Las Vegas, New Mexico
Acreage | 11,162±
Location | Las Vegas, NM
County | San Miguel
Status | Sold
Price | $7,761,760
We are excited to announce the exclusive listing of the Wallace Ranch which is located in the heart of Northeast New Mexico.
This desirable working cattle ranch truly exemplifies the real estate axiom of location, location, location. The ranch fronts I-25 north of Las Vegas at the “Airport” exit and features well controlled access with additional frontage on a well-maintained county road and New Mexico State Highway 518.
Complementing the superb location of the property is the flowing Sapello River frontage along the northern portion of the ranch. The water in the Sapello is the source for the ranch to irrigate 299 acres of productive creek bottom pasture. The ability to irrigate this land provides for additional grazing forage for livestock and wildlife calling the Wallace Ranch home. There are very few ranches in New Mexico that have live running water within their boundaries.
Historical operation of this reputation ranch has been to graze livestock. We believe a stocking rate of a yearling per 12 – 15 acres is generally appropriate, and under normal conditions the property should carry in the neighborhood of 250 – 275 cows. Both of these estimates give consideration to the contribution of the irrigated land.
Terrain on the ranch varies from open rolling pasture land to elevated hills and upland areas, which offer amazing views of nearby Storrie Lake, the community of Las Vegas, the scenic Sangre de Cristo Mountain Range immediately west of the ranch, and of course, rugged Hermit’s Peak, which is one of the most photographed shear rock facings found throughout the mountain range. The open rolling country is comprised of mixed native grasses such as grama, buffalo, western wheat, and bluestem. Portions of this country also support desirable browse such as chemise and ephedra. The elevated hills and upland areas transition to a juniper/piñon blend with scattered ponderosa pine. Scattered groves of cottonwood trees are found along the Sapello River’s edge. It is very common in the early mornings and late afternoons to see significant numbers of elk, scattered whitetail and sometimes mule deer grazing in lush creek bottom pastures. The whitetail deer generally prefer the protected cottonwood groves, while the elk and mule deer travel to the juniper/piñon cover during the day, after they complete their early morning grazing. These areas offer desirable cover and protection for the native wildlife. Elevations on the ranch vary from 6,600 feet on the southern area to 6,900 feet on the northern elevated hills and ridges.
The ranch is fenced into 6 larger pastures and 9 smaller pastures and traps. Interior and exterior fencing is comprised of four and five strand barb wire. Wire and pipe gates along with two track roads provide easy access throughout all pastures on the ranch. Fencing is good on most areas subject to damage from time to time from elk crossing at various locations on the ranch.
Primary livestock water sources consist of electric submersible wells, windmills, solar wells, a flowing artesian well, and a well powered by propane generator. Additionally, the Sapello River and an irrigation canal on the south end of the ranch provide live water for livestock and wildlife. There are several smaller creeks draining through portions of the ranch, and these creeks generally flow some water, or have holes of water throughout. There are 4 water storage tanks with livestock drinkers on pipelines providing water at strategic locations. Seasonal earth stock ponds are located throughout the ranch in most pastures.
The Wallace Ranch headquarter improvements are located on a county road on the north end of the ranch. These improvements overlook the irrigated meadow adjacent to the Sapello River. An older modular home is currently leased to a New Mexico Game and Fish Officer. He has lived on the ranch for approximately three years and is very familiar with the wildlife populations on the property. We would encourage anyone who might be interested in the ranch to visit with this knowledgeable source regarding wildlife on the property. Other improvements include a large wood frame metal barn/shop equipped with a modern 1-bedroom apartment enclosed within this building. This structure is well insulated and has in-floor heating. Additional structures at the headquarters include an equipment and hay storage building, a large old, but well-kept barn, pipe shipping pens equipped with scales and a drive-thru bulk supplement bin.
Historically, the Wallace Ranch has been operated as a commercial cattle ranch, and at times the irrigated native hay meadows have produced large volumes of desirable baled hay as an additional source of income. Because of the fairly recent death of the long-time owner, in recent years, the hay meadows have been grazed by livestock, and of course native wildlife, and hay production has ceased. Water rights from the Sapello River are a valuable and rare asset to the property. These early priority date water rights enhance the productivity of the ranch substantially. Because no commercial hunting has been allowed on the Wallace Ranch, wildlife populations thrive and have increased over the years. Besides having large elk populations, whitetail deer, mule deer and turkey are common. The open plains portions of the ranch have outstanding populations of pronghorn antelope. The ranch supports a great deal of small game, birds and waterfowl. With proper management and development, a small recreational hunting operation is a viable supplemental income generation source on this ranch.
The snowcapped peaks of the Sangre de Cristo Mountains are spectacular in winter months and the snow melt offers the main source of river water for the Sapello through the summer. Recreational access to Angel Fire, Taos, Eagle Nest, and Red River are easy from the Wallace Ranch headquarters.
Las Vegas, New Mexico is located 5 miles southwest of the Wallace Ranch. This community has higher education and lower education, shopping and several good restaurants. As mentioned above, the ranch is located off the Airport exit at I-25. The Wallace is within 10 minutes of an FBO providing ample runway and fuel for private jet traffic. Santa Fe, the state capitol, is only an hour’s drive from the ranch.
Real Estate taxes on the Wallace Ranch are approximately $4,000 annually. One-half of all minerals owned on the ranch will be transferred to a new owner. It is believed that the mineral ownership is fairly substantial.
For the long-term investment minded buyer, the ranch currently has a developed subdivision within its boundaries. There are 15 lots varying in size from 141 acres to 169 acres. This development has previously been platted, surveyed and approved by the county. For the conservation minded buyer, abandonment of the plat may assist in the placement of a conservation easement with advantageous tax benefits. This area of the ranch is known to provide the bedding areas of the resident elk herd on the ranch and has the most scenic views of the mountains, Hermit’s Peak, Storrie Lake and Las Vegas.
In summary, the Wallace Ranch has it all. It is absolutely rare that a ranch with this location, live water, scenic views, outstanding wildlife populations and miles of adjoining highway frontage becomes available in San Miguel County, New Mexico. This working livestock/recreational ranch is priced to sell on today’s market at $695 per deeded acre. If you have been searching for a ranch that will provide you and your family with all you could ask for, this offering deserves your attention.