116 Mill St Peterson, MN 55962
Estimated payment $633/month
About This Lot
Prime Development Opportunity in Scenic Peterson, Minnesota 116 Mill St, Peterson, MN - A versatile 40x36 unfinished building built in 2018, currently classified by the city and county as a garage. This sturdy wood-frame structure sits on a concrete slab foundation with a durable steel roof, white vinyl siding, multiple windows for abundant natural light, an overhead garage door, pedestrian entry, and ample off-street parking on a spacious lot. Sold as-is with no utilities currently connected, this property is a true blank slate-perfect for completing as a custom home, workshop, storage facility, or transforming into an income-producing asset. Located in the heart of Peterson, MN a quaint community along the beautiful Root River and directly on the Root River State Trail-a 60-mile paved paradise for biking, hiking, and year-round recreation in Minnesota's stunning Driftless Region. Just minutes from Lanesboro, the renowned "Bed & Breakfast Capital of Minnesota," this area draws thousands of tourists annually for kayaking, tubing, fishing, fall foliage tours, and small-town charm amid dramatic limestone bluffs and rolling valleys. With its generous size, existing windows, and prime location near trail access and the river, this building holds exceptional potential for conversion into a charming bed and breakfast, VRBO/Airbnb rental, guest cottage, or adventure retreat-tapping into the thriving tourism market of Bluff Country. Don't miss this rare chance to own and customize a modern shell in one of Southeast Minnesota's most picturesque and visitor-friendly destinations. Bring your vision and create something extraordinary!
Listing Agent
United Country Real Estate | Midwest Home & Farm Realty License #40853431 Listed on: 01/02/2026
Property Details
Property Type
- Land
Lot Details
- Potential uses include residential single
Map
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $1,334 | $95,200 | $23,700 | $71,500 |
| 2024 | $1,334 | $89,600 | $23,700 | $65,900 |
| 2023 | $616 | $89,600 | $23,700 | $65,900 |
| 2022 | $616 | $75,900 | $23,700 | $52,200 |
| 2021 | $616 | $36,600 | $16,800 | $19,800 |
| 2020 | $598 | $36,600 | $16,800 | $19,800 |
| 2019 | $288 | $16,800 | $16,800 | $0 |
| 2018 | $256 | $16,800 | $16,800 | $0 |
| 2017 | -- | $12,900 | $12,900 | $0 |
| 2016 | $530 | $41,500 | $12,900 | $28,600 |
| 2015 | $568 | $27,500 | $7,729 | $19,771 |
| 2014 | $568 | $48,200 | $12,900 | $35,300 |
| 2013 | $568 | $34,900 | $7,736 | $27,164 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 01/02/2026 01/02/26 | For Sale | $100,000 | +488.2% | -- | |
| 10/15/2014 10/15/14 | Sold | $17,000 | -35.8% | $15 / Sq Ft | View Prior Sale |
| 10/15/2014 10/15/14 | Pending | -- | -- | -- | |
| 04/15/2014 04/15/14 | For Sale | $26,500 | +144.2% | $23 / Sq Ft | |
| 04/10/2014 04/10/14 | Sold | $10,850 | -80.9% | $9 / Sq Ft | View Prior Sale |
| 04/08/2014 04/08/14 | Pending | -- | -- | -- | |
| 10/11/2013 10/11/13 | For Sale | $56,900 | -- | $49 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | -- | None Available | |
| Special Warranty Deed | -- | Servicelink Llc | |
| Deed | $10,900 | -- | |
| Quit Claim Deed | -- | None Available | |
| Sheriffs Deed | $52,631 | None Available |
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