Electra's population surge in the 1910s led local business leaders to hire Meador & Wolfe of Ft. Worth to design a theatre to accommodate the town's growing entertainment needs. It opened in 1920 and featured vaudeville, operas, boxing and other events. It included an orchestra pit which later housed an organ and piano for silent movies. The theater has been both a movie house and a performing arts venue. The Grand's eclectic design features Mission and Classical elements done with emphasis on fancy and fantasy. Panels with swags and piers frame a vault motif. The Grand Theater was awarded a Recorded Texas Historic Landmark marker in 2006

In 2007, Electra Grand Theatre, Inc. was formed as a non-profit organization to refurbish the wonderful old theater. After years of neglect, the theatre was deeded back to the City of Electra with a monumental task of returning it to a functional building. Although the exterior appears intact, the interior was almost completely destroyed because of a faulty roof which ruined the complete floor system, all seating, the balcony and stage, and many of the architectural details.

Current renovation plans include doubling the size of the theatre complex, and adding a covered annex which will contain a banquet/conference room, a catering kitchen, furniture storage and restrooms for the theatre.