What Are the Most Common Types of Commercial Property?
The definition of commercial property is a property intended to be used to generate profit for the tenant. Essentially, commercial properties are businesses. Below is a complete list of the most common types and subcategories of commercial properties.
Industrial buildings boast large square footage and are typically used for storage and shipment. They will tend to have loading docks for their vehicles and feature a large, flat roof.
- Manufacturing plants are facilities that produce materials and goods. They tend to be highly industrialized. Factories are an excellent example of manufacturing facilities.
- Warehouses are simply used for storing and distributing goods. They tend to be incredibly large and open, to allow for tall-standing racks to store goods.
- Flex buildings are a combination of industrial and office space. These buildings typically feature more office space than storage space.
Practically every person has stepped foot into a retail building. These are the properties that directly sell services or goods to customers. Retail buildings will typically have ample parking and sidewalks, while larger-scale properties will have more means of transportation.
- Malls are the mecca of retail properties. They are some of the largest retail properties. Typically enclosed space, consisting of a vast amount of outlets, such as clothing stores, department stores, food courts, and various entertainment centers.
- Like malls, shopping centers offer a wide variety of options for retail outlets. However, unlike shopping malls, they are not enclosed. The most common types of shopping centers are strip malls and plazas. Larger scale ones are commonly found in the suburbs. They commonly combine restaurants, big-box retailers, and other general or smaller stores in one central location.
- Pad sites are standalone buildings that are commonly scattered around shopping centers. These are most often fast-food chain restaurants, gas stations, banks, or other restaurants.
Commercial office buildings are designed to be used by professional services. Tech/marketing firms, doctor and dental offices, and other professional services all can occupy the same spaces. Office buildings are generally very diverse and tend to be multiple levels tall.
There are many different types of commercial property that you can invest in, and it is not fully limited to this list. Churches, airports, casinos, and even schools, are categorized as special and multi use-buildings. If you’re interested in investing in any commercial property, hiring a commercial inspector is highly crucial when evaluating the best use of a property.