The almost 35,000-square-foot building sits on a 3.36-acre lot at 376 Avenue of the Flags.
The restaurant's second location is up the coastline in Santa Nella -- about an hour's drive from Merced. It does not appear to be for sale, nor does Pea Soup Andersen's Inn -- a separate lodging property.
According to the Lompoc Record, the move is part of a long-term plan to revitalize downtown Buellton.
Radius Commercial Real Estate told FOX Business it was unable to discuss the listing.
Requests for comment were not immediately returned by Pea Soup Andersen's.
The famous road stop was founded in 1924 by European immigrants Anton and Juliette Andersen, though it has since changed hands.
The restaurant is currently owned by Milt Guggia Jr., whose father, a restaurateur, purchased both locations in 1999.
It remains a popular destination for those traveling to visit Hearst Castle and its website says it serves more than 2 million bowls of pea soup annually.