Give us a call 970-872-3322
Give us a call 970-872-3322
Ask Gary Hubbell
Kebler Corner is not a stabilized cash-flow purchase, and it is not being marketed as one. It is a completed, permitted, operating retreat campus in one of the most restrictive development corridors in Colorado, offered at a price that reflects what has been built rather than what has yet been earned.
The current ownership acquired the property after years of dormancy, when it was neither operating nor being marketed as an RV resort. They then spent several years rebuilding it: infrastructure, water systems, cabins, sites, utilities, and permitting. That work is finished. The resort reached full-scale operation only recently, and a deliberate marketing program is just now beginning. The 8,637-square-foot River House lodge, the single highest-value revenue asset on the campus, has never been rented at all.
For a buyer underwriting to an 8.5% cap on trailing revenue, the numbers will not clear. For a buyer who understands that the hard part of this business is entitlement, water, and construction, the numbers are the reason to look.
Everything that takes five years and unpredictable approvals to create already exists here. What remains is operations and demand generation, which is the part a capable operator controls.
New campground and lodging entitlement in the Highway 133 corridor is difficult to obtain and, in many cases, no longer available. Kebler Corner carries the permits, the adjudicated water rights, the approved commercial water treatment system, the wastewater capacity, the power service, the road access, and the built improvements that a ground-up competitor would need to secure before pouring a single foundation.
Replacement cost analysis on the improvements alone, before assigning any value to 173 deeded acres, the water rights, the creek frontage, or the entitlement position, supports a figure that a buyer would struggle to match at the $8,250,000 asking price.
Key barriers to entry that convey with the sale:
The Campus
Combined, the two parcels provide a residential and hospitality campus with meaningful group sleeping capacity, distinct private and communal zones, and a natural separation between guest lodging and executive or leadership accommodation. That separation is exactly what retreat, offsite, and program-based operators require and rarely find on a single contiguous holding.
Corporate retreat and executive offsite operators. The River House functions as leadership housing and program space while the cabins and sites absorb the balance of a group. Fiber connectivity, paved highway access, and proximity to Aspen and Crested Butte make this workable for multi-day corporate programming without the logistical friction of a backcountry location.
Hospitality platforms and outdoor lodging brands. A built, permitted, brandable campus with existing site density and immediate expansion optionality across 171 acres. The infrastructure supports glamping, cabin, and RV formats simultaneously under one operating license structure.
Wellness, creative residency, and program-based retreat operators. Cohort-sized capacity, private water, protected viewsheds on three sides, on-site retail, and defensible seasonality supported by winter recreation access.
Institutional and family office buyers. A hard-asset acquisition with real water rights, irreplaceable location, and an income curve that sits ahead of the closing rather than behind it. Basis is supported by replacement cost; upside is a function of operating execution and the activation of a lodge that currently produces nothing.
Outfitter, guide, and adventure-base operators. The property sits on the boundary of GMU 53 and GMU 521, both long known for elk, mule deer, and bear. The former World Record Elk was taken in Dark Canyon in 1899, a few miles up Anthracite Creek. Thousands of acres of surrounding public land support hunting, fishing, snowmobiling, and backcountry programming directly from the property.
Kebler Corner sits on the West Elk Scenic Loop off Colorado Highway 133, midway between Aspen and Crested Butte. Crested Butte is 31 miles over Kebler Pass, one of Colorado's most photographed drives. Aspen is roughly 90 minutes northeast. Marble, Redstone, Carbondale, and Glenwood Springs lie closer via McClure Pass. Paonia Reservoir, immediately upstream, offers boating and additional recreation.
Highway 133 is maintained year-round. Guests and staff reach the property on pavement in every season, which is the operating difference between a summer-only asset and a twelve-month business.
Fly fishing on-site. Boating, horseback riding, snowmobiling, skiing, hiking, mountain biking, rafting, kayaking, four-wheeling, and big game hunting within immediate reach. Wildlife on and around the property includes elk, mule deer, bear, turkey, and small game.
The two properties are held by the same ownership group and are offered as follows:
Offering | Price |
The River House on 146 acres | $4,500,000 |
Both properties as a single entity | $8,250,000 |
Ownership will sell the two properties together, or The River House separately. Kebler Corner will not be sold ahead of The River House. For the retreat, corporate, and institutional buyer, the combined offering is the only configuration that delivers the full campus, and it is the configuration this property was rebuilt to serve.
Detailed operating statements, permitting documentation, water right decrees, capital improvement records, and site plans are available to qualified buyers under confidentiality agreement.
Jon Adams, ALC, United Country | Mountain Ranch and Home, together with Gary Hubbell, ALC, and Jake Hubbell, ALC, United Country Colorado Brokers & Auctioneers, Hotchkiss, Colorado.
All three brokers hold the Accredited Land Consultant designation from the Realtors Land Institute. The group specializes in ranches, resorts, farms, orchards and vineyards, hunting land, mountain cabins, and luxury country estates
