It is listed on the National Register of Historic Places because of its significance to the atmospheric theatre architectural style popular in the United States during the 1920s.

[8] Spanish Colonial Revival was popular in Florida during the 1920s, and features arches, terra-cotta roof tiles, towerlike structures, balconies, ornamental ironwork, courtyards, patios and arcades.

This Churrigueresque revival style is seen in the pillars to the right of the stage, the proscenium details, and in Eberson's use of balustrades, stucco shells and garlands.

Inside, Eberson transitions the patrons from a lobby through wooden doors to an arcade (at the rear of the orchestra) and into a courtyard on a hill.

A Brenkert Brenograph Jr. projector, hidden in the east side wall, projects clouds on the ceiling, further creating an outdoor illusion.

[12] He presented Young with a bag of birdseed, a tongue-in-cheek reference to the stuffed pigeons that Eberson had installed to create the feeling of being outdoors at the Palace.

Four vaudeville acts followed: Harry Kahne, a nationally known mental wizard; Tilyou and Rogers, a comedy team; Johnny Mack and Company (including Ethel Dunton, Dolly Moran and Shirley Manion); and the Castlemans, a trio of entertainers.

Following the live acts, a Metro-Goldwyn-Mayer silent picture, Excess Baggage (1928 film), starring William Haines, Josephine Dunn and Ricardo Cortez, was shown.

[18] The day before the opening, the local newspaper, The Marion Star described the Palace: Forget for a few minutes that you are reading a copy of your evening paper.

Through the archways spreads the soft light of a harvest moon and the dim glow casts shadows over the somber colored walls.

Overhead myriads of stars are twinkling in an azure blue sky and soft, fleecy clouds are drifting gently with the breeze.

[T]he balcony being of cantilever construction removes the necessity of supporting it with posts and pillars which necessarily cut off the view of the unfortunate patron who is forced to sit behind one.

[18] The illusion of a courtyard setting is further enhanced by the beautiful plaster cast statues that are strategically placed throughout the Palace.

With his brother, Emilio, the Caproni firm supplied plaster cast sculptures to schools, museums and theatres throughout America, including Symphony Hall, Boston.

In an original work of merit there is a subtleness of treatment—a certain feeling which, if captured in reproduction, places the finished piece within the realm of art itself."

The statues installed at the Palace are castings of classical Greek and Roman works, including the Praying Boy, the Capitoline Antinous, Doryphoros and Diana of Versailles.

A casting of Lorado Taft's George Washington, dressed in Revolutionary War clothing is located in a balcony niche.

[19] The image to the right is a representation of the Caproni casting for the Capitoline Antinous, which is located at the Palace in a niche in the upper right hand corner of the north wall, above the proscenium.

Manufactured by the Page Organ Company of Lima, Ohio, it was first played by Banks Kennedy, who was the guest organist at the Palace until December 1928.

The pipes are cleverly concealed on each side of the stage, the opening forming double windows leading to balconies of two Spanish towers.

It started its life as the second organ of the 1,200 seat Mars Theatre (now the Long Center for the Performing Arts) in Lafayette, Indiana.

In 2015, repair of the front façade and signage began, including work to replace bricks and terra cotta damaged by water.