Bank of the Sierra 224 W F St 5,686 SF Retail Building Tehachapi, CA 93561 $2,425,937 ($426.65/SF) 6.20% Cap Rate

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Bank of the Sierra located in Tehachapi, 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. Deposits for this location exceed $148,000,000.
The 5,686 square-foot building is located just minutes from State Highway 58 (20,700 vehicles per day) which connects Bakers?eld to Barstow. The site bene?ts from nearby traffic draws including Tehachapi Municipal Airport and Tehachapi High School, which generate consistent daily traffic to the area. Local retailers include The Home Depot, Albertsons, Walmart Supercenter, Tractor Supply Company, Starbucks, McDonald’s, and several others. There are approximately 20,000 residents within a ?ve-mile radius of the property, with those residents earning an average household income exceeding $100,000.
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.