Multi-Tenant Retail
For Sale
Contact for pricing
2234 Girard Street, Delano, CA 93215
Established service-oriented occupancy, GC - General Commercial zoning, and direct access to State Highway 99 ramps.
Property Size8,913 SF
Price / SF$347.69
Days on Market124
Property Features for 2234 Girard Street
General Information
Standard status
Active
Size
8,913 SF
Property subtype
Retail, Office
Zoning
GC - General Commercial
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$232,475
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1999
Buildings
1
Units
3
Tenancy
Multi
Listing Agency:
SRS Real Estate Partners Newport Beach
(949) 585-7610
Listed By:
Alexander Moore · License #CA 02111286
Source:
Crexi
Added: Apr 30
Changed: Aug 30
Last Checked: Aug 30 at 11:55PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SRS Real Estate Partners Newport Beach
Investment Insights
Based on property information with market context.
This 8,913 SF shopping center was built in 1999 and contains three occupied retail suites. Current occupants include a Social Security Office, a comprehensive dentistry practice, and a 250 SF massage therapy business. The property is zoned GC - General Commercial, supporting its existing commercial configuration.
The center is positioned on Girard Street, which connects directly with the on- and off-ramps for State Highway 99, a major arterial serving Delano. The Social Security Office recently completed a five-year extension through 2029, while the dentistry practice renewed early through 2032. Both primary occupants have lengthy operating histories at the property, with the dentistry practice in place since 2001 and the Social Security Office since 2009.
The center is positioned on Girard Street, which connects directly with the on- and off-ramps for State Highway 99, a major arterial serving Delano. The Social Security Office recently completed a five-year extension through 2029, while the dentistry practice renewed early through 2032. Both primary occupants have lengthy operating histories at the property, with the dentistry practice in place since 2001 and the Social Security Office since 2009.
Key Highlights
- Three‑tenant retail center totaling 8,913 SF
- Social Security Office renewed for 5 years through 2029
- Comprehensive dentistry practice renewed early through 2032
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$102,415
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,048,300
$2.0M
Cap Rate 7%
$1,463,071
$1.5M
Cap Rate 9%
$1,137,944
$1.1M
Market Conditions
NOI Build-Up for 8,913 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$155.1K $17.40/SF
− Vacancy
−$18.5K −$2.08/SF
EGI
$136.6K $15.32/SF
− OpEx
−$34.1K −$3.83/SF
NOI
$102.4K $11.49/SF
Area
Kern County, CA
Vacancy
11.95%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,048,300
Cap Rate 7%
$1,463,071
Cap Rate 9%
$1,137,944
Alternative Uses
Best Use
Office B
$1.46M
$1.28M – $1.71M
NOI $102,415 @ 7.0% cap · market cap 3.30%
Second Best
Retail
$1.26M
$1.10M – $1.47M
NOI $88,065 @ 7.0% cap · market cap 2.84%
Theoretical Best
Warehouse
$1.90M
$1.67M – $2.22M
NOI $133,285 @ 7.0% cap · market cap 4.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
173
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93215, CA
53,626
Population
13,207
Households
4.1
Avg Household Size
32
Median Age
8%
College-Educated
62%
High-School Grad
145.5 sq mi
ZIP Area
369
Density / Sq Mi
$61,329
Median Household Income
$26,998
Median Earnings
$1,085
Median Rent
$271,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Established service-oriented occupancy, GC - General Commercial zoning, and direct access to State Highway 99 ramps.
Where is this shopping center located?
The property is located at 2234 Girard Street Delano, CA.
What is the asking price?
The asking price for this property is $3,099,000.
What are key features of this property?
This property features: Three‑tenant retail center totaling 8,913 SF; Social Security Office renewed for 5 years through 2029; Comprehensive dentistry practice renewed early through 2032
