One of Wilmington’s most iconic and historic downtown structures will be headed to the auction block in May, according to an online notice.

Auction.com – an Irvine, Calif.-based firm that specializes in the auction of various real estate properties across the country – recently posted an online notice to sell off the Murchison Building at 201 N. Front St. in the heart of the central business district.

The property is currently owned by Charleston, S.C.-based Ziff Properties Inc., and has an occupancy rate of 47 percent.

Starting bid for the structure is $350,000, according to the auction site.

Online bidding for the 10-story, 61,000-square-foot office building is scheduled to begin  at 10 a.m. May 5 and close at 10 a.m. May 7, according to the notice. A second round of bidding will begin at 10 a.m. May 6 and close at 10 a.m. May 8.

According to the notice, the buyer has 30 days to close on the building once his or her bid has been accepted during online the auction. Auction.com officials will notify the winning bidder with a purchase agreement for the building, along with any additional information they may need to close on the site.

Ziff officials could not be reached for comment Friday.

Ziff Properties acquired the Murchison office building in the mid-1990s. The firm’s Wilmington portfolio also includes The Village at Myrtle Grove shopping center in Monkey Junction and the Smith Creek Center near Wrightsboro.

The company announced in late 2013 that it had listed the building for sale with a commercial brokerage firm.