Date
Details
Price
Change
Source
4/12/2026
Listed
$138,500
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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$138,500 Just Listed
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Property Description
Commercial property featuring two heated buildings (60x35 and 31x31) along with one cold storage building. Previously utilized as welding and mechanic shops, this versatile space offers endless potential for various uses. Featuring garage space for eight or more vehicles at a time. An office and half bathroom are located in the main/largest building. This space is currently equipped with a natural gas furnace, and a wood burning stove, providing options for your heat source. Additionally, there is ample space on this generous half-acre lot to potentially add another building.
Full Property Details
Full Property Details for 40 2nd St NW
General
- Price: $138,500
- Taxes: $1,404 (2025)
- Status: Active
- Type: Lots/Land
- Source: NorthStarMLS_RMLS
- MLS ID: 7053685
- Updated: 4/12/2026
- Added to Site: 2 day(s) ago
Location
- County: Otter Tail
- Township: Pelican Rapids
- Subdivision: Frazees 1st Add
- Driving Directions: Turn South onto 2nd St NW. Property will be on the right side.
School Information
- School District: 1952 - Pelican Rapids
- High School District: Pelican Rapids
Utilities
- Utility Description: Electricity Available, Electricity Connected, Underground Utilities Available, Water Available, Water Connected
Structural Information
- Year Built: 1950
Lot Features
- Lot Size (Acres): 0.5
- Lot Dimensions: 150 x 150
- Development Status: Other
- Zoning: Business/Commercial
Financial Considerations
- Tax Amount: $1,404
- Tax Year: 2025
- Terms: Contract for Deed, Conventional, Cash
Disclosures and Reports
- Legal Description: SECT-27 TWP-136 RANGE-043 PT N1/2 NW1/4 SEC 27 COM NW COR LOT 6 BLK 3 FRAZEES 1ST ADDN W 66' S 150' TO BG S 150' W 150' N 150' E 150' TO BG
- CC&Rs: Yes
- Restrictions: Open
- Property ID: 76000270038001
Listed by HomeSmart Adventure Realty
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NMLS#: 1598647
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Schools
Schools serving 40 2nd St NW
School District:Pelican Rapids Public School District
| Name | Grades | Distance |
|---|---|---|
Viking Elementary School, Pelican Rapids, MN 1 Viking Trail, Pelican Rapids, MN 56572 | PK-6 | 0.6 mi |
Pelican Rapids Secondary 310 South Broadway, Pelican Rapids, MN 56572 | 7-12 | 0.4 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 40 2nd St NW
Tax History
Tax History for 40 2nd St NW
Year
Property Taxes
Change
Tax Assessment
Change
2025
$352
-26%
$21,600
5%
2023
$476
—
$20,500
-24%
2023
$476
-11%
$27,100
22%
2022
$534
30%
$22,300
6%
2020
$410
7%
$21,000
2%
2019
$384
-2%
$20,500
—
2018
$390
3%
$20,500
2%
2017
$378
2%
$20,100
-1%
2016
$372
-7%
$20,300
-6%
2015
$398
1%
$21,500
-1%
2014
$394
—
$21,700
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 40 2nd St NW
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40 2nd Street NW, Pelican Rapids, MN 56572 (MLS# 7053685) is a Lots/Land property with a lot size of 0.5 acres. 40 2nd Street NW is currently listed for $138,500 and was received on April 12, 2026. Want to learn more about 40 2nd Street NW? Do you have questions about finding other Lots/Land real estate for sale in Pelican Rapids? You can browse all Pelican Rapids real estate or contact a Coldwell Banker agent to request more information.