He most-recently played for the Orioles in 2011, batting .290 and hitting 13 home runs. While those are not prime-Vlad numbers, they are certainly good enough to where a team should be interested in his services. It is rather curious as to why he has not received any interest about even a role as Spring Training competition.
Guerrero has previously played for the Expos, Angels, Rangers, and the previously-mentioned Orioles. He is likely no longer a candidate to play outfield, but is more of a designated hitter due to his age and lack of athleticism. The Independent League is not always a death sentence, but this late in his career it might be a bad sign.
For a hitter who used to be one of the most feared hitters in baseball, he has certainly fallen a long way in a short amount of time.
If he hits well enough he could possibly sign on with a team, and there is a small list of players who have done that.