Mixed-Use Property with
For Sale
$749,900
56 Buzzell Lane, Greene, ME 04236
Commercial Sale, Greene, ME
Property Size3,048 SF
Lot Size200.00 Acres
Price / SF$246.03
Days on Market55
Property Features for 56 Buzzell Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Gen Dev/Rural
Rooms
Basement
Basement
Partial, Unfinished
Lot features
Rural
Standard status
Active
Size
3,048 SF
Lot size
200.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6974
Utilities
Sewer type
Private Sewer
Heating system
Forced Air, Wood, Oil
Water source
Private
Amenities
workshop
detached garage
hydraulic car lift
Building Details
Year built
1972
Flooring type
Carpet, Wood
Building materials
Wood Frame, Vinyl Siding
Roof type
Metal
Listing Agency:
RE/MAX Shoreline · RE/MAX International
(207) 553-7500
Listed By:
Robert Whisenant · License #BA904574
(207) 751-7231
Added: Jul 11
Changed: Aug 19
Last Checked: Sep 3 at 7:06AM
MLS# 1661714
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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.
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$49,390
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.59%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$987,800
$987.8K
Cap Rate 7%
$705,571
$705.6K
Cap Rate 9%
$548,778
$548.8K
Market Conditions
NOI Build-Up for 3,048 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
NOI $49,390 @ 7.0% cap · market cap 6.59%
Second Best
Mixed Use
$513.8K
$449.5K – $599.4K
NOI $35,963 @ 7.0% cap · market cap 4.80%
Theoretical Best
Warehouse
$5.41M
$4.74M – $6.32M
NOI $378,943 @ 7.0% cap · market cap 50.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
