For Sale: Wells MLS# 7014425
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Property Description
This commercial building located at 145 Franklin Street in downtown Wells, Minnesota presents a versatile opportunity for business owners, investors, or community organizations. Formerly operated as the American Legion, the building is now closed and ready for new ownership and redevelopment.
The property previously held a liquor license and was used as a tavern, meeting space, and event venue. Subject to city and state approvals, future uses may include a bar or restaurant, event center, nonprofit facility, office space, or mixed-use commercial property.
Building Features & Improvements
Over 9000 sq ft of finished space upper and lower level.
Main-level bar / gathering area
Commercial kitchen located in the basement
Basement space suitable for meetings or events
Elevator providing access between levels
Updated HVAC system
Electrical upgrades including circuit breaker boxes
Updated flooring and ceiling tiles
Main-floor kitchenette with exhaust system
The sale includes most owned equipment, offering a strong foundation for a buyer looking to reopen or repurpose the space.
Utilities & Operating Notes
Average utilities approximately $4, 300 per year
Liquor and gambling licenses may be negotiable (buyer to verify)
Potential opportunity for pull-tab space rental for supplemental income, subject to approvals
Location
Situated in downtown Wells, the building is located near the Wells Depot Museum and benefits from a visible, central location within the community. Wells offers convenient access to surrounding southern Minnesota communities and regional highways.
Financing Assistance
Buyers are encouraged to inquire with the City of Wells EDA and Faribault County regarding possible down payment assistance loan programs, which may be available to qualified buyers.
Summary
This downtown Wells commercial property offers size, infrastructure, and flexibility at an affordable price point. With a history as a successful community gathering space and recent mechanical and interior updates, 145 Franklin Street is well suited for redevelopment or continued commercial use. Buyer to verify zoning, licensing, and permitted uses.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$100,000
Property Type:
Commercial
City:
Wells
Garage Spaces:
0
County:
Faribault
Year Built:
1949
State:
MN
Property Style:
1 Story
Zip Code:
56097
Subdivision Name:
Village/Wells
Interior
Ceiling Height:
8-10
Flooring:
Floor Drains, See Remarks, Tile, Vinyl
Refrigerators:
Three
Appliances Included:
Exhaust Fan
Basement Details:
- Block
- Full
Exterior
Stories:
One
Garage Spaces:
0
Garage Dimensions:
0
Garage Door Height:
0
Garage Door Width:
0
Air Conditioning:
Central Air
Foundation Size:
3,900 ft2
Foundation Dimensions:
50x78
Handicap Accessible:
Doors 36"+, Accessible Elevator Installed, Hallways 42"+
Road Responsibility:
Public Maintained Road
Heating System:
Forced Air
Parking Features:
Parking Lot
Unit Amenities:
Ceiling Fan(s)
Road Frontage:
- City Street
- Paved Streets
Exterior Material:
- Block
- Brick
Roof Details:
Rubber
Lot & Land
Acres:
0.2
Geolocation:
43.7454309937, -93.7274919794
Inclusions:
Building, Fixture/Equipment
Lot Dimensions:
64 x 92
Zoning:
- Business/Commercial
- Other
Farm
Topography:
Level
Schools
School District:
1041
District Phone:
5075533134
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$3,066
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$3,066
Units
Total Units:
1
Miscellaneous
Current Use:
- Bar/Tavern
- Event Space
- Restaurant
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer - In Street
Available Utilities:
None Available
Water System:
City Water/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.