While theaters range all over the place, it should not be a goal you are looking for really.
Instead, look at the room you are looking to setup and what you can accomplish to get there. I always struggle when people talk about 'home theater', and they are using a 50" TV that they are sitting 12 feet away from. What theater has a 50" TV in it? If they are just talking about surround sound, then that's only half the discussion really. For that matter, surround sound by itself may be just a small part of an overall goal.
Theaters pretty much do have one thing in common. They tend to be blacked out spaces. Not only do they have no windows, but they typically use black paint and a lot of dark treatments on all the surfaces within the theater space. They do typically follow THX guidelines and have the center seats about 1.5x the screen width away from the screen. While some use the 2.35 format as 'standard', many use a constant width setup, and that basically ends up being about 10" of diagonal screen size for each foot of viewing distance when using current home theater 16:9 screens. So, if you have a 50" TV, you should sit 5' from it to get the same immersion that a home theater delivers. This is why 80"+ screens are often a more appropriate size for main viewing locations.
Front projection, of course, being far more optimal for true recreation of the theater experience in your home, and you better believe that you can match, or exceed the quality that many theaters are able to deliver for just a couple thousand dollars (or so) of video/screen costs.
Then the audio discussion begins and the room size, dimensions, layout, etc. all come into play and will sit entirely against whatever budget you thought you had. You can do it on the cheap, but speakers are one of those costs that tend to sound better as you spend more and many people would be very excited for get some B&W 801D speakers into their home despite their ridiculous price point. But, around these parts we do try to come close to hitting budgets and recommend sale/used gear if there is something of value to be had.
What theaters tend to use really is often inappropriate for home use as well. The speakers are designed for larger spaces, not homes.