Pass Creek Ranch is comprised of 60,004± total acres (27,125± deeded, 24,382± BLM lease, 3,040± state lease, and 5,457± private lease) just ten minutes from the attractive community of Saratoga, WY. The picturesque ranch headquarters lies along Pass Creek, a trout stream which flows through the ranch for approximately four miles, providing water rights for approximately 1,364 acres of irrigated hay fields which surround the headquarters. The ranch improvements include two houses and cattle working facilities, which are high quality and in excellent condition. There is a lease of the ranch in place to a single, high-quality tenant which includes the ranch’s grazing, crops and improvements, but not fishing or hunting. This provides an outstanding income at a high rate of return to the owner. Elk, deer and antelope are plentiful, providing abundant recreational opportunities to complement this quality investment in an owner-rated 1,200 AU working ranch.
The ranch is accessed by county road off Wyoming Highway 130, approximately ten miles north of the attractive community of Saratoga. The headquarters lie along Pass Creek, overshadowed by Elk Mountain which sits approximately eight miles to the east. At 11,152 feet elevation, Elk Mountain stands alone on the northerly end of the Medicine Lodge Mountains, making it a prominent feature in the area. The majority of the irrigated hay base is located at the headquarters and the majority of the range land is located approximately six miles to the northeast.
Saratoga has a population of approximately 1,700 people and provides basic ranch services including public air service at Shively Field Airport, which contains an 8,800-foot asphalt runway. Approximately 30 minutes to the northwest of the ranch is the town of Rawlins (population 9,000) which is the Carbon County seat and offers an increased menu of services, including the Rawlins Municipal Airport.
This area of south-central Wyoming is characterized by high plains, in the general range of 7,000 feet in elevation, which abut the Sierra Madre and Medicine Bow Mountains, rising to over 11,000 feet. The Upper North Platte River begins in these mountains and nearby Colorado and flows north through the town of Saratoga, whose motto is “Where the Trout Leap in Main Street.” This portion of the river is nationally known for its high-quality trout fishing and in Wyoming is classified as blue ribbon trout water from the Colorado state line to Sage Creek, approximately 23 river-miles north of Saratoga. Pass Creek is a tributary of the North Platte not far downstream of Sage Creek.
Saratoga is named for its hot springs, with natural hot water that is clear, odorless, and thought to have medicinal value comparable to the famous springs of Germany. After relaxing at the Hobo Hot Pool, guests often dine at the historic Wolf Hotel.
Just outside of Saratoga, the Old Baldy Club is a prestigious, members-only golf and fly fishing club. It was established in 1962 by George Storer of Storer Broadcasting and offers a country-club experience in a western setting. Old Baldy provides executive accommodations, dining and services highlighted by eighteen holes of championship golf and 80 miles of blue ribbon trout water.
Ranching in Carbon County began in the 1880s with a combination of sheep and cattle ranches. Today ranches in the area are typically large holdings comprised of a combination of private and public land, with ownership typically found in checkerboard fashion. This pattern of ownership dates back to the transcontinental railroad, which was completed in 1869, and was financed in part by land grants to Union Pacific, which was granted every other section of land within 20 miles of the railroad. Like many neighboring ranches, Pass Creek Ranch holds a permit to graze the public Bureau of Land Management (BLM) and State of Wyoming lands in conjunction with the privately deeded lands.
Pass Creek Ranch is a legitimate 1,000+ cow/calf production ranch with strong recreational resources in close proximity to an attractive community. The combination of those amenities puts the ranch in somewhat rare territory, particularly when the investment value is considered - whether based upon cost per acre, cost per animal unit, or rate of return. The nearby mountains offer tremendous scenery, additional recreational opportunities, and supply the ranch’s substantial water resources.
The overall condition of the ranch is very good. Forage has more recently been under-utilized, fences are maintained, additional livestock water has been developed or expanded, homes have been recently renovated, and the cattle-working facilities are relatively new and of high-quality construction.
