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Bank of the Sierra 142 S Mirage Ave 5,116 SF Retail Building Lindsay, CA 93247 $2,929,347 CAD ($572.59 CAD/SF) 6.20% Cap Rate
Investment Highlights
- Bank of the Sierra (NASDAQ: BSRR) maintains an investment-grade credit rating (BBB+ from Kroll Bond Rating Agency)
- Proven operating history spanning multiple decades
- Deposits for this location exceed $94,000,000
- Long-term lease through December 2041
- Absolute NNN – No landlord responsibilities
- Limited competition in the area – this is the only bank located in Lindsay
Executive Summary
The Boulder Group is pleased to exclusively market for sale a single tenant net leased Bank of the Sierra located in Lindsay, California. Bank of the Sierra has a successful operating history from this location that spans multiple decades. They are currently operating on a long-term lease through December 2041. The subject lease is absolute triple net and presents zero landlord responsibilities. Additionally, there are 2.25% annual rental escalations throughout the remaining primary term and two three-year renewal options. The lease is backed by a corporate guaranty from Sierra Bancorp. The tenant maintains an investment-grade BBB+ credit rating from Kroll Bond Rating Agency. Deposits for this location exceed $94,000,000.
The 5,116 square-foot building is located along South Mirage Avenue and bene?ts from being the only bank in Lindsey, California. The site is only a few minutes from North Highway 65, which sees approximately 20,800 vehicles per day. The property is located across from the United States Postal Service and Lindsay City Hall, both drawing a consistent ?ow of foot and vehicle traffic. The surrounding area is home to more than 22,000 residents within a ?ve-mile radius where the average household income exceeds $77,000.
Bank of the Sierra, a subsidiary of Sierra Bancorp (NASDAQ: BSRR), stands as the largest independent community bank headquartered in California’s southern San Joaquin Valley. Founded on September 14, 1977, in Porterville, California, with one branch, 11 employees, and $1.5 million in initial assets, the bank—headquartered at 86 N. Main Street in Porterville—has grown impressively to $3.83 billion in total assets (a strong 6.0% increase from $3.61 billion at December 31, 2024), nearly $3 billion in deposits, 35–36 full-service branches plus loan production offices, and approximately 476–500 employees as of late 2025. Serving retail and commercial banking needs across Tulare, Kern, Kings, Fresno, Ventura, San Luis Obispo, Santa Barbara, and Los Angeles counties.
The 5,116 square-foot building is located along South Mirage Avenue and bene?ts from being the only bank in Lindsey, California. The site is only a few minutes from North Highway 65, which sees approximately 20,800 vehicles per day. The property is located across from the United States Postal Service and Lindsay City Hall, both drawing a consistent ?ow of foot and vehicle traffic. The surrounding area is home to more than 22,000 residents within a ?ve-mile radius where the average household income exceeds $77,000.
Bank of the Sierra, a subsidiary of Sierra Bancorp (NASDAQ: BSRR), stands as the largest independent community bank headquartered in California’s southern San Joaquin Valley. Founded on September 14, 1977, in Porterville, California, with one branch, 11 employees, and $1.5 million in initial assets, the bank—headquartered at 86 N. Main Street in Porterville—has grown impressively to $3.83 billion in total assets (a strong 6.0% increase from $3.61 billion at December 31, 2024), nearly $3 billion in deposits, 35–36 full-service branches plus loan production offices, and approximately 476–500 employees as of late 2025. Serving retail and commercial banking needs across Tulare, Kern, Kings, Fresno, Ventura, San Luis Obispo, Santa Barbara, and Los Angeles counties.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bank
Building Size
5,116 SF
Building Class
C
Year Built
1993
Price
$2,929,347 CAD
Price Per SF
$572.59 CAD
Cap Rate
6.20%
NOI
$181,620 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
0.75 AC
Opportunity Zone
Yes
Zoning
PO
Parking
23 Spaces (4.5 Spaces per 1,000 SF Leased)
Frontage
126’ on South Mirage Avenue
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Finance and Insurance
- -
- -
- Dec 2041
L'histoire de Bank of the Sierra commence le 14 septembre 1977 dans la communauté agricole très unie de Porterville, en Californie. Ils ouvrent leurs portes avec une succursale, 11 employés, 1,5 million de dollars en actifs et une mission décisive pour aider leurs voisins à prospérer. Depuis, elle est devenue la plus grande banque indépendante ayant son siège social dans le sud de la vallée de San Joaquin, en Californie, avec plus de plusieurs milliards d'actifs, de nombreux employés et des succursales offrant une gamme complète de services bancaires et commerciaux et de prêts de détail.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Finance and Insurance | - | - | Dec 2041 |
Walk Score®
Very Walkable (72)
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,692,815 CAD | |
| Land Assessment | $346,321 CAD | Total Assessment | $2,039,136 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$346,321 CAD
Improvements Assessment
$1,692,815 CAD
Total Assessment
$2,039,136 CAD
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Bank of the Sierra | 142 S Mirage Ave
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