$90,000
Original price: $100,000
1 Bed
1,440 sqft (on 0.30 acres)
116 Mill St, Peterson, MN 55962
Est. Mortgage $633/mo*
Get Pre-QualifiedHome Highlights
Single-Family Home
Built in 2018
0.3 acre lot
$63/sqft
1 Car Garage
Local Information
- Map ViewExplore the area around 116 Mill St.
- Schools1 Preschool School1 Elementary School1 Middle School1 High School
- Shop & Eat
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About this House
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.
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.
Last check for updates: about 5 hours ago
Listing courtesy of Jen Busch, (507) 923-7657
Midwest Home and Farm Realty
Source: NorthstarMLS as distributed by MLS GRID, MLS#7002505
Also Listed on NorthstarMLS as distributed by MLS GRID.
Home Details for 116 Mill St
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MLS Status: Active |
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Interior Details Basement: None |
Beds & Baths Number of Bedrooms: 1 |
Dimensions and Layout Living Area: 1440 Square FeetFoundation Area: 1440 |
Heating & Cooling Heating: NoneNo CoolingAir Conditioning: NoneNo Heating |
Fireplace & Spa No Fireplace |
Gas & Electric Gas: Natural Gas |
Levels, Entrance, & Accessibility Stories: 1.5Levels: One and One HalfAccessibility: None |
View No View |
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Exterior Home Features Roof: Metal |
Parking & Garage Number of Garage Spaces: 1Number of Covered Spaces: 1Other Parking: Garage Dimensions (0), Garage Door Height (0), Garage Door Width (0)No CarportHas a GarageHas an Attached GarageHas Open ParkingParking Spaces: 1Parking: Attached,On Street |
Frontage Road Frontage: City StreetResponsible for Road Maintenance: Public Maintained RoadNot on Waterfront |
Water & Sewer Sewer: City Sewer - In Street |
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Days on Market: 180+ |
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Year Built Year Built: 2018 |
Property Type / Style Property Type: ResidentialProperty Subtype: Single Family |
Building Not a New ConstructionNot Attached PropertyNo Additional Parcels |
Property Information Parcel Number: 070022000 |
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Price List Price: $90,000Price Per Sqft: $63 |
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Direction & Address City: PetersonCommunity: Peterson Outlots |
School Information High School District: Rushford-Peterson |
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Listing Agent Listing ID: 7002505 |
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Building Area Building Area: 1440 Square Feet |
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No HOAHOA Fee: No HOA Fee |
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Lot Area: 0.30 acres |
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Contingencies: None |
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Mls Number: 7002505 |
Around this home
Market trends in Peterson
Last updated August 2026
Avg. sale price
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Sale-to-List Price
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Price per sq ft
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Available listings
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Home Value
Learn more about this home's value by checking out the value of nearby homes and how much similar homes have sold for.
Comparable sales
These are recently sold homes that have a similar location or other similar features to this home, like bedrooms, bathrooms, and square footage. Get a sense of the expected prices in the area by viewing these homes.Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
|---|---|---|---|---|---|---|---|
0.99 | Single-Family Home | $560,000 | 04/09/26 | 5 | 2.5 | 3,484 | |
3.51 | Single-Family Home | $295,000 | 08/31/26 | 4 | 2 | 2,124 | |
3.85 | Single-Family Home | $230,000 | 06/25/26 | 4 | 1.5 | 2,868 | |
4.11 | Single-Family Home | $65,000 | 10/23/25 | 3 | 1 | 1,232 | |
