A community project is hoping to raise enough money through selling shares to buy and rejuvenate part of Cardigan town centre.
Backers of the scheme are aiming to buy the old farmers' co-op and surrounding buildings.
They plan to use some of the land to create cheap parking for up to 100 cars to boost High Street traders.
They also hope to develop a community shop on the site to promote local goods and produce.
Cymdeithas Cynnal a Cefnogi Cefn Gwlad, which translates as the Society to Sustain and Support the Rural Countryside, is aiming to issue 900 shares at £500 each.
It says the price of the vacant site is likely to be just over £300,000.
Town councillor Shan Williams, who is behind the idea, said: "The idea is to support the High Street and not be in competition with it.
"Hopefully the people of Cardigan and the surrounding area will support us."
She said the priority was to create car parking for up to 100 vehicles to make it easier for shoppers to visit High Street.
Phase two involves opening a community shop to showcase locally made goods and produce.
The not-for-profit consortium has the backing of the town's chamber of commerce and local assembly member Elin Jones.
She said: "This site is a really important site in the centre of Cardigan and it is in need of development and putting back into active economic use."