The Ettamogah Pub is for sale with owners hoping to fetch more than $3 million for the Table Top property near Albury.
And brokerage firm Manenti Quinlan and Associates said a "hands-on operator" would be the best fit for the pub.
"Rarely does an opportunity present itself to acquire an Australian icon along with the opportunity of trading under a distinguishable brand steeped in history," director Leonard Bongiovanni said.
"There is a development application in place to enclose the barn and includes a relocatable kitchen.
Mr Bongionvanni said the 4.81ha site offers "multiple areas to enhance revenue and become a village off the highway".
"Numerous value-add opportunities are available via the currently unused areas which require an insightful and hands-on operator to activate and take advantage off," he said.
"Opportunities of this calibre are rarely available to the open market."
In addition to the pub, the Ettamogah site has a "village" available with retail shops and a stand-alone bottle shop on the property.
"The Ettamogah site offers an astute operator the opportunity to create a village with five retail shops, a reception centre and large dining barn with structures close to completion and under-utilised which will provide further upside once fitted out," Mr Bongiovanni said.
The development application accepted by Albury City in April approves plans to build a transportable kitchen, enclose the existing outdoor area (barn) and cover the deck and build a retaining wall.
These plans are a lot less than the $2.8 million original plans lodged with council more than 12 months ago.
These included a revamped onsite brewery, a refurbished restaurant and bar, re-designed outdoor beer garden and an open space for a moonlight cinema and children's play area.
The property will be sold by expressions of interest which will close on June 7.
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