The 4-Star Theater in the Richmond may not have the old-school charm of other independent theaters around town, but it has been running for more than 100 years. Now, however, the Clement Street spot is up for sale for $2.8 million, and it's targeting developers, not theater operators, as buyers, reports Richmond SF. The property is zoned for mixed-use development up to 40 feet, and the brokerbabble on the property's sale flier proclaims that there is "huge development potential for mixed use with condos."
The Lee family, who also operate the Presidio and Marina theaters, are the current proprietors of the 4-Star but rent the property from its owner, as Richmond SF notes. Unlike many of the other theaters that have gone up for sale in the past few years, the interiors of the 4-Star are in fairly good condition. They don't, however, have the grandeur of other old spots, like the Metro in Cow Hollow that is now an Equinox or the blighted Alexandria, which is slated to become residential housing. Of course, if developers do snap up the property, it won't matter what the interiors look like, anyway.
· 4 Star Theatre Property for Sale at $2.8 Million, Targeting Developers [Richmond SF]
· 4 Star Theater [Loopnet]
· Cow Hollow's Metro Theater Transforms into Equinox Gym [Curbed SF]
· Alexandria Theater Sells, Housing on the Way [Curbed SF]