A ranch near Nederland linked to the family that founded Walmart, and that once hosted artists such as Elton John and Stevie Wonder, has hit the market.
The asking price for the 1,700 deeded acres off Peak to Peak Highway, known as Caribou Ranch, is $48.5 million.
“It’s rare that a property like this comes up for sale,” said listing agent Jeff Buerger with Denver’s Hall and Hall.
The property is owned by Indian Peaks Holdings LLC, which bought it for $32.5 million in June 2014. When the entity registered with the Colorado Secretary of State’s Office, it used the same mailing address in Bentonville, Arkansas, as Walton Enterprises and several other businesses and nonprofits connected to the Walton family of Walmart fame. The registration documents were later updated to remove the Arkansas address.
Buerger wouldn’t confirm the owner’s identity but said his client purchased the land for his family’s use, and now that his children are grown, it’s time to sell.
“For my client, it’s family first. They’ve enjoyed it, but that phase of their life is moving on, and so are they,” Buerger said.
The Walton affiliate bought the property from music producer Jim Guercio, who originally bought more than 4,000 acres in the area in 1971. He turned the property into a recording retreat that drew artists such as Joe Walsh and Elton John, Chicago, Stevie Wonder, Michael Jackson and Earth, Wind & Fire.
After a 1985 fire damaged the recording studio, Guercio sold about half the land to Boulder County and Boulder.
Caribou Ranch is a 10-minute drive to the Eldora Ski Area, and a 30-minute drive to Rocky Mountain National Park.
Buerger said buying the property would be like purchasing a state park or designated wildlife area. The ranch borders Boulder County open space and lies east of the Indian Peaks Wilderness. The owner chose not to hunt on the ranch, which is home to moose, fox, elk and other animals.
With an altitude reaching up to 10,000 feet and the main compound at 8,400 feet, the ranch offers panoramic views of the snow-capped Indian Peaks to the west.
The property includes assorted water rights, several streams, and four trout ponds. North Boulder Creek, Delonde Creek, Fisher Creek, and Como Creek flow year-round through the ranch and are non-navigable by the public, Buerger said.
“It’s got all the bells and whistles to be a fishery,” he said.
Caribou Ranch includes several buildings, including the primary residence, two horse barns, two equipment buildings, five guest cabins, and a six-room lodge with a gathering space. Some buildings date back to the 1880s, when the property was a mining base camp.
The primary residence is a 9,000-square-foot, three-bedroom, two-bath home constructed in the 1980s using an 1860s cabin. Buerger said the two-story building with a walk-out basement includes multiple stone fireplaces but needs to be remodeled or replaced.
The five guest cabins range from 500 to over 3,100 square feet.
“It’s a big piece of ground in a tightly held area,” Buerger said. “I anticipate interest in it will be competitive.”
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Originally Published: August 7, 2024 at 3:00 p.m.
