Adirondack Real Estate

Explore a curated selection of Adirondack real estate, including land, waterfront properties, and homes for sale. As both a builder and licensed real estate professional, we help clients evaluate opportunities and plan what comes next.

We have the experience to find an Adirondack property and turn it into a home.

4761 NYS Route 86, Wilmington, NY 12997

$6,900,000
Property Type: Commercial Sale Square Footage: 4,252 Lot Size (sq. ft.): 918,680 Status: Active
Current Price: $6,900,000 List Date: 7/10/2025 Last Modified: 12/30/2025

Description

High Falls Gorge - Iconic Adirondack Nature Attraction & Turnkey Tourism Business. Now repositioned at $6,900,000, this long-established, fully operational, year-round attraction offers an unmatched investment opportunity in the heart of the Adirondacks. The property spans 22 acres with over 2,000 feet of Ausable River frontage, featuring dramatic waterfalls, steel walkways, and renovated bridges that create a safe, immersive visitor experience in all seasons. Significant 2024 capital improvements exceeding $1M include steel staircases, structural supports, decking, fencing, and an award-winning industrial paint restoration—ensuring durability and reduced long-term maintenance. A 4,200 sq ft lodge includes a gift shop, restrooms, and a fully equipped commercial restaurant with seating across indoor, lounge, and outdoor areas. The business operates with proven systems and multiple revenue streams including ticketed admission, retail, café services, and private events. Ideally situated adjacent to Whiteface Mountain Ski Resort and minutes to Lake Placid, the location benefits from the region's strong year-round tourism traffic. This turnkey operation blends natural beauty, infrastructure, and consistent visitation—offering stability with room for future growth. A Legacy Ready for Its Next Steward—High Falls Gorge has been cared for by the same family for generations. The offering represents not just a business opportunity, but the chance to steward one of the Adirondacks' most iconic natural landmarks. With its blend of natural wonder, turnkey operations, and recent investment, this property is positioned for immediate continuity and long-term growth under new ownership.

More Information MLS# 177599

Contract Information

Short Term Rental Options: Unknown Current Price: $6,900,000 List Price: $6,900,000 Status: Active Listing Contract Date: 2022-10-29 Property Sub Type: Business Listing Agreement: Exclusive Right To Sell

Location, Tax, and Legal

Tax Annual Amount: 8364.36 Land Tax Annual Amount: 4986.32 Deed Date: 2005-12-07

General Property Information

Tax Assessed Value: 544400 Enhanced Accessible: Yes Building Area Total: 4252 Year Built: 1980 Lot Size Acres: 21.09 Waterfront YN: 1 Water Body Name: Ausable West Branch

Status Change Information

Status Change Timestamp: 2025-07-10 Back on Market Date: 2023-10-09 Major Change Timestamp: 2025-12-04T22:44:48Z Major Change Type: Price Reduced Price Change Timestamp: 2025-12-04T22:44:48Z

Accessibility Features

Accessible Restroom: 1

Appliances

Electric Water Heater: 1

Basement

Full: 1

Construction Materials

Frame: 1 Wood Siding: 1

Cooling

Ductless: 1 Wall Unit(s): 1

Deed Details

Instrument: Deed Page: 224 Volume: 1491

Documents Available

Deed: 1 Survey: 1

Electric

200+ Amp Service: 1

Exterior Features

Lighting: 1

Financial Details

School Taxes: 3378.04 Village Taxes: 0

Foundation Details

Block: 1

Frontage Type

Frontage Length: 2000

Heating

Electric: 1 Oil: 1 Propane: 1 Other: 1

Listing Terms

Cash: 1 Conventional: 1

Lot Features

Borders State Land: 1 Near Public Transit: 1

Parking Features

Parking Lot: 1

Road Frontage Type

None: 1

Road Surface Type

None: 1

Roof

Metal: 1

Security Features

Carbon Monoxide Detector(s): 1 Fire Alarm: 1

Special Listing Conditions

Standard: 1

Utilities

Internet Available: 1

View

Mountain(s): 1 River: 1 Trees/Woods: 1 Water: 1

Water Source

Spring: 1

Tenant Pays

None: 1

Building Features

Kitchen: 1

Included

Equipment: 1 Fixtures: 1 Furniture: 1

Showing Requirements

24 Hour Notice: 1

Location Tax and Legal

Street Number: 4761 Street Name: NYS Route 86 County: Essex State: NY Postal Code: 12997 Subdivision Name: None MLS Area Major: Jay, Wilmington Township: Wilmington School District: Lake Placid Parcel Number: 25.-1-11.000 Zoning: Commercial Directions: From Lake Placid to Route 86 E toward Wilmington for 7.8 miles, High Falls Gorge will be on the left.

Property Features

Accessibility Features: Accessible Restroom Appliances: Electric Water Heater Basement: Full Building Features: Kitchen Construction Materials: Frame; Wood Siding Cooling: Ductless; Wall Unit(s) Documents Available: Deed; Survey Electric: 200+ Amp Service Exterior Features: Lighting Foundation Details: Block Heating: Electric; Oil; Propane; Other Included: Equipment; Fixtures; Furniture Listing Terms: Cash; Conventional Lot Features: Borders State Land; Near Public Transit Parking Features: Parking Lot Road Frontage Type: None Road Surface Type: None Roof: Metal Security Features: Carbon Monoxide Detector(s); Fire Alarm Special Listing Conditions: Standard Tenant Pays: None Utilities: Internet Available View: Mountain(s); River; Trees/Woods; Water Water Source: Spring Showing Requirements: 24 Hour Notice
Listing Courtesy of Engel & Volkers Lake Placid Real Estate
IDX
Broker Attribution: colleen.holmes@evrealestate.com

Information deemed reliable but not guaranteed.