For Sale: Owatonna MLS# 7062229
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Property 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!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$576,000
Property Type:
Farm
City:
Owatonna
County:
Steele
State:
MN
Property Style:
Other
Zip Code:
55060
Lot & Land
Acres:
61.92
Geolocation:
43.9539098118, -93.1659666091
Inclusions:
None
Lot Dimensions:
1331 x 2650
Wooded Acres:
0
Restrictions:
Open
Zoning:
Agriculture
Farm
Farm Type:
Crop
Crop Type:
Beans, Corn
Crop Acres:
0
Tillable Acres:
58
Pasture Acres:
0
Topography:
Gently Rolling, Level
WRP Acres:
0
Schools
School District:
761
District Phone:
5074448610
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$2,854
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$2,854
Association Fee Required:
No
Association Fee:
None
Taxable Acres:
61.92
Miscellaneous
Development Status:
Raw Land
Improvements:
Public Road
Available Utilities:
- Electricity Available
- None Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Midwest Home and Farm Realty.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.