Downtown Commercial Building for Sale in Wells, MN

Downtown Commercial Building for Sale in Wells, MN | Former American
Legion

9000+ Sq Ft Commercial Property with Elevator & Commercial Kitchen

Located at 145 Franklin Street in downtown Wells, Minnesota, this 9000+ square
foot commercial building offers a rare opportunity to purchase
a large, well-maintained property with a history as a community gathering
space. Formerly operated as the American Legion, the building is
now closed and ready for new ownership, redevelopment, or continued commercial
use.

The property previously operated as a tavern and event venue and held a liquor
license, making it well suited—subject to city and state
approvals—for a variety of future uses including a bar or restaurant, event
center, nonprofit facility, office space, or other commercial purposes.

Building Features & Improvements

This solid commercial structure offers multiple levels of finished space
designed for high occupancy and flexible use:

• Over 9,000 square
  feet of finished interior space
• Main-level gathering
  and bar area
• Commercial
  kitchen located in the basement
• Basement space ideal
  for meetings, banquets, or events
• Elevator
  providing access between floors
• Updated HVAC
  system
• Electrical upgrades
  including circuit breaker panels
• Updated flooring and
  ceiling tiles
• Main-floor kitchenette
  with exhaust system

The sale includes most owned equipment, providing a
strong starting point for buyers looking to reopen or repurpose the building.

Utilities & Operations

• Average annual
  utilities approximately $4,300 
• Property
  Taxes per year $3066 2026
• Potential for pull-tab
  space rental for additional income, subject to licensing

Prime Downtown Wells Location

This property is located in the heart of Wells, MN, near
the historic Wells Depot Museum, and benefits from visibility and
accessibility within the downtown district. Wells serves southern Minnesota and
is conveniently located near regional highways, supporting both local and
destination-based businesses.

Financing Assistance Opportunities

Qualified buyers are encouraged to explore down payment assistance loan
programs that may be available through the City of Wells
EDA and Faribault County, helping reduce
upfront capital requirements.

Summary

With size, infrastructure, and a central downtown location, 145 Franklin
Street presents a versatile commercial opportunity at an
attractive price point. Whether repurposed as a business, event space, or
community facility, this Wells, MN property offers long-term potential in
southern Minnesota.