$100,000
145 W Franklin Street Wells, MN 56097
For Sale MLS# 7014425
11,346 sq ft Commercial
Details for 145 W Franklin Street
MLS# 7014425
Description for 145 W Franklin Street, Wells, MN, 56097
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 & ImprovementsOver 9000 sq ft of finished space upper and lower level. Main-level bar / gathering areaCommercial kitchen located in the basementBasement space suitable for meetings or eventsElevator providing access between levelsUpdated HVAC systemElectrical upgrades including circuit breaker boxesUpdated flooring and ceiling tilesMain-floor kitchenette with exhaust systemThe sale includes most owned equipment, offering a strong foundation for a buyer looking to reopen or repurpose the space.Utilities & Operating NotesAverage utilities approximately $4,300 per yearLiquor and gambling licenses may be negotiable (buyer to verify)Potential opportunity for pull-tab space rental for supplemental income, subject to approvalsLocationSituated 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 AssistanceBuyers 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.SummaryThis 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 Information
Property Type: Commercial, Business Opportunity
Status: Active
Lot Size: 0.20 Acres
Square Feet: 11,346 sq ft
Year Built: 1949
Foundation: 3,900 sq ft
Stories: 1 Story
Subdivision: Village/Wells
Number Of Units Total: 1
Current Use: Event Space,Restaurant,Tavern/Lounge
County: Faribault
Days On Market: 43
Construction Status: Previously Owned
School Information
District: 2134 - United South Central
Interior Features
Appliances: Exhaust Fan/Hood
Flooring: Floor Drains,Other/See Remarks,Tile,Vinyl/Linoleum
Basement: Concrete Block, Full
Accessibility: Doors 36+, Hallways 42+, Elevator
Additional Interior Features: Ceiling Fan(s)
Utilities
Water: City Water/Connected
Sewer: City Sewer - In Street
Other Utilities: None Available
Cooling: Central
Heating: Forced Air, Natural Gas
Exterior / Lot Features
Open Parking: 30
Parking Description: Parking Lot, Garage Dimensions - 0, Garage Door Height - 0, Garage Door Width - 0, Garage Sq Ft - 0.00
Exterior: Brick/Stone
Roof: Rubber
Lot Dimensions: 64x92
Zoning: Business/Commercial,Other
Topography: Level
Additional Exterior/Lot Features: Land Inclusions - Building,Fixture/Equipment, Road Frontage - City, Paved Streets
Driving Directions
Close to the Railroad Depot historical museum in Wells, MN- park in back or on the street
Financial Considerations
Owner Pays: Broadband,Cable T.V.,Electric,Fuel,Insurance,Janitorial,Lawn,Maintenance/Repair,Snow,Taxes,Trash
Tax/Property ID: 302000060
Tax Amount: 3066
Tax Year: 2026
HomeStead Description: Non-Homesteaded
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Payment Calculator
Interest rate and annual percentage rate (APR) are based on current market conditions, are for informational purposes only, are subject to change without notice and may be subject to pricing add-ons related to property type, loan amount, loan-to-value, credit score and other variables. Estimated closing costs used in the APR calculation are assumed to be paid by the borrower at closing. If the closing costs are financed, the loan, APR and payment amounts will be higher. If the down payment is less than 20%, mortgage insurance may be required and could increase the monthly payment and APR. Contact us for details. Additional loan programs may be available. Accuracy is not guaranteed, and all products may not be available in all borrower's geographical areas and are based on their individual situation. This is not a credit decision or a commitment to lend.
Sales History & Tax Summary for 145 W Franklin Street
Sales History
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Tax Summary
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Data powered by ATTOM Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
Schools
Schools nearby 145 W Franklin Street
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The schools shown represent both the assigned schools and schools by distance based on local school and district attendance boundaries. Attendance boundaries change based on various factors and proximity does not guarantee enrollment eligibility. Please consult your real estate agent and/or the school district to confirm the schools this property is zoned to attend. Information is deemed reliable but not guaranteed.
SchoolDigger ® Rating
The SchoolDigger rating system is a 1-5 scale with 5 as the highest rating. SchoolDigger ranks schools based on test scores supplied by each state's Department of Education. They calculate an average standard score by normalizing and averaging each school's test scores across all tests and grades.
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