COMPLETE FLY FISHER Wise River, Montana
$8,500,000
14± Acres
“When you arrive at Wise River, you look up and down the valley and congratulate yourself on finding the real Montana … [CFF] was, and still is, the perfect spot for a fly-fishing lodge.” — Fly Fisherman Magazine
Established in 1968, The Complete Fly Fisher has hosted anglers for nearly six decades on one of Montana’s most recognized trout fisheries. The property is situated on the Big Hole River near its confluence with the Wise River, an exceptional setting in the heart of the Big Hole Valley, with immediate access to productive water and a classic Southwest Montana landscape.
The Big Hole serves as the primary fishery, with seasonal hatches, wild trout, and extensive blue-ribbon stretches close at hand. In addition, several of the region’s marquee rivers, including the Beaverhead, Jefferson, and Bitterroot, are within practical driving distance, providing operational flexibility and variety when conditions dictate.
Today, the Complete Fly Fisher operates as a full-service fly-fishing lodge. Guests typically enjoy guided drift boat fishing on the Big Hole and surrounding waters, complemented by on-site lodging, chefprepared meals, and access to equipment and gear. The current model is designed to be highly turnkey, with staff handling trip logistics so the guest experience remains the focus.
Opportunities of this profile are uncommon: a long-operating lodge with an established market presence in a premier Montana river corridor. With nearly six decades of continuous operation, a loyal global clientele, and five-star reviews across Google and TripAdvisor, the business arrives with an established and highly regarded reputation that is nearly impossible to replicate. Whether a buyer chooses to continue the lodge’s storied fly fishing operations or convert the property into a private luxury compound, the possibilities are as expansive as the Montana landscape itself. For those seeking a turnkey business with deep roots, a proven track record, and an unmatched setting on one of the West’s most celebrated trout rivers, the Complete Fly Fisher stands in a class of its own.
What is included in the sale:
• Real Estate (land and improvements)
• River Permits
• Operation Inventory (boats, fly shop, etc.)
1 Complete Fly Fisher | Wise River, Montana
• On the Big Hole River, the Complete Fly Fisher is the premier all-inclusive fly fishing lodge and outfitter guide in Southwest Montana (est 1968)
• Widely regarded as one of the state’s premier fly angling operators
• A permit portfolio decades in the making with more permitted days on the Big Hole and Beaverhead than any other outfitter in Montana
• Attractive, recently updated guest accommodations anchored by a Frank Lloyd Wright-inspired main lodge, six guest cabins, and a signature red barn featuring additional guest quarters and an on-site fly shop
• Commanding Big Hole River position across 14± acres, featuring 1,000± feet of frontage and a true riverfront lodge compound feel
• Continue as a legacy turnkey lodge/outfitting operation or reposition as a private riverfront compound with multiple residences and guest quarters
• Turnkey business opportunity with the permits, equipment, and fly shop inventory included in the sale
• The CFF operates on the Big Hole, Beaverhead, Jefferson, Missouri, Bitterroot, Clark Fork rivers, as well as Rock Creek
• Two miles from Wise River, Montana
• 35± minutes from Butte, Montana
• Under 1 hour from the fly angling town of Dillon, Montana
• 1 hour and 30 minutes from Bozeman-Yellowstone International Airport
Among the most significant assets included with this property is an unmatched portfolio of guided fishing permits, representing more permitted days than any other outfitter holds on both the Big Hole and Beaverhead rivers. The operation carries 585 permit days on the Big Hole River and 517 permit days on the Beaverhead River, combining for over 1,100 permitted days on two of Montana’s most celebrated blue-ribbon trout fisheries. Additionally, the operation holds 93 permit days on Rock Creek, including permitted float days through the end of June, as well as U.S. Forest Service permits for the upper Bitterroot River, providing exceptional geographic reach and seasonal flexibility across some of western Montana’s finest wild trout water.
