The Community Theatre was built and financed by Henry & Minnie Elliott in approximately 1932. It was managed and operated by their son, Richard Elliott and partner Walter Mills for several years.

The building was used as a roller rink for a period of time after the development of television, making movies unprofitable. The office of the Guilford Water Company was on the second floor.

True Textiles (formerly Guilford of Maine) later purchased the building.