Madison Valley Farm | Fay Ranches

MADISON VALLEY FARM

Three Forks, Gallatin, Montana

$4,790,000

602.5± Acres

INTRODUCTION

Madison Valley Farm spans 1,082.5 ± total acres, out of which 602.5± are deeded, near the Madison River in the lower Madison Valley, recognized as the least developed river valley within a 30-minute drive of Bozeman. The ranch offers sweeping views of the Madison Range and Tobacco Root Mountains to the south, the rugged cliffs of the Madison River to the west, and the Bridger Mountains rising in the distance to the east. With 230± acres of sprinkler-irrigated acres, the property supports both productive agriculture and abundant wildlife. Ideally situated, the ranch is under 19± miles from Three Forks, just 31± miles from Bozeman, and equally close to Bozeman Yellowstone International Airport, Montana’s busiest travel hub. The ranch is conveniently close to amenities but far enough away to enjoy privacy.

QUICK FACTS

• 602.5± deeded acres

• 480± acres Montana State lease

• Two irrigation pivots-the south pivot covering approximately 120± acres and the north pivot about 110± acres

• The Madison Valley Farm supports extraordinary biodiversity, attracting elk, mule deer, whitetail deer, and upland birds. Waterfowl trace the waterways and dine in the lush agricultural acreage

• A modest 3-bedroom 2-bathroom modular ranch manager’s home

• Older outbuildings, including a barn, metal garage, older cabin, and spray-foamed Quonset Hut for storage with infrared heaters

• Dramatic views of the Spanish Peaks Mountain Range, high limestone cliffs of the Madison Range and river, and the tip of the peaks of the Tobacco Root Mountain Range

• 19± miles from Three Forks, Montana

• 31± miles from Bozeman, Montana

• Madison Valley Farm spans 1,082.5 ± total acres, out of which 602.5± are deeded

ACREAGE

Madison Valley Farm lies just a quarter mile from the 547± acre state-owned Greycliff Fishing/ Hunting Access Site on the Madison River, encompassing two parcels across 4,300–4,600 feet of elevation. To the west, two pivots irrigate roughly 230± acres, historically producing alfalfa, grass hay, wheat, and sainfoin. A unique feature of the ranch is that it spans from the mountain foothills along the east side of the valley across the productive valley floor almost to the Madison River on the west side. The lower Madison Valley’s mild winters and minimal snowpack make the property especially well-suited for raising cattle, crops, and horses. Improvements are set between the pivots and Sloan Ditch. To the east, the property transitions into mostly dryland, with the potential to farm a couple of hundred acres and corners a 480± acre block of state land leased by the Madison Valley Farm.

IMPROVEMENTS

Modest Improvements on the ranch include a 27-year-old modular ranch manager’s 3-bedroom, 2-bath home with a detached metal garage, barn, insulated Quonset hut, and a rustic cabin. The cabin is plumbed to the new well drilled and could be improved.

AGRICULTURAL OPERATIONS

Two pivot systems irrigate roughly 230± acres, historically utilized for alfalfa, grass hay, sainfoin, and wheat. Backed by dependable water rights, the land is well-positioned for consistent agricultural output. 9

LOCATION

THREE FORKS

The historic community of Three Forks is just 19± miles from the property. With a population of about 2,000 residents, the town offers an impressive selection of amenities for its size. The iconic Sacajawea Hotel, dating to 1910, provides fine dining and boutique lodging, while the Headwaters Public Golf Course welcomes players to its scenic 9-hole layout. Additional conveniences include medical services, a private airport, grocery shopping, a library, coffee shops, a museum, a florist, a tackle shop, and a variety of restaurants and gathering spots.

BOZEMAN

The property is a 40± minute drive from the vibrant university town of Bozeman (population 58,000+), home to Montana State University and the Museum of the Rockies. Bozeman has received national accolades for its scenic location, endless outdoor activities, and historic downtown. Bozeman restaurants and shops have become favorite places for those who love nature—whether fishing, hunting, skiing, mountain biking, or hiking.

AIRPORT SERVICES

Bozeman-Yellowstone International Airport serves as the premier gateway to southwest Montana and lies just 40± minutes from the property. The airport is serviced by a wide range of major carriers including Delta, United, American, Alaska, Allegiant, Avelo, Frontier, Jet Blue, Southwest, and Sun Country, ensuring seamless travel year-round. In addition, the airport accommodates private and corporate aircraft, offering hangar space, fueling, and full-service amenities.

