Bank of the Sierra 40884 Sierra Dr 3,294 SF Retail Building Three Rivers, CA 93271 $660,607 ($200.55/SF) 5.90% Cap Rate

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Bank of the Sierra located in Three Rivers, 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 1,602 square-foot building in Three Rivers is situated just minutes from the main southern entrance to Sequoia and Kings Canyon National Parks—two of California’s most iconic destinations—with the Sequoia entrance located only a short drive from town. The site bene?ts from strong regional tourism traffic, as Tulare County saw $626.2 million in tourism spending in 2024, marking a solid 6.0% increase from the prior year. As the ?nal stop for lodging, dining, fuel, and ?nancial services before entering the parks, Three Rivers captures a steady stream of visitors heading to these major attractions. There are approximately 2,000–2,300 residents within the immediate area, with average household income exceeding $107,000 within a ten-mile radius, supporting a prosperous local customer base alongside the consistent park-bound ?ow.
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.