835 Ocean Avenue, Wells, ME 04090 - Spectrum Real Estate

$1,395,000

A rare development opportunity on Ocean Avenue in Wells, this half-acre corner lot at Ocean Avenue and Eldridge Road offers exceptional flexibility just a short walk to the beach. With seasonal marsh views, public water and sewer, and a preliminary survey already completed, the groundwork is in place for a variety of redevelopment options. Subject to local approvals, buyers may choose to replace the existing structure with a new single-family home or duplex, subdivide the parcel into three single-family lots, or create two conforming lots--each capable of supporting a single-family home or duplex. Depending on the approach, the site may offer the potential for as many as four total units. This flexibility creates multiple potential exit strategies, including build-and-sell, condominium development, long-term hold, or owner-occupancy with additional units for resale or income. Based on its potential yield of up to four units, the property represents an attractive land basis per possible unit relative to other coastal opportunities. Potential future changes to accessory dwelling unit (ADU) regulations may further enhance the property's versatility and overall value. Few properties in Wells offer this combination of location, infrastructure, and development potential so close to the coast. 835 Ocean Avenue presents… Read MoreRead Less

Courtesy of Anchor Real Estate 207-361-5007

Listing Snapshot

Days Online

Last Updated

Apr 25, 2026

Property Type

Single Family Residence

Beds

Full Baths

Square Ft.

884

Lot Size

0.5 Acres

Year Built

1935

MLS Number

1656917

Additional Details

Property Access

Road Surface Type: "Paved"

Appliances & Equipment

Appliances: "Washer", "Refrigerator", "Gas Range"

Basement

Basement: "Interior", "Full", "Bulkhead", "Unfinished"

Building

Architectural Style: "Ranch", Building Area Source: Public Records, Building Area Total: 884, Construction Materials: "Vinyl Siding", "Wood Frame", Year Built: 1935

Cooling

Cooling: "None"

Exterior Features

Other Equipment: "Internet Access Available", "Cable"

Floors

Flooring: "Wood"

Foundation

Foundation Details: "Stone", "Concrete Perimeter"

Heating

Heating: "Forced Air", Heating Included

Interior Features

Features: "1st Floor Bedroom", "Attic", "One-Floor Living", "Storage"

Laundry

Features: "Laundry - 1st Floor", "Main Level"

Lot

Features: "Open", "Corner Lot", "Level", "Near Golf Course", "Near Public Beach", "Near Shopping", 0.5 acres, Area: 0.5, 21,780 square feet

Parking

Features: "5 - 10 Spaces", "Gravel", "On Site"

Pets Policy

Pets Allowed: "No Restrictions"

Property

Other Structures: "Shed(s)", Parcel Number: WLLS-000115-000000-000163, Property Sub Type: Single Family Residence, View: "Scenic", Zoning: RB

Roof

Roof: "Shingle"

Sewer

Sewer: "Public Sewer"

Taxes

Annual Amount: $5,075, Tax Lot: 163

Utilities

Electric: "Fuses", Water Source: "Public"

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30 Days Snapshot Of 04090

$408k

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+20%

homes sold

+63%

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835 Ocean Avenue

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