Pending

$975,000

Est. $6,041/mo

Land

•

0.92

acre (lot)

109 Reed Ave, Portland, ME 04108

About this home

Rarely does an opportunity like this come along. This private building site is located on Peaks Island, one of Casco Bay's most beloved islands. 109 Reed Avenue offers one of the last remaining direct waterfront lots on the island. The 0.92 acres of land consists of 458 ft of ocean frontage with a rocky beach on a protected cove that feels worlds away from the mainland, yet is just a short ferry ride from the heart of Portland. Tucked at the end of a quiet gravel road, the property offers an elevated ridge with commanding views, mature woodlands, and an open lawn with access to Josiah's Cove. Watch lobster boats, ferries, and sailboats drift by from this serene setting. The lot has been surveyed and perk tested, conservation land abuts the property ensuring lasting privacy. Whether you're dreaming of a full-time coastal residence or a summer retreat, this lot is one of the last chances to build something extraordinary on Peaks Island.

Vacant landProperty Type

0.92 acresLot Size

$1,059,783Price/Acres

Listed by Erin Haber • Town & Shore Real Estate

Listing updated: Oct 9, 2026 at 02:35pm

Redfin checked: a minute ago

•Source:MREIS #1669026

Payment calculator

$6,041 per month

Principal and interest$5,321

Property taxes

$557

HOA dues

Home insurance

$163

Utilities

Add

Affordability tools

Open houses

No upcoming open houses.

Nearby open houses (10)

OPEN THU, 4PM TO 6PM
$575,000
3 beds1.5 baths1,958 sq ft
91 Scott Rd, South Portland, ME 04106
0.29 acre lot • 2 garage spots • Built 1999
OPEN THU, 4PM TO 5:30PM
$349,000
2 beds1 bath1,352 sq ft
2 N Yarmouth Woods #2, North Yarmouth, ME 04097
$373 HOA • Parking • Built 1985
OPEN THU, 4PM TO 5:30PM
$659,900
2 beds2 baths1,480 sq ft
11 Kings Hwy Unit B, Cumberland Foreside, ME 04110
$350 HOA • Garage • Built 2018
OPEN THU, 4:30PM TO 6PM
$775,000
2 beds2 baths1,612 sq ft
349 Middle Rd, Falmouth, ME 04105
1.21 acre lot • 2 garage spots • Built 1950
OPEN SAT, 10AM TO 12PM
$895,000
4 beds2 baths2,182 sq ft
20 Rainbow Farm Rd, Yarmouth, ME 04096
0.55 acre lot • 2 garage spots • Built 1986
OPEN SAT, 11AM TO 12:30PM
$539,900
3 beds1.5 baths1,855 sq ft
31 Saugus St, Portland, ME 04103
0.26 acre lot • Parking • Built 1993
OPEN SAT, 1PM TO 3PM
$699,900
6 beds3 baths2,333 sq ft
240 Park Ave, Portland, ME 04102
3,484 sq ft lot • Parking • Built 1897
OPEN SUN, 10:30AM TO 12:30PM
$559,000
3 beds2 baths1,776 sq ft
67 Overlook Rd, Windham, ME 04062
0.42 acre lot • 2 garage spots • Built 2020
OPEN SUN, 12PM TO 1:30PM
$699,000
4 beds2 baths1,808 sq ft
13 Wellington Rd, Portland, ME 04103
5,227 sq ft lot • Listed 18 days
OPEN SUN, 12PM TO 1:30PM
$199,000
Land— sq ft
17 Wellington Rd, Portland, ME 04103
Listed 18 days

Around this home

Schools

K - 12
Preschool & daycare

Peaks Island School

Public PreK-5 • Assigned • 0.9mi

8/10

Deering High School

Public 9-12 • Assigned • 5.6mi

2/10

Provided by GreatSchools

About Peaks

Island

Peaks Island, located between Casco Bay and Portland Harbor, is a coastal and village-like Portland neighborhood with a working waterfront and wooded lanes. The island’s character concentrates around the Peaks Island Ferry Landing and the stretch of Island Avenue lined with porch-front cottages, bike rentals, and small cafes. Community pillars include the Fifth Maine Regiment Museum, the Peaks Island House, and the Inn on Peaks Island. Narrow roads loop past rocky coves, pocket beaches, and weathered docks, with golf carts and bicycles setting the pace. Architecture leans toward shingled cottages and classic New England summer homes, with salt-air patina and tidy gardens. Trails and shoreline paths frame daily routines around ferry schedules and long water views.

Provided by Walk Score and Local Logic

Market insights

109 Reed Ave · $975,000

DAYS ON MARKET

The average home goes pending in 40 days.

SALE-TO-LIST

Most homes are selling 0% above list price.

LIST PRICE

Median sale price in this area is $598,662. (39% lower than this home)

PRICE DROP

24% of homes in this area have had a price drop in the past month.

