You may be familiar with the basic types of commercial real estate, like office, retail, and industrial. But in reality, there is so much more. I’ve broken out the most common.
Office buildings can range from single story to high–rise buildings and can have one tenant, or multiple tenants. Typical tenants would be business, medical or dental professionals. Executive suites and coworking spaces also fall into this category. Office buildings are further broken down into Class A, B, or C.
Industrial properties have several categories that are broken down based on their specific use.
Retail properties come in many forms and are broken down into subcategories. Although they can be broken down further, these are the most common types:
Multi-family residential buildings include apartment buildings, condos, and townhomes. Generally, anything residential that is larger than a fourplex is considered a commercial property.
Mixed use properties can be a combination of any of the types of properties mentioned above. The most common form is retail/restaurant on the first floor with office and/or residential in space above. But really it could be a combo of just about anything.
There are some properties that just don’t fit into any of the above property types. This catch all category includes self storage, hotels, medical, and anything else not defined in any of the above categories.
This is undeveloped and raw land to be used for future development. City zoning codes will determine the type of commercial property that can be built here.
I hope this helps shed some light on the vast range of commercial property definitions. Every tenant is unique and has specific needs—a local tenant rep broker can help you determine the best space that will meet your needs.