145 W Franklin Street, Wells, MN 56097

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 & 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.