SOURCE: J. P. King Auction Company

J. P. King Auction Company

October 02, 2013 16:59 ET

242-Acre, Riverfront Ranch to Sell at Auction Through J. P. King Auction Company

A Property With 242 Acres, River Frontage and Adjoining the San Juan National Forest Will Be Offered at Auction to the Highest Bidder at or Above $2 Million; The Auction Will Be Conducted by J. P. King Auction Company

BAYFIELD, CO--(Marketwired - Oct 2, 2013) - Located between Durango and Pagosa Springs, Colorado, the Piedra Springs Ranch consists of 242 acres of riverfront land with views of nearby Chimney Rock. The property will be offered at auction on October 10 through J. P. King Auction Company. Formerly listed at $9.75 million, Piedra Springs Ranch will sell with a minimum bid at or above $2 million.

"It took us over a year to find the right property. We looked all over the country, but when we found this one, we knew this was it," said Sam AlDabbagh, who has owned the ranch for 20 years. "It's just beautiful. There's a lake, wonderful views, a national forest, two rivers, the horses loves it; you have it all."

In addition to the mile of frontage on the Piedra River, there is also 2,200 feet of frontage on US Highway 160, and Yellow Jacket Creek cuts through the property. Bordering the San Juan National Forest, Mr. AlDabbagh said he and his family have used the property for hunting, and that there is also plenty of opportunity for other summer and winter recreation.

"I like to tell people that we have over a million acres," Mr. AlDabbagh joked. He explained: "Our property connects directly to the San Juan National Forest, and we're connected to it in a way that no one else can be. The river goes for a mile through the property. One side is mine and the other is two million acres of national forest. It provides exceptional hunting because there's nothing competing with all the elk and deer that are all over the property."

Mr. AlDabbagh has also housed racing horses at the property for years. With that, he has built stables, corrals, a 3/8-mile track and two barns. A four-bedroom country home and a guest house are also located on the property, along with an eight-acre lake.

The auction will take place on Thursday, October 10 at 11 a.m. on the property, which is located at 701 County Road 175 in Bayfield. Property previews are available by appointment through auction day. For additional information, individuals may contact J. P. King at 800.558.5464 or visit the company's website at www.jpking.com.

About J. P. King: J. P. King Auction Company specializes in high-value properties such as luxury homes, condominiums, land and ranches. The company has marketed properties in all 50 states and six countries with recent events in Idaho, Alabama, Kentucky, Washington and New York.

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