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The Flying Horseshoe Ranch is located in Albany County about two miles southeast of the town of Centennial. The ranch complex includes fifteen log buildings, two structures, and a stone root cellar. The ranch has operated continuously as a cattle ranch for over one hundred years. The buildings span the history of the ranch and depict its evolution from a small log homestead cabin to a substantial working ranch with a wide array of barns, stock shelters, and outbuildings.

The original homestead cabin probably dates from the late 1870s or early 1880s when Mads Wolbol, an immigrant from Denmark, settled in Centennial Valley. The Wolbol holdings gradually increased until by 1902, he owned approximately 2,400 deeded acres of land. Starting with a herd of only twenty cattle, Mads Wolbol built up his enterprise until he became one of the foremost ranchers in the region. The ranch holdings were sold several times and was known by several different names over the years. At present, it remains a working cattle ranch.