Owners of the site, in Ocean Road, have listed it for sale with a starting price of almost £600,000, with the prospect of collecting rent worth tens of thousands every year.
At least one of the businesses currently operating from it has a lease until at least 2026, though there is also the prospect of the new owner converting the property into other uses.
South Shields brick company experiences record-breaking year
Jet2 unveils new winter sun flights from Newcastle Airport - where you can go and how to book
The Sea Hotel in South Shields on the market for £1.65million as estate agents seek new buyer after business goes into administration
Win tickets as well as food and drink vouchers to see top George Michael tribute Rob Lamberti at Stack Seaburn
Where is the cheapest petrol in South Tyneside? Eight stations to fill up at across the borough on August 8
According to details on the website of estate agency Christie and Co: “The property is held as an investment by the current owners, who collect a rent from three tenants.
“All existing tenants have expressed an interest in signing long-term agreements.
“However, our clients are mindful that a purchaser may seek vacant possession and so have deliberately held off signing longer leases.”
There are currently three separate businesses listed being based in the building, which has set potential buyers an asking price of £590,000.
As well as Roxanne’s, in the basement, other tenants include Can Can Bar and the Workwear and Schoolwear Company.
The latter has been based at the site since 2017, when it moved from premises at Westoe, but it has been trading in South Shields since the 1990s and has recently signed a six-year lease extension.
The listing adds: “Should the premises become vacant at any point, there may be scope to convert into office, retail or residential accommodation, subject to the necessary planning consents being granted.
“The former owners of the building has drawn up plans for residential conversion.
“These plans can be made available to interested parties on request.”
Roxanne’s has been a firm fixture of South Shields’ nightlife seen for decades, and the building was formerly home to nightspot Rupert’s.
The upper floor has been a drinking and dancing establishment in various guises in recent decades, including Ocean and Vogue.