
Land for Sale in Portland, Maine
494 Island Ave, Portland, ME 04108
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
- County
- Cumberland County
- Zip code
- 04108
- Elevation
- 16 feet
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
| Date | Event | Price | Change | Source |
|---|---|---|---|---|
| Nov 9, 2026 | New listing | $879,999 | — | MREIS |






































