Incredible Willard Beach property offers rarely seen opportunities
South Portland Waterfront Home on Franklin Terrace Sells for $3.3 Million
A 0.55‑acre parcel on Franklin Terrace in South Portland, overlooking Willard Beach and Casco Bay, has closed at $3.3 million. The property, which includes a 4,300‑square‑foot main house with seven bedrooms and five bathrooms and a smaller secondary residence, is now listed for sale by F.O. Bailey Real Estate.
The larger home—recently renovated by its former owner, Wayne Ross, former president of Southern Maine Community College—features expansive living spaces that maximize natural light and panoramic ocean views. Guests can watch the sunrise over Casco Bay from the front façade, and the property offers sightlines to the Spring Point Ledge Lighthouse and the surrounding islands.
A second residence on the lot, currently 3 beds and 2 baths, sits adjacent to the ocean and offers a distinct outlook. The smaller house is in need of updates, but its separate entrance and layout provide flexibility for guest accommodations or rental income.
Location and Lifestyle
The property sits less than four miles from downtown Portland, within easy reach of the city’s restaurants, arts venues and shopping districts. The ocean front is only a short walk from Willard Beach, a family‑friendly shoreline that includes a playground, seasonal snack shack and walking paths. The site also benefits from a private oasis feel while remaining within a short drive of Portland International Jetport, located nine miles away.
New Development Opportunities
South Portland recently amended its housing‑density regulations through Legislative District 1829 (LD 1829). The new ordinance expands permissible building types and densities, opening opportunities for developers, investors, and owners to create multi‑family or legacy family compounds on waterfront parcels. The city’s Coastal Resilience Program further supports owners in protecting shoreline infrastructure and addressing climate‑related risks.
“LD 1829 gives builders and investors more flexibility to develop properties like this one,” said Anne Ross‑Murray, a licensed real‑estate agent with F.O. Bailey Real Estate. “Coupled with the city’s Coastal Resilience Program, it’s an attractive proposition for anyone looking to make a lasting investment in South Portland.”
Property Details
- Purchase price: $3,300,000
- Main house: 7 beds, 5 baths, 4,300 sq ft
- Secondary residence: 3 beds, 2 baths
- Lot size: 0.55 acres
- Ocean frontage: Yes, views of Casco Bay and Spring Point Ledge Lighthouse
- Proximity: <4 mi to Portland downtown; 9 mi to Portland International Jetport
Next Steps
The listing is actively marketed by Anne Ross‑Murray of F.O. Bailey Real Estate. Prospective buyers interested in the property’s potential for redevelopment or as a family compound are encouraged to contact the agency for a showing and further details on the local zoning and development options.
For more information on the South Portland Coastal Resilience Program and the updated LD 1829 regulations, visit the city’s official website at smpdc.org.
The sale of this premier waterfront property underscores South Portland’s growing appeal as a destination for investors and families seeking high‑quality oceanfront living in close proximity to Portland’s amenities.
