167 acres west of Steamboat sells for $2.1 million
December 23, 2014
Steamboat Springs — A 167-acre property home to the Bear River Sand and Gravel Co. sold earlier this month for $2.1 million.
The property at 22695 W. U.S. Highway 40 is west of Steamboat Springs and includes both sides of two-thirds of an acre stretch of the Yampa River.
It was sold to Bear River Land LLC, a company registered in Dallas, Texas, who was represented by Chris Paoli, a broker with Colorado Group Realty.
The property has ample wildlife as well as ponds, lakes, streams and large cottonwood trees, according to Ronald Wendler, another Colorado Group Realty broker who acted as the listing agent.
"There's incredible fishing, and definitely lots of wildlife — ducks and geese," Wendler said.
Wendler said that Bear River Land LLC's owner, Greg Brown, also bought the Saddle Ridge Estates subdivision and owns more adjacent land, all near the gravel property.
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He doesn't think that Brown plans to use it for more developments, however.
"I think he's buying it for personal use," Wendler said.
The $2.1 million sticker price was less than the seller was asking for, and the property had been on the market for about two years, he said.
The seller was listed as Lester C. and Ronald Wayne Crawford, who had owned the property since at least 2001, according to county records.
An article in the Steamboat Today in 2010 reported that the gravel mine had an operation history dating back to 1978.
Wendler said he didn't think the new owner planned to continue using the gravel mine as a commercial operation, though it had been operating up until the time of the sale.
"There is still a lot of gravel remaining to be mined," Wendler said. "There's a lot of value in that."
If the gravel on site is cleaned up, Wendler estimated that the value of the property could double.
Rocky Mountain Commercial Brokers, an independent network of commercial brokers, facilitated and announced the sale, which took place Dec. 15.