Taken from the Apr. 25, 1928 Daily Olympian. Know where this place is in the present day?

The attachment has the image in more detail. The text reads: 

Avalon Theatre and Store Building

Architect's drawing of the new Avalon theatre building which is now being occupied by a number of Olympia merchants. The theatre proper will open Thursday evening. Below is a picture of the old corner. The buildings shown were removed to make way for the new structure which has improved the appearance of the corner considerably. The building was designed by Franklin Cox Stanton for the Casco company, Millard Lemon, president, builders.

Marking Another Milestone in the March of Progress of Olympia

This Modern Building Will House the Avalon Theatre, Avalon Confectionary, Avalon Grocery, Dew Drap [i.e., Drop] Inn, Good Eats Cafe