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 d***@homesinmaine.com Show Phone

Listed By: Robert Whisenant · License #BA904574 Show Phone

Added: Jul 11 Changed: Aug 19 Last Checked: Aug 22 at 5:06AM

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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.

For sale warehouse property on approximately 200 acres featuring woods, streams, and small fields, paired with a residential home. The property includes a full workshop and a large detached garage equipped with 10-foot and 12-foot overhead doors, along with a hydraulic car lift for vehicle and equipment handling.

The home offers 3 bedrooms and 2.5 baths, with a dining room, a dedicated office, and two lofts providing flexible additional space. Interior details include warm wood finishes and generous natural light, supporting a rustic-modern feel.

Zoned “Gen Dev/Rural,” the setting is surrounded by open land, woods, and privacy offered by a large parcel, with the property located at 56 Buzzell Lane in Greene, Maine (04236).

Key Highlights

• Over 200 acres of woods, streams, and small fields
• 3‑bedroom, 2.5‑bath home with dedicated office, dining room, basement, and two lofts
• Detached garage with 10‑ft and 12‑ft overhead doors plus a hydraulic car lift

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

$35,963

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

4.80%

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%

$719,260 $719.3K

Cap Rate 7%

$513,757 $513.8K

Cap Rate 9%

$399,589 $399.6K

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

$65.8K $21.60/SF

− Vacancy

−$8.3K −$2.72/SF

EGI

$57.5K $18.88/SF

− OpEx

−$21.6K −$7.08/SF

NOI

$36.0K $11.80/SF

Area

Androscoggin County, ME

Vacancy

12.60%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

37.50%

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%

$719,260

Cap Rate 7%

$513,757

Cap Rate 9%

$399,589

Alternative Uses

Best Use

Mixed Use

$513.8K

$449.5K – $599.4K (±1% cap)

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

Second Best

Apartment 5plus

$408.0K

$357.0K – $476.1K (±1% cap)

NOI $28,563 @ 7.0% cap · market cap 3.81%

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.

Property Analytics

Property Profile

Current Use

Single family properties

Suggested Use

Top Pick Storage Facility Big Box & Wholesale Store Electrical Service Real Estate Agency

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

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Spacious parcel with workshop and a detached garage featuring tall overhead doors and a hydraulic car lift.

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 of woods, streams, and small fields; 3‑bedroom, 2.5‑bath home with dedicated office, dining room, basement, and two lofts; Detached garage with 10‑ft and 12‑ft overhead doors plus a hydraulic car lift