Eli Lakkis Acquires Retail Asset At 489 Concord Avenue Cambridge For $1.605M With Andrew Mazzeo As Buyer's Rep
SOLD
$1,605,000
Massachusetts
See Similar DealsRetail3,611 SF
Sold 04/09/2026
SOLD
Eli Lakkis Acquires Retail Asset At 489 Concord Avenue Cambridge For $1.605M With Andrew Mazzeo As Buyer's Rep
489 Concord Avenue
See Similar DealsRetail3,611 SF
Sold 04/09/2026
Summary
MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$444
Total Square Footage:3,611 SF
Transaction Type:Sale
The retail property located at 489 Concord Avenue in Cambridge, MA was sold for $1,605,000. The asset encompasses a sizable area of 3,611 square feet, translating to a price per square foot of $444.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,605,000
- Address: 489 Concord Avenue
- Market: Cambridge, MA
- Square Footage: 3,611
- Price Per Square Foot: $444
- Buyer: Eli Lakkis
- Seller: Evan Olson
- Buyer's Representative: Andrew Mazzeo - All Star Realty, Inc.
- Seller's Representative: Shannon Henderson - Exp Commercial
Key individuals in this transaction include buyer Eli Lakkis and seller Evan Olson, each represented by their respective real estate professionals. Andrew Mazzeo, affiliated with All Star Realty, Inc., represents the buyer, while Shannon Henderson, from Exp Commercial, represents the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$85,600.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,702.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,608.52
Annual Debt Service$91,302.23
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