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Land with Home for Sale in Leo, Indiana

15514 Tonkel Rd, Leo, IN 46765

$2,800,000
11 acres
Active sale
ago
Est $14,073/mo

Unique opportunity to own two parcels totaling 11 acres in a prime location in growing Leo and northwest Fort Wayne, offering exceptional flexibility for residential, business, or investment use. The primary 10.2-acre parcel features a 1,200 sq ft, three-bedroom ranch alongside a large flex building with recently expanded office space—ideal for a home-based business, workshop, or operations hub. The main barn features all concrete floors, providing durability and versatility for a variety of uses. Three expansive pole barns offer substantial capacity for equipment, materials, or tenant use. The main building is fully linked to the middle barn (Building 3), enhancing functionality for operations and communications. The home and buildings on this parcel are currently producing rental income, with existing leases that include a tree service, communications company, residential tenant, and additional storage rentals—delivering immediate cash flow for the next owner. A well-maintained pond adds both functionality and scenic appeal. The second parcel, spanning 0.8 acres, includes its own three-bedroom ranch with a separate driveway—well-suited for multi-generational living, guest accommodations, or additional rental income. With strong potential for construction operations, specialized storage and logistics, future residential development, or even a wedding/event venue, this property offers a rare combination of location, acreage, infrastructure, and income-producing capability. This property currently houses a business conducting active operations, therefore earliest possession is July 1st. The property will be clear of all equipment in the coming months.

1,175
Sq feet
3
Beds
1
Full bath
1917
Built

Location

Street address
15514 Tonkel Rd
School district
Northwest Allen County
Elevation
843 feet
Coordinates
41.2286, -85.0759

Directions

Tonkel Road N, just past Hosler Road.

Property details

Acreage
11 acres
MLS #
FWAAR 202611322
Posted

Property taxes

Recent
$7,712

Parcels

  • 02-03-18-301-001.000-042

Details and features

Listing

Type
Residential
Subtype
Single Family Residence

Lot

Waterfront
Waterfront Pier/Dock
Features
Dock

Exterior

Parking
Carport
Structures
Outbuilding
Features
Pier/Dock, Pole/Post Building

Structure

Stories
1
Basement
Yes
Heating
Fireplace(s), Forced Air, Natural Gas

Interior

Room Count
5
Rooms
Basement, Bathroom, Bedroom x 3, Great Room, Kitchen, Living Room
Appliances
Electric Range, Range
Features
Dishwasher, Dryer Hook Up Gas/Elec, Gazebo, Guest Quarters, Near Walking Trail, Patio Open, Refrigerator, Sump Pump, Utility Sink, Water Heater Gas

Property utilities

CategoryTypeStatus
GasNatural GasConnected
WaterPublicAvailable

Nearby schools

NameTypeDistrict
Perry HillElementaryNorthwest Allen County
Maple CreekMiddleNorthwest Allen County
CarrollHighNorthwest Allen County

Listing history

DateEventPriceChangeSource
Apr 3, 2026New listing$2,800,000FWAAR
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This 11-acre property is located at 15514 Tonkel Rd in Leo, IN 46765. The property is available for sale for $2,800,000. It has a 1,175 sq ft 3 bedroom, 1 bath house built in 1917.

Checked 2 hours ago — Updated

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