To invest in commercial real estate, it would be wise to know what commercial real estate is. This form of real estate covers a wide variety of properties, that usually gets divided into five categories. Also, each class has its unique subdivisions. Continue reading to learn more about all the different types of commercial real estate.
Here are 5 common types of commercial real estate.
Office Commercial Real Estate
Office buildings are the most common commercial space. Buildings are located in urban and suburban areas and are distinguished by location and typically size. An urban office building could be a skyscraper, while a suburban one might be in an office park. Office buildings usually have three separate classes: A, B, and C.
- Class A: These are the highest ranked of all buildings. They are newer buildings and state-of-the-art facilities located in a prime business spot.
- Class B: Office buildings with an average price in an average location are a step below Class A buildings.
- Class C: Older buildings or places with potential for development are placed in this category.
Retail Commercial Real Estate
Retail buildings are also a popular type of commercial property. They include all retail and restaurant locations. The retail category may be more complex than you’d expect, as there are eight types of shopping centers. These eight shopping centers order the retail property market more or less by size and number of tenants.
Industrial Commercial Real Estate
Industrial properties also give a fair share of investment opportunities. Warehouses and large manufacturing sites make up this category. You can find these particular buildings on the side of major highways and city and county areas.
Multi-Family Establishments
Multi-family units also have specific categories within themselves. While they can be classified as Classes A, B, and C like office properties, they come in different shapes and sizes. Apartment complexes, condominiums, townhouses, and more count as multi-family properties.
Special Purpose Buildings
Unique purpose buildings cover many different types of commercial buildings. Hotels, stadiums, airports, amusement parks, and other commercial properties go here.
Trust the Professionals at Clagett Enterprises for Your Realty Needs
If you’re looking for an experienced property management company, the perfect realtor for your property, or a professional to assist you during your purchase of any home, you can rely on Clagett Enterprises. Clagett Enterprises is a full-service real estate company with almost 30 years of experience in the Frederick and Western Maryland area. For assistance with commercial sales, leasing, management, and development and consulting, contact us online or give us a call at 301-665-6009. To meet our team and see some of our beautiful homes, follow us on Facebook and Linkedin.