Somerville Theatre and Capitol Theatre buildings hit the market

The buildings that house two of Greater Boston’s most beloved independent movie theaters, the Somerville Theater in Davis Square and the Capitol Theater in East Arlington, have been put up for sale, according to a listing from Coldwell Banker Realty.

The properties are being marketed as part of a three-building portfolio that also includes an apartment building at 36 College Avenue in Somerville for $16 million. Somerville Theater Building, V 49-55 Davis Squareand the Capitol Theater Building, in 202-218 Massachusetts Avenue in Arlingtoneach are listed with an asking price of $12 million.

The Davis Square property spans approximately 47,566 square feet and includes the 900-seat Somerville Theater, the 500-seat Crystal Hall, a long-term restaurant tenant, and a recently renovated office suite, according to the listing, which describes the building as “an irreplaceable presence in one of Greater Boston’s most vibrant business districts.” The Arlington property is a three-story mixed-use building with six commercial suites and 18 residential apartments, anchored by the Capitol Theater.

Both buildings date back to the 1910s and have been owned by the Fryman family for decades.

The list prompted a statement from theater operators, to publish to the Somerville Theater Facebook page on July 11. CSB Theaters, Inc., which took over day-to-day operations of the Somerville Theater, Capitol Theater and Crystal Hall in 2025, owns the companies but not the buildings themselves, the post explained.

CSB Theaters acknowledged the uncertainty a sale could bring but pointed to its long-term leases as a source of stability.

“While the uncertainty surrounding the sale is unnerving for everyone who values ​​these places, and especially for those who depend on them for their livelihoods, we are cautiously optimistic about the future,” a statement from CSB Theaters said. “With multi-year lease agreements in place, we are confident that not much will change for us in the short term. This, coupled with our steadfast commitment to our Somerville and Arlington communities, and their unwavering support of these local institutions, makes us optimistic about what comes next.”

Boston.com has reached out to Carl Christie, the real estate listing agent, and Ian M. Judge, creative director and chief operating officer of the Somerville Theatre, for comment. Christie did not respond in time for publication.

The judge, in an email to Boston.com, echoed the Facebook post that the sale includes the buildings, not the theaters themselves.

“The building is for sale, not the company,” the judge wrote. “We are one of the tenants, we are not selling anything, the landlord is selling the building, and we have several years left on the lease.”

The judge said CSB is currently in the second year of a five-year lease, with the option to renew for another five years after that.

It remains unclear what the sale of the buildings could mean for the future of the theaters, including whether a new owner would keep the property intact, given its historic designations, or how the push for denser development on Davis Square might affect the sale.

Annie Jonas is a community writer for Boston.com. She was previously a local editor at Patch and a freelancer at the Financial Times.