Listed by Bang Realty, The Boulder Group
$2,506,802
Bank of the Sierra
Details
Property Type Retail
Sub Type Bank
Square Footage 5,686
Cap Rate 6%
NOI $150,408
Occupancy 100%
Tenancy Single
Brand/Tenant Bank of the Sierra
Lease Type Absolute NNN
Lease Expiration 12/31/2041
Remaining Term 15.6
Rent Bumps Yes
Lease Options One 3-year
Price per SqFt $441
Year Built 1950
Acreage 0.690
Investment Type Net Lease
Tenant Credit Credit Rated
6.00% Cap Rate | NNN | $148 Million in Deposits
Investment highlights
Positioned within the Bakersfield MSA
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 $148,000,000
Proximity to State Highway 58 (20,700 Vehicles per day)
Nearby traffic draws include Tehachapi Municipal Airport & Tehachapi High School
Local retailers include The Home Depot, Albertsons, Walmart Supercenter, Tractor Supply Company, Starbucks, McDonald’s, & several others
Approximately 20,000 residents within a five-mile radius
Average household income exceeds $100,000 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
$150,408.00
$12,534.00/mo
Valuation Metrics
0
DSCR
6%
Cap Rate
6%
ROI
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