This facility is in the IRS Economic Opportunity Zone which could benefit an investor with significantly reduced or completely eliminated capital gains taxes. The existing buildings sit on ~7.85 acres in the center of Delano, CA with ~.75 mile frontage on Hwy 99 with more than 100,000 cars passing daily. The property boasts three buildings totaling ~50,000 SF with acreage for additional industrial and commercial development. Two buildings are currently used for storage by a solid tenant and can easily be converted into an event center facility for weddings and quinceaneras, which was the owner's (now retired) original intention. The third building is an actively run dance and music school which produces passive income from a solid, long-term tenant. Operating the facility as an event center could yield pro- forma revenue upwards of $50,000 per month. The courtyard between the buildings is also set up as a stage, potentially seating up to 2,400 people for concerts, festivals, and wedding ceremonies.
The open land is also the only land in Delano that has a conditional use permit for a weekend swap meet. This swap meet can host 259 different vendors, and at full capacity could produce over $12,000 every weekend with minimal expenses. Swap meet vendor stalls range from $20-$30. There is also plenty of room for additional development on the property.
This property hosts several traveling circuses every year for additional rental income. A large new Catholic Church is being built less than a quarter mile from this property on the same street, on the other side of the overpass, which will result in a huge influx of traffic and commercial interest in this property.
APN & Parcel Info: 411-020-03 Between Glenwood and High Street, Delano, CA (Open land) - 2.07 acres 410-040-04 Between Glenwood and High Street, Delano, CA (Open land) - 0.09 acres 411-020-05 1936 Glenwood Between Glenwood and High Street, Delano, CA (Open land) - 0.92 acres 411-020-06 1933 Glenwood 4,800 SF Steel building, Delano, CA (Land & Warehouse) - 0.39 acres 411-020-07 1835 Glenwood 14,000 SF enclosed + 4,000 SF covered Terrace, Delano, CA (Land & Warehouse) - 2.84 acres 411-020-08 1815 Glenwood 23,000 SF enclosed Steel building, Delano, CA (Land & Warehouse) - 1.54 acres
Located at 1815 and 1835 Glenwood Street in Delano, CA