Currently, it is used as the classrooms and office space of the University's three ROTC units, and offices for the University's program for High School students, with the gymnasium being available for campus activities.
Outside the Armory building, there is a nine foot tall statue of a soldier on a seven-ton, six-foot-high Vermont granite pedestal. It is called "Iron Mike" and a memorial plaque underneath reads: "erected in honor of the students of the University who served their country in the war with Spain, 1898-99.” Sculptor Theo Alice Ruggles Kitson designed the statue, which was commissioned and paid for by a committee that had originally been formed to send Christmas gifts to student soldiers in the 13th Minnesota Regiment, who were stationed in Manila. Professor Arthur E. Haynes, who chaired this committee, suggested doing something more than just sending gifts. He donated the first ten dollars and led the fundraising and process of designing the statue. It was unveiled in 1906.