Emma's Coffee Lounge is being marketed by business property adviser, Christie & Co.
Current owners, Michael and Sophia Mort have decided to retire, hence the sale.
In a joint statement, the couple said: “Emma's has provided us with some fantastic times over the years, it will be very emotional to see it move on, but we believe the time is right for new owners to take advantage of its huge potential.
“Thirty years ago, we entrusted the sale of our first business, an award-winning pub and restaurant, to Christie & Co, market leaders and professional agents for the catering industry, and we had no hesitation in turning to them for our retirement sale.”
Decorated in a contemporary style, with seating for over 100 covers, the property also benefits from two apartments which are currently leased out, providing extra income.
Emma's Coffee Lounge is one of the longest running cafes in Scarborough town centre and is based on Huntriss Row, the town's main pedestrian street.
Matthew Hendry, Business Agent at Christie & Co is handling the sale and comments, “Emma's Coffee Lounge provides an exceptionally rare opportunity to purchase a freehold building along the ever popular Huntriss Row.
“We expect the opportunity will generate a significant amount of interest from both branded and unbranded buyers.”
There are currently three major ongoing developments on Huntriss Row, including a Premier Inn. Christie & Co is seeking £500,000 for the freehold interest of Emma's Coffee Lounge.