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  • Price cut: $10K (6/22)
    $90,000

    116 Mill St, Peterson, MN 55962

    1beds
    0baths
    1,440sqft
    : 
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    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
    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.
    101 days
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    372
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    7
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    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#: 7002505MLS Logo

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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

        DateEventPrice
        6/22/2026Price change$90,000-10%$63/sqft
        Source: NorthstarMLS as distributed by MLS GRID #7002505 Report a problem
        12/28/2025Listed for sale$100,000+488.2%$69/sqft
        Source: United Country #22051-100002 Report a problem
        10/15/2014Sold$17,000-61.4%$12/sqft
        Source: Lake Superior Area Realtors as distributed by MLS GRID #2165157 Report a problem
        9/11/2014Price change$44,000-12%$31/sqft
        Source: Vision Property Management Report a problem
        9/9/2014Price change$50,000+138.1%$35/sqft
        Source: Vision Property Management Report a problem
        8/20/2014Price change$21,000-2.3%$15/sqft
        Source: Counselor Realty #4052838 Report a problem
        7/31/2014Price change$21,500-2.3%$15/sqft
        Source: Counselor Realty #4052838 Report a problem
        7/10/2014Price change$22,000-2.2%$15/sqft
        Source: Counselor Realty #4052838 Report a problem
        6/18/2014Price change$22,500-4.3%$16/sqft
        Source: Counselor Realty #4052838 Report a problem
        5/29/2014Price change$23,500-2.1%$16/sqft
        Source: Counselor Realty #4052838 Report a problem
        5/10/2014Price change$24,000-5.9%$17/sqft
        Source: Counselor Realty #4052838 Report a problem
        5/6/2014Price change$25,500-3.8%$18/sqft
        Source: Counselor Realty #4052838 Report a problem
        4/18/2014Listed for sale$26,500+144.2%$18/sqft
        Source: Counselor Realty #4052838 Report a problem
        4/10/2014Sold$10,850-63.7%$8/sqft
        Source: Lake Superior Area Realtors as distributed by MLS GRID #2112133 Report a problem
        1/25/2014Price change$29,900-30.3%$21/sqft
        Source: Homepath #4049273 Report a problem
        12/21/2013Price change$42,900-14%$30/sqft
        Source: Homepath #4049273 Report a problem
        11/19/2013Price change$49,900-12.3%$35/sqft
        Source: Homepath #4049273 Report a problem
        10/12/2013Listed for sale$56,900+8.1%$40/sqft
        Source: Key Real Estate #4049273 Report a problem
        2/7/2013Sold$52,631$37/sqft
        Source: Public Record Report a problem

        Public tax history

        YearProperty taxesTax 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

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        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.
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        Climate risks

        Neighborhood: 55962

        Getting around

        15 / 100
        Car-Dependent
        38 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating

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