This was a major theater at 40 Main Street in downtown Woonsocket. The 875-seat theater opened around 1850 as the Music Hall Theatre. It later became Nickel Theatre and in 1900 it was renamed the Strand Theatre. On January 1, 1926, it was damaged in a fire during an afternoon matinee, which killed two children. After repairs it reopened as the Olympia Theatre. The Olympia’s slogan was “Big Shows, Small Prices” and low-budget studio pictures were featured. 
The Olympia showed its last movies and closed in the 1950’s. It was badly damaged by a fire in August 1955. The building was gutted internally and its original five stories shrunken to two-and-a-half floors of office and retail space. It was eventually demolished in 1984.