Whether you’re a seasoned investor or a newbie looking to build a commercial property portfolio, investing in the Adirondacks presents unique opportunities. Due to the region’s strong tourism economy, steady growth in remote worker population, and rising demand for both retail and hospitality spaces, there are plentiful options when considering best places to buy commercial property in the Adirondacks.
Throughout its history, the Adirondack Park has been a popular vacation location for those looking to escape the hustle of every day life to find relaxation and reconnect to nature. With this in mind, the Park provides plenty of opportunity for investors to add their own unique touch to communities while serving both local residents and tourists.
ADKPP Top Picks – 5 Best Places to Buy Commercial Property in the Adirondacks
The best places to buy commercial real estate in the Adirondacks balance visibility, accessibility, and long-term appreciation, with several towns and villages standing out for investors and entrepreneurs alike. These towns include:
1. Lake Placid
While Lake Placid is most notably known for hosting the Winter Olympics twice over, it has turned into a vibrant hub for tourism and recreation. The bustling downtown area features shops, restaurants, and hotels that attract visitors year-round with Mirror Lake and the Adirondacks as a background. While the winter season may seem like the highest tourism time of the year, summer has the same if not greater draw for visitors to the region. During summer, major events include a two week horse show, Ironman, a Lacrosse & Rugby Tournament and many smaller events.
The Lake Placid area offers four seasons of opportunity for investors to reach potential clients, tourists and locals, with only a short period during the fall (after Columbus Day to Thanksgiving) and spring (April) of slow down. These two month-long periods are generally used by locals and commercial properties to do a deep clean, take a vacation and prepare for the busier upcoming seasons.
Commercial properties here benefit from high foot traffic and a strong local and seasonal customer base, making it an excellent choice for retail, hospitality, and service-oriented businesses.
2. Saranac Lake
Just a short 10 minute drive from Lake Placid, you will find Saranac Lake. This charming village combines small-town appeal with a thriving arts and culture scene. Similar to Lake Placid, you will find 4 seasons of opportunity when purchasing a commercial property. Saranac Lake is a smaller village than Lake Placid with a bit more focus on community events including outdoor, sporting and arts. While smaller community events are offered, there are also larger events throughout the year like a rugby tournament, Northern Current Music Festival and the Winter Carnival.
Those looking to invest in the community will find a great opportunity to open up boutique hotels, outdoor adventure businesses, and specialty shops. Saranac Lake’s proximity to outdoor attractions including a major chain of lakes as well as various mountains and a welcoming community make it a promising location for various commercial ventures.
3. Tupper Lake
A third lakeside community that offers some great upside for new or seasoned commercial property investors is Tupper Lake. As one of the gateway communities to the Adirondacks Mountains, Tupper Lake is currently experiencing a rapid re-build to focus more on local commerce, eco-tourism and outdoor recreation opportunities. These commercial business have begun to thrive with support from both visitors and locals. This community also offers 4 seasons of opportunity with events throughout the year including the Summer Sunset Series, Tupper Lake Field Day, OkTupperfest, and the Brewski that brings locals and visitors together to enjoy the community.
The town’s expanding infrastructure and scenic surroundings make it an ideal spot for various opportunities including outdoor gear shops, restaurants, and eco-friendly accommodations.
4. Old Forge
Famous for its outdoor recreation and family-friendly atmosphere, Old Forge is a popular destination for vacationers. Commercial properties here include motels, retail stores, and adventure outfitters. This community thrives during the warm summer weather and also in winter once there is enough snow for snowmobiling. Late fall into early winter and spring is generally a quieter period in the community where business hours may vary or even close due to the lack of tourism.
Investing in Old Forge can offer access to a steady flow of tourists and outdoor enthusiasts during those higher seasons, but it may have a larger drop off in others depending on what products, services or business you offer.
5. Lake George
Outside of seasonal and waterfront opportunities in Lake George, investors may want to venture into nearby areas such as Lake Luzerne, Queensbury, Mechanicville, Ballston Spa, and Malta. Many of these nearby communities can offer more attractive entry points, strong appreciation potential, and robust rental markets. Much of this has been driven by outdoor recreation, growing professional communities, and proximity to major highways.
