If you are a commercial investor and looking for a new region to explore , you may find your best place to invest in commercial property in the Adirondacks. Much of the region is driven by tourism which supports unique opportunities in many industries. The Tri-Lakes area of the Adirondacks has significant draw for visitors and residents due to pristine lakes, breathtaking peaks and connection to nature.
In addition to natural resource opportunities, there is room for other industries to grow and offer something new to the community. A current thriving industry is commercial real estate for strategic investors. With the continued growing interest from tourism and lifestyle buyers alike, now could be an ideal time to expand your horizons in our iconic region. At Adirondack Premier Properties, we understand the local market and strive to serve our clients by offering expert advice like our insights on commercial investing below.
ADKPP Top 5 Picks for Best Place to Invest in Commercial Property in the Adirondacks
1. Lake Placid — A Four-Season Economic Engine
Lake Placid is arguably the crown jewel of the Adirondack commercial market. While many believe that Lake Placid primarily a two-season winter or summer destination, it is actually a four-season resort destination. With various activities and events occurring throughout the year, there is ample opportunity for investors to reach both locals and visitors alike.
- Year-Round Tourism Magnet: Lake Placid’s year round opportunities to experience world class activities and events is a constant tourism draw.
- Winter – As a notable two-time Winter Olympic host, Lake Placid draws a large winter tourism base for those looking to experience Olympic magic. The Olympic Center, Olympic Oval, Ski Jumps and Mt Van Hoevenberg offer opportunities to enjoy various winter sports. Additionally, there are various winter World Cup events as well as multi-level competitions that occur throughout the winter including CanAm hockey, a pond hockey tournament and the Empire State Winter Games. Finally, skiing opportunities are next level from world class nordic at Mt. Van Hoevenberg to downhill skiing and snowboarding on the highest vertical in the east only a short 8 minute drive to Whiteface Mountain.
- Spring – Spring is usually the slowest time of year in Lake Placid, but offers a great opportunity for commercial property owners to take a vacation or deep clean their building before the busy summer season. Depending on weather, early spring can offer some of the best skiing when other winter activities may be wrapping up. “Mud season” comes in after the snow melts, often lowering the amount of tourism. If things dry up reasonably quickly, it can be a great time for locals and visitors to hit the lower hiking trails or pull out mountain and road bikes to enjoy nature. You may even find an uptick of locals purveying businesses the might normally avoid during the busiest tourist times.
- Summer – Summer is typically the busiest or second busiest season of the year. With comfortable temperatures and many community events, Lake Placid is a popular summer vacation destination. Days out on the lake, hitting the links, hiking the mountains or experiencing new events help locals and visitors alike create a memorable summer. Events include the Lake Placid Horse Show, Lake Placid Ironman, CanAm Rugby and Summit Lacrosse tournament, each bringing in competitors and spectators from around the world.
- Fall – In recent years, autumn has also become very popular for tourism. While many have always enjoyed pleasant fall weather while seeing the flaming foliage from road, trail or boat, new fall World Cup events have recently. Boosting Lake Placid region fall tourism during a formerly slow tourist period, these new mountain biking events include downhill races at Whiteface and cross country style racing at Mt. Van Hoevenberg.
- Diverse Business Opportunities: In such a popular resort destination, almost every style of investor can have an opportunity to grow. Whether you are looking to expand your retail shop, restaurant, or hospitality venue venture, you will find various spaces that offer steady foot traffic and a local/community base to help your business continue to thrive. Additionally, if you are looking for a mixed-use building or structure that includes both retail and living spaces, there are typically opportunities to find a location that fits.
- Infrastructure Investment: As you research the area and assess your needs, you will discover widespread state and regional support in the community infrastructure. Some examples of this are Olympic facilities improvements as well as local amenity grants. State and regional government investment provides security in future tourism and furthers long term commercial viability.
