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494 Island Avenue, Portland, ME, 04108

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$879,999
New Listing

494 Island Avenue
Portland, ME 04108

For Sale|Land|Active
County:
Cumberland
Days online/new listing status provided by Showcase IDX.
Listing courtesy of Locations Real Estate Group LLC
Call Now: 207.532.6573
Is this the listing for you? We can help make it yours.
207.532.6573
494 Island Avenue494 Island Avenue494 Island Avenue494 Island Avenue
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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.

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Listing Snapshot
Price 
$879,999
Days On Site 
0 Days
Bedrooms 
N/A
Inside Area (SqFt) 
N/A
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.9 Acres
Year Built 
N/A
MLS Number 
1687318
Status 
Active
Property Tax 
$12,369
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Days online/new listing status provided by Showcase IDX.
Friends & Family
Recent Activity
4 hours agoListing first seen on site
4 hours agoListing updated with changes from the MLS
Price history, status history, and update history provided by Showcase IDX.
General Features
Acres 
0.9
Parking 
GravelPaved
Sewer 
Septic Tank
Utilities 
Propane
Water Source 
Public
Zoning 
IR-2, Shoreland
Interior Features
Electric 
Circuit Breakers
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Exterior Features
Lot Features 
LevelOpen Lot
View 
ScenicWater
Waterfront 
Yes
Waterfront Features 
Ocean Front
Waterview 
ScenicWater
Community Features
Roads 
Paved
Listing courtesy of Locations Real Estate Group LLC



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. © 2026 Maine Real Estate Information System, Inc. All Rights Reserved.
Last checked 2026-11-10 12:50 AM UTC

Neighborhood & Commute
Source: Walkscore
Disclosure: Community information and market data powered by Constellation Data Labs. Information is deemed reliable but not guaranteed.
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