The Big Hole River is the Complete Fly Fisher’s home water, an undammed and untamed fishery with a reputation that draws anglers from around the world. Hatches are abundant throughout the season, from massive salmonfly emergences to late summer trico blizzards, while streamer fishing provides an exceptional opportunity to encounter the river’s famously large brown trout. Whether floating the river by drift boat or wading the boulder-strewn stretches, the Big Hole delivers a world-class experience at every turn.
www.fayranches.com | 800.238.8616 | info@fayranches.com
Located less than an hour from the lodge, the Beaverhead River is a willow-lined tailwater fishery resembling a large spring creek, boasting more than 3,000 trout per mile. Access to both the Beaverhead and the Big Hole is limited to permitted outfitters, ensuring an uncrowded and exceptional angling experience for every guest.
Formed by the confluence of the Ruby, Beaverhead, and Big Hole Rivers, the Jefferson River is a haven for anglers seeking some of the largest trout found in Montana, targeted with dry flies, streamers, and the famed Girdle Bug. Floating through the scenic Tobacco Root Valley is an experience in itself, and the Jefferson consistently produces some of the largest trout caught by Complete Fly Fisher guests each season.
Although the Missouri River is a two-hour drive from the lodge, guests never seem to mind the journey once they are on the water of one of the most productive trout fisheries in the country. Fish counts ranging from 4,000 to over 8,000 trout per mile tell only part of the story, as this cold, clear tailwater is loaded with brown and rainbow trout in the 18 to 22 inch range and hosts legendary hatches of blue-winged olives, pale morning duns, caddis, and trico spinners throughout the season. A day on the Missouri is considered a must for any angler visiting Montana.
Rock Creek is an absolute jewel among Montana’s trout streams, flowing fast and clear over a granite substrate through a classic mountain setting as it drains the Anaconda Wilderness on its way to the Clark Fork. Each spring, prolific salmonfly and golden stonefly hatches draw aggressive native cutthroats, bull trout, wild rainbows, and browns to the surface, offering some of the most exciting dry fly fishing in the region. Floating is permitted on a limited basis from mid-May through June under a special permit authorized by the Lolo National Forest.
Located just over an hour from the lodge at lower elevations, the Bitterroot and Clark Fork Rivers are exceptional early season fisheries that thaw each spring to offer superb dry fly fishing beginning in late March. The arrival of skwala stoneflies signals the start of the season, drawing hungry trout to the surface after a long winter, with bugs ranging from size 6 to 14. Throughout the season, both rivers continue to produce productive dry fly fishing for large cutthroat, brown, and rainbow trout, making them a valuable addition to the Complete Fly Fisher’s already impressive roster of waters.
Ideally located on one of the finest sections of the Big Hole River, the Complete Fly Fisher is a true Montana legacy lodge that has welcomed anglers and guests from around the world for nearly six decades. Originally established in 1968, the property has grown into one of the most celebrated fly fishing destinations in the American West, earning a devoted global following and a reputation for exceptional hospitality. All improvements have received continual updates over the years, ensuring that every guest enjoys a modern, refined experience without losing the authentic Montana charm that has defined the Complete Fly Fisher since its founding.
The Frank Lloyd Wright-inspired main lodge offers three beautifully appointed guest suites, just steps from the river. Each suite features a private bathroom with a newly renovated shower, comfortable furnishings, and direct access to the riverfront deck overlooking the Big Hole River. The Lodge Suite West is the most spacious of the three, featuring a separate sitting room and private bathroom, while the Riverside Lodge Suite offers a brand-new king bed conveniently close to the lodge kitchen. The Lodge Suite East is a generously appointed room with a queen bed, a writing desk, and a private view of the Big Hole River. All rooms have received ongoing updates, ensuring guests enjoy a hotel-quality experience in the heart of the Montana wilderness.
The property offers six newly renovated private cabins nestled in the meadow just steps from the fly shop, lodge, and the banks of the Big Hole River, offering the perfect balance of seclusion and comfort. Cabin 1 features two queen beds and an accessible layout, while Cabins 2 through 5 are single-bedroom retreats, each configurable with a king bed or two twins, comfortably accommodating two. Cabin 6 is the most expansive option, featuring two bedrooms, each with a king bed, a full kitchen, and a sitting area, ideal for up to four guests. Each cabin has been renovated, featuring new stone and tile showers and doublesink vanities.