Pass Creek Ranch is comprised of approximately 60,004 total acres in two units. The Pass Creek unit includes the ranch headquarters and the flood irrigated hay base along Pass Creek, which flows through the ranch for approximately four miles, as well as about one-quarter of the ranch’s rangeland. Approximately six miles to the northeast, the Dana Meadows unit is comprised primarily of native range and irrigated and sub-irrigated meadows for which the area is named. This portion of the ranch also holds significant irrigation water rights as well as a 480 acre-feet storage right in the ranch’s Kinney Reservoir. As is typical in the area, BLM lands are interspersed with many of the deeded lands in checkerboard fashion. The combination of deeded ownership and leased public lands increases the ranch’s carrying capacity and reduces the overall cost per animal unit.
- Deeded - 27,125± acres
- BLM Lease - 24,382± acres
- State Lease - 3,040± acres
- Private Lease - 5,457± acres
- 60,004± Total Acres
|Cost||Term of Lease||AUM's|
|State Grazing - Lease No. 3-7918||$564.30||3.1.09-31.19||N/A|
|State Grazing - Lease No. 3-8027||$659.26||3.1.15-3.1.25||N/A|
|BLM Permit #00827||$1,299.76||6.18.15-4.30.20||616|
|BLM Permit #00828||$248.98||6.18.15-4.30.20||118|
|BLM Permit #00840||$56.97||6.18.15-4.30.20||27|
|BLM Permit #00844||$616.12||6.18.15-4.30.20||292|
|BLM Permit #00847||$27.43||6.18.15-4.30.20||13|
|BLM Permit #00829||$4,319.17||6.18.15-4.30.20||2,047|
Andarko Lease - Audit No. D0987
|1.1-12.31 (Auto Renew)||N/A|
With the exceptions of range corrals, all structural improvements on the ranch are located at the ranch headquarters along Pass Creek. There are two traditional ranch residences, an over-barn apartment, plus a mobile home. One of the traditional residences was built in 1975 and the other in 1990. Both residences have been substantially renovated in 2015 and 2016 and are currently occupied by the lessees.
At the headquarters there is also a barn, calving barn and loafing shed, machine shed and shop, and corrals. Just east of the headquarters is an additional metal barn, with indoor cattle-working facilities and pipe corrals. There are apartment or office facilities upstairs in the newer barn, as well.
The ranch headquarters along Pass Creek is at 6,800 feet elevation with the altitude of the ranch ranging from approximately 6,775 feet to 7,200 feet. In general terms, the closer to Elk Mountain, the more precipitation the ranch receives. As a result, the headquarters which contains the majority of the irrigated hay base receives more rain and heavier snows than does the Dana Meadows section to the north which is primarily comprised of range land.
Climate data for Saratoga shows an average temperature range in July of 82-50 degrees and an average range in January of 33-11 degrees. Annual precipitation averages approximately 10 inches with average annual snowfall of approximately 52 inches.
The ranch is currently leased to a single, high-quality tenant at a rate of $700,000 per year. The lease is for a five-year term, commencing in June, 2015 and expiring April 30, 2020. The tenant has exclusive use for grazing, cultivation of crops and use of all facilities. The tenant is responsible for maintaining the homes, barns, fences, wells and other improvements. The landlord is obligated to contribute $11,500 per year toward upkeep and maintenance as well as paying the taxes and all third-party leases – BLM, state and private.
Pass Creek Ranch supports a variety of wildlife species. Resident herds of deer, elk, and antelope are abundant. When hunting season opens, hunting pressure on nearby public lands pushes additional animals, particularly elk, onto the ranch. The ranch currently receives two landowner tags for each of the three species. In addition, drawing odds for elk are very good because a majority of the hunt unit is privately owned, which limits access and presumably applicants. Elk are found on the ranch most of the year, including the early fall archery season, with larger numbers arriving after the rifle season opens.
