Today, Center Stage houses two performing spaces, the 541-seat Pearlstone and the smaller Head Theater,[2] both in its home in the Mount Vernon Cultural District of Baltimore.

In 1931 the North Avenue building was previously occupied by a theatre called The Peabody that opened in the early 1900s; in 1931 Orioles Cafeteria a local food chain restaurant moved into the space at 11 East North Avenue and moved out in August 1965 to make space for the Center Stage theater.

[3] On January 10, 1974, the theater's North Avenue home was burned to the ground in an arson fire (reported to have been started by two men who accidentally set the Center Stage ablaze at the back after mistaking it for the next-door bar, Benny Goodmans Beef And Beer, from which they had been forcibly removed and were out to burn down in an act of revenge).

[4] After the 1974 fire, many decided that since the outer shell was not severely damaged, some hope remained for salvage use, but the interior was completely destroyed and unstable, was considered unsafe by city inspectors and construction crews and was later demolished.

[5] The Center Stage has since become Baltimore's leading professional theater, hosting more than 100,000 people each season to its home in Mount Vernon.