Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    4761 Nys Route 86 Wilmington, NY 12997
    Back to Search
    Property profile & analytics

    4761 Nys Route 86 Wilmington, NY 12997

    View on Map
    • Amusement parks
    • 4,252 SF
    • 21.09 lot acres
    For Sale
    $6,900,000
    View Listing →
    Iconic Adirondack Nature Attraction For Sale
    $6,900,000
    21.09 Acres

    Iconic Adirondack Nature Attraction

    Turnkey tourism business opportunity in the heart of the Adirondacks.

    4761 NYS Route 86, Wilmington, NY 12997
    View Listing
    Property ID
    US63-2063584
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Amusement parks

    Property Details for 4761 Nys Route 86

    Year built
    1980
    Lot size
    21.09 lot acres
    Property size
    4,252 SF
    Zone code
    05 - COMMERCIAL
    Property type
    Amusement parks
    APN
    155400 25.-1-11.000
    APU
    15540025111000

    Description

    This exceptional 21.09-acre property in Wilmington, NY, presents a unique investment opportunity: the High Falls Gorge, a renowned Adirondack nature park and tourist attraction. Operating successfully for over 72 years, this turnkey business offers a timeless blend of natural beauty and historical significance. The 4,252 square foot facility boasts multiple revenue streams, including ticket sales, a gift shop, food and beverage services, and a venue for weddings and other events. Nestled in the heart of the Adirondacks, the park enjoys a prime location with high tourist traffic. Its features include over 2,000 feet of waterfront access on both sides of the West Branch of the Ausable River, three steel bridges, 350 feet of steel walkways, manicured trails, and a dedicated event space. The property is strategically situated, completely surrounded by state park land and abutting Whiteface Mountain Ski Resort to the north. High visibility is ensured by 2,000 feet of road frontage with ample signage opportunities and a large off-street parking lot. The property's zoning allows for hydroelectric production, presenting additional potential for expansion and revenue generation. Significant growth opportunities exist through the expansion of events and the addition of interactive visitor experiences, making this a truly remarkable investment prospect.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    Essex
    State
    New York
    Longitude
    -73.8771
    Latitude
    44.348

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $8,920
    $330,500
    $213,900
    $544,400
    -
    $413,125
    $267,375
    $680,500

    Comparable in this City

    • Value Estimation by Request
      4,368 SF

      352 Whiteface Memorial Hwy

      AMUSEMENT PARK • 4,368 SF
      352 Whiteface Memorial Hwy, Wilmington, NY 12997
      View Details
    • Value Estimation by Request
      3,310 SF

      324 Whiteface Memorial Hwy

      AMUSEMENT PARK • 3,310 SF
      324 Whiteface Memorial Hwy, Wilmington, NY 12997-1910
      View Details
    • Value Estimation by Request
      750 SF

      5660 Nys Rte 86

      DRIVE-THRU RESTAURANT, FAST FOOD • 750 SF
      5660 Nys Rte 86, Wilmington, NY 12997
      View Details
    • Value Estimation
      $1,935,000
      2,664 SF

      5239 Nys Rte 86

      MOTEL • 2,664 SF
      5239 Nys Rte 86, Wilmington, NY 12997-2000
      View Details
    • Value Estimation by Request
      1,046 SF

      5861 Nys Rte 86

      OFFICE/RESIDENTIAL (MIXED USE) • 1,046 SF
      5861 Nys Rte 86, Wilmington, NY 12997
      View Details
    • Value Estimation by Request
      5,954 SF

      5941 Nys Rte 86

      MOTEL • 5,954 SF
      5941 Nys Rte 86, Wilmington, NY 12997-2510
      View Details

    Similar Nearby for Sale

    • $6,900,000
      4,252 SF

      Iconic Adirondack Nature Attraction

      Turnkey tourism business with waterfalls, restaurant, and retail.
      4761 Nys Route 86, Wilmington, NY 12997
      View Details
    • $6,900,000
      21.09 Acres

      Iconic Adirondack Nature Attraction

      Turnkey tourism business opportunity in the heart of the Adirondacks.
      4761 Nys Route 86, Wilmington, NY 12997
      View Details
    • $995,000
      85.40 Acres

      Adirondack Land Development Opportunity

      85+ acres near Whiteface Mountain, ideal for development or retreat.
      5192 Ny-86, Wilmington, NY 12997
      View Details
    • $240,000
      29.70 Acres

      29.7 Acres Wooded Land

      Wooded 29.7-acre lot in Jay and Wilmington, New York.
      Mellow Way, Wilmington, NY 12997
      View Details
    • $299,000
      16.00 Acres

      Secluded Adirondack Land Parcel

      16-acre lot near Lake Placid, ideal for a dream home.
      Whiteface Mt. Memorial Hwy, Wilmington, NY 12997
      View Details
    • $995,000
      85.40 Acres

      Prime Adirondack Land Opportunity

      85+ acres near Whiteface Mountain with development potential.
      5192 Ny-86, Wilmington, NY 12997
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4761 Nys Route 86
    Wilmington, NY 12997
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    4761 Nys Route 86, Wilmington, NY, 12997
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!