764 Cienega Road in Big Bear Lake is a rare development opportunity in the highly desirable Metcalf Bay neighborhood. Priced at $650,000, this 0.54-acre (23,400 SF) C2-zoned parcel combines scale, existing utility infrastructure, and an exceptional four-season location. Positioned less than half a mile from Holloway’s Marina and the Metcalf Bay boat launch, the property offers seamless access to Big Bear Lake’s southern shoreline and premier recreational amenities. The site also benefits from its strategic midpoint location between the dam and the major ski resorts to the east, enhancing its year-round appeal for both residential and commercial potential. The parcel includes a single family residence of 633 SF structure built in 1940, delivering valuable in-place utility credits that meaningfully differentiate it from raw land offerings. Existing water and sewer connections are estimated to represent $30,000–$50,000 in fee savings, creating an immediate financial advantage for redevelopment in a market where infrastructure costs often present a significant barrier to entry. At 23,400 SF, the lot is more than three times the size of a typical local parcel, offering exceptional spatial flexibility. The scale supports development options ranging from a luxury estate with expansive amenities and boat storage to a thoughtfully designed commercial or mixed-use retail development opportunity due to its C2 zoning. 764 Cienega Road stands out as a scarcity-driven investment opportunity — combining land size, infrastructure savings, zoning flexibility, and prime location within one of Southern California’s most sought-after vacation destinations.