It depends on what space object you want it to be used for. A mini sun doesn't sound like a good enough reason.
A way to give Mars protection from solar wind would be to install a highly magnetic satellite at the Sun-Mars L1 Lagrange point; the wake from that satellite could provide an effective magnetosphere around Mars to keep hydrogen gas in the atmosphere.
A potential way to launch spaceships from Earth would be to install a space elevator through the Earth-Moon L2 Lagrange point; the tip would act as a slingshot throwing ships out of orbit.
Maybe there is a space faring civilization monitoring a less advanced civilization. The best location for a potential base may be at the L3 Lagrange point on the other side of the sun.