L & K Ranch in Colorado Elizabeth, Colorado  |  County: Elbert

  • 395+/- Acres
  • 4,700+ SqFt
  • 4
  • 4.5
For Sale
$4,500,000
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L & K Ranch offers 400 acres of beautiful gently rolling hills grading into the Running Creek valley with irrigated hay meadows and excellent buildings including and executive class home, indoor arena and other equestrian facilities located a few miles north of Elizabeth, Colorado. The property is currently used for livestock ranching, hay and equestrian activities. Boasting Pikes Peak Mountain views overlooking the Running Creek Valley, the property has a warm protected surrounding and is ideal for a livestock and/or horse operation and recreational activities. The property is ideally situated for future development into smaller ranchettes, however, the excellent turn-key opportunity exists for someone to own and operate the property in its current configuration.

LOCATION

L & K Ranch lies four miles north of the small cozy town of Elizabeth and 10 miles southeast of Parker, giving convenient access to Denver (30 miles) and Denver International Airport (35 miles). Elizabeth and Parker offer nearly all major services with the Denver area offering the best of everything. The growth along the Front Range of Colorado has spilled into western Elbert County making the property a candidate for development into smaller tracts.

The Parker and Elizabeth areas have become bedroom communities for the greater Denver area. Major highlights of the area among others are the Colorado Horse Park which is becoming one of the premier equestrian event centers in the nation for the English disciplines. Centennial Airport offers one of the finest private airports both along the Front Range and in Colorado with its proximity to the Denver Tech Center as well as the Inverness and Meridian business centers.

The Parker and Elizabeth areas are some of the most highly sought after areas of the Denver Metro-Plex. While Denver is growing at a rapid pace, the direction of development is hemmed in by the mountains to the West and restrictions in both Douglas and Boulder County, leaving the easterly corridor as the best alternatives. Parker, CO has good arterial access via E-470 and Highway 83 to allow multi-directional transportation. The pine tree hills of western Elbert County are highly sought after locations with larger land parcels in limited supply.

ACREAGE

Offering 400+/- total acres, the ranch has approximately 80+/- acres of hayland. Of that, 40 acres is side roll irrigated, 30 acres sub-irrigated hayland and the remaining 10 acres non-irrigated. There is an additional 60 acres of sub-irrigated bottomland pasture along Running Creek, with the balance in upland grazing pastures and building sites. The main home overlooks the Running Creek Valley where the hay fields are located along the willow and Cottonwood lined scenic creek bottom. The property is divided into five primary grazing pastures, one hayfield and two small pastures. There is both working facilities for cattle as well as a hay yard.

The westerly orientation is ideally suited for the view corridor as well as views of Pikes Peak which looms to the southwest. The property has multiple accesses which enhance the property in light of prospective development. The improvements are accessed from County Road 17 and the creek bottom and hay land fronts on County Road 13. The ranch has access to the south on a county road servicing a number of smaller acreage built-out properties.

WATER RIGHTS

L & K Ranch is blessed with exceptional water characteristics from several sources. The ranch is irrigated by water rights from the historic use of the Idyl Weiss Ditch with diversion from Running Creek (Water Court Case No W3120).

Domestic and stock water are provided by two wells (Permit No. 214671 and 214672) each producing 15 GPM. Additional stock water is provided by Running Creek which flows year round and bisects the ranch for nearly one mile.

The ranch has adjudicated the underground “deep” water rights which allow for withdrawal of the water from the deep aquifers within the underlying Denver Basin. The “deep” water rights exclude what the State of Colorado water engineer’s project is necessary to domestic consumption for the next 300 years. The deep water can be accessed by commercial wells for nearly any purpose with the following amounts available for annual withdrawal from each of the aquifers:

Aquifer: Acre Feet/Annually
Dawson: 153.7
Denver: 130.7
Arapahoe: 154.2
Laramie/Fox Hills: 103.5
Total: 542.6

The surface water rights, deep water rights and county road frontages are key components for future development.

IMPROVEMENTS

The center piece improvement is the custom built 4,700+ square foot main home which is a wood frame, Adobe sided, concrete tile roof built home. The interior shows the custom finishes throughout the four-bedroom, four and one-half-bath home which has a main floor master, beautiful great room with Pikes Peak views and custom kitchen with large granite tiled center island, dining room and office. The lower level has a large living area with walkout patio, additional bedrooms, bathrooms, fitness room and utility room. Complemented with three-car garage, beautiful westerly facing patios and landscaping, the main residence has both stature and beautiful views of the scenic countryside. The owner’s home lies towards the middle of the property with a long fenced driveway leading into the home site along a ridgeline.

The property has first class equestrian facilities that would fold in well for any equestrian discipline. The steel framed metal indoor arena (120 x 200) has been used extensively for team roping and working ranch horse events. There are roping chutes and return alleys in the building along with four built in stalls with outdoor runs as well as a tack room. A large outdoor arena (150x300) is set up for roping as well. A round pen and Priefert exercise walker add to the well thought out design.

MINERAL RIGHTS

The owner is willing to convey one-half of the existing minerals and believes they own 354 net mineral acres. With recent interest in oil and gas exploration in the area prior to the last energy decline, having minerals is both lucrative and allows a seat at the table for negotiating leases and drilling locations.

INVESTMENT CONSIDERATIONS

Water Rights: Ground water rights for hay production, but there are more ground water rights that have not been adjudicated. Deep Underground rights – the underground water is adjudicated for withdrawal for commercial purposes which will become more valuable in the future.

Agriculture Production - based upon past history: Cattle – Present inventory is 50 to 60 cows with calves with the calves being weaned after six months at a weight of 600 lbs./calf and sold at market prices. Hay – 240 +/- Tons per year with 90 Tons used in existing cattle operation with 150 tons available for sale at market prices.

Mineral Rights: One-half of the mineral rights on the property are being offered with the sale. The mineral rights were recently leased for $170,000 for 5 years which just ended May 2016.

Development Potential: The lands are well positioned for current development under Elbert County guidelines which are less stringent than other counties in the Denver area.

Existing Building Improvements: The existing custom home, Indoor arena and outdoor facilities provide a great setting for your very own equestrian operation.

These various components of the Property provide a tremendous value to the buyer.

SUMMARY

L & K Ranch offers an extensive holding with grand agricultural characteristics, excellent improvements and exceptional water characteristics. The location of the land and water allows for one of the best future development opportunities available. The capability for a small cattle operation and/or first class equestrian operation with a beautiful owner’s home provide a rare combination in today’s market place allowing the next owner to chart the course of the future while owning a property that is well poised to continue appreciating.

TAXES: $4,749 (2015)

Broker: John Stratman

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