Mixed-Use Property with
New
For Sale
$749,900
56 Buzzell Ln, Greene, ME 04236
Residential improvements combine dedicated office space, storage, and substantial outbuilding capacity on a wooded rural parcel.
Property Size3,048 SF
Price / SF$246.03
Days on Market2
Property Features for 56 Buzzell Ln
General Information
Standard status
Active
Size
3,048 SF
Amenities
hydraulic car lift
Building Details
Year Built
1972
Listing Agency:
RE/MAX Shoreline
Listed By:
Robert Whisenant · License #BA904574
(207) 725-8505
Source:
Soldbymichaelthomas
Added: Sep 1
Last Checked: Sep 1 at 9:11PM
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 combines a residence with dedicated work and storage improvements across more than 200 acres in Greene, Maine. The home, built in 1972, includes 3 bedrooms, 2.5 baths, a dining room, office, and two lofts. Wood finishes and abundant natural light shape the interior, while the surrounding land includes woods, streams, and small fields.
A full workshop supports project and fabrication needs, and the detached garage includes 10-foot and 12-foot overhead doors, a hydraulic car lift, and room for trucks, machinery, recreational vehicles, or commercial tools. The combination of residential space, workspace, and large-parcel setting provides a single property for living, working, and equipment storage.
A full workshop supports project and fabrication needs, and the detached garage includes 10-foot and 12-foot overhead doors, a hydraulic car lift, and room for trucks, machinery, recreational vehicles, or commercial tools. The combination of residential space, workspace, and large-parcel setting provides a single property for living, working, and equipment storage.
Key Highlights
- >200 acres with woods, streams, and small fields
- Residence includes 3 bedrooms, 2.5 baths, office, dining room, and two lofts
- Full workshop for projects and fabrication work
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Residential improvements combine dedicated office space, storage, and substantial outbuilding capacity on a wooded rural parcel.
Where is this mixed-use property located?
The property is located at 56 Buzzell Ln 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; Residence includes 3 bedrooms, 2.5 baths, office, dining room, and two lofts; Full workshop for projects and fabrication work
