Multifamily can include everything from a duplex up to a multi-hundred unit building. This includes residential properties such as condominiums, apartment buildings and town homes. Apartment rental buildings, in particular, are split into multiple property types.
Retail consists of retailers and restaurants. They can be multi-tenanted (often with an anchor, or lead tenant, that serves to drive traffic to the property) or single-use, standalone buildings.
Office buildings are generally categorized into two types: urban or suburban. Urban office buildings are found in cities and include skyscrapers and high-rise properties—some may even total as much as a few million square feet in size. Suburban office buildings are usually smaller in stature and sometimes grouped in office parks.
Industrial buildings house industrial operations for a variety of tenants, and are mostly located outside urban areas, especially along major transportation routes. The low-rise buildings can also be grouped into industrial parks. The properties are categorized into four main types.
The hotel sector covers establishments providing accommodations, meals, and other services for travelers and tourists. The hotels may be independent (boutique) or flagged—the latter means it’s part of a major hotel chain, such as a Marriott or Sheraton.
Mixed use properties, while their own distinction, can actual be a combination of any of the aforementioned types of commercial property.
The most common form of mixed-use properties, especially in cities, are retail/restaurant properties with offices or residences sitting atop.
There are three main categories of land in regard to commercial real estate, Greenfield/Agricultural land, Infill land, and Brownfield land. Greenfield land refers to undeveloped land such as a farm or pasture. Brownfields are parcels of land previously used for industrial or commercial purposes but are now available for re-use.
Special purpose real estate may be owned by commercial real estate investors, but don’t fall into any of the sectors mentioned above. For instance, amusement parks, churches, self-storage, and bowling alleys are special-purpose facilities.
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