494 Island Ave
Portland, ME 04108
For more information on this listing, contact us at: (207) 272-2202
Active
$879,999
494 Island Ave Portland, ME 04108
Lots And Land
Property Type
0.9
Acres
Cumberland
County
Listing Office
Office
Locations Real Estate Group LLC
Locations Real Estate Group LLC
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.
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.
MLS #
1687318
Monthly HOA
N/A
On Site
Not Available
Last Updated
11/9/2026
Location
Contact Agent
Maureen Zemrak
(207) 272-2202Property Details
Community Information
Property Features
Lot Size
0.9 Acres
Lot Features
Near Public Beach, Level, Open Lot
Waterfront Features
Beach Rights, Oceanfront
View
Scenic
Water Body
Casco Bay, Atlantic Ocean
Roads
Dead End, Other Road, Paved, Right of Way
Water Body Type
Bay, Harbor, Ocean
Water View
Yes
Waterfront Owned +/-
220.0
Waterfront Shared +/-
0.0
Sewer
Septic Tank
Water
Public
Electric
On Site, Circuit Breakers
Gas
Bottled
Road Surface
Paved
Zoning
IR-2, Shoreland
Directions
From ferry go straight to top of the road (Island Ave). Take a left and continue until you reach 494 Island Ave.
Tax and Financial Info
Tax Year
2025
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Your monthly payment will be
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Listing Information Last Updated 11/9/2026

Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified.
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Mortgage values are calculated by Sierra Interactive and are provided for estimate purposes only. Walking and Transportation data are provided by WalkScore as a guideline and should be independently verified.