Following the expected sale of the Tower Theatre to a local church, another iconic Fresno event venue is being listed for sale.

The 80-year-old Rainbow Ballroom will be offered on Wednesday for just under $4 million, according to Jared Ennis, commercial agent with KW Commercial.

For 32 years the Valvidia family has owned and operated the live venue, which has played host to a variety of acts from Banda to Mariachi to punk, hip-hop and rock and roll. The family is now ready to retire, said Ennis.

The owners hope to sell to another event operator, but will go with whatever buyer makes sense, according to Ennis.

The 18,700 square foot property comes with two parking lots and a liquor license. The Rainbow Ballroom’s dance floor sits atop what used to be the largest indoor pool in the Central Valley, and in the basement, one can still see where it used to be.

According to an online history of the Rainbow Ballroom, it originally opened as the Rainbow Natatorium in 1918.

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