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Land for Sale in Portland, Maine

494 Island Ave, Portland, ME 04108

$879,999
0.9 acres
Active sale
ago
Est $7,224/mo

Here's your opportunity of a lifetime and it's the perfect time to buy so you have the winter to plan and permit. This spectacular Peaks Island waterfront lot with an existing cottage, a sandy beach (a rarity on the island) and approximately 220 feet of oceanfront with sweeping views of Casco Bay and Diamond Pass. This private 0.90-acre Casco Bay property offers panoramic water views and room to explore a renovation, addition or custom-home rebuild. There's potential for a mooring or dock. Buyers should independently verify what's possible under applicable shoreland requirements and approvals for this large lot, as well as the feasibility of a dock. A property survey and preliminary correspondence from the City of Portland are available to help buyers get started. An introduction to a Peaks Island contractor who has already walked the property is available for buyers who want to discuss what an island build could look like. Or, if customizing a modular home is a route you'd like to explore, I can also introduce you to a company with experience constructing on the island. This extraordinary property is truly magical and needs to be seen to be appreciated. Come walk the shoreline and see what makes this setting so special. For info and to schedule a virtual or in-person showing call Shay Johnson.

Location

Street address
494 Island Ave
Zip code
04108
Elevation
16 feet
Coordinates
43.6679, -70.1925

Property details

Lot size
0.9 acres39,204 sq ft
Zoning
IR-2, Shoreland
MLS #
MREIS 1687318
Posted

Property taxes

2025
$12,369

Details and features

Listing

Type
Land

Lot

Waterfront
Ocean Front
Features
Level, Near Public Beach, Open

Structure

Water
Public
Sewer
Septic Tank

Listing history

DateEventPriceChangeSource
Nov 9, 2026New listing$879,999—MREIS
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This 0.9-acre property is located at 494 Island Ave in Portland, ME 04108. The land is available for sale, priced at $879,999.

Listed by Locations Real Estate Group, (207) 805-1811

Checked 1 hour agoUpdated Source

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