Similar to Old Forge you will find periods of time in Lake George where the community almost closes down, making some of the other nearby communities more attractive as a commercial opportunity. Generally the summer into fall is the major season for commercial businesses in Lake George. Winter and spring can be pretty barren throughout the week, while with other communities nearby offer more outdoor activities and shopping opportunities just a short drive south in Queensbury and Saratoga Springs. Lake George’s largest event during the winter is Winter Carnival offering four weekends of activities.
Queensbury is especially notable for its family appeal and year-round rental demand, while Mechanicville and Ballston Spa promise strong growth, lower taxes, and expanding commercial activity.
Additional Areas To Consider
While the list above will be the most notable locations to start your search, there are various other communities that could offer additional opportunities when it comes to purchasing a commercial property. However, these communities may need a little more focused business or service in order to truly thrive.
- Wilmington, NY – Wilmington, NY is a charming community just a short drive away from Lake Placid. Home to Whiteface Mountain, it also has the Ausable River flowing through the center of the community. Whiteface Mountain offers the highest vertical on the East coast while the Ausable River offers some of the best trout fishing that can be found throughout America. Additionally, this community offers one of the largest mountain bike trail systems that can be found throughout the region. These special features attract winter sports enthusiasts and summer explorers alike. The town’s tourism-driven economy supports a range of commercial properties, including ski resort facilities, restaurants, and retail outlets. It’s a prime location for businesses looking to capitalize on more seasonal visitors.
- Keene & Keene Valley, NY – These two communities are in the heart of the Adirondack High Peaks where you will find many of the trailheads for hiking. This provides a unique opportunity for an investor to build a business or provide services to the community. Unfortunately, these communities have a smaller commercial market, so it can be challenging to break into it.
- Plattsburgh, NY – While Plattsburgh, NY does not fall in the traditional Adirondack Blue Line, it is on the Adirondack Coast where it sits on the shores of Lake Champlain. This city continues to grow and add additional businesses and services, attracting visitors as well as locals. Many locals from surrounding communities, as far as Lake Placid and Saranac Lake, make the trip to Plattsburgh to visit box stores, try new food places or have an experience. With its already thriving commercial space, this might be the perfect location for your niche. While there is some seasonality in Plattsburgh, it does not fluctuate as much as some of the smaller communities.
- Malone, NY – Similar to Plattsburgh, NY, Malone offers a larger commercial sector for potential businesses and services. This community can offer some unique opportunities with draws including Titus Mountain, Franklin County Fairgrounds and its proximity and short distance to Canada. This community is a perfect in between gateway to the Canadian boarder and the Adirondack Mountains. Additionally, it is currently on more of a rebuild compared to Plattsburgh, leading to prices on commercial properties to be more affordable. With the right business or service, this community could be great commercial investment.
Why Invest in the Adirondacks?
- Strong Tourism Industry: Most of the communities throughout the Adirondacks have been historically heavy tourism based leading to year-round visitors who are looking to enjoy the quiet life and support hospitality, service and retail businesses.
- Natural Beauty: The stunning landscape attracts outdoor recreation and eco-tourism ventures. Additionally, multiple groups and agencies are in place to help protect the beauty of the Adirondacks thus providing protections on your investments.
- Growing Communities: Many Adirondack towns are experiencing revitalization and expansion leading to continued tourism, community-based projects and growth in opportunities for locals and visitors.
- Quality of Life: The Adirondacks offers one of the most unique quality of life experiences to be found in the United States. The region offers a peaceful environment with a focus on nature, health and community, attracting entrepreneurs and residents alike.
Ready to Find the Perfect Commercial Property?
Our local expertise and extensive listings can help you discover the ideal commercial space in the Adirondacks. Whether you’re a seasoned investor or a new business owner, we’re here to guide you through every step of the process.
Contact us today at Adirondack Premier Properties to learn more about available commercial properties in the Adirondacks and start your journey toward a successful investment!