It is understood that the asking price for the 13,841 sq ft. property is set at €3.65 million.
Although the property has only recently been put on the market, property agent Chris O'Callaghan said: "there has already been a high level of interest".
The development, built by O’Callaghan Properties in 1984, includes 21 independent retail units and is offered for sale with the benefit of the existing occupants.
Paul Street Shopping centre also boasts Cork's largest multi storey car park with over 730 spaces in total.
The property is one of a number of other city locations currently advertised by Savills, including 92 Grand Parade, 33 North Main Street and 37 Patrick's Street.