The underground toilet is being marketed by Clarke and Lloyds Property Consultants as a potential venue for a restaurant or a bar, despite having only 600 square feet of floor space and room for up to 60 customers.
The toilet was converted into a nightclub named Public Life in the early 2000s, but the venue was shut down by Tower Hamlets Council in early 2012 due to a number of complaints about drug and licensing issues and anti-social behaviour.
It has stood empty ever since but is now back on the market, described as a "charming and quirky" venue that could be a "fantastic opportunity" for would-be toilet owners.
Located opposite the redeveloped Spitalfields Market and Hawksmoor Church, the former convenience is at the heart of east London's nightlife scene.
However, the location comes at a price - as the Guardian reports, the £1 million asking price is more than three times higher than the venue's value in 2000, when it was last believed to have been sold.
If the property is redeveloped into a drinking spot, east London could have an answer to Kentish Town's Ladies and Gentlemen - a tiny cocktail bar and working distillery crammed into a public toilet underneath a road junction.