The building, currently occupied by JG King Homes and Hertz Car Rental, was the location of the city's first Kentucky Fried Chicken store.

First National Real Estate director Christine Steere said the property on Raglan Parade, Foster Street and Johns Lane was the the only property on the market with triple road access.

"It was the first site for KFC in town, so it's very fondly remembered by many," Mrs Steere said.

The property at 427 Raglan Parade is on two titles and has a site area of 631 square metres. The 460-square-metre building includes offices, staff amenities and warehousing.

The adjoining site, at 429 Raglan Parade, is vacant and measures 576 square metres. Together they boast a 26.3-metre highway frontage.

Mrs Steere said the site was currently leased to JG King Homes and Hertz Car Rental with a combined annual net rental income of $58,700.

She said the site could be used for a retail food outlet with the three access points useful for a franchise group wanting to have a drive-through restaurant.

It is also a stand-alone site which appealed to fast food franchises wanting to be separate from competitors.

She said it was a rare opportunity and the vacant property could be redeveloped, subject to council approval.

Mrs Steere expects a wide range of interest from both south-west and metro buyers. "A lot of national retailers have found us, we're finally on the map population wise," she said.

"We've hit the mark where they're interested in coming our way. A lot of them for a number of years haven't.

"We've been on the radar somewhere in the future but now they're finding Warrnambool to be viable and it's a hotspot as a regional town. We've finally made it.

"They've been watching but we're finally there. It's very exciting."

It is for sale by expression of interest by August 19.

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