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$365,000 Just Listed

  • For Sale
  • Active
  • Commercial
  • 6,962 Sq. Ft.
  • 0.16 Acres
  • Updated 3 days ago
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10-unit apartment building for sale, stand alone building in Wells, MN. Self-sustained asset with recent improvements and improved tenancy. 2 studios, 4 single bedrooms, 4 two-bedrooms units. Owner laundry: washer and dryer - not coin operated. Unfinished basement used for storage and supplies. Other rental storage spaces for future opportunity. On street parking. 1 vacancy of a 2-bedroom unit currently being remodeled. Great opportunity for long tern or short term lease.

Full Property Details for 10 1st Ave NW

General

  • Price: $365,000
  • Taxes: $6,334 (2025)
  • Status: Active
  • Type: Commercial
  • Source: NorthStarMLS_RMLS
  • MLS ID: 7016268
  • Updated: 2/3/2026
  • Added to Site: 4 day(s) ago

Parking

  • Parking Features: On-Street Parking Only

Location

  • County: Faribault
  • Township: Wells
  • Subdivision: Village/Wells
  • Driving Directions: From Mankato, take MN-22 south to I-90 east, exit at MN-22 north toward Wells, then turn right onto 1st Ave NW where 10 1st Ave NW will be on your right.

School Information

  • School District: 1041 - United South Central
  • High School District: United South Central

Heating & Cooling

  • Cooling Type: Window Unit(s)
  • Heating Type: Baseboard, Boiler, Forced Air
  • Heating Fuel: Natural Gas

Utilities

  • Sewer: City Sewer Connected
  • Water: City Water (Connected)
  • Utility Description: Electric Separate, Heating Separate, Hot Water Common

Structural Information

  • Basement: Yes
  • Basement Desc.: Storage Space, Unfinished
  • Foundation Size: 3481
  • Roof: Flat, Rubber
  • Disability Access: None
  • Square Feet: 6,962
  • Finished Down/Base.: 6,962 Sq. Ft.
  • Current Bldg. Use: Residential
  • Year Built: 1948

Lot Features

  • Lot Size (Acres): 0.16
  • Lot Dimensions: 70 x 100
  • Frontage: City Street, Paved Streets
  • Zoning: Residential-Multi-Family

Financial Considerations

  • Tax Amount: $6,334
  • Tax Year: 2025
  • Terms: Conventional, Cash, Other
  • Tenant Pays: Electricity
  • Pays Electric: Tenant Pays

Disclosures and Reports

  • Legal Description: ORIGINAL PLAT OF WELLS BLOCK-001 .16 AC E70' OF 7, 8, 9 & 10
  • Inclusions: Building, Leases
  • Property ID: 302000061

Listed by RE/MAX Results

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— 10 1st Ave NW —

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Schools serving 10 1st Ave NW

School District:United South Central School District
NameGradesDistance
United South Central Elementary School
600 11th Street Southwest, Wells, MN 56097
PK-60.9 mi
United South Central High School
600 11th Street Southwest, Wells, MN 56097
7-120.9 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 10 1st Ave NW Get Price Alerts and Save Property

Date
Details
Price
Change
Source
2/03/2026
Listed
$365,000
55.32%
MLS
6/03/2022
Sold
$235,000
—
Public Record
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Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 10 1st Ave NW

Year
Property Taxes
Change
Tax Assessment
Change
2024
$6,334
-1%
$306,600
39%
2023
$6,370
127%
$221,300
-4%
2022
$2,808
15%
$230,300
203%
2022
$2,438
3%
$76,000
34%
2021
$2,368
-13%
$56,800
—
2020
$2,716
12%
$56,800
—
2019
$2,426
59%
$56,800
—
2018
$1,523
-40%
$56,800
—
2017
$2,538
12%
$56,800
-9%
2015
$2,258
—
$62,300
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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10 1st Avenue NW, Wells, MN 56097 (MLS# 7016268) is a Commercial property. 10 1st Avenue NW is currently listed for $365,000 and was received on February 03, 2026. Want to learn more about 10 1st Avenue NW? Do you have questions about finding other Commercial real estate for sale in Wells? You can browse all Wells real estate or contact a Coldwell Banker agent to request more information.

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