The Merimbula Old School Museum occupies the sandstone building in Main Street that was the former teacher's residence and classroom, all under one roof. It is a rare example of this type of building still held in public ownership in NSW.

Formal application for a school at Merimbula was made in October 1869, signed by the Rev. W. Thom, Adam K. Page and Armstrong L. Munn. Parents undertook to pay one-third of the cost of the building. Sir William Montague Manning donated the land on Main Street, and the school began in temporary premises on the site in 1870. The stone building was first occupied in October 1875 with an enrolment of 39 children.

The building was vacated at the end of 1945, and the school moved to a new site on Main Street in premises which have been enlarged over the years. The residence was repaired and leased for accommodation, and the schoolroom was used for community purposes for a number of years. The building was eventually abandoned.

In 1967, the Imlay Historical Society was formed and requested permission to use the building as a museum, which, after extensive repairs, was opened in 1973. This NSW National Trust-classified building is leased from the BVSC and managed by the Merimbula-Imlay Historical Society.