Trout fishing is available in Pass Creek. Brown trout are most common with rainbows making up a minority of the population. A 2005 survey found trout from 4-21 inches, with a survey estimate of 405 trout per mile from the Pass Creek confluence to the Interstate 80 bridge. In addition, Kinney Reservoir has been stocked in the past and holds sizeable trout.
Taxes for Pass Creek Ranch are approximately $11,239 based upon previous years.
A basic assessment of the ranch’s water rights was conducted by a professional water resources company. The information contained in their assessment should be seen as a high-level summary of the ranch’s rights based only on Wyoming’s e-permit system. A more thorough review of the ranch’s water rights is necessary to fully understand the current and potential irrigation.
The assessment highlights four active water rights along Pass Creek which total 21.27 cfs with a nominal place of use of 1,489± acres. Considering overlapping place of use, it appears that realistically, roughly 1,180 acres can be irrigated along Pass Creek. Water is conveyed by the Hamilton Ditch and McDonald-Jackson Ditch.
Five active water rights are in the Dana Meadows/Kinney Reservoir area. They total 4.98 cfs and 350± acres of use. In addition, there is a 480-acre-foot storage right for the reservoir. This area is currently used as flood irrigated and sub-irrigated pasture, but has the potential to be converted to sprinkler irrigation.
A summary of the 63 water rights believed to be appurtenant to the ranch is available on request from Hall and Hall. The tables below show the primary irrigation rights. These include the ranch’s flowing water rights on Pass Creek and the Dana Meadows units as well as the Dana Springs/Kinney Reservoir storage rights.
PASS CREEK RANCH IRRIGATION WATER RIGHTS FROM PASS CREEK
|Water Right Number||Associated Permit||Priority Date||Status||Owner||Use||Flow (CFS)||Acres|
Archibald Campbell Et Al
Archie & Joseph Campbell
PASS CREEK RANCH IRRIGATION WATER RIGHTS IN THE KINNEY RESERVOIR/DANA SPRINGS AREA
|Water Right Number||Associated Permit||Priority Date||Status||Owner||Use||Source||Flow (CFS)||Acres/Volume|
H. Peter Hansen
Stock water is provided by a number of sources with reservoirs, spring developments and wells supplementing the smaller streams that are abundant in portions of the ranch’s range. New stock water developments in recent years have increased cattle dispersion and range utilization.
Mineral rights owned by the seller are not offered as part of the sale of the ranch. There is an existing mineral lease that expires in 2017. To the seller’s knowledge, no testing, exploration or development has been conducted.
When considering Pass Creek Ranch, the outstanding 5.5% rate of return from lease revenue immediately grabs your attention. The quality of the tenant, condition of the ranch, and ease of ownership make Pass Creek a very attractive offering for investment-minded buyers. For producers, Pass Creek offers a viable 1,000-1,200 cow operation with excellent water resources, just ten minutes from the attractive small town of Saratoga. The ranch is located in a beautiful part of Wyoming, against the Medicine Lodge Mountains. For the sportsman, the ranch offers excellent big game hunting for elk, deer and antelope, and trout fishing on the ranch as well as in the nearby Blue Ribbon-designated Upper North Platte River.
