Lake Pasture Ranch

Vacant Land for Sale
Also listed as Farm/Ranch
Catylist Listing ID: 30351624
Property Subtypes: Agricultural, Residential (Single Family), Vacation/Resort, Other
Gross Land Area: 1,166 - 1,173 Acres
Sale Price: $2,460,000
Adjacent Parcels Available: Yes
Sale Terms: Cash to Seller, Purchase Money Mortgage
Last Updated: 12/10/2018

Overview / Comments

The property is priced at $2,460,000, or $2,113.00 per acre. This outstanding property is reasonably priced based on all its features. If you are truly searching for that one of a kind home/recreational ranch property or a get-a-way property close to Las Vegas and Santa Fe, the Lake Pasture Ranch is your place.

Income: The property has an array of cellular antennas mounted on a tower on the west side of the property. The lease earns rent of $36,000/year with 3% annual escalation for the next 5 years. The telecommunications company is installing a graded, base coarse road to county standards that runs through the length of the property from County Road A11A to the tower site.

Terrain: Elevations on the Jones Lake Pasture Ranch range from 6,600 to 7,200+ ft. The terrain is open rolling along the lake shore, transitioning to steeper hillside and draws on its western boundary areas. The terrain includes lush meadows, ponderosa pine, pinion-juniper, and a variety of other trees including oak brush which shimmers red and yellow in the fall.

Water: Other than having lake frontage, the Jones Lake Pasture includes a well on the top of the west ridge that is reported to produce 40 gallons per minute, a natural spring flowing to the lower area of the ranch and range stock tanks that fill with summer rains. The spring has run continuously for over 50 years. In addition, the City of Las Vegas has a 10-inch water line that runs across the south end of the property. This water source may be available for future development of home-sites. However, conditional approval for taps will be required by the City of Las Vegas. This line previously provided water to the MDF Plant.

Improvements: The Ranch does not have any structural improvement other that an older set of range pens and perimeter fencing.

Utilities: Electricity, water, telephone, and a fiber optic lines cross the ranch.

Hunting/Recreation: Recreational opportunities on this property includes fishing, hunting, hiking and horseback riding.

Real Estate Taxes: The ranch real estate taxes were $450+/- in 2017.

Further Details: This ranch is assessed as Agricultural Land. This property is governed by both the city and county zoning ordinances. New Mexico State Law allows subdivision of a minimum of 140 acre tracts of land. The City of Las Vegas and County of San Miguel both adhere to the State Law. Any tracts less than 140 acres require the owner or owners to apply to the City of Las Vegas and San Miguel County zoning and planning for their approval. From every acre on this ranch you have views of Storrie Lake and the mesa top views as well as the other surrounding mountain tops that would make attractive home sites. There is considerable development occurring in the immediate vicinity of the property.

Uses of this property are wide open given its very convenient location to Storrie Lake and Las Vegas. Alternatively, should protection of this gorgeous property's current state be an owners goal, granting a conservation easement might be given consideration. The desirable location to Las Vegas, plus the east boundary bordering Storrie Lake, makes this property ripe for future development and perfect for an easement of this nature. Attractive tax credits are possible under this scenario.

Owners indicate they own 100% of mineral rights. All minerals will be conveyed with the sale. The ranch's natural surface minerals include a hill covered in shale on the north side of the ranch.

Multiple additional adjacent parcels are also available from the same portfolio with views, river frontage on the Gallinas River, water rights, ditch access, and ponds, ranging from 56 acres to over 100 acres. Total available land is 1,560 acres±. Inquire with broker.

Additional Details

Nearest MSA: Las Vegas
County: San Miguel
Taxing Authority: San Miguel County
Tax ID/APN: 1-093-097-132-264
Zoning: AGRICULTURAL/RESIDENTIAL
Property Visibility: Good
Legal Description: Tract A shown on "Plat of a Portion of Lands of David E. and Ruth M. Jones in Projected Sections 20, 28, 29, 32, and 33 in T17N R16E NMPM and a portion of Projected Section 4 T16N R16E NMPM in the Las Vegas Grant, San Miguel County New Mexico" by Timothy Ray Oden and recorded on April 3, 1995 in Plat Book 27 Page 139 of the Records of the County Clerk of San Miguel County, New Mexico and mineral rights.
Largest Nearby Street: County Road A11A
Highway Access: The Jones Lake Pasture Ranch is directly accessed by paved road running north from Las Vegas known as 8th Street or North Road or County Road A11A. The property can also be accessed from State Road 108 and Lakeview Drive on the north side of the ranch.
Area Description: This unique ranch has significant frontage along the west side of Storrie Lake and adjoins the Storrie Lake State Park. It is located 2 miles north of Las Vegas, 1 hour from Santa Fe or 2 hours from Albuquerque International Airport. Access is off 8th Street also known as County Road A11A.
Zoning Description: Ag
Topography: Gently Sloping
Easements: Ingress/Egress, Utilities
Easements Description: There is an easement for County Road A11A and an easement granting the cell tower company access from A11A to the cell tower site up on the ridge.
Available Utilities: Electric, Water, Broadband, Internet Access
Water Service: Municipal, Well, Other
Sewer Type: None

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 5,466 12,374
Median Age: 37.18 38.76
Households: 2,284 5,058

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