Bank of the Sierra 1498 W Olive Ave 3,294 SF Retail Building Porterville, CA 93257 $1,511,383 ($458.83/SF) 6% Cap Rate

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Bank of the Sierra located in Porterville, 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 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 $98,000,000.
The 5,116 square-foot building is located along West Olive Avenue, which carries over 25,500 vehicles per day, and is situated less than one mile west of Highway 65 South (28,500 vehicles per day). The site bene?ts from its proximity to Porterville High School (2,100 students) and Sierra View Medical Center, which generate consistent daily traffic to the area. Neighboring retailers include Smart & Final Extra, Town & Country Market, Dollar General, Goodwill, NAPA Auto Parts, Sherwin-Williams, and several others. There are approximately 75,000+ residents within a ?ve-mile radius of the property, those of which earn an average household income exceeding $90,000 within one mile.
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.