- 60,004± total acres; comprised of 27,125± deeded acres, 24,382± BLM lease, 3,040± state lease, and 5,457± private lease
- Ten miles from Saratoga, WY
- Four miles of Pass Creek, a year-round trout stream
- Leased through April 30, 2020 at 5.5% rate of return to a single, strong tenant
- 3,113 AUM BLM lease
- 1,364± acres irrigated cropland plus approximately 350 acres irrigated pasture
- 1,200 AU by owner estimate
- Commercial air service in Laramie, WY (1.5-2 hours) or private jet-capable airport (10-minute drive) in/near Saratoga
- Elk, mule deer, whitetail deer, antelope hunting with non-resident landowner tags available
- Fishing in Pass Creek for brook and brown trout and 40± acre Kinney Reservoir for large rainbow trout
- Two ranch residences, mobile home, enclosed livestock barns with scale and cattle-working facilities, pipe corrals, shop, equipment barn, livestock barn and other outbuildings
MANAGEMENT SERVICES – Hall and Hall’s Management Division has a very clear mission–to represent the owner and to ensure that his or her experience is a positive one. Services are customized to suit the owner’s needs. They often begin with the recruiting and hiring of a suitable ranch manager or caretaker and are followed by the development of a management or operating plan along with appropriate budgets. Ongoing services include bill paying, ranch oversight, and consulting services as needed. Even the most sophisticated and experienced ranch owners appreciate the value of a management firm representing them and providing advice on local area practices and costs. Wes Oja and Jerome Chvilicek at (406) 656-7500 or Justin Bryan at (325) 260-5883 are available to describe and discuss these services in detail and welcome your call.
RESOURCE ENHANCEMENT SERVICES – Increasingly the value of a ranch is measured by the quality of each and every one of its resources. Coincidentally, the enhancement of a ranch’s resources also increases the pleasure that one derives from the ownership of a ranch. Our management services have included the assessment of everything from wildlife habitat to bird habitat to water resources and fisheries and the subsequent oversight of the process involved with the enhancement of these resources.Wes Oja, Jerome Chvilicek or Dan Bergstrom at (406) 656-7500 or Justin Bryan in our Abilene office at (325) 260-5883 are available to describe and discuss these services in detail and welcome your call.
AUCTIONS - Hall and Hall Auctions offer “Another Solution” to create liquidity for the owners of Investment-Quality Rural Real Estate. Our auction team has experience in marketing farmland, ranchland, timberland and recreational properties throughout the nation. Extreme attention to detail and complete transparency coupled with Hall and Hall’s “Rolodex” of more than 40,000 targeted owners and buyers of rural real estate help assure that there are multiple bidders at each auction. In addition, the unique Hall and Hall partnership model creates a teamwork approach that helps to assure that we realize true market value on auction day. For more information on our auction services contact Scott Shuman at (800) 829-8747.
APPRAISALS - Staying abreast of ancillary market influences in ever-changing economic conditions requires a broad professional network to tap into. Finding an appraiser who not only understands the numbers but also the differences in value from one area to another is a critical part of making an informed decision. The appraisal team at Hall and Hall, formed entirely of Accredited Members of the American Society of Farm Managers and Rural Appraisers (ASFMRA), has that critical network of brokers and lending professionals. This professional network coupled with diverse experience across multiple regions and market segments allows our appraisal team to deliver a quality product in a reasonable timeframe. For more information contact our appraisal team at (406) 656-7500.
SPECIALIZED LENDING - Since 1946 Hall and Hall has created a legacy by efficiently providing capital to landowners. In addition to traditional farm and ranch loans, we specialize in understanding the unique aspects of placing loans on ranches where value may be influenced by recreational features, location and improvements and repayment may come from outside sources. Our extensive experience and efficient processing allows us to quickly tell you whether we can provide the required financing.
Competitive Pricing | Flexible Terms | Efficient Processing
Dave Roddy • (406) 656-7500
Mike Hall or Judy Chirila • (303) 861-8282
Monte Lyons • (806) 698-6882
J.T. Holt • (806) 698-6884
Hall and Hall Partners, LLP
(Name of Brokerage Company)
REAL ESTATE BROKERAGE DISCLOSURE
When you select a Real Estate Brokerage Firm, Broker or salesperson (all referred to as "Broker") to assist you in a real estate transaction, the Broker may do so in one of several capacities. In accordance with Wyoming's Brokerage Relationships Act, this notice discloses the types of working relationships that are available to you.
