Yes, but before I took the set to a model train dealer I would check the basics. Depending how the unit is stored I would assume that corrosion(oxide) has built up between the electrical components.
This is so common that it can be assumed to be a normal maintenance activity.
The connections from the power to the track, between the tracks and between the engine wheels and the track.
Setting up on a table top allows for convenient troubleshooting.
A voltmeter provides a good tool for efficient analysis of the electrical circuit.
Using a soft cloth rub/polish the rails to eliminate oxide/grime built up.
Use an eraser to scrub the connections between the rails,
I've included several links to provide you with examples of problems and solutions.
Hope this helps?
Troubleshooting Ready To Run Lionel Train Sets
Setting Up Your Lionel Train Set
How To Fix Problem With Lionel Fastrak With Voltage Drop Fastrack Connection Pin Fix