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489 Concord Avenue

Eli Lakkis Acquires Retail Asset At 489 Concord Avenue Cambridge For $1.605M With Andrew Mazzeo As Buyer's Rep
SOLDRetail

Eli Lakkis Acquires Retail Asset At 489 Concord Avenue Cambridge For $1.605M With Andrew Mazzeo As Buyer's Rep

489 Concord Avenue

$1,605,000

$444/SF

Building Size

3,611 SF

Asset Type

Retail

Closing

Apr 8, 2026

AI

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.

Players

Andrew Mazzeo

All Star Realty, Inc.

Broker

$33.7M

vol

7 deals

Broker
Exp Commercial
Exp CommercialBrokerage

Cambridge Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

9.88%

Cash-on-Cash

-2.82%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93