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    14408 Leo Rd Leo, IN 46765

    Sponsored
    For Sale
    $1,900,000

    Personal, House - Leo, IN

    Type:Single Family Residence
    Lot size:
    1.56 Acres
    Days on Market:
    169
    Last Refresh:
    Jan 23 at 2:06 pm

    Property Features for 14408 Leo Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Single Family Residence
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Kitchen
    Bathrooms
    2
    APN
    02-03-22-176-008.000-082
    Parking features
    Garage, Off Street
    Interior features
    Wood, Living Space, Basement, Refrigeration/Freezer
    Exterior features
    Living Space, Basement, Refrigeration/Freezer, Walk To Lake Access
    Lot size
    1.56 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air
    Water front features
    Waterfront Walk To Lake Access, Waterfront Saint Joseph River, Waterfront, Waterfront Saint Joseph River, Waterfront Walk To Lake Access
    Water front
    1

    Building Details

    Year built
    1959
    Floors in Building
    1
    Flooring type
    Carpet, Vinyl
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Jess Steury

    F.C. Tucker Fort Wayne (260) 489-0013

    Listing agent Jess Steury (260) 489-0013 License #RB14052363

    Listing date Aug 8, 2025

    MLS# 202531364 Listing URL

    Copyright © 2026 Upstate Alliance of REALTORS® Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Leo Road Commercial Opportunity

    This property, situated on over 2 acres in the growing Leo community, presents a commercial opportunity with high visibility due to its location and over 6,000 passing cars daily. The property includes a house that could be converted into an office space or a venue for meetings and gatherings. Renovations include 3 bedrooms, 1.5 bathrooms, a kitchen with a large island and quartz countertops, two living areas, a 10'x30' sunroom, ample storage, and a finished basement. It also features a new water heater and softener, and a 36x46 attached garage with multiple entries. The location, setting with mature trees and river views, and potential uses such as office buildings, winery, storage units, laundry mat, fast food chain, restaurant, bar, shopping, ice cream parlor, or park/recreation area, make this property a unique opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Jiffy Wash Car Wash

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Clothing Store Nail Salon Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Leo
    County
    Allen
    State
    Indiana
    Longitude
    -85.01383
    Latitude
    41.218271

    Nearby Similar for Sale

    • $350,000
      0.87 Acres

      Established Car Wash Business Opportunity

      Turnkey car wash with self-service and automatic bays.
      14419 Leo Rd, Leo, IN 46765
      View Details
    • $2,257,200
      10,400 SF

      Established Kid City USA Location

      Long-term leased Kid City USA in Leo-Cedarville, Indiana.
      14621 Amstutz Rd, Leo, IN 46765
      View Details
    • $395,000
      1,780 SF

      Class A Office Building For Sale

      Well-maintained office building in a strategic location, ideal for owner/user.
      14019 Pony Express Run, Leo, IN 46765
      View Details

    FAQs

    What type of property is this?
    Storefront property - Prime location in Leo with high visibility and accessibility.
    Where is this storefront property located?
    The property is located at 14408 Leo Rd Leo, IN.
    What is the asking price?
    The asking price for this property is $1,900,000.
    What are key features of this property?
    This property features: - Prime location on the river with high visibility (6,000+ cars daily) in the growing Leo community.; - Over 2 acres of land with mature trees and river views.; - Existing house easily convertible to office space or other commercial use.
    (260) 410-2295
    Request Owner's contact information
    14408 Leo Rd Leo, IN 46765
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    14408 Leo Rd Leo, IN 46765
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    We can help!
    Listing Contact
    Jess Steury
    Real Estate License ID: RB14052363
    (260) 410-2295
    Learn more
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