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
Cambridge Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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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