Property details

Exterior
Finance

Exterior features
Level terrain
Right of way access
Wooded lot
Gravel road frontage
Waterfront on Casco Bay
Ocean/bay water view
Located on an island

Home design
Raw land
Zoned IR-1 with shoreland overlay

Parking
No driveway on site
On-site parking available

Construction
Surveyed lot

Utilities
Electric service available on site
Public water available seasonally
Septic required; soil test available

Sale and tax history for 109 Reed Ave

Sale History
Tax History

Year

Property tax

Land + Additions

Assessment*

2024

$6,685 (+4.2%)

$343,700 + $101,700

$445,400

2023

$6,418 (+5.9%)

$343,700 + $101,700

$445,400

2022

$6,062 (+4.8%)

$343,700 + $101,700

$445,400

2021

$5,786 (−9.6%)

$343,700 + $101,700

$445,400

2020

$6,399

$250,800 + $23,700

$274,500

2019

$6,399 (+3.7%)

$250,800 + $23,700

$274,500

2018

$6,171 (+3.8%)

$250,800 + $23,700

$274,500

2017

$5,943 (+2.6%)

$250,800 + $23,700

$274,500

2016

$5,795 (+2.3%)

$250,800 + $23,700

$274,500

2015

$5,663 (+3.2%)

$250,800 + $23,700

$274,500

2014

$5,490

$250,800 + $23,700

$274,500

Public record

Public record
Zoning

Beds

Baths

Stories

Lot width

—

Lot depth

—

Lot size

0.92 Acres

Year renovated

—

Finished Sq. Ft.

515

Unfinished Sq. Ft.

—

Total Sq. Ft.

515

Year built

1900

Style

Single Family Residential

County

Cumberland County

APN

117652

Parking Spaces

—

Basement

—

Accessible

—

HOA Dues

—

Garage

—

Features

—

Last updated by owner on Jul 27, 2026.

IR-1

SHORELAND OVERLAY

Island Zone

To provide for low-intensity residential, recreational, and rural uses in the less developed areas of the islands in order to preserve the rustic character of the islands, to protect groundwater resources and natural and scenic areas, and to permit only appropriate low-intensity development in areas lacking adequate public facilities and services. Select nonresidential uses may also be permitted in the IR-1 zone.

Zone overlays

Shoreland Overlay Zone

Permitted uses

Include but are not limited to:

Agriculture
Housing-Single unit
Housing-Multiple units
Public service
Park & open space

Climate risks

1/10 Flood Factor

Minimal risk of a flood reaching the building in the next 30 years

1/10 Fire Factor

Unlikely to be in a wildfire in next 30 years

4/10 Heat Factor

7 days above 86° expected this year, 18 days in 30 years

8/10 Wind Factor

80% chance of strong winds in next 30 years

2/10 Air Factor

1 unhealthy days expected this year, 2 days in 30 years

Provided by First Street

Historical weather

Portland, ME • 04108

Average low and high temperatures (°F)

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Sun exposure

94/ 100

Exceptional sunlight

Sunscore

This home ranks in the top 14% for direct sun exposure in Portland. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.

10.1 hrs

5.6 hrs

JuneDecember

Provided by Shadowmap

Redfin Estimate for 109 Reed Ave

$958,792

$16K under list price of $975K

Nearby comparable homes

The Redfin Estimate uses 6 recent nearby sales, priced between $660K to $1.0M.

SOLD SEP 28, 2026
$707,000 Last sold price
2 beds2 baths1,000 sq ft
71 Willard St, South Portland, ME 04106
smaller lot
basement
SOLD JUL 31, 2026
$660,000 Last sold price
2 beds1.5 baths1,344 sq ft
54 Elizabeth St, Portland, ME 04108
smaller lot
basement
SOLD AUG 28, 2026
$950,000 Last sold price
3 beds2 baths1,683 sq ft
59 Ocean View Rd, Cape Elizabeth, ME 04107
smaller lot
basement
SOLD AUG 21, 2026
$1,025,000 Last sold price
2 beds2.5 baths1,969 sq ft
67 Merrill St, Portland, ME 04101
smaller lot
basement
SOLD JUN 26, 2026
$830,000 Last sold price
3 beds1 bath1,266 sq ft
59 New Island Ave, Portland, ME 04108
smaller lot
basement
SOLD OCT 2, 2026
$965,000 Last sold price
4 beds2 baths1,546 sq ft
32 Rocky Hill Rd, Cape Elizabeth, ME 04107
smaller lot
basement

This home is pending

The seller has accepted an offer, and this property is now .

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Nearby similar homes

$185,000

Land— sq ft

73 Gertrude Ave, Portland, ME 04103

Building envelope • Setbacks

$450,000

Land— sq ft

Lot 3 Jordan Ridge Subdivision, Cape Elizabeth, ME 04107

Listed 113 days

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Land— sq ft

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NEW CONSTRUCTION

$1,695,000

4 beds3.5 baths4,002 sq ft

87 Running Hill Rd, Scarborough, ME 04074

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NEW CONSTRUCTION

$2,995,000

4 beds4.5 baths4,534 sq ft

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Custom built home • Secluded over 1 acre • Dedicated office

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Land— sq ft

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Secluded lot • Preserved open space • Peaceful city park

Details provided by MREIS and may not match the public record. Learn more.

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