Mixed-Use Property with
For Sale
$749,900
56 Buzzell Lane, Greene, ME 04236
Rural mixed-use property combining a residence, substantial workspace, equipment storage, and more than 200 acres of varied land.
Property Size3,048 SF
Days on Market103
Property Features for 56 Buzzell Lane
General Information
Standard status
Active
Size
3,048 SF
Property subtype
Commercial
Zoning
Gen Dev/Rural
Taxes and HOA fees
Annual Taxes
$6,974
Building Details
Building Size
3,048 SF
Year Built
1972
Listing Agency:
RE/MAX Shoreline
(207) 751-7231
Listed By:
Robert Whisenant · License #BA904574
(207) 751-7231
Source:
Startpoint
Added: May 12
Changed: Aug 19
Last Checked: Aug 21 at 2:46PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Shoreline
Investment Insights
Based on property information with market context.
This mixed-use property pairs a residential home with substantial workshop and storage improvements. The residence includes three bedrooms, 2.5 baths, a dining room, dedicated office, and two lofts. A separate garage features 10-foot and 12-foot overhead doors, a hydraulic car lift, and capacity for trucks, machinery, recreational vehicles, or commercial tools. The property also includes a full workshop for projects and fabrication needs.
Located at 56 Buzzell Lane in Greene, Maine, the property encompasses over 200 acres with woods, streams, and small fields. Gen Dev/Rural zoning and the combination of living, working, and storage areas create a broad mixed-use configuration. Built in 1972, the home includes wood finishes and abundant natural light throughout the interior.
Located at 56 Buzzell Lane in Greene, Maine, the property encompasses over 200 acres with woods, streams, and small fields. Gen Dev/Rural zoning and the combination of living, working, and storage areas create a broad mixed-use configuration. Built in 1972, the home includes wood finishes and abundant natural light throughout the interior.
Key Highlights
- Over 200 acres with woods, streams, and small fields
- Detached garage with 10‑foot and 12‑foot overhead doors
- Hydraulic car lift included in the detached garage
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
Industrial
$4.46M
$3.90M – $5.20M
NOI $312,071 @ 7.0% cap · market cap 41.62%
Second Best
Office B
$705.6K
$617.4K – $823.2K
NOI $49,390 @ 7.0% cap · market cap 6.59%
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 - Rural mixed-use property combining a residence, substantial workspace, equipment storage, and more than 200 acres of varied land.
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: Over 200 acres with woods, streams, and small fields; Detached garage with 10‑foot and 12‑foot overhead doors; Hydraulic car lift included in the detached garage
