"Historic" Coe Ranch

378.536 Deeded Acres

640.000 New Mexico State Lease Acres

8,556.000 US Forest Permit Acres

10,174.536 Total Acres

  We are privileged to have obtained the exclusive listing on the “Historic” Coe Ranch, which is located near the small community of Glencoe, approximately 12 miles east of Ruidoso Downs, New Mexico. The Coe Ranch is located minutes away from Ruidoso Downs, home of the world-famous Ruidoso Downs Racetrack and All American Futurity. The All American Futurity takes place annually on Labor Day and is the world’s richest Quarter Horse race. Sierra Blanca Regional Airport with an 8,120 foot runway is only a few miles north of the Coe Ranch. For many years, Ruidoso and the surrounding area have been a major tourist/recreation destination for Texans. Ruidoso offers cool summers and the nearby Sierra Blanca Ski Resort is the closest ski area to Texas.

  Frank and Al Coe, early-day pioneers, established the Coe Ranch in 1882. The main block of deeded land is located on the south side of US Highway 70 and consists of 244.543 ± acres. North of Highway 70 is a separate 53.993-acre deeded parcel plus an additional 80-acre deeded parcel. These tracts adjoin the two USFS permits. One permit, known as Devils Canyon contains 4,005 acres, and the other permit, North Coe, contains 4,551 acres. Currently, the cost of these two permits is $1,879.20 annually, and the ranch has the right to run 123 animal units annually on these permits. In addition to the USFS permits, there is a section (640 acres) of New Mexico State Lease that will be assigned in the sale. This property leases for approximately $361.61 per year, and the NMSL allows for an additional eight animal units. These two permits and the New Mexico State Lease are considered to be valuable assets to the deeded portion of the Coe Ranch.

Water Features

  The irrigated portion of the Coe Ranch is considered to be very productive. The ranch has 281-acre feet of State of New Mexico water rights allowing for irrigation of 88 acres along the river.  Of this total, 85 acres have a priority date of 1867, and 3 acres have a priority date of 1947. Historically, approximately 88 acres are irrigated, including 17 acres under a pivot irrigation sprinkler system. The flood-irrigated fields are planted primarily to Fescue grasses, a cool season grass; wheat or triticale is planted under the pivot providing winter grazing. The flood irrigation system has a private diversion dam and private ditch supplied from the Rio Ruidoso River.

  There are two supplemental irrigation wells that can supplement the river water for flood irrigation and fill a reservoir used to pump water to the pivot. At this time, only one of the irrigation wells is in use. This well has a new casing and a new pump. The second irrigation well is not equipped with a pump. There are 4 wells used to provide domestic and livestock water to the main part of the Coe Ranch.

  The two US Forest permits and the 640 acres of NM State Lease are watered by a spring, three solar wells. In addition, there is a well, pump and pipeline system on the adjoining land and the Coe Ranch has a Use Agreement in place that provides livestock water from this well to a portion of the USFS Permit. This well is equipped with an electric submersible pump and the Agreement requires that the owner of the Coe Ranch maintains this well during the term of this Agreement. This Agreement is assignable with the approval of the adjoining landowner (owner of the well). Dirt ponds provide an additional source of livestock water. Both permits have legal access off county road and private easement. Fences are in good condition and are maintained on a continued basis.

  The clear flowing Rio Ruidoso River meanders through the center of the south 244.543 deeded acre tract for a distance of approximately one mile. This river generally flows a good stream of live water, and is a major source of irrigation throughout this valley. At times, at the peak irrigation season and during times of extended drought conditions, the Rio Ruidoso River may stop running, but this is a very scenic river. Massive cottonwood trees, along with poplar trees and some willows are common along the river. To the south of the river, the property quickly elevates to fairly steep hills and mountainside slopes. Elevations range from 5,700 feet along Rio Ruidoso to 7,000 feet on the US Forest Service Permit. Juniper, piñon, oak brush, and scattered ponderosa pines are found at the higher elevations and throughout the rougher more mountainous portions of the ranch, much of which is on the Forest Service Permit.

Coe Ranch Headquarters

  The headquarter improvements are located in a scenic creek bottom setting featuring panoramic views of the mountainside slopes. The centerpiece of the headquarters is the large adobe Spanish style hacienda a portion of which was originally built in 1882. In 2024 the kitchen was upgraded with quartz countertops, an island was added with a granite countertop, and a 48-inch Wolf gas range with 6 burners, a griddle, and two ovens was installed. This historic home remains in excellent condition and was completely renovated and restored in 1985, with additional updates in 2012. The hacienda contains approximately 6,000 square feet and features five bedrooms and 4-1/2 baths. Included with the sale is most of the furniture, appliances, and most of the artwork.

