Prime Development Opportunity in Peterson, Minnesota
Located at 116 Mill Street, Peterson, MN, this 40x36 unfinished wood-frame building, constructed in 2018, is currently classified by the city and county as a garage and is being sold as-is. The structure sits on a concrete slab foundation and features a steel roof, white vinyl siding, multiple windows providing natural light, an overhead garage door, and a separate pedestrian entry. The property offers ample off-street parking on a spacious lot.
Water Line, electric and sewer lines piped into building, providing a blank slate for future use. Subject to local zoning and permitting, the building offers potential for completion as a custom residence, workshop, storage facility, or other permitted use.
The property is located in the Village of Peterson, a scenic community along the Root River and directly adjacent to the Root River State Trail, a paved multi-use trail spanning approximately 60 miles. The area is known for outdoor recreation including biking, hiking, fishing, kayaking, and tubing, and is situated in Minnesota’s Driftless Region with limestone bluffs and rolling terrain. Lanesboro, MN, is just minutes away and offers additional dining, lodging, and tourist amenities.
With its size, existing structure, and desirable location near trail and river access, this property presents a unique opportunity for buyers seeking a flexible development or investment option in Southeast Minnesota. There is a new campground going in right behind this properties boundary line as well. Buyer to verify all intended uses with the city and county.
Active
Price cut: $10K (6/22)
$90,000
116 Mill St, Peterson, MN 55962
1beds
0baths
1,440sqft
Single Family
Built in 2018
0.3 Acres Lot
$-- Zestimate®
$63/sqft
$-- HOA
What's special
White vinyl sidingOverhead garage doorSteel roofSeparate pedestrian entryUnfinished wood-frame building
- 101 days |
- 372 |
- 7 |
Zillow last checked:
Listing updated:
Listed by:
Jen Busch 507-923-7657,
Midwest Home and Farm Realty
Source: NorthstarMLS as distributed by MLS GRID,MLS#: 7002505
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Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 1
- Bathrooms: 0
Heating
- None
Cooling
- None
Features
- Basement: None
- Has fireplace: No
Interior area
- Total structure area: 1,440
- Total interior livable area: 1,440 sqft
- Finished area above ground: 0
- Finished area below ground: 0
Property
Parking
- Total spaces: 1
- Parking features: Attached, On Street
- Attached garage spaces: 1
- Has uncovered spaces: Yes
- Details: Garage Dimensions (0), Garage Door Height (0), Garage Door Width (0)
Accessibility
- Accessibility features: None
Features
- Levels: One and One Half
- Stories: 1.5
Lot
- Size: 0.3 Acres
- Dimensions: 68 x 165
Details
- Foundation area: 1440
- Parcel number: 070022000
- Zoning description: Residential-Single Family
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family
Materials
- Roof: Metal
Condition
- New construction: No
- Year built: 2018
Utilities & green energy
- Gas: Natural Gas
- Sewer: City Sewer - In Street
- Water: City Water - In Street
Community & HOA
Community
- Subdivision: Peterson Outlots
HOA
- Has HOA: No
Location
- Region: Peterson
Financial & listing details
- Price per square foot: $63/sqft
- Tax assessed value: $95,200
- Annual tax amount: $1,398
- Date on market: 3/24/2026
Estimated market value
Not available
Estimated sales range
Not available
$1,199/mo
Price history
| Date | Event | Price |
|---|---|---|
| 6/22/2026 | Price change | $90,000-10%$63/sqft |
Source: | ||
| 12/28/2025 | Listed for sale | $100,000+488.2%$69/sqft |
Source: United Country #22051-100002 Report a problem | ||
| 10/15/2014 | Sold | $17,000-61.4%$12/sqft |
Source: | ||
| 9/11/2014 | Price change | $44,000-12%$31/sqft |
Source: Vision Property Management Report a problem | ||
| 9/9/2014 | Price change | $50,000+138.1%$35/sqft |
Source: Vision Property Management Report a problem | ||
| 8/20/2014 | Price change | $21,000-2.3%$15/sqft |
Source: Counselor Realty #4052838 Report a problem | ||
| 7/31/2014 | Price change | $21,500-2.3%$15/sqft |
Source: Counselor Realty #4052838 Report a problem | ||
| 7/10/2014 | Price change | $22,000-2.2%$15/sqft |
Source: Counselor Realty #4052838 Report a problem | ||
| 6/18/2014 | Price change | $22,500-4.3%$16/sqft |
Source: Counselor Realty #4052838 Report a problem | ||
| 5/29/2014 | Price change | $23,500-2.1%$16/sqft |
Source: Counselor Realty #4052838 Report a problem | ||
| 5/10/2014 | Price change | $24,000-5.9%$17/sqft |
Source: Counselor Realty #4052838 Report a problem | ||
| 5/6/2014 | Price change | $25,500-3.8%$18/sqft |
Source: Counselor Realty #4052838 Report a problem | ||
| 4/18/2014 | Listed for sale | $26,500+144.2%$18/sqft |
Source: Counselor Realty #4052838 Report a problem | ||
| 4/10/2014 | Sold | $10,850-63.7%$8/sqft |
Source: | ||
| 1/25/2014 | Price change | $29,900-30.3%$21/sqft |
Source: Homepath #4049273 Report a problem | ||
| 12/21/2013 | Price change | $42,900-14%$30/sqft |
Source: Homepath #4049273 Report a problem | ||
| 11/19/2013 | Price change | $49,900-12.3%$35/sqft |
Source: Homepath #4049273 Report a problem | ||
| 10/12/2013 | Listed for sale | $56,900+8.1%$40/sqft |
Source: Key Real Estate #4049273 Report a problem | ||
| 2/7/2013 | Sold | $52,631$37/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,334 +2.5% | $95,200 +7% |
| 2024 | $1,302 +10.5% | $89,000 -0.7% |
| 2023 | $1,178 +2.4% | $89,600 +6.9% |
| 2022 | $1,150 +86.7% | $83,800 +10.4% |
| 2021 | $616 +3% | $75,900 +107.4% |
| 2020 | $598 +107.6% | $36,600 +117.9% |
| 2019 | $288 -49.3% | $16,800 |
| 2018 | $568 | $16,800 +30.2% |
| 2017 | $568 | $12,900 -68.9% |
| 2016 | $568 | $41,500 +50.9% |
| 2015 | $568 | $27,500 -42.9% |
| 2014 | $568 | $48,200 +38.1% |
| 2013 | $568 -3.4% | $34,900 +0.3% |
| 2012 | $588 | $34,800 |
| 2011 | -- | -- |
| 2010 | -- | -- |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: 55962
Nearby schools
GreatSchools rating
- 6/10Rushford-Peterson Elementary SchoolGrades: PK-5Distance: 4.3 mi
- 6/10Rushford-Peterson Middle SchoolGrades: 6-8Distance: 4.3 mi
- 7/10Rushford-Peterson Senior High SchoolGrades: 9-12Distance: 4.3 mi
A local agent can set up tours, give advice and negotiate with sellers.
- Minnesota
- Fillmore County
- Peterson
- 55962
- 116 Mill St



