Building Details

Year built 1972

Flooring type Wood, Carpet

Building materials Wood Frame, Vinyl Siding

Roof type Metal

Listing Agency: RE/MAX Shoreline · RE/MAX International d***@homesinmaine.com Show Phone

Listed By: Robert Whisenant Show Phone

Added: Jul 11 Changed: Oct 8 Last Checked: Oct 18 at 4:06PM

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MLS# 1661714

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Investment Insights

Based on property information with market context.

Set on 200 acres of woods, streams, and small fields, this mixed-use property pairs a residence with substantial work and storage improvements. The 3,048-square-foot home includes 3 bedrooms, 2.5 baths, a dining room, dedicated office, and two lofts. Wood finishes, natural light, carpet and wood flooring, forced-air, wood, and oil heating, plus a metal roof complete the interior and building profile.

A full workshop supports project and fabrication needs, while the detached garage has 10-foot and 12-foot overhead doors, a hydraulic car lift, and room for trucks, machinery, recreational vehicles, or commercial tools. Private water and private sewer serve the property, which is zoned Gen Dev/Rural. Located at 56 Buzzell Lane in Greene, Maine, the parcel offers a combined residential, workspace, and equipment-storage configuration.

Key Highlights

• 200 acres with woods, streams, and small fields
• 3,048‑square‑foot residence with 3 bedrooms, 2.5 baths, an office, and two lofts
• Detached garage with 10‑foot and 12‑foot overhead doors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$49,390

Cap Rate

6.59%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$987,800 $987.8K

Cap Rate 7%

$705,571 $705.6K

Cap Rate 9%

$548,778 $548.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,048 SF

Gross rent

$75.3K $24.72/SF

− Vacancy

−$9.5K −$3.11/SF

EGI

$65.9K $21.61/SF

− OpEx

−$16.5K −$5.40/SF

NOI

$49.4K $16.20/SF

Area

Androscoggin County, ME

Vacancy

12.60%

Lease Rate

$24.72 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$987,800

Cap Rate 7%

$705,571

Cap Rate 9%

$548,778

Alternative Uses

Best Use

Office B

$705.6K

$617.4K – $823.2K (±1% cap)

NOI $49,390 @ 7.0% cap · market cap 6.59%

Second Best

Mixed Use

$513.8K

$449.5K – $599.4K (±1% cap)

NOI $35,963 @ 7.0% cap · market cap 4.80%

Theoretical Best

Warehouse

$5.41M

$4.74M – $6.32M (±1% cap)

NOI $378,943 @ 7.0% cap · market cap 50.53%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Live-work space

Suggested Use

Top Pick Building Supply Storage Facility Electrical Service Hair Salon Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

15

Businesses Nearby

Explore this area Business Placement

Demographics for 04236, ME

4,376

Population

1,847

Households

2.4

Avg Household Size

46

Median Age

20%

College-Educated

94%

High-School Grad

32.3 sq mi

ZIP Area

135

Density / Sq Mi

$91,736

Median Household Income

$49,705

Median Earnings

$1,106

Median Rent

$238,700

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - A live-work property combines residential amenities with workshop, storage, and detached garage functionality.

Where is this mixed-use property located?

The property is located at 56 Buzzell Lane Greene, ME.

What is the asking price?

The asking price for this property is $749,900.

What are key features of this property?

This property features: 200 acres with woods, streams, and small fields; 3,048‑square‑foot residence with 3 bedrooms, 2.5 baths, an office, and two lofts; Detached garage with 10‑foot and 12‑foot overhead doors