  The yard surrounding the hacienda includes a water feature and an outdoor fireplace. This is a great spot to sit and enjoy the view of the nearby irrigated fields. Elk and other wildlife graze the irrigated fields in the evenings and early mornings, adding to the scenery and peaceful sounds while sitting around the water feature. Landscaping is picturesque with lush grass, trees, and additional sitting areas, perfect for taking in the colorful views.

  There are three other residences used for guests and employees. Each of the homes includes all furnishings. The view from these homes is breathtaking. Guests can also enjoy a game room complete with a bathroom, pool table, and shuffleboard.

The historic Coe barn is still standing but not in use. The Coe Ranch name is visible on the barn and is considered to be a landmark for all who drive by on Highway 70. The current owner recently constructed an additional hay barn and horse shed with pens. The ranch is equipped with 4 horse stalls and a shop, along with a small hay/equipment shed to protect the equipment.

  The working pens are equipped with a covered hydraulic chute and a small set of scales. Included in the sale are most of the: art, household furnishings, appliances, cattle working equipment, panels, miscellaneous tools, and ATVs (see detailed asset list). Other equipment and trailers are available to be purchased separately.

Hunting  •  Wildlife  •  Recreation

  The ranch supports a good population of elk, mule deer, barbary sheep and turkey. It is common to view abundant wildlife feeding and watering on the property. The ranch is currently enrolled in the E Plus program with the NM Department of Game and Fish for bull and cow elk tags. This program was created to benefit private landowners in the state. The New Mexico Department of Game and Fish distributes a portion of the state’s elk hunting opportunity to qualifying private landowners. The deer and barbary can be hunted on the deeded land with over-the-counter tags.

Coe Ranch History

  The Coe Ranch has an amazing history dating back to the Lincoln County War. Frank Coe met and rode with Billy the Kid (William Bonney) during this historic war and they were friends until Billy the Kid was killed by Sheriff Pat Garrett of Lincoln County. Their friendship began in 1877 when Frank Coe was looking for help to harvest a crop of oats. This was when Frank first met Billy the Kid. Frank learned of Billy’s association with John Tunstall and Alexander McSween, who were business partners. Billy was hired by John Tunstall to protect his investments in the ranching and cattle industry. Frank Coe and his cousin George Coe also rode and protected Tunstall and McSween. Tunstall and McSween were rivals of J.J. Dolan and L.G. Murphy. The four were enemies and were responsible for the Lincoln County War. John Tunstall was killed in February, 1878 by a posse formed by men working for Dolan and Murphy. His murder was the start of the Lincoln County War. In retaliation for Tunstall’s murder, Billy the Kid formed The Regulators and sought revenge for his friend’s death. In July 1878 a gun battle occurred and Alexander McSween was killed, thus ending the Lincoln County War. Billy the Kid survived but was eventually killed by Sheriff Pat Garrett on February 14, 1881.

Topography

  tThe topography in Lincoln County is very diverse, ranging from lower elevation semi-arid rolling plains country to foothills and timbered mountains. Sierra Blanca Peak, location of the Sierra Blanca Ski Run, has an elevation of 11,600 feet. Because of the diversity of Lincoln County, precipitation, growing season and annual snow fall vary dramatically. Annual rainfall for the county is approximately 18 inches and average snowfall is 24 inches. Snowfall and total precipitation increase in the higher altitudes. Average temperature in July is 84° and average temperature in January is 23°.

Remarks  •  Price

  The Coe Ranch is a one-of-a-kind property in more ways than just beauty, entertainment, and history. It has a great location, is easily accessible and boasts amazing views, not to mention one mile of the gorgeous Rio Ruidoso River. This property is the perfect place to call home and entertain family and friends. Historically, considerable subdivision is ongoing in the Ruidoso area. Because of the demand for developments and subdivisions, water rights are a very precious commodity. The Coe Ranch has substantial early date priority water rights. These water rights carry a value far and above agricultural use value. There is strong demand from a commercial/municipal use value for water rights in the Rio Ruidoso/Hondo Valley area.

The taxes on the Coe Ranch are approximately $9,580 annually.

The “Historic” Coe Ranch is realistically priced at $4,600,000. All wind energy and solar rights are included along with all owned minerals. The “Historic” Coe Ranch offers a rare opportunity to own one of the most prestigious ranch properties in the Ruidoso area. This ranch has development potential, outstanding access to Ruidoso, and valuable water rights. This premier property represents a sound investment/lifestyle for anyone who enjoys horse racing, snow skiing, the nearby Mescalero Casinos or beautiful golf courses. The ranch is ready to operate, own, and enjoy.

Please give Dwain Nunez (505) 263-7868, or Jim Welles (505) 967-6562 a call for a tour or more information.