STOUGHTON — The historic Stoughton Railroad Station, opened in 1888 and entered into the National Register of Historic Places in 1974, is up for sale by the MBTA.

On Tuesday, approximately 50 residents attended a public hearing held by selectmen to see if there is support for the town to buy the property, which will come with 30 parking spaces, and the best uses for it.

State Sen. Brian Joyce, D-Milton, said the state transportation bond bill provides Stoughton with $175,000 toward the $350,000 asking price being offered by TRA, which manages the MBTA’s surplus property.

Joyce said the bill, which has been signed into law by Gov. Deval Patrick, also allows the town to pay for the station over 10 years.

“It’s going to be on your end, what you want to do,” he said. “You also have the option to say, ‘No thanks.’”

Town officials and an appraiser hired by the Stoughton Redevelopment Authority estimate it would cost an additional $350,000 to renovate the station building.

However, Joyce said he disagreed with that estimate.

“I would politely suggest that the appraisal for $350,000 in improvements is extraordinarily low,” he said.

Eliot Hansen said he would like to see the train station building used for commerce.

If the town were to buy the building, and fail to maintain or use it, that would be a waste of taxpayer money, Hansen said.

“It would be nice to see it in private hands,” he said. “I would like to see the building preserved and I’d like to see it used.”

Roberto Soto said the property should not be developed in isolation.

Soto said Stoughton’s restaurants are dispersed and that a redeveloped train station could be a focal point for a downtown restaurant district.

“We need to bring other businesses to town. The train station needs to be a starting point,” he said.

Ed DeFelice said commuter rail passengers should be allowed to wait inside the station for trains if a developer purchases the property.

“The best use of that station is for rail commuters,” DeFelice said. “What happens to the commuters? Are they, so to speak, left out in the cold?”

Peter Ventresco said the town would not be able to afford to maintain the station.

Ventresco said the town should let the private sector buy it.

He said that Honey Dew Donuts lost money when it operated inside the station.

“I’m sure a restaurant is not going to want commuters running in and out of there to use the restrooms,” he said.

Caren Klipp said the town should purchase the station and use it for town offices and for meeting space for local organizations.

“I believe we are making a good move by purchasing this building,” Klipp said.

Selectmen have until the end of October to let the state know if the town wishes to buy the property.