$210,000
15027 State Road 1 Road
Unique Mixed-Use Opportunity in the Heart of Leo! Located in the town center of Leo, 15027 State Road 1 offers a versatile property with endless possibilities for an investor, business owner, or owner-occupant. The second floor features a two-bedroom, one-full-bath apartment with cathedral ceilings, providing immediate residential use or rental income potential. The main level offers flexible commercial space ideal for retail, professional office, studio, or service-based use. For those looking to maximize the property’s residential potential, the main floor could also be renovated into an additional apartment, creating a potential multi-unit investment opportunity. Outside, the property includes a detached two-car garage and a small side yard, adding valuable storage, parking, and outdoor space. With its central Leo location and combination of residential and commercial possibilities, this property offers a unique opportunity to create a space that fits a variety of needs!
North on State Road 1 to the 4 way stop in Leo. Continue on 1 and the building will be on the left right before you leave Leo.
Map to 15027 State Road 1 Road, Leo, IN 46765
MLS #
202632418
Date Listed
2026-08-10
Status
Active
Property Type
Residential
Property SubType
Site-Built Home
Square Feet
2060 sqft
New Construction
No
Style
Two Story
Type
Site-Built Home
Basement
Yes
Bedrooms
2
Bathrooms
2
(1 Full, 1 Half)
Annual Taxes
$2,061.48
Year Taxes Payable
2026
Year Built
1900
Virtual Tour
propertypanorama.com »
Days on Market
22
Additional
Design
Historic
Cooling
Central Air
Heating
Gas, Forced Air
Garage
Detached
Room Dimensions
Living Room
17 × 13
Upper Level
Master Bedroom
13 × 12
Upper Level
2nd Bedroom
12 × 10
Upper Level
Bathroom Locations
Full Baths
1 Upper
Half Baths
1 Main
External Features
Construction
Site-Built Home
Exterior
Metal
Lot Size
3,375 sq ft
Acreage
0.08 Acres
Lot Dimensions
35x75
Parking
No
Sewer
City
Water
Well
Fence
None
Location
Area
Allen County
Location
City/Town/Suburb
County
Allen
Subdivision
None
Township
Cedar Creek
City
Leo
State
IN
Zip
46765
Schools
School District
East Allen County
Elementary
Cedarville
Middle School
Leo
High School
Leo
Financial
Financing Terms
Cash, Conventional
Assoc. Dues
$0.00 Not Applicable
| MLS # | 202632418 |
|---|---|
| Date Listed | 2026-08-10 |
| Status | Active |
| Property Type | Residential |
| Property SubType | Site-Built Home |
| Square Feet | 2060 sqft |
| New Construction | No |
| Style | Two Story |
| Type | Site-Built Home |
| Basement | Yes |
| Bedrooms | 2 |
| Bathrooms | 2 (1 Full, 1 Half) |
| Annual Taxes | $2,061.48 |
| Year Taxes Payable | 2026 |
| Year Built | 1900 |
| Virtual Tour | propertypanorama.com » |
| Days on Market | 22 |
| Design | Historic |
|---|---|
| Cooling | Central Air |
| Heating | Gas, Forced Air |
| Garage | Detached |
| Living Room | 17 × 13 | Upper Level |
| Master Bedroom | 13 × 12 | Upper Level |
| 2nd Bedroom | 12 × 10 | Upper Level |
| Full Baths | 1 Upper |
| Half Baths | 1 Main |
| Construction | Site-Built Home |
|---|---|
| Exterior | Metal |
| Lot Size | 3,375 sq ft |
| Acreage | 0.08 Acres |
| Lot Dimensions | 35x75 |
| Parking | No |
| Sewer | City |
| Water | Well |
| Fence | None |
| Area | Allen County |
|---|---|
| Location | City/Town/Suburb |
| County | Allen |
| Subdivision | None |
| Township | Cedar Creek |
| City | Leo |
| State | IN |
| Zip | 46765 |
| School District | East Allen County |
|---|---|
| Elementary | Cedarville |
| Middle School | Leo |
| High School | Leo |
| Financing Terms | Cash, Conventional |
|---|---|
| Assoc. Dues | $0.00 Not Applicable |
MLS# 202632418
IDX information provided by the Indiana Regional MLS.
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.
Listing Provided Courtesy of Brandon Schueler
Mike Thomas Assoc., Inc
Listing updated September 1, 2026 at 11:00 pm
Last checked 13 minutes ago
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