Following World War II, the shops on the first floor continued to be occupied, but the second floor ceased to be used for events. As the population of Cuba declined in the 90s, so did activity on Main Street, and the Opera House eventually was abandoned in the 90s after Carpenter's Department store moved out. Heavy storms in the winter of 2002 knocked a roof beam through the structure, leaving the entire upper floor exposed to the elements. For the next three years, the Opera House remained in a state of disrepair. Some residents wanted the building demolished – at a cost of more than $100,000 – and the land repurposed for a new use, like a parking lot. Others, however, had a different idea.
Three years after the roof fell in, a group of residents met to save the Palmer Opera House. They called themselves the Cuba Friends of Architecture (CFA). They doubted the building could survive another winter, so later that year, when the property’s owner decided to sell the abandoned building, CFA acted quickly. The group had not yet received official non-profit status, so no there was no legal entity that could own the building, but they received court approval to purchase the Palmer Opera House in October 2005. They later got non-profit status in December.