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Michael Kreho

mike.kreho@engelvoelkers.com +1(518) 524-9516

$ 6,900,000

Est. payment -/mo

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Price Dropped by $1.8M

4761 NYS Route 86 Wilmington, NY 12997

4,252 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Business

Listing Status Active

Purchase Type For Sale

Square Footage 4,252 sqft

Price per Sqft $1,622

MLS Listing ID 177599

Year Built 1980

Annual Tax Amount $8,364

Lot Size 21.090 Acres

Acres 21.09

Property Sub-Type Business

Source Adirondack-Champlain Valley MLS

Property 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.

Location

State NY

County Essex

Zoning Commercial

Direction From Lake Placid to Route 86 E toward Wilmington for 7.8 miles, High Falls Gorge will be on the left.

Body of Water Ausable West Branch

Rooms

Basement Full

Interior

Heating Electric, Oil, Propane, Other

Cooling Ductless, Wall Unit(s)

Inclusions Fixtures, Equipment, Furniture

Appliance Electric Water Heater

Exterior

Exterior Feature Lighting

Parking Features Parking Lot

Utilities Available Internet Available

View Mountain(s), River, Trees/Woods, Water

Roof Type Metal

Street Surface None

Accessibility Accessible Restroom

Road Frontage None

Building

Foundation Block

Water Spring

Structure Type Frame,Wood Siding

Schools

School District Lake Placid

Others

Senior Community No

Tax ID 25.-1-11.000

Security Features Carbon Monoxide Detector(s),Fire Alarm

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Standard

Virtual Tour https://youtu.be/TzzY7Lq9Wa0

Listed by Colleen Holmes • Engel & Volkers Lake Placid Real Estate

Michael Kreho

Licensed Real Estate Salesperson

+1(518) 524-9516

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