The bureaucratic approach to the management of the National Arts Theatre Complex (NATC) since inception has proved to be unsuitable and ineffective as indicated by its present maintenance status and public commentary over the years. Relying on observations made from a physical inspection of the NATC structure and its facilities, documented public commentary and information derived from questionnaire surveys, the moribund state of the complex is confirmed. Arguing that the complex is an investment in real estate and as well as a business property, this paper considers how it can be revitalized through the deployment of Facility Management (FM) service delivery which is a management concept suited to large facilities and multiple systems like the NATC. The findings are that the facility is in a moribund state as a result of which it has been unable for years now to serve the purpose for which it was established, that the mission-focused nature of FM service delivery has the potential to enhance its functionality as a centre for events and expositions as well as optimize its value as an investment property thereby serving to sustain this important component of Nigeria’s built heritage.