The Falls Village Green, located within the Falls Village National Register Historic District, is a one-half acre square lot at the southeast corner of the intersection of Main and Railroad Streets. An asphalted driveway to the east separates the green from a three-story frame commercial structure built or substantially rebuilt in 1901 after a fire. Originally a store, it now houses the town hall and historical society.

The Falls Village Inn to the south dominates the green. Built as a hotel, it is now a restaurant on the first floor and lodging on the upper floors. A private parking and a play area for the tenant's children behind the hotel are clearly visible from the green. To the west, across Railroad Street, is the railroad right-of-way; a scenic excursion train still uses the tracks. Cars associated with a garage across from the Inn are parked along Railroad Street in a disorderly fashion.

Across broad Main Street is a well-kept undeveloped lot adjacent to and owned by the National Iron Bank which is still operating today. A clock in the pediment above the bank entrance recalls the town's affinity to schedules and time.

The Green is well maintained. Vegetation is sparse except for large maple trees along the streets which shade the benches and sidewalk along Main and Railroad Streets. Shrubs are planted around the town sign and the single monument dedicated "to the honor of those of our town who served and sacrificed in love of our country." The monument and the accompanying flagpole are located near the center. The green benefits from colorful flower beds along the north side of the adjacent Inn.

The Inn is the only building that relates to the green. The commercial building to the east of it faces Main Street and the other two streets have no buildings on them. As a result, the green lacks the enclosure that is often typical of a green.