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Improved Land for Sale in Wilmington, New York

4761 Nys Route 86, Wilmington, NY 12997

$6,900,000
21 acres
Active
$1.8m drop
Est $34,505/mo

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, cafe 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.

4,252
Sq feet
1980
Built

Location

Street address
4761 Nys Route 86
Community
Jay
School district
Lake Placid
Elevation
1,427 feet
Coordinates
44.3476, -73.8769

Directions

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

Property details

Acreage
21.09 acres
Zoning
Commercial
MLS #
ACVMLS 177599
Posted

Property taxes

Recent
$8,364

Parcels

  • 25.-1-11.000

Details and features

Listing

Type
Commercial Sale
Franchise
Engel & Volkers

Lot

View
River, Water

Exterior

Parking
Parking Lot
Features
Lighting

Structure

Basement
Full
Water
Spring
Heating
Electric, Oil, Propane
Cooling
Ductless, Wall Unit(s)
Materials
Frame, Wood Siding
Roof
Metal

Interior

Appliances
Electric Water Heater

Property utilities

CategoryTypeStatusDescription
GasPropaneConnected

Listing history

DateEventPriceChangeSource
Dec 4, 2025Price drop$6,900,000$1,800,000 -20.7%ACVMLS
July 11, 2025Relisted$8,700,000ACVMLS
July 10, 2025Listing removed$8,700,000Listing agent
Aug 15, 2023Price drop$8,700,000$1,578,599 -15.4%ACVMLS
Oct 30, 2022New listing$10,278,599ACVMLS
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This 21.09-acre property is located at 4761 Nys Route 86 in Wilmington, NY 12997. The property is available for sale for $6,900,000. It has a 4,252 sq ft structure built in 1980.

Checked 10 mins ago — Updated

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