116 Mill St
Peterson, MN 55962
1 Bed
1,440 sqft (on 0.30 acres)
1 Bed
1,440 sqft
(on 0.30 acres)
Local Information
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Description
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. 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. Buyer to verify all intended uses with the city and county.
Home Highlights
Parking
1 Car Garage
Outdoor
No Info
HOA
None
Price/Sqft
$69
Listed
46 days ago
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: 46 |
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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: $100,000Price Per Sqft: $69 |
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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 |
Last check for updates: about 14 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.
Price History for 116 Mill St
| Date | Price | Event | Source |
|---|---|---|---|
| 12/28/2025 | $100,000 | Listed For Sale | United Country #22051-100002 |
| 10/15/2014 | $17,000 | Sold | NorthstarMLS as distributed by MLS GRID #5078240 |
| 09/11/2014 | $44,000 | PriceChange | Agent Provided |
| 09/09/2014 | $50,000 | PriceChange | Agent Provided |
| 08/20/2014 | $21,000 | PriceChange | Agent Provided |
| 07/31/2014 | $21,500 | PriceChange | Agent Provided |
| 07/10/2014 | $22,000 | PriceChange | Agent Provided |
| 06/18/2014 | $22,500 | PriceChange | Agent Provided |
| 05/29/2014 | $23,500 | PriceChange | Agent Provided |
| 05/10/2014 | $24,000 | PriceChange | Agent Provided |
| 05/06/2014 | $25,500 | PriceChange | Agent Provided |
| 04/18/2014 | $26,500 | Listed For Sale | Agent Provided |
| 04/10/2014 | $10,850 | Sold | NorthstarMLS as distributed by MLS GRID #5074930 |
| 01/25/2014 | $29,900 | PriceChange | Agent Provided |
| 12/21/2013 | $42,900 | PriceChange | Agent Provided |
| 11/19/2013 | $49,900 | PriceChange | Agent Provided |
| 10/12/2013 | $56,900 | Listed For Sale | Agent Provided |
| 02/07/2013 | $52,631 | Sold | N/A |
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Property Tax and Assessment
| Year | 2025 |
|---|---|
| Tax | $1,334 |
| Assessment | $95,200 |
Home facts updated by county records
Comparable Sales for 116 Mill St
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 | |
4.11 | Single-Family Home | $65,000 | 10/23/25 | 3 | 1 | 1,232 | |
4.29 | Single-Family Home | $277,000 | 07/09/25 | 2 | 2 | 1,541 | |
4.05 | Single-Family Home | $80,000 | 09/26/25 | 3 | 2 | 3,231 | |
4.32 | Single-Family Home | $175,000 | 10/20/25 | 4 | 2 | 1,312 | |
4.21 | Single-Family Home | $207,050 | 06/23/25 | 3 | 1.5 | 1,386 | |
4.64 | Single-Family Home | $191,500 | 04/30/26 | 2 | 2 | 1,304 | |
4.60 | Single-Family Home | $190,000 | 08/05/25 | 3 | 1.5 | 1,414 | |
4.72 | Single-Family Home | $170,000 | 02/27/26 | 2 | 1 | 1,176 |
Assigned Schools
These are the assigned schools for 116 Mill St.
- Rushford-Peterson Middle School
- 6-8
- Public
- 167 Students
6/10GreatSchools RatingParent Rating AverageN/AOther Review16y ago - Rushford-Peterson Elementary School
- PK-5
- Public
- 254 Students
5/10GreatSchools RatingParent Rating AverageN/AParent Review16y ago - Rushford-Peterson Senior High School
- 9-12
- Public
- 218 Students
7/10GreatSchools RatingParent Rating AverageN/AStudent Review16y ago 
Check out schools near 116 Mill St.
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 2026-05-09 01:43:13 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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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.