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Improved Mixed-Use Land for Sale in Mitchell, Indiana

4161 US Highway 50, Mitchell, IN 47446

$189,000
4 acres
Active
ago
Est $1,031/mo

Exceptional 4-acre investment opportunity featuring four well-maintained buildings with incredible versatility and income potential. Three of the buildings share a cohesive exterior design while offering distinct interior layouts and functionality. One structure, previously used as a homestead, was originally built as two separate units and has been modified to include a central sitting area while still maintaining a kitchen, bathroom, and living space on each side, making it ideal for multi-generational living or conversion back to a duplex configuration. The second building remains configured as two separate one-bedroom, one-bathroom units, each with private entrances and individual living spaces, providing immediate rental potential. The third building has been converted to include a full kitchen, two bathrooms, and a communal laundry area at the rear, offering flexibility for shared housing, commercial use, or service-oriented operations. The fourth building was constructed and utilized as a church and features two restrooms with two stalls in each, with pew seating included in the sale, presenting an excellent opportunity for continued community use, retail conversion, event space, or redevelopment. A major capital improvement includes new metal roofs installed on all buildings, adding long-term durability and value. With ample acreage and multiple structures, this property is well suited for multi-unit rental development, mixed-use concepts, a much-needed neighborhood convenience store, or a customized vision aligned with your real estate investment goals. Shed not included in sale.

1,296
Sq feet
4
Beds
6
Full baths
1945
Built

Location

Street address
4161 US Highway 50
School district
Mitchell Community Schools
Elevation
768 feet
Coordinates
38.7376, -86.4958

Property details

Acreage
4 acres
MLS #
BMLS 202604456
Posted

Property taxes

Recent
$1,259

Parcels

  • 47-12-34-300-015.000-013

Details and features

Listing

Type
Residential
Subtype
Single Family Residence

Structure

Stories
1
Heating
Forced Air
Cooling
Central Air
Materials
Brick
Roof
Metal

Interior

Room Count
20
Rooms
Bathroom x 5, Bedroom x 4

Nearby schools

NameTypeDistrict
Burris/HatfieldElementaryMitchell Community Schools
MitchellMiddleMitchell Community Schools
MitchellHighMitchell Community Schools

Listing history

DateEventPriceChangeSource
Feb 13, 2026New listing$189,000BMLS
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This 4-acre property is located at 4161 US Highway 50 in Mitchell, IN 47446. The property is available for sale for $189,000. It has a 1,296 sq ft 4 bedroom, 6 bath house built in 1945.

Checked 3 hours ago — Updated

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Copyright (C) 2026 Indiana Uplands Realtor(R) Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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