Welp, guess we're losing our movie theatre

[Red Squirrel]

Check out this listing

215 CEDAR ST S, Timmins, Ontario P4N2H2

www.realtor.ca

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.

 

[pete6032]

Check out this listing

215 CEDAR ST S, Timmins, Ontario P4N2H2

www.realtor.ca

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]

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]

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...

 

[sdifox]

Red just build your dam in there.

 

[SKORPI0]

Property Type - Retail
Land Size - 210 x 112 FT
Annual Property Taxes - $49,153.47