Seller's Agent. (Requires written agreement with Seller)
If a Seller signs a written listing agreement with a Broker and engages the Broker as a Seller's Agent, the broker represents the Seller. On properties listed with other brokerage companies, the Broker may work as an agent for the Seller if the Seller agrees to have the Broker work as a subagent. As an agent or subagent for the Seller, the Broker represents the Seller and owes the Seller a duty of utmost good faith, loyalty, and fidelity in addition to the obligations enumerated below for Intermediaries. Wyo. Stat. § 33-28-303(a). The Seller may be vicariously liable for the acts of the Seller's Agent or Seller's Subagent that are approved, directed or ratified by the Seller.
Customer. (No written agreement with Buyer or Seller)
A customer is a party to a real estate transaction who has established no intermediary or agency relationship with any Broker in that transaction. A Broker may work either as an agent for the Seller treating the Buyer as a customer or as an agent for the Buyer treating the Seller as a customer. Also when a Buyer or Seller is represented by another Broker, a Broker may work with the other Buyer or Seller as a customer, having no written agreement, agency or intermediary relationship with either party. A Broker working with a customer shall owe no duty of confidentiality to a customer. Any information shared with Broker may be shared with the other party to the transaction at customer's risk. The customer should not tell the broker any information which the customer does not want shared with the other party to the transaction. The Broker must treat the customer honestly and with fairness disclosing all material matters actually known by the Broker. The Broker owes the Customer the obligations enumerated below for Intermediaries which are marked with an asterisks. W.S. 33-28-310(a).
Buyer's Agent. (Requires written agreement with Buyer)
If a Buyer signs a written Buyer Agency Agreement with a Broker, the Broker will act as an agent for the Buyer. If so, the Broker represents the Buyer and owes the Buyer a duty of utmost good faith, loyalty and fidelity in addition to the obligations enumerated below for Intermediaries. The Buyer may be vicariously liable for the acts of the Buyer's Agent that are approved, directed or ratified by the Buyer. As a Buyer's Agent, Wyoming law requires the Broker to disclose to potential Sellers all adverse material facts, which may include material facts regarding the Buyer's financial ability to perform the terms of the transaction. Wyo. Stat. § 33-28-304(c). As a Buyer's Agent, Broker has duties to disclose to the Buyer certain information; therefore, the Seller should not tell Broker any information which the Seller does not want shared with the Buyer.
Intermediary. (Requires written agreement with Seller and/or Buyer)
The Intermediary relationship is a non-agency relationship which may be established between a Broker and a Seller and/or a Broker and a Buyer. A Seller may choose to engage a Broker as an Intermediary when listing a property. A Buyer may also choose to engage a Broker as an Intermediary. An Intermediary shall not act as an agent or advocate for any party and shall be limited to providing those services set forth below. Wyo. Stat.§ 33-28-305.
As an Intermediary (Non-Agent), Broker will not represent you or act as your agent. The parties to a transaction are not legally responsible for the actions of an Intermediary and an Intermediary does not owe the parties the duties of an agent, including the fiduciary duties of loyalty and fidelity. Broker will have the following obligations to you:
- perform the terms of any written agreement made by the Intermediary with any party or parties to the transaction;
- exercise reasonable skill and care;
- advise the parties to obtain expert advice as to material matters about which the Intermediary knows but the specifics of which are beyond the expertise of the Intermediary;
- present all offers and counteroffers in a timely manner;
- account promptly for all money and property Broker received;
- keep you fully informed regarding the transaction;
- obtain the written consent of the parties before assisting the Buyer and Seller in the same real estate transaction as an Intermediary to both parties to the transaction;
- assist in complying with the terms and conditions of any contract and with the closing of the transaction;
- disclose to the parties any interests the Intermediary may have which are adverse to the interest of either party;
- disclose to prospective Buyers, known adverse material facts about the property;
- disclose to prospective Sellers, any known adverse material facts, including adverse material facts pertaining to the Buyer's financial ability to perform the terms of the transaction;
- disclose to the parties that an Intermediary owes no fiduciary duty either to Buyer or Seller, is not allowed to negotiate on behalf of the Buyer or Seller, and may be prohibited from disclosing information about the other party, which if known, could materially affect negotiations in the real estate transaction.
