Suffolk Police is considering selling its headquarters to housing developers in order to "save money that can be reinvested into police services".
The plan to redevelop the Martlesham Heath site, near Ipswich, would see the force relocate to a "more fit-for-purpose premises".
The proposal has been revealed by Suffolk's Police and Crime Commissioner (PCC) Tim Passmore.
The plan would mean about 250 homes could be built at Martlesham.
No sale price has been put on the existing HQ yet.
Mr Passmore, who has appointed a team of consultants to look into the redevelopment, said "nothing is set in stone and we really are fact-finding at the moment".
He said: "We need to understand the value of the site, were planning permission for housing to be granted - so that we can then make a decision as to whether it should be sold.
"We look forward to sharing initial plans with the local community and listening to people's views before any decisions are made."
The force said the current headquarters has annual running costs of about £1m.
Any potential sale would not have an impact on job numbers, Mr Passmore said.
If the proposals move ahead, outline planning permission is expected to be submitted to Suffolk Coastal District Council later this year and the construction of the new homes is likely to take about five years.
It is not known where the new headquarters would be, or whether it would be in a new or existing building.
The public is being invited to an exhibition at Martlesham Heath Pavilion on Monday, 18 June and people have can register their comments on the plans.