$1 Auction - Adirondack Former Hospitality/Retreat Building | 17 Bedrooms | Lake Algonquin

 Investment Highlights

• Former rehabilitation / hospitality property located in Wells, New York, within Adirondack Park, offering a rare repositioning opportunity for hospitality, retreat, lodging, institutional, or adaptive reuse concepts.
• ±8,661 SF, 3-story building on ±2.2 acres with 17 bedrooms, a full commercial kitchen, dining room, study/lounge rooms, and approximately 3,000 SF of basement area.
• No local zoning subject to applicable Adirondack Park Agency land-use requirements. Private lands within the Adirondack Park are regulated through APA land-use classifications, and commercial/tourist uses may require review depending on classification and scope.
• Adirondack destination along Route 30 and Lake Algonquin, with traffic drivers including lakes, rivers, wilderness access, and four-season outdoor recreation.
• Absolute $1 Auction – NO RESERVE! Ralph Passono, Jr. c/o Fisher Auction Company Inc. License: 1 NY Broker No.:10311203946. 

 Offering Summary

Marcus & Millichap is pleased to offer 1454 State Route 30, a unique opportunity to acquire a former rehabilitation/hospitality property in the Adirondack community of Wells, New York. The Property is being offered significantly below replacement cost, presenting a compelling opportunity for owner-users or investors to acquire a well located, adaptive reuse asset at an attractive basis. FIRST BID MEETS RESERVE!

The Property includes a ±8,661-square-foot, 17-bedroom building on ±2.2 acres with a commercial kitchen, dining room, lounge/study areas, basement space, and existing hospitality-oriented infrastructure. Positioned along Route 30 near Lake Algonquin, the asset is well suited for a buyer seeking an adaptive reuse opportunity for lodging, retreat, group housing, wellness, nonprofit, institutional, or other destination-oriented uses, subject to buyer due diligence and applicable approvals. The surrounding Adirondack Park location offers access to outdoor recreation, small-town character, and regional tourism demand, while the reported absence of local zoning may provide additional flexibility, subject to Adirondack Park Agency and other regulatory review.

Wells, New York is a small-town Adirondack submarket in Hamilton County, positioned along Route 30 in the southern Adirondacks and shaped more by tourism, recreation, and second-home demand than by traditional traffic drivers. The town and surrounding area benefit from year-round outdoor appeal tied to lakes, hiking, snowmobiling, and the broader Adirondack visitor economy, while Hamilton County’s economic development efforts continue to support small business and tourism-related activity.