- disclose Buyer's intent to occupy property as primary residency.
As Intermediary, Broker will disclose all information to each party, but will not disclose the following information without your informed consent:
- that you may be willing to agree to a price different than the one offered;
- the motivating factors for buying or selling the property;
- that you will agree to financing terms other than those offered; or
- any material information about you, unless disclosure is required by law or if lack of disclosure would constitute dishonest dealing or fraud.
Change From Agent to Intermediary -- In-House Transaction
If a Buyer who has signed a Buyer Agency Agreement with Broker wants to look at or submit an offer on property Broker has listed as an agent for the Seller, the Seller and the Buyer may consent in writing to allow Broker to change to an Intermediary (non-agency) relationship with both the Buyer and the Seller. Wyo. Stat. § 33-28-307.
An established relationship cannot be modified without the written consent of the Buyer or the Seller. The Buyer or Seller may, but are not required to, negotiate different commission fees as a condition to consenting to a change in relationship.
Designated Agent. (requires written designation by the brokerage firm and acknowledgement by the Buyer or Seller)
A designated agent means a licensee who is designated by a responsible broker to serve as an agent or intermediary for a Seller or Buyer in a real estate transaction. Wyo. Stat. § 33-28-301 (a)(x).
In order to facilitate a real estate transaction a Brokerage Firm may designate a licensee as your agent or intermediary. The Designated Agent will have the same duties to the Buyer and Seller as a Buyer's or Seller's Agent or Intermediary. The Broker or an appointed "transaction manager" will supervise the transaction and will not disclose to either party confidential information about the Buyer or Seller. The designation of agency may occur at the time the Buyer or Seller enters into an agency agreement with the Brokerage Firm or the designation of agency may occur later if an "in house" real estate transaction occurs. At that time, the Broker or "transaction manager" will immediately disclose to the Buyer and Seller that designated agency will occur.
Duties Owed by An Agent But Not Owed By An Intermediary.
When acting as the agent for one party (either buyer or seller), broker has fiduciary duties of utmost good faith, loyalty, and fidelity to that one party. A broker engaged as an intermediary does not represent the buyer or the seller and will not owe either party those fiduciary duties. However, the intermediary must exercise reasonable skill and care and must comply with Wyoming law. An intermediary is not an agent or advocate for either party. Seller and buyer shall not be liable for acts of an intermediary, so long as the intermediary complies with the requirements of Wyoming’s brokerage relationships act. Wyo. Stat. § 33-28-306(a)(iii).
This written disclosure and acknowledgment, by itself, shall not constitute a contract or agreement with the broker or his/her firm. Until the buyer or seller executes this disclosure and acknowledgment, no representation agreement shall be executed or valid. Wyo. Stat. § 33-28-306(b).
No matter which relationship is established, a real estate broker is not allowed to give legal advice. If you have questions about this notice or any document in a real estate transaction, consult legal counsel and other counsel before signing.
The amount or rate of a real estate commission for any brokerage relationship is not fixed by law. It is set by each Broker individually and may be negotiable between the Buyer or Seller and the Broker.
On (date), I provided (Seller) (Buyer) with a copy of this Real Estate Brokerage Disclosure and have kept a copy for our records.
Brokerage Company; Hall and Hall Partners, LLP
I/We have been given a copy and have read this Real Estate Brokerage Disclosure on (date) ________________ time _______________ and hereby acknowledge receipt and understanding of this Disclosure.
Seller's Signature _______________________________
NOTICE: Offering is subject to errors, omissions, prior sale, change or withdrawal without notice, and approval of purchase by owner. Information regarding land classifications, acreages, carrying capacities, potential profits, etc., are intended only as general guidelines and have been provided by sources deemed reliable, but whose accuracy we cannot guarantee. Prospective buyers should verify all information to their satisfaction. Prospective buyers should also be aware that the photographs in this brochure may have been digitally enhanced.