921 Ocean Ave Portland, ME 04103
- Commercial real estate
- 2.82 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 921 Ocean Ave
- Lot size
- 2.82 lot acres
- Property type
- Commercial real estate
Description
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.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Cumberland
- State
- Maine
- Longitude
- -70.261121087896
- Latitude
- 43.696644792156
