The former Heinz tomato processing factory at Girgarre in the Goulburn Valley is on the market.
The factory's closure in 2012 caused a lot of community upset when 146 jobs were lost as the tomato sauce operation was moved to New Zealand.
Various attempts have been made to find a new use for the old factory over the past decade but now the sprawling factory is looking for an owner with fresh ideas.
Before it processed locally grown tomatoes into sauce and paste, the site was used to make butter and then cheese.
Heinz announced the factory's closure in May 2011, saying the cost of making the plant competitive in the price-driven grocery market had become too high.
Australian Consolidated Milk has set up a processing facility on the adjacent site.
Girgarre is 16km south-west of Kyabram and 27km east of Rochester.
Colliers Agribusiness is partnering with Gagliardi Scott Real Estate to sell the factory.
It is being offered as a vacant possession with "an opportunity for a range of different uses".
The factory site includes 9.2 hectares (23 acres) with a building area of 11,075 square metres.
Agents say there are a number of buildings on the site of various sizes.
The "significant" infrastructure includes extensive shedding, expansive yard area, multiple buildings offering various uses, security fencing, weighbridge and water infrastructure.
Agents say the diversity of the buildings was the strength of the property which they said provided a multi-purpose offering for investors or owner-occupiers alike "who can rapidly settle in or improve the infrastructure".
"The site is rare in that it is ready for a buyer to occupy, the existing premises is in sound condition and ready for varying uses," Colliers' sales and leasing executive Adele Foott said.
"Given the location and connection to existing agriculture and food processing within the region, it is an offering we are excited to bring to the market," she said.
"Recent transactions of similar properties indicate the desire for existing infrastructure that can be easily adapted or repurposed."
No suggested price has been offered for the factory which is for sale by expressions of interest closing Friday, May 24.
For more information contact Colliers agents - Adele Foott on 0447 518850 and Travis Hurst on 0423 388932 plus Rocky Gagliardi from Gagliardi Scott Real Estate on 0407 826542.