The former Narrawong Store, which closed its doors in early 2017, will go under the hammer at 12.30pm.

A1 Real Estate Solutions agent Michael Goldby said there had been a number of inquiries about the property from Melbourne and interstate.

Mr Goldby said land in Narrawong was being snapped up at a fast rate over the past 12 months.

"Blocks of land are selling as fast as we list them," he said.

Mr Goldby said the seaside town offered the perfect lifestyle and more people were realising they could relocate from cities and work from home.

He said the 5896-square-metre block offered a number of opportunities.

Mr Goldby said it could be re-opened as a store and residence beside or the site could be redeveloped.

He said he expected a number of bidders on the property on Friday.

"It's a great location that's within walking distance to the beach and caravan park," Mr Goldby said.

He said interest in property across the south-west was high.

"The interest in all types of property, including farmland and lifestyle blocks is exceptional," Mr Goldby said.

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