The property offers six newly renovated private cabins nestled in the meadow just steps from the fly shop, lodge, and the banks of the Big Hole River, offering the perfect balance of seclusion and comfort. Cabin 1 features two queen beds and an accessible layout, while Cabins 2 through 5 are single-bedroom retreats, each configurable with a king bed or two twins, comfortably accommodating two. Cabin 6 is the most expansive option, featuring two bedrooms, each with a king bed, a full kitchen, and a sitting area, ideal for up to four guests. Each cabin has been renovated, featuring new stone and tile showers and doublesink vanities.
17 Complete Fly Fisher | Wise River, Montana
The Complete Fly Fisher’s shop is where every day on the water begins, stocked floor to ceiling with flies carefully curated and hand-tied by the guides. From dry flies to streamers and everything in between, the shop carries an extensive selection of top-shelf rods, reels, waders, and gear. A spacious locker room keeps waders and boots dry and ready for the next day’s adventure. There is also a full selection of clothing, hats, sunglasses, and accessories available.
The lodge features a fully operating commercial kitchen designed to deliver an elite culinary experience. The lodge hosts a large communal table in the River Room, located just steps from the banks of the Big Hole River.
Complete Fly Fisher | Wise River, Montana
Beyond world-class fly fishing, the Wise River area offers an exceptional range of outdoor recreation for every season and interest. The Anaconda-Pintler Wilderness and Pioneer Mountains provide a stunning backdrop for hiking, backpacking, and wildlife viewing, with elk, pronghorn, river otters, and bald eagles frequently spotted throughout the valley. The 40-mile Pioneer Mountains Scenic Byway winds through breathtaking backcountry terrain, offering access to ghost towns, crystal digging sites, and countless trailheads along the way. In the winter months, the region transforms into a playground for snowmobiling and cross-country skiing, while fall brings world-class elk, deer, and bear hunting to the surrounding Beaverhead-Deerlodge National Forest. Whether visiting in summer or winter, the Complete Fly Fisher sits at the center of one of Montana’s most diverse and spectacular outdoor destinations.
Wise River is a small, tight-knit community nestled in the heart of the Big Hole Valley, sitting at the confluence of the Wise River and the Big Hole River in Beaverhead County. Despite its remote setting, the town offers a handful of essential amenities, including a general store, a local tavern, and a post office, giving visitors just enough of the necessities while preserving the quiet, off-the-grid character that makes the area so appealing. The surrounding landscape is defined by sweeping mountain meadows, the Pintler Wilderness, and the iconic Big Hole River, making Wise River a true gateway to some of the most pristine fly fishing and outdoor recreation in all of Montana.
Bert Mooney Airport, Butte, Montana, (BTM) is the closest commercial airport, approximately 45± minutes from the lodge via I-15 North. The airport offers direct flights to Salt Lake City, with car rentals available through Hertz, Budget, Avis, and Enterprise.
Bozeman Yellowstone International Airport (BZN) is the largest and busiest regional airport, roughly 2 hours from the property. It is served by multiple major airlines, including Alaska, Delta, United, American, and Allegiant, with connections across the country.
Missoula Montana Airport (MSO) is another option, approximately 2 hours northwest of the property, also served by several major carriers.
All mineral rights appurtenant to the property and owned by the seller will convey to the buyer at closing. Mineral rights are not guaranteed. It is suggested that the buyer conduct a mineral search with a title company.
Each of us at Fay Ranches loves the land and wants to see it remain a productive agricultural ground and a quality fish and wildlife habitat. Through promoting thoughtful land stewardship, Fay Ranches has guided owners toward a legacy of conserving wide-open spaces, enhancing and creating fisheries and wildlife habitats, and implementing sustainable agricultural operations. Fay Ranches is proud to say that since our company began in 1992, our clients’ conservation ethics and land-use practices have significantly enhanced our work landscape.
28 www.fayranches.com | 800.238.8616 | info@fayranches.com
Montana waters, in all their varied forms and locations, belong to the State for the benefit of its people. A water right is the right to use the water within state-established guidelines, and not any ownership of the water itself. Since water rights in Montana are guided by the prior appropriation doctrine, a person’s right to use a specific quantity of water depends on when the use of water began, establishing the relative priority date of use on the water source. The first person to use water from a source established the first right, the second person could establish a right to the water that was left, and so on. Additionally, water users are limited to the amount of water that can be beneficially used. Beneficial use includes, but is not limited to, agricultural, recreational, fish, wildlife and domestic purposes.
