Description
Steele County MN farmland for sale - This highly productive 61.92 deeded-acre row crop property in Somerset Township (T106N, R20W) offers investors and farm operators an outstanding opportunity in one of southern Minnesota’s top agricultural counties. With a weighted average Corn Productivity Index (CPI) of 84.0, excellent soil mix, existing drainage improvements, and current cash rent of $250 per acre, this land delivers strong cash flow and long-term appreciation potential.Property Highlights - Total Acres: 61.92 deeded acres - Listing Price: $9,300 per acre ? Total $576,000 - Current Cash Rent: 58 acres rented at $250/acre (open contract for 2027 - buyer can assume, renegotiate, or farm themselves) - 2025 Property Taxes: $4,098 - Soil Productivity: Weighted CPI 84.0 - exceptional for Steele County row crop ground - Topography: Gently rolling to nearly level terrain (elevations 1,260-1,306 ft, mean 1,279 ft) with good field access road already installed on the northeast side - Drainage: Prior tiling in place (maps and photos available) plus naturally well-to-moderately drained soils; minimal additional tiling investment needed Detailed Soil Breakdown (from NRCS/Terrain Report) The farm features a productive mix of high-CPI soils ideal for corn and soybeans: - Reedslake-Le Sueur complex (CPI 98) - 13.7 acres - Webster clay loam (CPI 93) - 13.1 acres - Lester loam variants (CPI 76-67) - Glencoe clay loam (CPI 86), Klossner (CPI 77), Hayden loam (CPI 71-85), and minor inclusions Overall weighted CPI: 84.0 - proven high-yield performance year after year.Financial Snapshot for Investors & Operators - Gross rental income potential: ~$14,500/year at current $250/acre rate - Low carrying costs (taxes $66/acre) - Strong cash-on-cash return potential at the $9,300/acre asking price - Assessed market value (2026) already at $650,400, showing built-in equity Located in Somerset Township, Steele County, Minnesota - just minutes from Owatonna. Excellent road access, close to major grain markets, elevators, and infrastructure. Steele County is renowned for its rich glacial soils, consistent rainfall, and strong demand for high-CPI row crop land.Whether you are a cash-rent investor, active row-crop operator, or looking to expand your Minnesota farmland portfolio, this property checks every box: proven productivity, immediate income, low taxes, and room for value-add improvements.. Keywords for buyers searching: Steele County Minnesota farmland for sale, row crop land for sale MN, high CPI farmland Steele County, cash rent farmland investment, Somerset Township ag land, Minnesota cropland with tile, 60-acre farm for sale near Owatonna.This is turn-key, income-producing row crop ground priced to move. Don’t miss this rare opportunity in one of Minnesota’s most productive ag counties!
Details
| MLS # | 7062229 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Pending |
| Days On Site | 115 |
| Listing Provided By | Midwest Home and Farm Realty | Jen Busch |
Features
| Zoning | Agriculture |
|---|---|
| Acreage | 61.92 |
Utilities
| Utilities | Electricity Available, None Connected |
|---|
Taxes
| Property | 2854 |
|---|
Area Information
| State | MN |
|---|---|
| County | Steele |
| City | Owatonna |
| Zip Code | 55060 |
| School District | 761 |
| High School | Owatonna |
| Listing VS Median (in 55060) | |
Price: $576,000 low | high Med: $329,900 On site: 115 low | high Med: 80.5 | |
Market Activity 55060
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Listings courtesy of Northstar MLS as distributed by MLS GRID.
Based on information submitted to the MLS GRID as of August 23, 2026 at 6:17:51 AM PDT All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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Learn More About This Property
| State | MN |
|---|---|
| County | Steele |
| City | Owatonna |
| Zip Code | 55060 |
| School District | 761 |
| High School | Owatonna |
| Listing VS Median (in 55060) | |
Price: $576,000 low | high Med: $329,900 On site: 115 low | high Med: 80.5 | |