Lodge member Kevin Wilson confirmed the building had been sold to developer Craig Mitchell, but he was unsure of the developer’s plans.
"I assume they will want the site for the land.
"There’s likely to be some sort of housing development there."
The lodge, which was built in 1925, had been a special place for the members, he said.
"It’s a sad day to see the lodge go, but the costs for running the place eventually got too high for our society.
"Some of our older members remember the early days of this building.
"At the moment, we're renting space at the Age Connect building in Mosgiel for two nights a month." he said.
There were about 30 members of the Mosgiel lodge.
"Masonic Lodge societies had their heyday in the years immediately after World War 2, but a lot of organisations have lost memberships over the years.
"Look at the decline of lawn bowls club memberships, for instance.
"In fact, in the past year we have had a few younger members join the lodge."
Bayleys Mosgiel declined to name the sale price, but said the offer could go unconditional in April.
