1802 House Bed & Breakfast in Kennebunkport
Malone Commercial Brokers is pleased to announce the sale of the 1802 House Bed & Breakfast Inn at 15 Locke Street in Kennebunkport. John Doyon represented the seller, Shine Holding LLC, in the $2.175 million transaction.
Dating back to 1802, the 5,700± square foot historic inn has operated as a bed-and-breakfast since the 1990s. The property features six guest rooms, common areas, a commercial-style kitchen and approximately 2,000 square feet of private owner’s quarters. Historic details including exposed brick, wood floors and heavy beams are complemented by improvements made by the previous owners, including a new roof, generator, guestroom mini splits, improved attic insulation and several renovated bathrooms.
The property attracted considerable interest when it came to market, going under contract in approximately two weeks with multiple offers from both Maine and out-of-state buyers.
“It received considerable interest from both in-state and out-of-state buyers,” said Doyon.
Located next to Cape Arundel Golf Course and close to downtown Kennebunkport, the inn offered buyers a combination of historic character, turnkey operations and a strong hospitality location.
The property was purchased by Matthew and Kelly Baldassarri, longtime bed-and-breakfast owners relocating from Salem, Massachusetts. The couple has operated the Stepping Stone Inn in Salem for more than a decade and was drawn to 1802 House for its private owner’s quarters and Kennebunkport setting.
The sale included the furnishings and operational assets needed to continue running the inn. The Baldassarris have already taken over operations and plan to make updates to the breakfast menu, website and marketing while becoming involved in the local community.
Matt credited his broker, Brian Castle of Oceanview Properties, with understanding what they were looking for throughout the search, as well as John Doyon in his help with the knowledge of the property and area. Reflecting on the transaction, he said, “This was the best experience on both sides,” referring to both Castle and Doyon.
The sale of 1802 House is another example of the continued interest in established hospitality properties in Southern Maine and the appeal of well-positioned, turnkey businesses to both in-state and out-of-state buyers.