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$225,000

  • For Sale
  • Active
  • Single Family
  • 2 Beds
  • 2 Partial Baths
  • 2 Car Garage
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Incredible Investment Opportunity - 20 Acre Gravel Pit with Home! Rare chance to own a 20-acre inactive gravel pit with endless potential for resource extraction, or income-generating opportunities. Located in a private and accessible area, this property offers both industrial value and residential potential. Included is a 2-bedroom, 2-bath fixer-upper home - perfect for renovation into an office, rental, or your private residence. With some TLC, this structure can become a comfortable home base or add significant value to your investment. Highlights: 20 acres of land with proven gravel reserves Great access to major roads/highways Existing well, septic, and power 2-bed, 2-bath home with solid structure - needs renovation Perfect for contractors, builders, investors, or anyone seeking a mixed-use property with income potential. Opportunities like this don't come often, schedule your showing today and explore the full potential of this one-of-a-kind property!

Full Property Details for 40576 Co Rd 242

General

  • Price: $225,000
  • Taxes: $1,233 (2025)
  • Status: Active
  • Type: Single Family
  • Source: NorthStarMLS_RMLS
  • MLS ID: 6763625
  • Updated: 12/30/2025
  • Added to Site: 162 day(s) ago

Rooms

Bathrooms

  • Total Bathrooms: 2
  • 3/4 Bathrooms: 2

Bedrooms

  • Total Bedrooms: 2

Other Rooms

  • Dining Room: Kitchen/Dining Room
  • Formal Dining Room: Kitchen/Dining Room

Parking

  • Garage: Yes
  • Attached garage: Yes
  • Garage Description: 26 x 18
  • Garage Spaces: 2
  • Parking Features: Attached Garage, Gravel

Location

  • County: Itasca
  • Township: Cohasset
  • Driving Directions: About 7 miles down CR 63 from Grand Rapids, take a left onto CR 242. 1 mile down CR 242, just past the Rice Lake boat landing. House on the R. Keep left on driveway to house.

School Information

  • School District: 1410 - Grand Rapids
  • High School District: Grand Rapids

Heating & Cooling

  • Cooling Type: None
  • Heating Type: Baseboard
  • Heating Fuel: Electric

Utilities

  • Sewer: Tank with Drainage Field
  • Water: Well

Structural Information

  • Exterior Const.: Block, Concrete, Frame
  • Basement: Yes
  • Basement Desc.: Unfinished
  • Foundation Size: 1092
  • Disability Access: No Stairs External
  • Above Ground: 1,092 Sq. Ft.
  • Below Ground: 1,170 Sq. Ft.
  • Year Built: 1960

Lot Features

  • Lot Size (Acres): 20.2
  • Lot Dimensions: 1326 x 664
  • Zoning: Industrial, Residential-Single Family

Financial Considerations

  • Tax Amount: $1,233
  • Tax Year: 2025
  • Terms: Conventional Rehab, Conventional, Cash, Special Funding

Disclosures and Reports

  • Legal Description: Township 55N Range 27W Section 25 - S 662' OF SW SW
  • Property ID: 690253301

Listed by Grand Properties Real Estate

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Listing agents

— 40576 Co Rd 242 —

  • Grand Properties Real Estate

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NMLS#: 1598647

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Save up to an additional 20% by bundling your home and auto together!

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

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with our affiliated in-house agency

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Save up to an additional 20% by bundling your home and auto together!

Schools serving 40576 Co Rd 242

School District:Grand Rapids Public School District
NameGradesDistance
Cohasset Elementary School
450 Columbus Avenue, Cohasset, MN 55721
K-56.1 mi
Robert J. Elkington Middle School
1000 Northeast 8th Avenue, Grand Rapids, MN 55744
6-810 mi
Grand Rapids Senior High School
800 Conifer Drive, Grand Rapids, MN 55744
9-128.8 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 40576 Co Rd 242 Get Price Alerts and Save Property

Date
Details
Price
Change
Source
12/30/2025
Price Reduced
$225,000
-6.25%
MLS
10/23/2025
Price Reduced
$240,000
-11.11%
MLS
9/24/2025
Price Reduced
$270,000
-9.7%
MLS
8/08/2025
Listed
$299,000
—
MLS
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 40576 Co Rd 242

Year
Property Taxes
Change
Tax Assessment
Change
2025
$1,314
—
$137,700
—
2025
$1,314
85%
$137,500
9%
2023
$710
—
$126,500
17%
2023
$710
—
$108,100
20%
2022
$710
53%
$90,200
—
2021
$464
-9%
$90,200
-3%
2020
$508
-5%
$93,200
100%
2019
$536
8%
100%
2017
$496
—
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Grand Properties Real Estate

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40576 County Road 242, Cohasset, MN 55721 (MLS# 6763625) is a Single Family property with 2 bedrooms, 0 full bathrooms and 2 partial bathrooms. 40576 County Road 242 is currently listed for $225,000 and was received on August 08, 2025. Want to learn more about 40576 County Road 242? Do you have questions about finding other Single Family real estate for sale in Cohasset? You can browse all Cohasset real estate or contact a Coldwell Banker agent to request more information.

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