Day & Fir, Lot 1 | Southwest Corner

Mishawaka, Indiana

9% Cap Rate On Existing Income | Upside For Add'l Development At Site

Property Snapshot

  • Land: 1.1 Acres; 1.43 Acres Additional Land
  • CAP Rate: 9%
  • List Price: $520,000 or $670,000; $409,000 Additional Land
Property Details

Excellent investment opportunity in the path of growth on Mishawaka’s northeast side in the shadow of Edison Lakes Corporate Park and the $355 million Saint Joseph Health System, Mishawaka. Site is approximately 1.1 acres with in-place land leases, and upside for future development on site. Cap Rate: 9%

The property is offered for sale under two scenarios:

A) $520,000 excluding carwash equipment (which is personal property)

B) $670,000 including carwash equipment. The price includes both the existing ATM Lease with 1st Source Bank and new leaseback to Lighthouse Carwash for operation of the carwash.

Opportunity for accelerated 7 year depreciation on equipment sale provides even more compelling returns.

Remaining developable site can accommodate an additional 7,000 to 9,000 SF building.

Adjacent 1.43-acre parcel to the west for sale separately at $409,000 to enlarge site if desired.


The property is located on the east side of Edison Lakes Corporate Park and the University Park Trade Area that encompasses over 5 million SF of commercial, retail, office, hospitality and medical space. The site is minutes from the new Capital Avenue extension and the Main Street/Grape Road corridors, the Saint Joseph Health System, Mishawaka development and Elkhart.

Please contact us for financial analysis and details on investment sale.


Senior Vice President, Principal

For More Information Please Contact

Eddie Bradley, CCIM/CPM/SIOR
Senior Vice President, Principal

Senior Vice President, Principal