The Parkway Theater, a movie house and music venue in the Field neighborhood of South Minneapolis, is up for sale at an asking price of $775,000.  For the past decade, the venue has been owned by William Senkyr, who also owns Pepito's restaurant next door — hence the theater's designation, on its website, as "Pepito's Parkway Theater."

The theater, built in 1931, has 8,575 square feet of total space. It's always been a movie theater — including, for a period in the mid-20th century, an adult movie theater — and in recent years has broadened its programming to include other community events.

As a music venue, the Parkway is best-known for tribute shows like Cate Fierro's Feb. 11 show of Sade covers and a Jan. 14 tribute to Earth, Wind & Fire. Last June, Prince's New Power Generation chose the Parkway for a trio of reunion shows.

"Parkway Theater's current mission statement," according to the real estate listing, "is to reach out to the communities of music, theater, event rentals, and the independent film maker and to develop wider audience appeal. There is also a commitment to community by hosting more family-centered events, class reunions, non-profit events, fundraisers, cultural and business functions and public forums around issues of interest. The property offers over 5,000 square feet with 20 foot ceilings and no interior columns. Many possibilities."