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    14419 Leo Road Leo, IN 46765

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    For Sale
    $350,000

    Other/Unknown - Leo, IN

    Property size:
    3,226 SF
    Lot size:
    0.87 Acres
    Price / SF:
    $108/SF
    Added:
    Dec 9, 2025
    Days on Market:
    144
    Last Refresh:
    May 2 at 1:06 pm

    Property Features for 14419 Leo Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    C1 overlay district
    Interior features
    Other, Three Phase, Overhead Door 1
    Exterior features
    Three Phase, Overhead Door 1
    Standard status
    Active
    APN
    02-03-22-152-006.000-082
    Size
    3,226 SF
    Lot size
    0.87 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1362.72

    Utilities

    Heating system
    Natural Gas

    Building Details

    Year built
    2002
    Floors in Building
    1
    Flooring type
    Concrete
    Building materials
    Brick
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    John Eager

    Listing agent John Eager License #RB14032054

    Listing office Eager Realty Group, Inc. PO Box 184, Fort Wayne, IN

    Listing date Dec 9, 2025

    MLS# 202548472 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.

    Overview

    Established Car Wash in Leo

    This car wash facility, constructed in 2002, features 4 self-service bays and 1 automatic wash bay. The building encompasses a total of 3,226 square feet and is situated on a 0.87-acre lot. Each bay is equipped with a 4ft x 6ft concrete dirt trap/drain with steel grates. The property benefits from municipal sewer service, electricity, and natural gas. Water is supplied by an on-site well. Operating equipment includes a Futura-SSA No Touch Rollover System, Future Genesis Drying System, brushes, wands, bill changers, vending machines, and stainless steel vacuum units. Miscellaneous supplies on hand are also included. The property is located in Leo, Indiana, within Allen County, and is zoned C1 overlay district.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Self service car ...

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Nail Salon Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Leo
    County
    Allen
    State
    Indiana
    Longitude
    -85.014647
    Latitude
    41.218766

    Nearby Similar for Sale

    • $1,900,000

      Leo Road Commercial Opportunity

      Prime location in Leo with high visibility and accessibility.
      14408 Leo Road, 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
      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
      View Details

    FAQs

    What type of property is this?
    Self service car wash - Car wash with self-service and automatic bays on 0.87 acres.
    Where is this self service car wash located?
    The property is located at 14419 Leo Road Leo, IN.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: Established car wash business built in 2002; Features **4 self‑service bays and 1 automatic wash bay**; Located on a **large .87 acre lot**
    (260) 450-1606
    We can help!
    Listing Contact
    John Eager
    Real Estate License ID: RB14032054
    Learn More
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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
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    14419 Leo Road, Leo, IN 46765

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