Commercial real estate
Residential property is the property which is used for dwelling. These properties always built for residential purposes whereas Commercial real estate are any non-residential property used for the purpose of generating wealth or earning money. However, Commercial real estate’s include office buildings, stores, malls, and industrial parks.
How to buy commercial real estate?
The normal and primary way to buy commercial properties is through a real estate agency. A real estate agent provides you those commercial properties which are in your budget and meet your requirements. The other popular method to find commercial property is by exploring property websites.
What are the Types of Commercial Real Estate Properties?
The main purpose of commercial properties is to earning money as we have discussed above. Now we are going to explain to you the types of commercial real estate properties.
Office buildings are further categorized into two categorized which are urban or suburban. However, urban offices or buildings are those buildings which are usually found in the cities. These are skyscrapers and consists of too many floors. On the other hand, the suburban office builders are smaller in size and these buildings are established for the specific work or purpose. All these office buildings have multi-tenanted or single-tenanted by which they earn money.
Retail properties are those properties which are retail business often we have seen in the form of retail shops and other restaurants. These retail properties can be multi-tenanted or single-tenanted. The retail properties may provide services or selling goods for the purpose of earning money. Retail properties also categorize as shopping malls and shopping center, which consists of many retail shops.
These are industrial buildings which operate its services outside the urban areas. It comprises a large number of workers and this building specially built for a single purpose. This industrial sector can be categorized into four categories.
- Heavy manufacturing
- Light assembly
- Bulk warehouse
- Flex industrial
Hence the name suggests, these are heavy industries which have heavy and large machinery. These industries produce goods in order to sell in the market.
These industries not producing goods, these are established for assembling the different parts of the products.
These are the distribution centers, which are large in size and can store a large number of manufacturing products.
These industries comprise office space and manufacturing area.
It consists of all types of Commercial real estates which are for residential purpose. It includes condos, co-ops, apartments, and townhomes.
The hotel is the common commercial property which not only provides accommodation facilities to the individual and family member, but also provides meals and other services to the customers. The hotel owner earns much money in this way.
There are many parks in the country as these are recreation properties which are in shape of amusement parks, zoo, safari park and in the park for recreations. The owner of these parks can be a private firm or government bodies.