The Gates Ranch is a rare 744±-acre legacy hunting and cattle ranch set on a high mesa above the Colorado River, offered for the first time after five generations of family ownership. Located about an hour from Vail and 1.5 hours from Steamboat Springs, the ranch combines trophy-level recreation, productive hay ground, senior water rights, and authentic Western character. Approximately 340 acres are irrigated and historically produce around 250 tons of hay annually, supporting a year-round cattle operation of roughly 100 head. Improvements include a modest main log home of 1,158 square feet with 3 bedrooms and 1 bath, and additionally a charming and historic 3,039 sq ft log bunkhouse with 6 bedrooms and 2 baths that sleeps up to 12, plus multiple outbuildings, corrals, and two newer metal shops. Everything is functional and built for real ranch use. Water resources are exceptional, highlighted by a senior 15 CFS decree off Derby Creek delivered through the Rogers and South Derby ditches, several adjudicated springs, and a high-producing domestic well serving both homes. A spring-fed 3-acre trout lake sits on the north side of the property and is deep enough to overwinter fish, offering excellent brown and rainbow trout fishing. Derby Canyon borders the ranch to the north with rimrock walls, lush habitat, and a free-flowing trout stream, creating prime conditions for elk, mule deer, black bear, and Merriam’s turkey hunting in GMU 25. The ranch typically receives 2–3 mule deer landowner tags annually and has a long history of successful outfitting for elk, with over-the-counter opportunities for second and third rifle seasons and easy draws for archery, muzzleloader, and first and fourth rifle seasons. National Forest and the Flattops Wilderness Area are only about a mile up the road, offering high-alpine adventure with horseback riding, hiking, fishing, wildlife viewing, and backcountry exploration. With its combination of irrigated meadows, canyon terrain, senior water rights, historic improvements, and exceptional recreational attributes between two world-class mountain towns, the Gates Ranch stands as one of the most compelling ranch offerings in the central Colorado Rockies.