Steak On The Hoof, LLC, Acquires Ranch

Based in Salem, Oregon, Paul Kerley oversees a number of affiliated companies, including Commercial Property Resources, Inc., and Steak On The Hoof, LLC. Through the latter Salem firm, Paul Kerley successfully pursued the 2020 acquisition of a cattle ranch in Powell Butte, Oregon.

Situated on Southwest Houston Lake Road, the property covers nearly 500 acres, and 300 are suitable for agricultural use. At the center of the property, Little Houston Lake provides a pumped water source for irrigation systems, and it is also used by livestock herds. Additionally, it functions as a wildlife habitat that attracts birds and offers a home to fish. This makes it ideal for various recreational activities, from angling to hunting.

Residential structures on the farm include a four-bedroom, 2,030-square-foot ranch home. The other two homes on the land are 1,006 square feet with two bedrooms and 1,279 square feet, with three bedrooms. With a variety of equipment sheds, barns, and other outbuildings on the ranch, the property has “exclusive farm use” zoning, which keeps federal taxes to the minimum. The $2.3 million transaction used to purchase the property included underground mineral rights, as well as electrical power and well setups.

Multi-Tenant Property in Salem

Based in Salem, Oregon, Paul Kerley is a real estate entrepreneur who oversees an extensive portfolio of rental properties and seeks out value-driven investment opportunities. In September 2019, Paul Kerley guided the purchase of industrial property in Salem, Oregon, at 576 and 572 Patterson Street Northwest.

The transaction was for two buildings encompassing approximately four acres and are zoned as Industrial General (IG). With one building dating back to 1945 and the other built in 2008, the entire property was redeveloped in 2017 and transformed into an industrial, multi-tenant flex space.

When solely owned Kerley Commercial, LLC purchased the property, several tenants took up all available rental spaces. These included Xicha Brewing, Capitol City Sports, Northstar Martial Arts, and a cafe and a winery. With Legacy Real Estate serving as principal broker and SMI Commercial Real Estate, LLC, representing the buyer in the deal, the transaction was valued at $6 million.

Purchases Scenic 500-Acre Cattle Ranch

Salem, Oregon's Paul Kerley purchased Houston Lake Ranch, a scenic cattle ranch in Powell Butte, Oregon. Paul Kerley, a residential and commercial real estate investor located in Salem, Oregon, has almost 40 years of experience in real estate. Mr. Kerley is a former real estate attorney, property owner, property manager, and commercial real estate broker. At one time, he owned an interest in and managed more than $70M in property.

Houston Lake Ranch is a 498.6 acre property in Butte, Oregon, 29 miles northeast of Bend. This multipurpose acreage contains 309.6 acres of irrigated land with wheel lines and several agricultural buildings, including a hay barn and machine shed. The property offers three residences and the on-site Little Houston Lake, along with bountiful wildlife and numerous recreational opportunities.

Houston Lake Ranch was sold for $2.3 million, with Steve Payer of Coldwell Banker in Bend, Oregon, representing the buyer in this transaction.