Ameobi still wants to continue playing, as he was released by Notts County in League Two.
The 36-year-old managed 10 goals for County in 51 games last season.
As a free agent, he wants to secure a good deal. But admits that coaching could be his calling in the future.
"I'm doing bits and bobs," Ameobi told Soccer AM, per Sky Sports.
"I made a decision with the family that I wanted to be closer to Newcastle, which obviously limits the clubs you can look for.
"I've kept myself fit and I haven't retired officially. It would have to be the right club. It's not something I'm actively pursuing but if something came up I'd definitely be ready.
"I've had to think about the future. I've done all of my coaching badges and A Licence," he continued.
"I've been coaching with the academy for years now since I was at Newcastle. I enjoy passing on what I learnt because I grew up in that academy and have a lot of experiences."