. Through generations of residents, visitors, and businesses, the theater has remained a recognizable part of Balboa Village’s cultural identity.
The theater’s history is as colorful as the seaside community surrounding it.
During its early decades, the theater operated as a neighborhood movie house, providing entertainment to residents and visitors of the growing coastal community. By the 1970s, it had entered a more controversial chapter, operating as an adult movie theater and becoming the subject of police raids and legal battles.
In subsequent years, the theater became known for alternative cinema and cult classics, including midnight screenings of The Rocky Horror Picture Show.
The theater ultimately closed its doors in 1991. Despite numerous efforts to restore and reopen the property over the following decades, the historic venue has remained closed for approximately 35 years.
Preserving the Theater’s Cultural Legacy
A unique component of the recent transaction was a deed restriction intended to preserve the property’s longstanding connection to entertainment, culture, and the performing arts.
Under the restriction, the property must continue to be used for theatrical, cultural, event-related, or performing arts purposes. Ancillary commercial uses are also permitted, providing flexibility for complementary businesses and activities that support the property’s future operations.
The restriction establishes a framework for the property’s future use while helping maintain its historical identity as an entertainment and cultural destination within Balboa Village.
A New Chapter for a Newport Beach Landmark
“It is great to finally see the Balboa Theater enter a new chapter,” said Nathan Holthouser, President of Coastal Commercial. “Historic theaters can be challenging properties to own and restore, and the people who take on these projects often do so because they have a genuine passion for making a meaningful contribution to their communities.”
“Everyone involved is excited to see what comes next for this historic theater in the heart of Balboa Village,” Holthouser continued. “I wish the new buyer tremendous success in this endeavor, and I will personally be cheering them on from the sidelines.”
“The buyer has a long history of restoring historic landmarks across California, and this family is the right one to take on the Balboa Theater,” said Christian Emerson, Commercial Team Lead at The Oppenheim Group, who represented the buyer. “Our goal is to bring it back to its former glory as a theater with an elevated restoration.”
For generations, the Balboa Theater has reflected the changing character of the Peninsula, from the golden age of neighborhood movie houses to the counterculture of the 1970s and the cult-film era that followed.
With new ownership and plans for restoration, the property now has an opportunity to reclaim its place as a cultural and entertainment destination in Balboa Village.
Nearly 100 years after its original opening, the theater’s next chapter has yet to be written, but its place in Newport Beach history remains firmly established.
About Coastal Commercial
Coastal Commercial is a Southern California commercial real estate brokerage specializing in commercial leasing, investment sales, property management, and advisory services. The firm represents property owners, developers, and tenants throughout Orange County and Southern California. For more information, visit: www.coastalcommercial.com.
About The Oppenheim Group Commercial Division
The Oppenheim Group Commercial Division takes a luxury, white-glove approach to commercial real estate. See www.ogroup.com/commercial.
Media Contact
Company Name: Coastal Commercial
Contact Person: Maggie Attashian
Email: Send Email
Phone: 949.478.2450
Address:204 Main Street Suite 750
City: Newport Beach
State: CA
Country: United States
Website: https://www.coastalcommercial.com/
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