By Meghan Hall
Large tracts of land in the Bay Area are hard to come by, as development in recent years has resulted in a building frenzy region-wide. However, just outside of San Jose, 5,400 acres has been posted for sale in a rare opportunity to acquire a large chunk of property within close proximity of major population centers. Called Citadel Valley Ranch, the property totals 5,400 acres. According to an offering memorandum obtained by The Registry, guidance pricing for the land sits at $25 million.
“For centuries, very little has interrupted this example of nature’s innate beauty-the spectacular Citadel Ranch, the offering memorandum states. “Outside of the area’s original founders, few individuals have been privileged enough to view this fertile ranch over the past 30 years…This is a rare opportunity to own one of California’s most spectacular ranches.”
The property has been listed for sale on behalf of Citadel Ranch Inc. by Oxbridge International Company, which specializes in commercial real estate and land development. As of this writing, the firm had not yet returned The Registry’s request for comment.
The ranch still offers insight into early Bay Area settlement; evidence of some of the earliest settlers to arrive in the Bay Area remain, and the property was once home to 400 cattle. The land includes five ponds and lakes, as well as several mountain ridges that reach 3,200 feet in elevation. Oak woodlands, sycamore valleys, streams and wildlife all occupy the land.
When sold, the property can be used in a number of ways. New ownership can maintain cattle on the land, as was historically done. However, the opportunity to install a solar farm or even submit plans to build a subdivision of homes are possible.
However, perhaps the most important merit of the property, aside from its size, is the location. The ranch is located about 10 miles from San Jose and about 15 miles to Santa Clara–both are major population centers and sit at the heart of Silicon Valley. More than 800,000 residents with a median household income of about $90,000 live within 15 miles of the area.
Other large tracts of land have been listed for sale in recent years. At the beginning of 2020, Apple co-founder Mike Markkula placed his 14,000-acre ranch in Carmel Valley, Calif., up for sale for a third time. Known as Rana Creek Ranch, the property hit the market priced at $37.5 million. The ranch is the largest holding in Carmel Valley.