Get a rare look at Michael Jackson's Neverland Ranch, on sale for $100 million

It's synonymous with Michael Jackson, and it can be yours for $100 million.

The official name of the 2,700-acre spread in Los Olivos, California, is Sycamore Valley Ranch, but it's better known as Neverland Ranch, the former home of the King of Pop. NBC's Joe Fryer got a rare tour of the property, where there's a thorough vetting process for potential buyers just to be allowed to see the ranch.

"Michael's vision was to take the ranch back to its natural setting and to sell the ranch eventually,'' Kyle Forsyth of Colony Capital told Fryer. "So we're just following through with our original vision."

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Jackson bought the ranch in 1987 for $19.5 million and turned it into a Peter Pan-inspired amusement park with a 12,000-square foot, six-bedroom mansion as the centerpiece. In 2005, the ranch was the site of child molestation accusations against Jackson, who was charged and acquitted.

A view of the pool at Michael Jackson's Neverland Ranch, which is on the market for $100 million
Michael Jackson's Neverland Ranch is on the market for $100 million.

Colony Capital bought the property from Jackson for $22.5 million before his death in 2009 when he was in default on a loan. TODAY's Matt Lauer was given a rare glimpse inside the workings of the ranch shortly after Jackson's death.

The amusement park rides and circus animals are gone, but the railroad tracks and the train station with a giant clock made of flowers remain intact. Also, a 50-seat movie theater designed by Jackson is still part of the property. Fryer also was given a rare look at the spectacular view overlooking the ranch's four square miles, which includes Mount Catherine, named after Jackson's mother.

Michael Jackson's Neverland Ranch is on the market for $100 million, and includes a large home cinema

The buyer will be free to alter the property as he or she sees fit, but the hope is that it will be someone with an appreciation for its history.

"We still have an affinity for Michael and a deep respect for Michael's legacy,'' Forsyth said.

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