180 County Road 166, Pagosa Springs, CO 81147

"The Piedra River Resort" Saddle up and step into the western lifestyle you’ve been dreaming about. Piedra River Resort is a rare chance to own a thriving mountain retreat and trail-riding business, perched right on the banks of the legendary Piedra River just outside Pagosa Springs, Colorado. This one-of-a-kind property features up to six updated rental cabins (two designed as duplexes for larger groups and families), a permitted horseback trail-riding business with more than 4,000 acres of National Forest access, three RV sites with room to add more, and a riverside setting that delivers some of the finest troutfishing you’ll ever experience. For over 50 years, guests have been coming here to ride, fish, and soak in the magic of the San Juan Mountains. Every cabin and the surrounding grounds have been carefully renovated within the last two years, blending modern comfort with rustic Colorado charm. Fully furnished and turnkey, they offer visitors that authentic mountain-cabin experience—just steps away from the river’s edge. The main house itself is a slice of cowboy living: warm, welcoming, and ready for evenings by the fire after a long day on the trail. Alongside the cabins, three RV sites provide added flexibility and income potential, with plenty of space on the property to expand further. With special use permits already in place, the trail-riding operation offers everything from quick two-hour adventures to full-day excursions through country so stunning it’ll stop you in your tracks—towering pines, open meadows, granite cliffs, and the Piedra River winding through it all. This is real backcountry Colorado, and folks come from all over the world to see it from horseback. Life here is as rich as the mountain soil. Horses saddled at dawn, guests heading out for a ride under endless blue skies. Afternoons filled with fishing along thePiedra—known for its clear waters, rocky pools, and hard-fighting trout. Evenings bring it all together: campfires under the stars, guitars and live music, and the simple joy of community in a place where time slows down. Just down the road lies the friendly town of Pagosa Springs, famous for its natural hot springs, western festivals, and small-town charm. Locals know it as a place where community comes first, and where you’re never far from adventure—Wolf Creek Ski Area, vast wilderness trails, and world-class hunting and fishing are all part of daily life here. Owning Piedra River Resort means more than running a business—it means joining a lifestyle that embodies the best of the Colorado West. And the wider playground is just as rich. To the west, Durango offers dining, shopping, and the historic Durango & Silverton Narrow Gauge Railroad. The town of Bayfield and nearby Vallecito Reservoir are favorite spots for boating, fishing, and summertime fun. In winter, world-class skiing and snowboarding at Purgatory Resort add another layer of four-season adventure, all within a scenic drive of your front gate. With its extensive recent upgrades, fully permitted trail operations, three income-producing RV sites with room for expansion, and strong history as a resort destination, Piedra River Resort is ready for its next chapter. Expand the cabins, grow the RV offerings, build out more trail adventures, or simply live the life that others only dream of. A true 1031exchange opportunity for those seeking a generational investment and a legacy property. Financials are available with a signed confidentiality agreement and proof of funds