Leonard Riggio, the founder of Barnes & Noble, wants to buy back a slice of the bookseller he founded more than 40 years ago.

But he doesn't want anything to do with the Nook — just the stores and website.

So, what's the Barnes & Noble retail arm actually worth?

By some measures, Barnes & Noble's retail business may be worth "virtually nothing," Michael J. De La Merced at DealBook reported.

The overall company is valued at around $863 million and its total enterprise value is about $1.3 billion, according to S&P's Capital IQ.

In 2012, Microsoft and Pearson bought a 23 percent chunk of the Barnes & Noble's Nook division last year, which valued it at nearly $1.8 billion.

Obviously, Barnes & Noble won't just chuck its retail division away to its founder for free. It has nearly 700 stores and an e-commerce business.

But will it be able to sell it at a decent price?