Acquires 500-Acre Houston Lake Ranch

Based in Salem, Oregon, Paul Kerley guides Commercial Property Resources, Inc., where he delivers acquisition and management solutions across the state. Paul Kerley and the Steak OnThe Hoof, LLC, team in Salem, Oregon, engineered the $2.3 million purchase of Houston Lake Ranch in Powell Butte.

The expansive, 500-acre property is zoned for agricultural use and includes a cattle ranching operation. An irrigation system is used to pump and distribute water from Little Houston Lake to surrounding acreage, with approximately 60 percent of the total land irrigated and suitable for farming.

Three residential structures are situated on the property, including a primary ranch house that spans 2,030 square feet and has four bedrooms. The secondary residences are 1,006 square feet and 1,279 square feet, respectively. There are also outbuildings located on site, such as a barn and equipment shed.

As a working cattle ranch, the property benefits from a number of IRS tax exemptions. Other attractions include a lake that serves as a wildlife hub and encourages recreational uses such as hunting and fishing.

Business Purchases Houston Lake Ranch

Paul Kerley is a longtime Salem, Oregon, real estate entrepreneur who directs Commercial Property Resources, Inc., and a number of affiliated companies. Through Steak OnThe Hoof, LLC, Paul Kerley and his Salem, Oregon, team managed the 2020 acquisition of the 500-acre Houston Lake Ranch in Powell Butte.

Situated in an unincorporated part of Crook County, Oregon, and framed by Smith Rock and Cascade Mountain, the working ranch includes approximately 300 irrigated acres. It has a variety of farm structures, as well as three residential dwellings, the latter of which include the original four-bedroom ranch home of more than 2,000 square feet and a pair of smaller two- and three-bedroom homes.

A distinct asset of the property is its lake, which provides water for livestock and is also used as a source of pumped irrigation water. Attracting waterfowl and stocked with fish, the lake is a haven for wildlife and supports both angling and hunting. The $2.3 million purchase of the land included all mineral rights, and the property receives tax exemptions as a working agricultural enterprise.