Lost Heart Ranch | Dawn Myrvik

Overview

Located on the north shore of Ennis Lake in McAllister, Montana, this legacy property presents a rare opportunity to acquire just over 2,700± acres in one of Montana’s most desirable valleys. The offering combines lake frontage, agricultural production, equestrian infrastructure, development potential, and a fully operational commercial component.

With panoramic views in every direction—Lone Peak to the east, the Centennial Mountains to the south, and the rugged Tobacco Root Mountains to the west—the property features diverse topography including dryland pasture, riparian corridors, and juniper-covered hillsides down to 1,400± feet of Ennis Lake frontage.

Comprising three primary components—Lost Heart Ranch, Lake Shore Equestrian Estate, and Lake Shore Lodge—this property supports year-round ranching, recreation, and income generation, all just minutes from Ennis and under an hour to Bozeman.

Lost Heart Ranch (2,681.74± Acres)

A working ranch with residential, livestock, and infrastructure elements in place, Lost Heart Ranch anchors the entire offering. It is subdivided into 45 legal parcels, offering potential for development, conservation, or generational use.

Key Features:

2,500± SF 4BD/3BA main residence (1994)
2,400± SF equipment shop with attached 2BD/1BA residence (2004)
3,100± SF livestock barn
Property includes 45 legal parcels: nineteen 20-acre lots, one 15-acre lot, one 5-acre lot, plus 24 additional legal tracts.
1,400± feet of lake frontage
Spring-fed water, stock water rights, and varied terrain
Currently runs approximately 120 AUM
Suitable for grazing, residential development, or conservation easement
Exceptional views in all directions
Wildlife includes deer, antelope, and elk

Lost Heart Hayfield (115± Acres)

Also known as Twin Knob Hayfield

Situated west of Highway 287, this irrigated tract consists of three separate legal descriptions and supports productive hay ground or potential homesites.

Key Features:

115± total acres across 3 parcels
Approximately 55± acres under pivot irrigation
Strong potential for hay production or seasonal grazing
Expansive views of surrounding mountain ranges
Easy access and usable topography for agricultural or residential use

Lake Shore Equestrian Estate (23.18± Acres)

A rare, turnkey equestrian facility located on the lake, this component of the offering includes a fully developed luxury home and full horse infrastructure.

Key Features:

6,344± SF main residence (4BD/4BA + 1,080± SF basement)
Private indoor pool and fenced yard with mature landscaping
2,520± SF barn, horse sheds, round corral, and cross fencing
Prime location at the water’s edge with mountain views
Designed for high-functioning equestrian operations with private amenities

Lake Shore Lodge (20.24± Acres)

The commercial asset of this property, Lake Shore Lodge offers a strong base for hospitality, storage, and lakefront access with expansion potential.

Key Features:

42 full-service RV sites (50 amp)
Office/store, bathhouse with laundry
4 nicely appointed cabins plus, 3 dry cabins
Room for employee housing
24-unit mini storage facility
Marina with 10 docks and seawall
2 drain fields and 7 holding tanks with room for expansion
Excellent potential for income generation or private estate repurposing

Area Details & Recreation

Ennis Big Sky Airport (KEKS): 6,600-ft paved runway for private and charter flights. Bozeman Yellowstone International Airport is just 55 miles (~1 hour).
From Ennis, you’re about 60 miles (~1 hr 15 min) to Big Sky Resort and 72 miles (~1 hr 20 min) to Yellowstone National Park’s west entrance.
The Madison River is celebrated worldwide for its blue-ribbon fly fishing, with nearby Ennis Lake, Hebgen Lake, and the turquoise Cliff & Wade Lakes adding even more water recreation.
The Madison Valley is ringed by more than 3 million acres of public lands, offering endless trails, wildlife, and wide-open country to explore.
The town of Ennis blends small-town western charm with modern amenities—restaurants, shops, schools, and services—while being only an hour from Bozeman.

Conservation and Development

Property is not currently under easement. Consists of 19 twenty acre lots plus 26 additional platted legal descriptions

Water Rights

All water rights owned by seller to convey with ranch at closing.

Mineral Rights

All mineral rights owned by Seller to convey to Buyer at closing.

Summary

With a balance of productive land, residential infrastructure, lakefront access, and commercial opportunity, Lost Heart Ranch & Lake Shore Lodge is a rare find in the Montana market. Whether your vision is generational ranch ownership, land conservation, investment, or a multi-faceted estate, this property offers the scale and flexibility to match.

Additional Highlights

Topography: Rolling foothill pastures, riparian areas, and upland wildlife habitat
Wildlife: Mule deer, elk, antelope, and upland birds
Views: Madison Range, Ennis Lake, Centennial Mountains, and Tobacco Roots
Access:

Less than 1 hour to Bozeman
Minutes to Ennis and Big Sky Airport (7,600’ paved runway with FBO services)

Summary

With a balance of productive land, residential infrastructure, lakefront access, and commercial opportunity, Lost Heart Ranch & Lake Shore Lodge is a rare find in the Montana market. Whether your vision is generational ranch ownership, land conservation, investment, or a multi-faceted estate, this property offers the scale and flexibility to match.