The Little Civic in Wolverhampton has been put up for sale after the building's owner moved out of the city to pursue other business interests.
The North Street venue, which was formerly run by Wolverhampton Council, was a top indie club for years and hosted hundreds of bands. It is currently run as Blossoms under tenancy.
Sean Westwood, who took over as landlord of the venue around five years ago, said there had already been plenty of interest.
"I've moved out of the area now and it's time to sell the Little Civic," said the 28-year-old, who is starting a new nightclub in Bristol later this year.
"I leave a lot of good memories there. It's been a great indie club in the city where plenty of bands have played over the years.
"It will be sad to see it go but it is time to move on."
The venue, which was formerly the Town Hall Tavern, closed in 2009, with the Little Civic moving to the Slade Rooms on Broad Street the following year.
It has operated under several names since, including Loose Lucee's and Numa Bar.
It was taken over by the city council in 1999 and hosted Coldplay in that year, followed by Kaiser Chiefs in 2004. Arctic Monkeys played there in 2005 before selling out the Civic Hall the following year.
It is due to go up for auction with Bond Wolfe on July 21.
Mr Westwood also sold the Dog & Doublet last year.