The Lion Hotel in Llandinam, Powys, close to the former home of 19th Century industrialist David Davies, was purchased more than two years ago.
It had previously been run as a successful restaurant and bar alongside the main A470 in the small village, attracting locals and tourists, before it closed in 2018.
Andrew Turner, a partner at estate agents Morris, Marshall, and Poole, said the owners, Mid Wales Leisure, had invested a significant figure in the renovation of the building.
It used a professional pub interior designer to undertake the interior design.
"The Lion Hotel is a well-known 18th Century pub and restaurant due to its location alongside the main North-South Wales A470 trunk road close to Llanidloes and Newtown. Since purchasing it, the owners had the intention of completely modernising and renovating before placing it on the market as a business investment," said Mr Turner.
"The result is stunning. It offers someone looking for a lifestyle change, or a family looking for a business opportunity the chance to move into a venue that is ready to open."
The hotel now includes a new bar and restaurant, two en-suite letting rooms, three/four-bedroom managers apartments together with two residential one and two-bedroom apartments.
There are also five caravan pitched beside the River Wye which runs near to the pub. A beer garden has also been created.
"The property has a beer garden to the side, an extensive carparking, place for a marquee to be erected for larger functions, in all the hotel stands in grounds of 2.6 acres," added Mr Turner.
"Prior to the current owners purchasing the property the hotel was successfully run with a good reputation for good food and hospitality.
"There are a number of tourist attractions nearby within one hour away, Clywedog reservoir, Hafren Forest, Powys Castle, coastal resorts of Aberystwyth and Aberdyfi, Plynlimon range together with numerous walks, cycle and nature trails.
"The area benefits from tourism and draws tourists into the area for activities such as shooting, fishing, cycling, walking."
The venue is on the market for £695,000.