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Commercial Property in USA

What is Commercial Real Estate?

All business purpose properties are considered commercial real estate in USA. Shopping malls, offices, restaurants, gas stations, stores, office towers are just some of the examples of commercial properties or commercial real estate. The other type is residential property type, which is mostly for living. There is also industrial real estate and land. Commercial real estate is usually leased to business owners, which is done by an owner, who collects the rent from businesses. See the list for our commercial properties.

commercial priperty

Types of Commercial Real Estate

 

Office

Office buildings are usually loosely grouped into one of three categories: Class A, Class B, or Class C. These classifications are all relative and largely depend on context. Class A buildings are considered the best of the best in terms of construction and location. Class B properties might have high quality construction, but with a less desirable location. And Class C is basically everything else. The highest and most expensive ones are located in metropolitan areas and are called Central Business District offices. They are considered high rise offices.

Industrial

Manufacturing goods will require a manufacturing plant, building or a space where the workers will be producing goods. Heavy industry (manufacturing) is commercial property where a line of cars is being built, or most of the other large manufacturers. When changing tenants renovation is needed in most cases. Storages, light assembly and other lighter manufacturing industries have much easier job in finding real estate, as it can be easy re-configured and assembled. Warehouses also can fall under this category as flex and bulk warehouses. Mostly used for regional distribution, and can be mix of industrial and office space.

Retail

Retail includes anything from small strip centers to large shopping malls. Strip center is a small retail property that can include anchor tenants ( Wall-Mart, Target) to attract customers. It’s usually a mix of small retail stores. Community retail center is bigger and ranges from 150,000 to 350,000 sq feet. Grocery stores, drug stores, sport centers together with few anchor tenants is what makes the bigger form of retail community center. Power center is bigger and has more retail stores, is bigger in size and has major retailers. Regional mall is next in line, it features a lot of anchor tenants and big department stores. Finally out parcel is the biggest retail center that contains a whole parcel. It could be big individual tenant like a bank, whole shopping mall or anything else that falls into this category.

Multifamily

Apartments with over 30 units and few stories. Garden apartments that have anywhere from 50-200+, parking and no elevators. Midrise properties are apartments that are 5+ stories tall and have 30-100 units. Highrise apartments are usual for metropolitan cities and have over 100 units. they are professionally managed and most expensive out of all the other apartments in multifamily commercial real estate property section.

 

Hotels

Three types of hotels are classified as commercial real estate property in United States. Full services hotels, limited service hotels and extended stays. All of them are under commercial real estate and all of them accommodate guests and visitors.

Land

Self explanatory category. Empty land such as farm, pasture is classfied as greenfield, infill land is located in the city and is vacant. Parcels of land previously used for commercial properties are brownfield.

Special-Purpose

If the commercial property can’t be classified under any of the above properties, then it can fall in to the special purpose property category. Funeral homes, community centers, nursing homes, churches, car washes, self storage, marinas and many more are example of special purpose commercial property real estate.