$1,950,000

Located in the heart of the High Peaks and Keene Valley sits one of the Adirondacks' most beloved small inns. The Keene Valley Lodge and Phelps Cottage comprise three contiguous parcels totaling 2.00± acres: the 1.26± acre Lodge parcel, the adjacent 0.23± acre Phelps Cottage parcel, and a separate 0.50± acre riverfront parcel on the East Branch. The parcels may be acquired together or individually, offering flexibility for buyers seeking the full assemblage or a focused investment. The Lodge is an established bed and breakfast with five guest rooms and two suites. A massive granite fireplace anchors the common room, while a sunny front porch offers views of Rooster Comb, Baxter Mountain, Spread Eagle, and Giant Mountain. Welcoming guests since the early twentieth century, its stone construction, wide-board floors, and hand-hewn details reflect Adirondack craftsmanship that cannot be replicated. A level field beside the Lodge offers potential for outdoor gatherings or expanded hospitality use. The Lodge is within walking distance of Keene Valley's country club, library, hardware store, restaurant and bar, shops, and renowned mountaineering outfitter. Lake Placid is twenty minutes away, and the High Peaks trail network begins at the doorstep. Guests return year after year, many coming to think of the Lodge as their own. Phelps Cottage is a fully appointed three-bedroom rental house with a covered front porch, rear deck, private yard, and path to the river. It operates independently and extends the property's income profile. The separate half-acre parcel on the East Branch of the Ausable, with a small deck at the water's edge, completes the assemblage. The property transfers as an established, high-performing hospitality business with an active reservation system, loyal guest base, and infrastructure that takes decades to build. For a hospitality investor seeking a foothold in one of the Northeast's enduring mountain destinations, it is a rare offering.