4.31 | Single-Family Home | $215,500 | 08/28/26 | 2 | 1 | 1,736 | |
3.97 | Single-Family Home | $330,000 | 06/24/26 | 3 | 2 | 1,966 | |
4.05 | Single-Family Home | $80,000 | 09/26/25 | 3 | 2 | 3,231 |
Nearby home prices
Get a sense of expected prices in the area by checking the value of nearby homes.Address | Distance | Price | Bed | Bath | Sqft | Status |
|---|---|---|---|---|---|---|
0.06 | $170,300 | 2 | 1.5 | 832 | Off Market | |
0.13 | $106,200 | 2 | 1 | 1,234 | Off Market | |
0.18 | $118,800 | 1 | 1 | 1,100 | Off Market | |
0.21 | $168,000 | 3 | 3 | 2,291 | For Sale | |
0.21 | $534,100 | 10 | 9.5 | 5,220 | Off Market | |
0.25 | $290,000 | 3 | 2 | 1,511 | For Sale | |
0.34 | $184,300 | 3 | 2 | 1,344 | Off Market | |
0.99 | $560,000 | 5 | 2.5 | 3,484 | Recently Sold | |
1.37 | - | - | - | - | Off Market | |
1.43 | - | - | - | - | Off Market | |
1.48 | - | - | - | - | Off Market |
Price and Tax history
| Date | Event | Price |
|---|---|---|
Jun 22, 2026 Source: NorthstarMLS as distributed by MLS GRID #7002505 | PriceChange | $90,000 Price decreased by 10% |
Dec 28, 2025 Source: United Country #22051-100002 | Listed For Sale | $100,000 |
Oct 15, 2014 Source: Lake Superior Area Realtors as distributed by MLS GRID #2165157 | Sold | $17,000 |
Sep 11, 2014 Source: Agent Provided | PriceChange | $44,000 Price decreased by 12% |
Sep 9, 2014 Source: Agent Provided | PriceChange | $50,000 Price increased by 138% |
Aug 20, 2014 Source: Agent Provided | PriceChange | $21,000 Price decreased by 2% |
Jul 31, 2014 Source: Agent Provided | PriceChange | $21,500 Price decreased by 2% |
Jul 10, 2014 Source: Agent Provided | PriceChange | $22,000 Price decreased by 2% |
Jun 18, 2014 Source: Agent Provided | PriceChange | $22,500 Price decreased by 4% |
May 29, 2014 Source: Agent Provided | PriceChange | $23,500 Price decreased by 2% |
May 10, 2014 Source: Agent Provided | PriceChange | $24,000 Price decreased by 6% |
May 6, 2014 Source: Agent Provided | PriceChange | $25,500 Price decreased by 4% |
Apr 18, 2014 Source: Agent Provided | Listed For Sale | $26,500 |
Apr 10, 2014 Source: Lake Superior Area Realtors as distributed by MLS GRID #2112133 | Sold | $10,850 |
Jan 25, 2014 Source: Agent Provided | PriceChange | $29,900 Price decreased by 30% |
Dec 21, 2013 Source: Agent Provided | PriceChange | $42,900 Price decreased by 14% |
Nov 19, 2013 Source: Agent Provided | PriceChange | $49,900 Price decreased by 12% |
Oct 12, 2013 Source: Agent Provided | Listed For Sale | $56,900 |
Feb 7, 2013 Source: N/A | Sold | $52,631 |
| Year | Property tax | Tax assessment |
|---|---|---|
| 2025 | $1,334 | $95,200 |
Home facts updated by county records
LGBTQ Local Legal Protections
LGBTQ Local Legal Protections
Jen Busch, Midwest Home and Farm Realty
Agent Phone: (507) 923-7657
Based on information submitted to the MLS GRID as of 2026-09-22 05:13:35 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. Click here for more information
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Frequently asked questions about 116 Mill St
- What is the estimated monthly payment for 116 Mill St?Based on a $90,000 list price with 20% down at today's rates, the estimated monthly payment for 116 Mill St in Peterson, MN is approximately $636 (about $490 principal & interest, $71 property taxes, and $75 homeowner's insurance). This is an estimate. Actual payment depends on your loan terms.
- What are the closest schools to 116 Mill St?The closest schools to 116 Mill St in Peterson, MN are Rushford-Peterson Elementary School (Pre-K, rated 6/10), Rushford-Peterson Middle School (rated 6/10), Rushford-Peterson Senior High School (rated 7/10).
- How big is the lot at 116 Mill St?The lot at 116 Mill St in Peterson, MN is about 0.30 acres (12,894 sq ft).
- Does 116 Mill St have a garage?Yes, 116 Mill St in Peterson, MN has an attached garage.
116 Mill St, Peterson, MN 55962 is a 1 bedroom, 1,440 sqft single-family home built in 2018. This property is currently available for sale and was listed by NorthstarMLS as distributed by MLS GRID on Mar 24, 2026. The MLS # for this home is MLS# 7002505.