The vendors of the Woodman Inn have invested seven years in developing its popular food trade, according to its selling agent.
Stewart Harkness, of the Milton Keynes office of Christie & Co, said: "The vendors have built up an excellent reputation as a highly sought-after pub, catering for lunchtime and evening trade.
"The pub on the outskirts of South Mimms close to the A1 in Hertfordshire is popular at the weekends with the benefit of its carvery.
"There is also an opportunity to cater for external events such as weddings and private functions as there is scope to erect a marquee with a capacity of 200."
Built in 1664, it comprises of an upper lounge bar, a lower lounge bar and a 66-cover carvery restaurant. Both the lounges have feature fireplaces and the restaurant features exposed beams and brickwork.
The owner's accommodation is set over two floors and offers three bedrooms, office/kitchen and lounge.
A separate external staircase leads to a self-contained manager's apartment with a double bedroom and shower room.
There are two car parks providing a combined space for up to 100 vehicles, a double garage and an enclosed compound. At the rear is a paved area and extensive lawn overlooking a two-acre paddock.
"Trade split is currently 50/50 and it is felt that the food trade could be expanded further with the completion of the first-floor restaurant area to provide an extra 30 covers," Harkness added.
Christie & Co has set a guide price of £1.3m for the freehold interest.