Bank of the Sierra 427 W Lacey Blvd 4,939 SF Retail Building Hanford, CA 93230 $2,017,552 ($408.49/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 Hanford, 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 the location exceed $108,000,000.
The 4,939 square-foot building is located along West Lacey Boulevard, which carries approximately 18,000 vehicles per day, and is situated just minutes from State Route 198 (38,000 vehicles per day) while also being directly adjacent to Hanford Amtrak Station. The property bene?ts from its position near Hanford Mall, a regional shopping destination occupied by Cinemark, Kohl’s, Bath & Body Works, Foot Locker, and Urban Air Trampoline Park. The site is also within proximity to Hanford West High School and Adventist Health Hanford, which generate consistent daily traffic. Surrounding national retailers include The Home Depot, Lowe’s, Target, ALDI, Walmart Supercenter, Old Navy, Marshalls, Michaels, PetSmart, and Harbor Freight, among many others. There are approximately 72,000 residents within a ?ve-mile radius of the property, those of which earn an average household income exceeding $90,000.
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