Photo courtesy of Colliers

Educational institutions and private developers are expected to be among the bidders on the Matignon High School property in Cambridge.

Colliers is marketing the 7.7-acre campus in North Cambridge for lease. The school closed in June after operating for 76 years on Matignon Road, prompting the Archdiocese of Boston to offer the property.

The property has an assessed value of $32.3 million, according to Cambridge assessors data, but also has redevelopment potential utilizing the undeveloped areas, including playing fields located between Endicott and Clarendon Avenues.

If the buyer seeks to redevelop the property, “there will be a robust conversation given the zoning and the neighborhood,” Colliers Vice Chair James Elcock said. “But the property has some setbacks and nice open space. It’s not a confined site, and I think it could be master planned properly without overwhelming the neighborhood.”

The offering includes the 80,036-square-foot Art Deco high school building completed in 1947 along with a small administration building.

“This would be a very typical institutional property where a lot of users will absolutely take a look at it and make an assessment,” Elcock said.

Following a global marketing campaign, Colliers will seek offers in late October.

Local educational institutions’ prime real estate has attracted strong interest from private developers, including Skanska’s 1.7 million-square-foot redevelopment of Simmons University’s residential campus.

Wentworth Institute of Technology is seeking approval for a 640,000-square-foot office-lab development at its Mission Hill campus in partnership with The Fallon Co., The Owens Co. and Waldwin Group.