Types Of Commercial Real Estate

1. Types Of Commercial Real Estate Oakville commercial lease definition of commercial real estate is anything larger than a single-family home. So, anything from a duplex, all the way up to the largest buildings in the country. While official classifications can vary from county to county, generally, commercial real estate can be broken down into eight major categories. Below, they will run through the different types of commercial real estate, looking at each of the following. They will explore different building types, property and land use types, and skim through some examples of each asset class along the way. 1. Multifamily Multifamily properties are the go-between for residential and commercial real estate. While they can serve primarily as a residency, the general purpose for the property type is for investment (owner-occupied or not). The multifamily asset class includes everything from a duplex up through a multi-hundred unit apartment building. 2. Duplex/Triplex/Quadruplex Duplexes are two-unit rental properties, triplexes are three-unit properties, and quadruplex, four units. Pretty straightforward. The “plex” suffixed property types are found in virtually every market but are more for beginning investors and those that would like to make a profit on their residence (by renting out other units). Apartment buildings, on the other hand, are typically distinguished as being low, mid, or high rise based on the number of stories they have. 3. Garden Apartments Suburban garden apartments started popping up in the 1960s and 1970s, as young people moved from urban centres to the suburbs. Garden apartments are typically 3-4 stories with 50-400 units, no elevators, and surface parking. Essentially, it is a collection of low-rise apartment buildings on one piece of property, those of which may share a yard or other land space. 5. High-Rise Apartments High-rise apartments are found in larger markets, usually have 100+ units, and are professionally managed. The number of stories is less explicit for high-rise buildings, but typically once you exceed 10-12 stories, most markets will

2. consider the building as a high-rise. Once a high-rise building exceeds 40 stories and meets a certain height, it’s generally considered a skyscraper. 6. Central Business District (CBD) Office buildings located in a central business district (CBD) are those that are in the heart of a city. In larger cities like Chicago or New York, and some medium sized-cities like Orlando or Jacksonville, these buildings would include high rises found in downtown areas. 7. Suburban Office Buildings This classification of suburban office space generally includes mid-rise structures of 80,000-400,000 square feet located outside of a city centre. Cities will also often have suburban office parks which assemble several different mid-rise buildings into a campus-like setting. While there is quite a bit more than commercial lease Milton professionals need to learn with regards to each asset type over time, having a general understanding of the different types of commercial real estate is a great place to start. PAT KAKA PAT KAKAR R Sales Representative COMMERCIAL DIVISION RE/MAX Real Estate Centre Inc, Brokerage Cell: 416-271-5784 Off: 905-878-7777 www.yourproperty.ca