A long-blighted property on Cannery Row goes back on the market, with a big price tag.

It’s a prime piece of property in some of the Peninsula’s most prized commercial real estate, but for the last 10-plus years, it’s been stubbornly resistant to development. And now, it’s back on the market.

Early last month, the blighted, 3-acre plot at 484 Cannery Row – better known as Ocean View Plaza – was listed on the website of Beverly Hills real estate firm The Altman Brothers with an asking price of $20 million.

The property, which consists of 29 parcels, is currently owned by Orinda-based 2012 Canrow Owner LLC, which acquired it in a foreclosure sale last November for $2.5 million.

Previous owners have gone bankrupt trying to develop the site, the last being Aqualegacy LLC, which filed for bankruptcy last year.

But the possibilities of the property remain enticing. In 2004, the city approved a project by a previous developer that included 51 condos, 377 parking spaces, a community park and more than 100,000 square feet of retail space. It even proposed its own desal plant.

The California Coastal Commission has the final say in the design, and that continues to be a sticking point being litigated in Monterey County Superior Court.

But Peter Baird, a managing partner with Mahoney & Associates, which is co-listing the property with The Altman Brothers, says he is fielding lots of calls. One buyer, Baird says, already appears serious.

For Monterey planning chief Chip Rerig, any progress on the site, even a new owner, is welcome.

“It’s a gaping tooth that really needs to be completed,” he says.