Listed by Bang Realty, The Boulder Group
$2,228,810
Bank of the Sierra
Details
Property Type Retail
Sub Type Bank
Square Footage 5,116
Cap Rate 6%
NOI $133,729
Occupancy 100%
Tenancy Single
Brand/Tenant Bank of the Sierra
Lease Type Absolute NNN
Lease Expiration 12/31/2041
Remaining Term 15.5
Rent Bumps Yes
Lease Options Two 3-year
Price per SqFt $436
Year Built 1993
Acreage 0.750
Investment Type Net Lease
Tenant Credit Credit Rated
6.00% Cap Rate | NNN | $93 Million in Deposits
Investment highlights
Bank of the Sierra (NASDAQ: BSRR) maintains an investment-grade credit rating (BBB+ from Kroll Bond Rating Agency)
Long-term lease through December 2041
Proven operating history spanning multiple decades
Absolute NNN – No landlord responsibilities
2.25% annual rental escalations
Deposits for this location exceed $94,000,000
Limited competition in the area – this is the only bank located in Lindsay
Minutes from North Highway 65 (20,800 vehicles per day)
Located across from USPS and Lindsay City Hall
Approximately 22,000+ residents within a five-mile radius
Average household income exceeds $77,000 within five miles
Listing Contacts
Listed by Bang Realty, The Boulder Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$133,729.00
$11,144.08/mo
Valuation Metrics
0
DSCR
6%
Cap Rate
6%
ROI
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Property History
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