Why Investors Love Lake Placid: The community’s strong tourism cycles, stable demand and well-established commercial ecosystem provides the perfect opportunity for investors of all types to integrate into the community and solidify continued growth.
2. Saranac Lake — Culture Meets Commerce
If you are looking for a community similar to Lake Placid with a smaller community feel, Saranac Lake may just be the right fit for you. This community is just a short drive from Lake Placid, and more focused in boutique style commercial opportunities. These presents a more boutique commercial opportunity with the following advantages:
- Community & Culture: Compared with larger resort towns like Lake Placid and Lake George, Saranac Lake has a heavy focus on the arts, festivals, and events as well as nature. This focus creates an additional year-round demand for cafes, specialty retail, and boutique hotels. While tourism drives a majority of business, building a strong local presence is essential because there are slow tourist periods throughout the year where locals will keep you supported.
- Outdoor Access: As stated above, a major aspect that draws locals and visitors to Saranac Lake is outdoor access. This community offers easy access to lakes, trails, and outdoor recreation. Right in the heart of the community, Lake Flower is part of a chain of five lakes offering full days of fun on the the water. For hikers, bikers and skiers seeking multiple use trails, there are various trailheads to state land nearby as well as the Adirondack Rail Trail that passes through the community as it runs from Lake Placid to Tupper Lake. Every type of outdoor recreation is easily accessible throughout this community. Adventure gear retailers, outfitters, and service-oriented businesses in particular may be able to find their niche in this community.
- Smaller Market Edge: With Saranac Lake focused on keeping the small resort town feel with a high focus on community, there may be less competition than in Lake Placid. This means more room for creative commercial concepts to gain traction, especially if you are focused on the community.
Why This Matters: While Saranac Lake has built a market, there is still room for more business expansion leading to higher growth potential with relatively lower entry costs.
3. Tupper Lake — The Emerging Outdoor Hub
For investors looking for a unique opportunity in a community that is currently in a revitalization period, Tupper Lake stands out locally, especially for those investors who may be seeking growth potential. While the turn around may not be immediate, this community continues to grow and offer new opportunities.
- Gateway to the Adirondacks: Lately, Tupper Lake has been focusing on expanding local commerce, eco-tourism, and outdoor recreation businesses. These sectors help build a community more Saranac Lake being community and tourism focused for balanced growth.
- Community Events & Activities: Similar to many other of the Adirondack communities, year-round events, seasonal festivals and outdoor recreation keep foot traffic flowing and give local businesses regular revenue opportunities.
- Affordable Entry: With this community currently in a revitalization phase, prices are typically more accessible than in more established tourist centers. This provides a wonderful starting point for any growing business or investor who is looking to find growth.
What Investors May Consider for Tupper Lake: As the community is growing, there is opportunity in almost every sector to build. Whether you are looking to open an outdoor gear retailer, eco-tourism venture, cafe, lifestyle brand or housing, you could see long-term growth.
4. Old Forge — A Classic Resort Economy
Those looking to invest in a classic style Adirondack resort, Old Forge remains one of the Adirondacks’ most recognized vacation destinations. This community has a more notable yearly fluctuation in tourism with summer and winter being the most opportune time to serve tourists. If you are looking to invest in this community, consider these trends:
- Outdoor Recreation Hub: As stated above, this area offers amazing summer and winter activities making it a notable hub for tourists and locals who enjoy outdoor adventures and nature. Summer weather makes for pleasant lake activities and hikes on nearby mountains and hills. The community bustles in winter with snowmobilers enjoying various trail systems and plentiful snowfall. This town’s seasonal appeal draws heavy visitor volume during these seasons.
- Family-Focused Tourism: In addition to outdoor activities, consider alternatives for family or group off days where everyone is seeking to enjoy something all together. High summer visitation and strong winter season numbers could support a focus on hospitality and retail as strong business options moving forward.
Seasonality Note: With the seasonality of Old Forge, always consider that you will have lucrative in peak months but also much quieter off-season periods. This variability is something to plan for and build into your investment projections.
