When you’re talking about commercial real estate, you’re speaking about a very broad amount of properties. Commercial real estate is a term that means any property which is used in a direction that will allow some type of income. This could be renting, businesses and even farm land. Here at the Mindful Capital Group, we are proud to offer our extensive knowledge of all matters of the real estate market to our clients.
What are the Different Types of Property?
As said before, commercial real estate is a term that encompasses almost all types of business. Below, we’ll list some of the most common types of commercial real estate and some notes about each one.
- Self-Storage / Warehouses – Storage spaces are one of the most sought-after types of property on the market right now. With social distancing requirements becoming mandatory in many areas around the country, the need for extra storage space for equipment and other personal needs.
- Retail – Retail commercial real estate is a loose term the encompasses many variables. This could be a local convenience store to a gigantic mall. This type of property is profitable based off of the stores leasing terms within.
- Multifamily – Multifamily properties include any property that is being leased or rented for a profit. Examples of multifamily commercial real estate would be housing developments, apartments or any property with five or more units.
- Mobile Park Homes – Mobile park homes are a very unique type of property. Due to the costs being low, tenants are less likely to leave and much easier to replace. However, some of these areas will require maintenance due to improper care.
These are a few of the different types of commercial real estate properties. Each one has its own benefits when trying to produce profits in a rollercoaster of a market. Currently, warehouses and self-storage spaces are being sought-after like never before. If you need help from an experience group of real estate agents, then contact the Mindful Capital Group as soon as possible!