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.