The Earl of Pitt Street, on Pitt Street in Newcastle, was originally listed by estate agents Christie & Co for upwards of £550,000, with the latest listing seen on Rightmove being listed for just £400,000.
Highly rated on TripAdvisor, the pub is known for its mix of British pub classics and Asian fusion dishes.
It also offers a catering option for private events and functions.
The estate agent said: "The Earl of Pitt Street is a prime example of a well-operated city centre pub which serves up excellent food and pulls a great pint."
A late Victorian red brick corner pub, it is the last remaining pub at the old Newcastle Brown Ale brewery site according to the agents.
The pub's "Alfred Hitchcock meets Vivienne Westwood" style of décor is said to be well-presented throughout.
The ground floor comprises a bar area with a mix of sofas, tables and chairs for around 35 covers.
The first floor houses a restaurant with seating for around 55 covers.
It also has a commercial-grade kitchen, cellar, cold room, storage, office and customer WCs.
Most of the fixtures and fittings are owned outright and will be included in the sale, subject to an inventory.
The pub is popular with locals and tourists alike, benefiting from trade on match days due to its proximity to St James' Park.
According to the estate agent, the pub had a turnover of around £618,000 net of VAT for the year ending November 2023, with the year ending November 2024 forecast to be £720,000 net of VAT.
The Earl of Pitt Street presents a "fantastic opportunity" for an owner-operator to continue its current success, or for an expanding regional operator looking to grow their portfolio.
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The pub is currently operated under management with a strong team in place.
Its opening hours are Wednesday to Saturday from 12pm to 10.30pm, and Sunday from 11.30am to 7pm.
The restaurant opens the same days, but closes earlier at 8pm, and at 5pm on Sundays.