5. Lake George & Southern Adirondacks — Broad Market Potential
This area is just inside the Adirondacks with nearby communities landing slightly outside of the Blue Line. While Lake George is just inside the Park, it is a larger community but offers a similar lifestyle as Old Forge. The Lake George region is also seasonal with noticeable peak months generally in summer and winter. One of the benefits of this tourism community is a shorter commute than communities in the heart of the Adirondacks Unlike more isolated Lake Placid, it offers easy access to larger hubs like Saratoga (30 minutes) or Albany (1 hour). The access to these hubs make it an attractive location for tourism. Lake George and nearby southern communities offer robust commercial markets:
- Tourism & Events: During the summer and winter, Lake George is a well-known destination with high traffic. This makes it a strong spot for retail, hospitality, and entertainment ventures. Additionally, there are various outdoor recreation opportunities if you are looking to expand into that market. Summer offers hiking, water sports, biking and other recreation throughout the communities. During winter, Gore Mountain is a short commute away providing wonderful skiing and snowboarding. There are also opportunities for snowmobiling and cross country skiing.
- Larger Community Base: Those looking to expand slightly may want to look into the nearby towns like Queensbury and Bolton Landing to widen the catchment area for customers and workers. Queensbury offers a larger year-round community providing a great base to help build your business. During the off season, locals and visitors from the surrounding area help keep business steady .
Opportunity Tip: Look at mixed markets (town/village pairs) where commercial property prices may be more attractive while still benefiting from Lake George’s strong regional draw.
4 Key Considerations – Best Place to Invest in Commercial Property in the Adirondacks
Whether you’re focused on storefront retail, hospitality, or mixed-use developments, here are the key dynamics shaping commercial real estate in the Adirondacks:
1. Year-Round Tourism Continues to Expand
Compared to as little as 10 years ago, many Adirondack towns have continued to expand and search for ways to draw visitors through all seasons, not just summer and winter. With expansion trends, businesses who tap into local and tourist customers alike will be the best supported through down times. Focusing on both groups provides longevity as well as better profits. While the expansion of year round tourism has been building, spring time (late March to May/June) can still be a challenge for off season tourism due to weather swings. During this period, local community support can provide continued success.
2. Lifestyle & Outdoor Brands Thrive
The Adirondacks are known for outdoor recreation opportunities and opportunities to connect with nature making it the ideal place for lifestyle and outdoor brands to thrive. From adventure outfitters to boutique cafes and wellness hubs, recreation-oriented commercial concepts resonate with both residents and visitors.
3. Local Community Support Matters
As stated above if you plan on investing in a community in the Adirondacks, be sure to focus on local community support. Whether it is a seasonal destination or a busier area, local residents will help support your business on a regular basis and can also help tourists become aware of your business through word of mouth. In smaller markets like Saranac Lake and Tupper Lake, residents often welcome thoughtful investment that enhances community life for a win-win for investors and neighbors alike.
4. Vital Role of Local Real Estate Advisors
When you are ready to start your search for the perfect commercial property investment in the Adirondacks, we always suggest working with a strong local commercial real estate agent. A knowledgable agent can answer your questions and provide deep insight on zoning regulations, seasonal trends and market demand on properties. This knowledge will help make the process smoother and help you maximize returns when you move forward.
Investing in commercial property across the Adirondacks isn’t just about owning space. It’s about becoming a part of the community and a dynamic regional economy where tourism, outdoor living, and lifestyle growth fuel long-term demand. Whether you choose Lake Placid’s established market or a rising community like Tupper Lake or Saranac Lake, the Adirondacks offer a compelling mix of beauty, community, and commercial opportunity waiting to be unlocked.
If you are interested in starting your investment journey with commercial real estate in the Adirondacks, Adirondack Premier Properties is here to help. We’d love to hear from you about about your next venture and answer any questions you have about our region. Call us at 518-523-3333 today!