Known as the Temple Gallery, the building in Moray Pl, Dunedin was home to the world's southernmost synagogue and went on to become one of the largest freemasons' temples in the country, according to Historic Places Trust research, which lists it as a category one building "of outstanding historical significance".
The two-storey 960sq m building had high-studded solid concrete walls and plaster ceilings and retained much of the detailed ornamentation from both its synagogue and later freemasons' temple extensions, Bayleys Dunedin director Robin Hyndman said.
"The apartments could be combined into one residence of considerable proportions. The commercial premises could be maintained as either an art gallery or for potential conversion into a retail site or cafe," Mr Hyndman said.
Tenders for the building, which has a capital value of $460,000, close on November 7.
Mr Hyndman said the "masterpiece of Victorian architecture" was expected to have a high "curiosity interest" among historians, students studying religion and interior designers around the country. Interest was expected from a broad cross-section of people, given the building's potential multipurpose uses, he said.
The synagogue was designed by New Zealand's first colonial architect, Henry Clayton, who was also involved in other landmark Dunedin buildings such as the All Saints Church in Cumberland St and the former Port Chalmers Post Office, now the Maritime Museum.
Mr Hyndman said the building opened as a synagogue in 1864, making it the oldest synagogue in New Zealand. It was expanded in 1872 by architect David Ross, before being converted in 1881 to a masonic hall, which it remained for the next 111 years.
The building was bought in 1992 by husband and wife developers and art dealers Peter Duncan and Victoria Timpany, who retrofitted the interior into apartments and an art gallery. Mr Duncan died in 2005.
The building retained a Jewish Ark, or ornamental closet, which once housed the synagogue's sacred scrolls, while additional redecoration of the central area featured many freemasons' symbols, including the all-seeing eye, Mr Hyndman said.
"The interior ornamentation of the temple is richly detailed and dramatic. The effect is awe-inspiring," the trust said in a statement.
Along with being the oldest synagogue in New Zealand, the building is one of only two still existing from the Victorian era.
