Spanning contiguous land in both Montana and Wyoming, the Two State Ranch offers a rare opportunity to own one of the most unique recreational ranches in the region. 

Located in both Powder River County, Montana, and Campbell County, Wyoming, this ranch encompasses 5,788± total acres, 5,012± deeded acres, along with 640± acres of Montana State Lease and 136± acres of BLM lease. 

Location

Set between the Bighorn Mountains to the west and the Black Hills to the east, the ranch sits in a quiet and highly regarded part of the northern plains, not far from Sheridan, Gillette, Broadus, and Interstate 90. 

Access is straightforward by county road, and for those traveling from farther away, the ranch is a short drive from Northeast Wyoming Regional Airport. A 3,500± foot landing strip on the property adds another layer of convenience for private aviation. 

Improvements

The improvements on the Two State Ranch are extensive and well placed. 

A two-bedroom log owner’s residence and nearby one-bedroom log guest house sit on a prominent knob on the Wyoming side of the ranch. Both cabins feature full kitchens, stone fireplaces, large decks, and sweeping views over nearby food plots, timbered draws, and open country. 

Two additional modular homes provide space for a caretaker, guests, or extended family. The ranch also includes a 40 by 80 shop with power, water, wood heat, overhead doors, and office space. 

For horsemen, the 150 by 100 red iron indoor riding arena offers room for training, roping, warm-ups, or equipment storage. For the sportsman, the ranch includes its own insulated butcher shop with an adjacent walk-in freezer, rail system, and floor drain. 

Recreation

The hunting and wildlife component of the Two State Ranch is exceptional. 

With deeded land in both Montana and Wyoming, the landowner may have the opportunity to apply for landowner hunting privileges in both states, subject to applicable regulations. 

Elk, mule deer, whitetail deer, antelope, turkeys, and sharptail grouse all thrive on and around the ranch. Timbered draws, native grasses, riparian corridors, and 10 improved food plots provide the cover, water, and feed needed to attract and hold wildlife throughout the year. 

Elk in the 350 to 400 inch class and mule deer over 170 inches are known to frequent the area, creating legitimate trophy hunting potential year after year. 

Water

The ranch is also well watered, with seven powered and solar wells, multiple stock and wildlife water tanks, seasonal reservoirs, numerous springs, and the seasonal drainages of Three Bar Creek and the South Fork of Three Bar Creek. 

Although the Short Draw Fire impacted portions of the ranch in the fall of 2024, all improvements were preserved, and a strong amount of healthy timber remains. As the land recovers, fresh native grasses are emerging across the burn areas, creating new feed and strong habitat conditions for elk, deer, and other wildlife. 

With two-state ownership, extensive improvements, abundant water, established food plots, private aviation access, and outstanding recreational opportunity, the Two State Ranch is a truly rare offering along the Montana and Wyoming border. 

Offering

The Two State Ranch is offered at $10,900,000. 

Please contact Powers Land Brokerage for more information. 

Powers Land Brokerage – Working Ranches Since the 1880s