Steak On The Hoof Purchased

Paul Kerley, a respected leader in the Salem, Oregon real estate community, has worked in the real estate industry for more than three decades. Since 1983, he has managed and overseen Commercial Property Resources, Inc., a property management company in Salem, Oregon, now controls about 1800 residential units. Paul Kerley is the sole owner of Steak on the Hoof, and he made the executive decision to expand his business by acquiring a large cattle hay ranch on SW Houston Lake Road in Powell Butte, Oregon.

The acquisition involved a transaction of $2.5 million from Steak On The Hoof to the former owner, and Mary E. Doyle of Coldwell Banker represented both parties in Bend, Oregon.

The property is 109 acres wide. At the time of acquisition, 98 acres of the ranch were irrigated by a flood and a pivot. A salon and residential property sit on a portion of the land close to the outbuildings on the property.

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.