The Church of St. Nicholas the Wonderworker is the oldest stone building in Balakhna and, except for the Nizhny Novgorod Kremlin, in the entire Nizhny Novgorod region. It is notable for being the first stop of the Nizhny Novgorod militia led by Minin and Pozharsky. According to legend, Kuzma Minin was baptized in this church.

The church was built in 1552 in honor of the capture of Kazan by Russian troops, by order of Ivan IV the Terrible. This unique structure is one of only nine stone tent churches preserved in Russia, two of which are located in the Nizhny Novgorod diocese: the Church of St. Nicholas the Wonderworker in Balakhna and the Cathedral of Archangel Michael in the Nizhny Novgorod Kremlin.

The Nicholas Church was closed in 1917, and until that time, it housed the famous miraculous icon of the Mother of God. During the Soviet period, the building was used for workshops of a dairy factory, and later, residential premises. In 2008, services resumed in the restored church.