For Sale: Ranch With Complete Old West Town, Only $3.7 million

A real estate listing in southern Colorado shows a property with all the charm of the Old West and all the New West's amenities. And it can all be yours for a paltry $3.7 million.

The 320-acre private ranch near Saguache, Colorado, (pronounced Sa-Watch) is bordered by Bureau of Land Management and National Forest land. The property includes two ponds, two creeks, three wells and surface irrigation and, according to its listing, “an abundance of wildlife such as elk, deer and antelope.”

The primary residence on the ranch is a three-bed, three-bath “luxury Ponderosa Lodge.” But, as any self-respecting cowboy with ambition would say, that ain’t big enough.

Also included on the property is an entire Old West town, complete with a saloon and restaurant, a general store, a chapel and a dance hall.

For lodging, in addition to three original cabins from the historic Santa Fe Trail Hoaglund Stagecoach depot, there’s a fully operational hotel, an oversized bunkhouse, and 24 RV hookups. That’s 18 beds and 22 baths across the entire property.

And for the cowpoke, there’s a five-stall livery stable and a barn with 17 stalls.

That town big enough for ya?

All The Fixin’s

Lance Bower, an associate broker with Cody’s Canyon Real Estate, is one of the top real estate agents in northwest Wyoming. He has experience selling luxury properties, but nothing like this Colorado ranch.

“We've got a lot of guest lodges in northwest Wyoming for people coming through to access Yellowstone National Park and our national forests,” he told Cowboy State Daily. “There are a lot of guest ranch concepts, but that's pretty unique.”

Bower sees why the ranch would be attractive to a potential buyer. Setting aside the entire Old West town, the property has everything Western-inclined buyers seek.

“They’re looking for water, a lot of trees, mountain views, privacy and (adjacent to) public or federal lands,” he said. “Those properties command a premium, and many people are looking for them.”

The Saguache Old West Ranch checks all those boxes, and 320 acres of premium property in the Rocky Mountain region is more enticing than ever.

More Than A One-Horse Town

While an entire Old West town could seem excessive, Bower believes it’s a good investment, at least in concept. The aesthetic might not be to everyone’s liking, but it demonstrates extensive infrastructure development.

“If they have the appropriate infrastructure like water, power and road access? Absolutely, it would increase its success,” he said.

As it stands, Bower doesn’t think the ranch would be particularly appealing. He believes the most likely buyer would be a posse of like-minded people with a big cash pool.

“There are a lot of large groups, individuals pooling together, that might consider a location with unique characteristics in the Rocky Mountain region,” he said. “People leaving cities who want to collect in an area with safety and peace of mind. And some investors are looking for concepts like that. It's essentially a retreat for people.”

It wouldn’t take much to turn the property into an attractive Old West resort, especially since nearly all that would need to be built is already there. Bower knows there’s a market for that kind of experience.

“There will be many people that would like to vacation there, depending on what it offers,” he said. “Or a group of investors might want to own it and charge daily, weekly, and monthly rates.”

However, that destiny doesn’t seem to be manifesting. The ranch has been on the market since 2021, essentially making it a ghost town with a lot of potential.

Next Stop, Wyoming?

With this kind of development in Colorado, it would seem natural that the potential “gold rush” would wind its way up to its northern neighbor. Are developments like this an inevitability in Wyoming’s future?

Nope, Bower said. Properties in Colorado might seek to emulate the Old West, but most of Wyoming embodies it already, both the good and the bad.

“People like access to medical and services,” Bower said. “That's typically where most tourist dollars are spent. Depending on how far from services someone is, that’ll probably dictate whether you'll get the weeklong stay people or the year-round residents looking for a place to hide.”

Outside of Wyoming’s urban areas like Cheyenne and Casper, access to services can be limited. Wyomingites know how to navigate their needs, but vacationers could find it too stressful for a relaxing trip.

Building an Old West town with modern amenities in Wyoming isn’t a bad idea, but Bower would advise anyone contemplating it to consider location first.

“If it's just a retreat in the middle of Wyoming plains, it's probably going to be a difficult sell,” he said. “We don't see a lot of that out in the middle of nowhere.”

Besides, why build an entire Old West town in Wyoming when you can buy a real one?

Two Vietnamese businessmen bought Buford for $900,000 in 2012, and a group of investors bought Aladdin for an undisclosed amount in 2017. It’s not an unprecedented transaction in the Cowboy State.

So, how much for Wamsutter?

Andrew Rossi can be reached at arossi@cowboystatedaily.com.