Bakersfield Retail for Sale - University Centre
The Boulder Group is pleased to exclusively market for sale a single tenant net leased Bank of the Sierra located in Bakers?eld, 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 one three-year renewal option. 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.
The 3,987 square-foot building is located in southwest Bakers?eld, directly adjacent to California State University Bakers?eld (CSUB), which enrolls roughly 10,500 students and generates consistent daily traffic and demand. The property is surrounded by several major thoroughfares including Old River Road (38,000 VPD), Gosford Road (43,000 VPD), and Stockdale Highway (31,000 VPD). The area features a strong population base of over 273,000 residents within a ?ve-mile radius and affluent demographics, with average household income exceeding $135,000 within one mile. The property is a short walk from The Marketplace, a vibrant shopping destination occupied by Vons, Ulta Beauty, Regal Cinemas, Starbucks, Applebee’s, Famous Dave’s, Bank of America, and Carl’s Jr. Additional demand drivers include the nearby Dignity Health – Mercy Hospital Southwest along with major office tenants including Morgan Stanley, Parsons, Aera Energy, California Resources Corporation, and several others.
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
