The Peters Lake Ranch is located west of Dexter, New Mexico off Honolulu Road only a few miles south of Roswell. The property is composed of 3,388.90 deeded acres. Associated with the property is 200 acres of BLM leased land (Peters Lake #64169), and has 80 acres of New Mexico State leased land (GS-2385). There is some uncontrolled land located within the perimeter fences of the property.The Peters Lake Ranch mostly flat open pasture, with some undulating hills located throughout. The subject is composed of three pastures and a trap, with two livestock water troughs which are supplied by two livestock wells. The property does have large amounts of dirt embankments, which were created years ago to help curb flooding in the town of Dexter by storing and redirecting water flow. These embankments add water storage to the property, as well as help with pasture growth. The property is located in a mixed area with some development, however, the highest and best use of the property at this point would be to remain as a livestock grazing operation. However, small ranchettes have become increasingly popular nearby and provide a realistic exit strategy for this ranching operation. Additionally, there are hunting opportunities in the form of pronghorn antelope, mule deer, dove and blue quail. So If you are in the market for an effectively all deeded ranch positioned close to town, with current agricultural opportunities, and a land bank styled investment, look no further. Peters Lake Ranch covers all of the bases!