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Welp, guess we're losing our movie theatre

Red Squirrel

No Lifer
May 24, 2003
59,682
8,598
126
www.uovalor.com

It's for sale. Not being able to be open and still have to pay all the bills is kinda a big financial sink so guess they're shutting her down. It's been around for as long as I remember, kind of sad to see it go.

There's a possibility it does stay as a theatre but my guess is buyer will convert to housing, way more profitable.
 
  • Wow
Reactions: Captante

pete6032

Diamond Member
Dec 3, 2010
5,315
1,133
136

It's for sale. Not being able to be open and still have to pay all the bills is kinda a big financial sink so guess they're shutting her down. It's been around for as long as I remember, kind of sad to see it go.

There's a possibility it does stay as a theatre but my guess is buyer will convert to housing, way more profitable.
How much more profitable is housing than a movie theater?
 

K1052

Lifer
Aug 21, 2003
36,591
10,558
136
As somebody who does site selection after looking at it I'd say highest probability is somebody leases or buys and it remains a cinema. It had to be cash flowing and local RE prices too low to justify scraping and building homes.
 

BoomerD

No Lifer
Feb 26, 2006
56,887
5,249
126
We lost ours because of the WuFlu closures. Now the city is talking about buying it for a police admin building...and allegedly offered $30K more than the asking price.
We have fewer than 10 cops here. We don't NEED this money pit...
 

SKORPI0

Lifer
Jan 18, 2000
17,073
1,199
126
Property Type - Retail
Land Size - 210 x 112 FT
Annual Property Taxes - $49,153.47
 

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