The 10,000 sq ft ‘Unit 2’, on Astle Park in West Bromwich, is a grade II listed building dating back to 1883.
It was originally the new printing and publishing offices for stationary manufacturers Kenrick & Jefferson.
Bond Wolfe, which secured the sale to an anonymous purchaser, said it “had seen better days” and was in need of a complete refurbishment costing several hundred thousand pounds.
West Bromwich-based Bond Wolfe is also advising the buyer on the best way forward for the property which is close to the town’s new Tesco-led regeneration project.
Managing partner James Mattin said: “It has huge potential and the ability to feed off trade already well developed in and around the area.
“Anybody who has gone round it has been staggered at the quality of the work.
“There are still the original oak panelling, fireplaces and the K&J inscriptions above the doorways.
“But the problem has been finding someone with both the vision and the finance. It needs a lot spent on it.”