Southern Cross Care Tasmania has put the site of the former Mary's Grange Nursing Home in Taroona up for sale on the open market.
Mary's Grange has been vacated since 2021, after residents relocated to handpicked new homes as part of a review of operations undertaken by Southern Cross Care.
Chair Judith Fishlock said now was the right time to sell the site.
"The Mary's Grange site has operated as an aged care facility since 1957 and Southern Cross Care took over in 2016," Ms Fishlock said.
"Since residents vacated the site, the empty buildings have been targeted by senseless illegal entry and vandalism.
"This has negatively impacted the community, especially those who live close by on Grange Avenue as well as causing ongoing security issues."
Ms Fishlock said the proceeds from the sale would be used by the not-for-profit to help it continue its work delivering quality services to the aged and frail in the community.