Designed by architect George I. Griffin, the Colonial Theatre first opened its doors in 1914 under original owner Benjamin Piscopo, a native of Venice, Italy—honored inside by a signature fire curtain depicting his hometown from the water. Originally hosting a mix of stage productions and photoplays, the venue transitioned to motion pictures by the early 1930s before being divided into a five-screen multiplex in 1983.

After 87 years of operation, the theatre closed in August 2002. Its revival began in March 2016 through a capital campaign led by 609 Main Street LLC. Following a comprehensive multi-year restoration completed in spring 2021, the historic 761-seat venue reopened to host a diverse lineup of music, theatre, comedy, and civic events.

The Colonial Theater is located on Main Street in downtown Laconia.