Montana is currently conducting a statewide adjudication of all water rights with priority dates prior to July 1, 1973. The statewide adjudication is a court process that prioritizes and quantifies all existing water rights in each Montana drainage basin. With 85 basins in Montana, and over 219,000 water right claims, the statewide adjudication is a massive undertaking that is expected to stretch well into the future. Until the adjudication process is complete, the status of any particular water right claim cannot be guaranteed. Fay Ranches, Inc., its brokers and salespersons do not warrant or make any representation concerning the quantity or quality of any water rights, nor any legal entitlement to use of water rights, permits to appropriate water, exempt existing rights, determination of existing water rights, nor any ditches, ditch rights, or ditch easements appurtenant to or constituting a burden on the property. Water rights claims appurtenant to the property may or may not have been fully or finally adjudicated, and any Buyer is advised to make any offer to purchase contingent upon and subject to such independent inspections, evaluations, and advice concerning the water rights and adjudication process as a Buyer might deem prudent. All Buyers should be aware that Fay Ranches, Inc., its brokers and salespersons involved in this offering have not conducted an expert inspection or analysis of the water rights for this property.
29 Complete Fly Fisher | Wise River, Montana
The owners have built an exceptional repeat and referral clientele over decades, including families who have returned for three generations. Framed by classic Big Hole Valley scenery, the property is supported by a well-maintained facility and experienced staff delivering a seamless, high-touch experience for anglers of all ages and ability levels. The owners are now seeking a buyer to steward the next chapter of this long-established Montana lodge.
The Complete Fly Fisher is a rare opportunity to acquire premium Big Hole River frontage paired with a proven operating profile spanning nearly six decades. The offering includes an established global clientele, five-star reviews, and an irreplaceable location on one of the most celebrated trout rivers in the American West, with the flexibility to continue a turnkey hospitality operation or reposition the improvements into a private riverfront compound.
$8,500,000 Cash
Conventional Financing 1031 Exchange
Please contact Ryan Bramlette at (406) 580-9569 | rbramlette@ fayranches.com or Dan Mahoney at (406) 360-7373 | dmahoney@ fayranches.com to schedule a showing. This is an exclusive listing. An agent from Fay Ranches, Inc. must be present at all showings, unless otherwise noted or other arrangements are made. To view other properties we have listed, please visit our web page at www. fayranches.com.
Offer is subject to errors, omissions, prior sale, change or withdrawal without notice, and approval of purchase by owner. Information regarding land classification, carrying capacities, maps, etc., is intended only as a general guideline and has been provided by the owners and other sources deemed reliable, but the accuracy cannot be guaranteed. Prospective purchasers are encouraged to research the information to their own satisfaction.
As required by Montana law, a broker or salesperson shall disclose the existence and nature of relevant agency or other relationships to the parties to a real estate transaction. The various relationships and description of duties are as follows:
A “Seller Agent” is obligated to the Seller to:
Act solely in the best interests of the seller; Obey promptly and efficiently all lawful instructions of the seller; Disclose all relevant and material information that concerns the real estate transaction and that is known to the seller agent and not known or discoverable by the seller unless the information is subject to confidentiality arising from a prior or existing agency relationship on the part of the seller agent; Safeguard the seller’s confidences; Exercise reasonable care, skill, and diligence in pursuing the seller’s objectives and in complying with the terms established in the listing agreement; Fully account to the seller for any funds or property of the seller that comes into the seller agent’s possession; and Comply with all applicable federal and state laws, rules, and regulations. Montana law permits a real estate agent, after providing written disclosure to a seller and obtaining a seller’s written consent, to represent multiple sellers of property and to list properties for sale that may compete with the seller’s property, without breaching any obligation to the seller.
