The lease for Cirque club, in Queen Street, home to three clubs on one site, is going on the market for £175,000.
A spokesman for Christie and Co, specialist property advisers, said they hoped a buyer would keep it as a nightclub but admitted that was not a condition of the sale.
He said: "You can't rule anything in or out. However, having been told how well it is trading, we would be very surprised if they weren't taken over as a going businesses."
He told the Evening Times that the current lease still had 14 years left but was being sold because the leaseholders had decided "it was time for them to move on".
The Cirque site houses Cirque, Massa and Cellar Door, which occupy the basement and ground floors and are internally linked, although they operate as separate venues.
It hosted the 2013 Mobo After Party, with stars Tinie Tempah, right, Trevor Nelson and Rudimental.
Brian Sheldon, who works in the Glasgow office of Christie and Co, is handling the sale. He described it as "one of Glasgow's most stylish venues".
He said the club brought "lashings of glamour and an air of exclusivity to the Merchant City area".
He said: "With the ability to combine three venues into one, and being in one of the busiest streets in Glasgow, the business is trading well and has potential for further growth for any nightclub buyer, investor, operator or owner."
The club, which reopened in December 2012 after an extensive refit and several years standing empty, was previously home to the Yang nightclub.
The Christie spokesman said the late night nightclub sector nationally had suffered in recent years but they had "every reason to believe the clubs would remain as on-going traders".
He said some nightclub chains with more than one venue were doing well.
The lease for the building was taken over by Mark Loney, of Hyde Leisure, in 2012. He said at the time that they wanted to offer "something different".
He said: "We played around with a lot of names but given that we are under the old Archaos, which means French circus, we decided to pay tribute to it and call it Cirque, and the idea grew from there."
No one was available from Cirque to comment on the sale.
When the club opened, it employed 60 people and was credited as being one of several venues, including Strata and Sugar Cube, which were putting Queen Street back on the nightlife map.
The club is split into distinct areas with a mirrored dancefloor in the upstairs bar with a colour scheme of reds, golds and purples.
The downstairs bar boasts a huge chandelier and a room with silver-lined walls and LEDs.
Other spaces include a bright cocktail lounge and a VIP room. Customers can book a private booth.