55540 Fir Rd Mishawaka, IN 46545
This exceptional 13-acre property in Mishawaka, Indiana, presents a unique investment opportunity. Located at 55540 N Fir Rd, this residential zoned land boasts a prime location, situated between McKinley Ave (15,800 daily vehicle count) and Day Rd (12,900 daily vehicle count, per INDOT). The property comprises three parcels and includes a 1,672 sq ft, tri-level home featuring two bedrooms, 1.5 bathrooms, and a two-stall garage. The home offers potential for expansion—a third bedroom could easily be added in the lower level—and could be updated for owner occupancy or used as a rental property. Two well-maintained metal outbuildings enhance the property's versatility. A smaller barn, approximately 1,200 sq ft, is heated, insulated, and equipped with electricity and numerous outlets. A larger pole barn, approximately 6,480 sq ft, features a 10x10 grade-level overhead door with an operator, plus two large (approximately 15x25) sliding doors ideal for heavy equipment access. The pole barn also includes older horse stalls and storage areas. Both barns offer significant storage potential or could generate rental income. Adding to the property's appeal is a fully stocked, 1.25-acre pond. Ample space remains at the rear of the property for new construction, whether a home or additional outbuildings. The property enjoys convenient proximity to major thoroughfares: 1.5 miles from Capital Ave, 2 miles from downtown Mishawaka, 2 miles to the Main St/Grape Rd commercial corridor, 3.5 miles to the Indiana Toll Road, 3 miles to Penn Harris Madison High School, 4.5 miles to the University of Notre Dame, and 5 miles to downtown South Bend. Annual property taxes total $4,127.22. The asking price is $595,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
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Property description
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Risks
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