This building was commissioned by Robert Stafford, a wealthy cattleman and banker, and designed by Galveston architect Nicholas Clayton in 1886. When completed it housed Stafford's private bank and a large general store on the first level. On the second level was the largest flat floored opera house in Texas.
Stafford was killed five years later and the theater closed. The building later housed a car dealership and apartments. In 1972 the building was purchased by the Magnolia Home Tour (which is now the Columbus Historical Preservation Trust, Inc.) Over the next 15 years, more than a million dollars was spent on the restoration. In 1991 theatrical productions began again, after nearly 100 years, and continue monthly.