The Lord Tennyson pub in the city is to let, but the owners are confident it will continue to be a public house.
The Lord Tennyson on Rasen Lane is to let, but owners Punch Taverns say the building is already under offer and will continue to be a public house.
Punch Taverns have several other pubs scattered across the county which need to be leased if the licensing trade is going to survive.
The Federation of Small Businesses say that one of the reasons behind the failure of pubs is the tie many of them have with specific breweries, meaning they cannot shop around for booze bargains.
David Dexter, Lincolnshire Region Chairman for the FSB said: "With 40 pubs closing every week, it's time the Government took urgent action to stop the trend.
"The single biggest reason for this dramatic rate of pub closures is the tie.
"Britain is on the brink of losing its traditional community hub – the British pub – and it is time for action."
Punch Taverns assured the Echo that there was an element of flexibility with all their pubs depending on the level of investment and what the tenant wanted to achieve from running the business.
Other pubs up for lease through Punch Taverns include The Cherry Tree in Cherry Willingham and the Bell Inn in Coleby.
It also recently let out the Marquis of Granby in Waddingham, near Gainsborough.