A “Seller Agent” is obligated to the Buyer to:
Disclose to a buyer or the buyer agent any adverse material facts that concern the property and that are known to the seller agent, except that the seller agent is not required to inspect the property or verify any statements made by the seller; Disclose to a buyer or the buyer agent when the seller agent has no personal knowledge of the veracity of information regarding adverse material facts that concern the property; Act in good faith with a buyer and a buyer agent; and Comply with all applicable federal and state laws, rules, and regulations.
(cont)
A “Buyer Agent” is obligated to the Seller to:
Disclose any adverse material facts that are known to the buyer agent and that concern the ability of the buyer to perform on any purchase offer; Disclose to the seller or the seller agent when the buyer agent has no personal knowledge of the veracity of information regarding adverse material facts that concern the property; Act in good faith with a seller and a seller agent; and Comply with all applicable federal and state laws, rules and regulations.
3. DUAL AGENCY If a seller agent is also representing a buyer, or a buyer agent is also representing a seller with regard to a property, then a dual agency relationship may be established. In a dual agency relationship, the dual agent is equally obligated to both the seller and the buyer. These obligations may prohibit the dual agent from advocating exclusively on behalf of the seller or buyer and may limit the depth and degree of representation that you receive. A broker or a salesperson may not act as a dual agent without the signed, written consent of both the seller and the buyer.
A “Dual Agent” is obligated to a Seller in the same manner as a seller agent and is obligated to a Buyer in the same manner as a buyer
agent, except a dual agent:
Has a duty to disclose to a buyer or seller any adverse material facts that are known to the dual agent regardless of any confidentiality considerations; and May not disclose the following information without the written consent of the person to whom the information is confidential; The fact that the buyer is willing to pay more than the offered purchase price; The fact that the seller is willing to accept less than the purchase price that the seller is asking for the property; Factors motivating either party to buy or sell; and Any information that a party indicates in writing to the dual agent is to be kept confidential.
4. STATUTORY BROKER
A “Statutory Broker” is not the agent of the Buyer or Seller but nevertheless is obligated to them to:
Disclose to: i. a buyer or buyer agent any adverse material facts that concern the property and that are known to the statutory broker, except that the statutory broker is not required to inspect the property or verify any statements made by the seller; and ii. a seller or a seller agent any adverse material facts that are known to the statutory broker and that concern the ability of the buyer to perform on any purchase offer; Exercise reasonable care, skill, and diligence in putting together a real estate transaction, and Comply with all applicable federal and state laws, rules and regulations.
5. IN-HOUSE SELLER AGENT DESIGNATE
Created when the agency holds both the listing on a property from the seller and a buyer broker agreement with the buyer, an in-house seller agent designate is a broker or salesperson employed by or associated as an independent contractor with a broker and designated by the broker as the exclusive agent for a seller for a designated transaction and who may not be considered to be acting for other than the seller with respect to the designated transaction.
6. IN-HOUSE BUYER AGENT DESIGNATE
Created when the agency holds both the listing on a property from the seller and a buyer broker agreement with the buyer, an in-house buyer agent designate is a broker or salesperson employed by or associated as an independent contractor with a broker and designated by the broker as the exclusive agent for a buyer for a designated transaction and who may not be considered to be acting for other than the buyer with respect to the designated transaction.
BUYER AGENT
A “Buyer Agent” is obligated to the Buyer to: Act solely in the best interests of the buyer; Obey promptly and efficiently all lawful instructions of the buyer; Disclose all relevant and material information that concerns the real estate transaction and that is known to the buyer agent and not known or discoverable by the buyer, unless the information is subject to confidentiality arising from a prior or existing agency relationship on the part of the buyer agent; Safeguard the buyer’s confidences; Exercise reasonable care, skill, and diligence in pursuing the buyer’s objectives and in complying with the terms established in the listing agreement; Fully account to the buyer for any funds or property of the buyer that comes into the buyer agent’s possession; and Comply with all applicable federal and state laws, rules and regulations.
Montana law permits a real estate agent, after providing written disclosure to a buyer and obtaining a buyer’s written consent, to represent multiple buyers interested in buying the same property or similar properties to properties in which a buyer is interested and to show properties in which a buyer is interested to other prospective buyers, without breaching any obligation to the buyer.
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