The water tower has been disused for several years
The Ministry of Defence (MoD) is selling a water tower and nearby pump house at the former RAF Locking base near Weston-super-Mare in Somerset.
The disused tower, built in the 1940s, is believed to have been designed to look like a church tower to disguise the location of the nearby airfield.
An MoD spokesman said the sale provided "an excellent opportunity for an inspired developer".
The buildings will be auctioned in London on 17 September.
Martin Lloyd, of the MoD's Defence Estates, said: "The proposed sale of the water tower and pump house provides an excellent opportunity for an inspired developer to acquire this landmark and take it on as a creative renovation project.
"The site is well known locally and should attract some strong bids."
Auctioneers Andrews Robertson are handling the sale.