Clive Emson Auctioneers has listed the freehold building at 7-9 High Street in its September auction, with a guide price of £220,000 to £240,000.
The property, which is up for auction for the second time after not selling in July, has consent for residential use and could be converted into three two-bedroom units.
Senior auction appraiser for Dorset, Mike Marchant, said: “Within a stone’s throw of the bridge which features in the painting by John Constable, the building has consent for conversion to three two-bedroom units.
“Once completed, the units will be suitable for resale into the local market or for retention as letting investments.”
The property is listed among 191 lots across southern England in the auction, which ends on Thursday, September 18.
Bidding opens 48 hours prior to the auction’s conclusion.