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    Property profile & analytics

    322 Mill St Peterson, MN 55962

    • Investment properties
    • 962 SF
    For Sale
    View listing
    $89,900
    Value Estimation
    Last Sale
    Apr 22, 2025
    $77,000
    Location Intelligence
    Property ID
    US46-2683848
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Investment properties

    Property Details for 322 Mill St

    Year built
    1965
    Property size
    962 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    07.0078.010
    APU
    70078010

    Description

    This 800-square-foot commercial property, located at 322 Mill Street in Peterson, Minnesota, presents a versatile opportunity for a variety of businesses. The split floor plan allows for flexible use, ideal for a small business, artist's studio, retail space, or office. Alternatively, the building could be renovated for residential purposes. The property sits on a 0.02-acre lot, offering a sizable lawn area for green space. Convenient off-street parking is available via an alley behind the building. Its prime location offers exceptional accessibility, being just 400 feet from the Root River Bike Trail. Furthermore, essential amenities such as gas stations, grocery stores, hardware stores, a clinic, and a pharmacy are conveniently located within a 4.5-mile radius. The vibrant Peterson community provides a welcoming atmosphere with seasonal events and activities, and the Root River offers recreational opportunities for tubing, kayaking, and fishing. This property is priced at $89,900 and presents a unique blend of convenience, versatility, and community engagement. The building's size and layout offer significant potential for a variety of uses, making it an attractive investment opportunity in a desirable location.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Peterson
    County
    Fillmore
    State
    Minnesota
    Longitude
    -91.8333
    Latitude
    43.7865
    CBSA code
    40340
    CBSA name
    ROCHESTER, MN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $1,254
    $800
    $53,500
    $54,300
    -
    $800
    $53,500
    $54,300

    Comparable in this City

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      2.00 Acres

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      COMMERCIAL (GENERAL) • 2.00 Acres
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      10.98 Acres

      26332 County 107th S

      COMMERCIAL (GENERAL) • 10.98 Acres
      26332 County 107th S, Peterson, MN 55962
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      1,008 SF

      319 Ml St

      MANUFACTURING (LIGHT) • 1,008 SF
      319 Ml St, Peterson, MN 55962
      View Details
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      308 Ml St

      COMMERCIAL (GENERAL)
      308 Ml St, Peterson, MN 55962-9774
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      29,516 SF

      193 Park St

      COMMERCIAL (GENERAL) • 29,516 SF
      193 Park St, Peterson, MN 55962-9771
      View Details
    • Value Estimation
      $50,000
      2,500 SF

      Peterson, MN 55962

      AUTO REPAIR, GARAGE • 2,500 SF
      Peterson, MN 55962
      View Details

    Similar Nearby for Sale

    • $134,000
      1,600 SF

      318 Mill St, Peterson, MN 55962

      Commercial real estate • 1,600 SF
      318 Mill St, Peterson, MN 55962
      View Details
    • $89,900
      0.07 Acres

      Commercial Property in Peterson, MN

      Commercial property in ideal location near Root River and bike trail.
      318 Mill St, Peterson, MN 55962
      View Details
    • $89,900
      800 SF

      Peterson Commercial Space - Mill Street

      Charming 800 sq ft commercial building.
      322 Mill St, Peterson, MN 55962
      View Details
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    322 Mill St
    Peterson, MN 55962
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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