ROCKLAND — The downtown building which has housed the Brass Compass for the past 20 years has been sold.

Lynn Archer sold 305 Main St. on Nov. 1 to Tres Comas, LLC of Portland; RSP Main 1, LLC of South Berwick; and RSP Main 2, LLC of South Berwick.

The paperwork for Tres Comas was signed by Josh Soley of Maine Realty Advisors, while the managers of RSP (property developers Remington Street Properties) are James Henry and Rebecca Henry of South Berwick. Soley is the majority owner.

Soley said he plans to lease the property to a restaurant or retail business, but there are no tenants yet.

“I’ve been looking to expand my portfolio to the Rockland area,” Soley said Wednesday, Nov. 3. “It’s a cute stand alone building with history.

The two-story wooden building survived the massive fire of Dec.13-14, 1952, that destroyed numerous buildings around the intersection of Park and Main streets all the way to Myrtle Street. Two large hotels and a furniture store were among the businesses destroyed in the inferno.

The group paid $399,000 for the property which the city has assessed at $411,100.

Archer closed the Brass Compass on Nov. 1. She continues to operate Archer’s on the Pier on the waterfront in Rockland.

Archer opened the Brass Compass in September 2001 and purchased the property in January 2012.