There's literally nothing here except for an Inn and an Item Shop (and some strange guy who's just chilling in the back).
However, I definitely recommend staying at the Inn, and upgrading whatever equipment you can at the shop. The monsters in E. Tower will be stronger than what you've encountered before.
I recommend grinding until you can afford at least the Iron Sword and the Iron Bow.
When you're done here, go further east to reach E. Tower.
- Enhancer - examine the cupboard in the northwest room
- Seed of Might - examine the basket in the northeast room