The former West Bromwich Labour Club is on the market through agents Bond Wolfe.
The near one acre site at 54 Sandwell Road is close to the town centre and adjacent to the New Square development scheme set to include occupiers such as Tesco, Next, Primark, JD Sports, Harvester and many others.
The once popular club was a drinking establishment with snooker tables, a function room for 250 people, substantial car park and bowling green to the rear.
James Mattin, managing partner of Bond Wolfe, said it was ideally suited for residential redevelopment, subject to planning consent.
It is part flanked by houses.
Mr Mattin said: “Just like lots of pubs many clubs have been struggling in the current difficult economic climate.
“This was a big club which required a lot of people to use it regularly if it was going to be able to pay its way.
“It is a pity but these are changing times.
“On the positive side, it is in a prominent position and well located for redevelopment. It is a real opportunity for a housing developer to pick up on, but other possibilities, such as a different type of leisure use, may also exist.”
The complex is still trading for the present as a function venue, but under different ownership.
Freehold offers are being invited either unconditionally or on a subject to planning basis.