The Grapes Hotel on Victoria Street and its outside courtyard are being advertised for sale as a whole or separately through Galloway and Ayrshire Properties.
The hotel has stood empty for some years and has been a cause for concern amongst members of the community who feel it could be hindering tourism levels.
Further fears were raised last year when a piece of masonry fell onto the pavement below the building, suggesting it was beginning to become unstable.
Proposals for development of the derelict building and its rear courtyard have been made by the sellers, which would see four terraced houses to the rear and a themed restuarant with bar in the former hotel. Behind this would be retail units and the opening up of a currently closed-off gated pend onto the main street, which would be cobbled and lead to car parking spaces.
The selling price for the property has not been publicly revealed, but interested parties are being advised: "Price on application."