After about two years on the market, the former Gobeil’s Furniture Galleries building, located on Route 100 south of downtown Gray, was sold in mid-April.

Advance Realty II, whose principals are Maine-based, bought the bank-owned property for an undisclosed amount. The 50,000-square-foot building in a commercial zone had been listed for more than $650,000.

Daren Hebold, owner of Lux Realty Group based in Portland, said his firm is working with Advance to fill the former furniture showrooms with new tenants. Hebold said Advance plans to use the basement for its own storage needs and lease the upper level for professional office use and possibly some retail.

“We’ll be marketing the upper levels for lease, mostly as office or retail use,” Hebold said. “We’re going to offer them, as I say on my roadside sign, at affordable rates.”

Hebold said the property was bank-owned for about two years since Ron Gobeil, in business at the site for 38 years, closed in 2011 when sales sank due to the recession.

Gobeil’s used to be a 3,000-square-foot egg-packing plant and apple orchard. Over the years, Gobeil added on to the building, which at its peak in 2007 sold more than $5 million worth of high-end furniture a year. In summer 2011, when the store closed, there were more than 50,000 square feet of tables, chairs, sofas, rugs, armoires and artwork.

Hebold said the building’s location between West Cumberland and Gray Center has potential for a professional office complex.

“I don’t think retail use is particularly conducive on that stretch of Route 100,” he said. “I think part of the reason [Gobeil’s] went out of business is because it’s not a great retail location. So, I think office use and a little bit of storage and warehousing is frankly going to be the predominant uses there.”

Hebold said he’s received some bites from prospective tenants.

“I already have three inquiries, and I do think we’re going to have a shot at getting some tenants here,” he said.

Beth Humphrey, Gray’s economic development director, said the town has already met with Advance Realty II and while no plans are in place for how to repurpose the sprawling complex, she’s glad to see some activity.

“We are very excited that the facility has been purchased. It’s a huge facility that has a lot of potential and it’ll be nice seeing some life coming back into that again,” she said.