40 2nd Street NW, Pelican Rapids, MN 56572

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40 2nd Street NW, Pelican Rapids, MN 56572

$120,000

Property Type: Land Lot Size (sq. ft.): 21,780 Status: Closed

Current Price: $120,000 List Date: 4/12/2026 Last Modified: 9/10/2026

Overview

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.

Listing Details MLS# 7053685

General Property Information

Comp Sale YN: No
Development: No
Lot Measurement: Acres
Multiple PIDs?: No
Plat Recorded: Yes
Waterfront YN: No
Yearly/Seasonal: Yearly
Zoning: Business/Commercial
Lot Dimensions: 150x150
Acres: 0.5
Assessment Pending: No

Property Features

Available Utilities: Electricity Available; Electricity Connected; Underground Utilities Available; Water Available; Water Connected Development Status: Other Improvements: Public Road; Storm Sewer Land Inclusions: None Lock Box Type: Combo Sellers Terms: Cash; Contract for Deed; Conventional Topography: Level

Contract Information

Off Market Date: 2026-08-22
Contingency: None
Closed Date: 2026-09-09
Original List Price: 138500
Sales Close Price: 120000
ListPrice: 138500
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 40
Street Name: 2nd
Street Suffix: Street
Street Direction Suffix: NW
Postal City: Pelican Rapids
County: Otter Tail
State: MN
Zip Code: 56572
Complex/Dev/Subdivision: Frazees 1st Add

Assessments

Tax With Assessments: 1404

Builder Information

Builder Restrictions: Open

More Information

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 43
Section#: 27
Township#: 136

Listing Office: HomeSmart Adventure Realty

Last Updated: September - 10 - 2026

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.