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.

"This is not something you can do without being a hands-on operator."

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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 underutilised 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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