Do you want to decide if you’re buying the right commercial real estate? If you do, you need to know what commercial property types are. Doing so can help you know what you need to pursue on your journey to have a business.
Read on to learn more about the varieties and what you should know about them.
What is a Commercial property?
Commercial property is using any land or building for business purposes. Common types are office buildings, retail stores, warehouses, and industrial buildings.
There are many different types of commercial property, and each has its own unique partnership with cleaning companies like megasvs.com.
Retail Properties
Retail properties are strip malls, shopping centers, and standalone stores.
Strip malls are rows of stores, all with individual entrances. These commercial property types are usually found in suburban areas. They are convenient for customers who want to be able to stop at many stores in one trip.
Shopping centers are like strip malls. They are usually larger and may have anchor stores, larger stores that serve as a draw for customers. You can see this retail property in urban areas.
Standalone stores are a single store that operates alone. You can find these types of retail properties in both suburban and urban areas and come in a variety of sizes.
Office Properties
Office properties are either Class A or Class B. Class A office properties are the highest quality buildings, with the best locations, highest-priced rents, and most amenities. On the other hand, Class B office properties are lower quality buildings, with less expensive rents and fewer amenities.
Office properties are further subcategorized by age and condition, with newer, well-maintained buildings commanding higher rents than older, less well-maintained buildings.
Industrial Properties
Industrial properties are one of the most common commercial property types. Are defined as any property that is used for manufacturing, assembly, or production purposes.
This includes warehouses, factories, and other industrial buildings. Industrial properties usually have large spaces and high ceilings, and they are often located in industrial parks or zones.
Mixed-Use Properties
A Mixed-Use Property is a property that has two or more different types of uses. For example, a property might have commercial space on the first floor and apartments on the upper floors. Mixed-use properties are beneficial because they can generate income from many sources.
Specialty Properties
Specialty properties are a type of commercial real estate that is used for a specific purpose. These properties can be anything from a factory to a storage warehouse. They are not office buildings or retail stores.
Invest in Commercial Property Types
If you’re looking to invest in commercial property, it’s important to know the commercial property types available. This guide provides an overview of the different types of commercial properties, so you can make an informed decision about which type is right for your business.
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