For Sale
$1,300,000

921 Ocean AvePortland, ME 04103

Portland, Maine: 2.82 Acres, R5 Zoning

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional 2.82-acre development site, located at 921 Ocean Avenue in Portland, Maine, presents a unique investment opportunity. Zoned R5, this property allows for both commercial and residential uses, offering significant flexibility for developers. Preliminary drawings suggest the potential for subdivision into approximately 11 buildable lots, maximizing the land's potential. The elevated location boasts Casco Bay views, adding significant desirability to any future development. The site enjoys convenient frontage on both Ocean Avenue and Presumpscot Street, providing excellent accessibility. Its proximity to I-295 ensures easy access to major transportation routes, while its location just minutes from downtown Portland offers unparalleled convenience. The R5 zoning is poised for improved density under the forthcoming RN-4 regulations, further enhancing the property's long-term value. This prime location, combined with the potential for substantial development, makes this a truly exceptional opportunity for discerning investors seeking a high-return project in a thriving Maine market. The asking price for this remarkable property is $1,300,000. The property's address is 921 Ocean Avenue, Portland, ME 04103, situated in Cumberland County.

Highlights

  • Ideally located 2.82-acre development site at 921 Ocean Avenue, Portland, ME.
  • Potential for subdivision into approximately 11 buildable lots.
  • R5 zoning allows commercial and residential uses, with density improvements expected under forthcoming RN-4 regulations.
  • Elevated site offers Casco Bay views.

Property Details for 921 Ocean Ave

Property type
Land
Lot Size (sq. ft)
122,839 SF

Location Insight

City
Portland
County
Cumberland
State
Maine
Latitude
43.696644792156
Longitude
-70.261121087896
921 Ocean Ave, Portland, Maine

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921 Ocean Ave
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