RECREATION FISHING

The Madison River, minutes from the ranch, originates in Yellowstone National Park at the confluence of the Gibbon and Firehole Rivers and is known as the greatest wild trout fishery in the U.S. The unmatched insect hatches make for some of the best dry fly fishing in the country. Hatches include caddis, salmon flies, a variety of mayflies, and, of course, grasshoppers in the late summer and early fall months. The Madison River supports rainbow, brown, and cutthroat trout, native whitefish, and arctic grayling. Madison Valley Farm is just minutes from the 547± acre state-owned Greycliff Fishing Access Site on the Madison River. This stretch of river provides deep, slow pools intertwined with braided side channels and islands, creating an exceptional fishery. The diverse habitat forms a wade angler’s paradise, rich with large brown and rainbow trout—some reaching the 6 to 8-pound class. Each fall, mature browns can be observed spawning in the gravel-lined channels, followed in spring by hefty rainbows. Few locations can rival the variety and quality of angling found here.

The Gallatin, Yellowstone, Jefferson, and upper portions of the Madison River are within 15 to 60 minutes and are some of the world’s most famous fly-fishing rivers. These rivers are known for their dry fly fishing. Throw in some of the best streamer fishing in the State, as well as excellent nymph fishing, and you’ve got a variety of rivers that can provide a lifetime of entertainment. There are fish in these rivers that can exceed 24± inches. Other world-class fishing rivers within 1 to 1.5 hours from the property are the Ruby, Big Hole, Missouri, and Beaverhead Rivers. Several world-class “fee” spring creek fisheries are also close. About 60 miles over the hill in Paradise Valley, the Yellowstone River and Depuy, Armstrong, and Nelson spring creeks attract anglers. Several tributaries, spring creeks, and mountain lakes in the area will also become known to you. A 2± hour’s drive will put you into the Henry’s Fork watershed in Idaho or the center of Yellowstone National Park. The Park is where many of these famous rivers originate. Its nutrientrich waters are why the greater Yellowstone region is one of the best areas in North America for catching trophy trout. The vastness of this area can occupy an angler for a lifetime.

HUNTING & WILDLIFE

Because of all the fabulous water amenities and lack of development, wildlife thrives in the lower Madison Valley. For the waterfowl hunter, hunting opportunities exist on the ranch and on the Madison River as the ranch is just a half mile from the 547± acre state-owned Greycliff fishing and hunting access site on the Madison River. The Madison River supports local varieties of nesting waterfowl. Elk, whitetail, and mule deer tend to congregate along the river bottom during the day and head into the valley and on the ranch in the afternoons to feed on native grasses and the agricultural fields. Upland bird populations are also prevalent on the ranch and in the valley due to the agricultural operations in the area and ample amounts of water, cover, and food plots. Hungarian partridge and pheasants are common. The property provides excellent wildlife viewing in general. With thriving populations of raptors, including golden eagles, bald eagles, and osprey along the Madison River cliffs, this property offers a true sportsman’s paradise within Hunt District 311.

SKIING & SNOWBOARDING

Big Sky Resort, the One and Only, the Montage, the Yellowstone Club, and Spanish Peaks Mountain Club are located a little over an hour from the property and boast world-class snowboarding and skiing options. Bridger Bowl Ski Area is also about an hour away and offers a more local atmosphere.

Montana

MINERAL RIGHTS

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.

CONSERVATION | STEWARDSHIP

This property is not under a conservation easement. Each of us at Fay 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 has guided owners toward a legacy of conserving wide-open spaces, enhancing and creating fisheries and wildlife habitats, and implementing sustainable agricultural operations. Fay 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. 16

www.fayranches.com | 800.238.8616 | info@fayranches.com

WATER RIGHTS

The Madison Valley Farm includes an abundance of water rights. 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.

17 Madison Valley Farm | Bozeman, Montana

SUMMARY

Standing among ancient Native American buffalo jumps in one of Montana’s most historic and iconic settings, the Madison Valley Farm dramatically frames the distant Spanish Peaks while quietly perched near the world-famous Madison River. The banks of the Madison River are lined with large, mature cottonwood trees that give way to open meadows of native grasses. The river braids offer abundant wetland habitat, which attracts a wealth of waterfowl in the valley and other wildlife that congregate on the property, including Elk. The views are dramatic and equally diverse, including the Spanish peaks to the south, the tobacco root mountains, the cliffs and bluffs along the Madison river to the west, including the Madison Buffalo Jump State Park to the east.

www.fayranches.com | 800.238.8616 | info@fayranches.com

Please contact Branif Scott at (406) 579-9599 | bscott@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.

$4,790,000 Cash

Conventional Financing 1031 Exchange

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.

RELATIONSHIPS IN REAL ESTATE

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:

1. SELLER AGENT

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.

2. BUYER AGENT (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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