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Three Popular Types Of Commercial Real Estate

When someone is looking to define the difference between residential and commercial real estate, the most important thing to help you remember is to consider what the property is being used for. If the primary use is going to be to reside or live in, it is residential property. When the primary use of the property is going to be for profit or to make money, the building would be commercial, even if the owner resides there (with a few exclusionary factors). Its always best to check with a real estate attorney if you are unsure, but if your main purpose of buying a property is the pursuit of income or business, it is like commercial property, which has it its own sets or ordinances and tax laws that you need to be aware of in whatever state and county you reside in. Let’s take a look at three common types of commercial real estate.

Three Popular Types Of Commercial Real Estate

  • Retail
  • Office
  • Multifamily

Retail sounds exactly like it is – the exchange of goods for money. This could include storefronts, a strip mall, an entire mall, outdoor mall, outlet center, storefront, or more. Sometimes restaurants are included in this category, because it’s a rare strip mall or retail center that doesn’t have some type of restaurant located in it. Usually, if there are multiple stores in a strip mall, there is a lead store that does the majority of the advertising and brings in the most traffic. This could be a popular restaurant.

Office space could be anything from law offices, medical offices, urgent care centers, daycare centers, accounting services, even your local real estate agent! In large cities, very large corporations may inhabit massive areas in tall buildings (such as major banks or financial institutions). In smaller towns, office space could be a massage therapist, a tattoo artist, and a lawyer in the same building. In truly depends on building codes and town culture.

Multifamily refers to rental/tenant type situations – usually, apartments or townhomes. As long as it two dwellings connected together, it could qualify as commercial real estate. If it is one home you are buying to lease/rent out, it is not a commercial property, it is still a residential property. Multi-family units can be high-rise building with elevators to four-unit townhomes in the country.

In the meantime, check out these 1-click searches:

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Newest Key West Commercial Properties on the Market

Fantastic lease opportunity for your business in one of the best locations in Key West downtown next to Mallory Square & Sunset Celebration, Custom House Museum, Mel Fisher treasure Museum, Key West Aquarium, Tourist Information Centre, and nearby resorts like the Opal Hotel, Ocean Key and Pier House and other hotels. High traffic location with cruise ship passengers and tourists using the old town train & trolley stationed right across the street! Ground level storefront with large display windows and approximately ~1250 sf of retail space with an additional ~900 sf of space that could be combined next door for a total of ~2150sf . In addition to the monthly base rent quoted, tenant pays NNN fees plus sales tax. $8,300 Active

308 Front Street KEY WEST, Florida

1 Baths 9,411 SqFt

Fantastic lease opportunity for your business in one of the best locations in Key West downtown next to Mallory Square & Sunset Celebration, Custom House Museum, Mel Fisher treasure Museum, Key West Aquarium, Tourist Information Centre, and nearby large resorts like the Opal Hotel, Ocean Key and Pier House and other hotels.High traffic location with cruise ship passengers and tourists using the old town train & trolley stationed right across the street!  Ground level storefront with large display windows and approximately ~900 sf of retail space with an additional ~1250sf of space that could be combined next door for a total of ~2150sf . In addition to the monthly base rent quoted, tenant pays NNN fees plus sales tax. $6,000 Active

304 Front Street KEY WEST, Florida

1 Baths 9,411 SqFt

Prime redevelopment opportunity! Located in a rapidly changing area of Stock Island, this Mixed Use zoned property has many viable uses. Current uses include a small commercial storefront and a residential apartment. With some creative vision, this 10,039 square foot lot is a diamond in the rough nestled only a couple of blocks away from the famous Perry Hotel and Marina complex along with Bernstein Park. Please call today for additional information. $1,000,000 Active

5515 5Th Avenue Stock Island, Florida

1 Beds 1 Baths 3,367 SqFt

Location Location! Excellent Opportunity to join the thriving & attractive business environment the 300 block of Duval has to offer. Approximately ~1600sq.ft. of retail space available with parking and a private outdoor courtyard area with an additional 275sq.ft., 335-F Duval Street.  Located in the heart of the Key West Duval St. tourism district with heavy foot traffic passing by. Monthly rent quoted is not negotiable, 4% annual increases apply, triple net charges & sales tax are included in the monthly rent quoted. Please do not disturb business. $13,602 Active

335 Duval Street F KEY WEST, Florida

1 Baths 1,600 SqFt

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Posted in: Buyers, Buying Commercial Real Estate, Leasing Commercial Real Estate, Owning a Business, Renting Commercial Real Estate Tagged: definition of commercial real estate, multifamily property, office property, retail property, types of commercial real estate

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Business Address:
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