LITMIR.BIZ

      Apartment complexes: Apartment buildings with five units or more are classified as commercial property. This type of property runs the range from small buildings with a few units to large complexes with hundreds of units.

      Office buildings: Suburban office buildings are relatively small compared with large office buildings in downtown areas. Since the mid-1990s, a number of condominium office buildings have been constructed, and some rental office buildings have been converted to office condos.

      Shopping centers: This refers to a collection of retail stores, either in an enclosed complex or side by side in a shopping mall. Many shopping centers have national chain tenants such as department stores, restaurants, electronics firms, sporting goods outlets, and supermarkets.

      Retail strip stores: These are stores that sit among a lineup of other retail outlets, usually on a busy front street in a neighborhood or a downtown. A retail strip store is a space that may be used as a beauty salon, a florist shop, a luncheonette, or a shoe repair store, to name only a few possible options. Small shopping centers can also be considered retail strip stores.

      Industrial properties: This real estate category includes flex space, which is a combination of office and warehouse facilities, and small bay warehouses. Factories and large distribution warehouses are also industrial properties.

      Parking garages: Although municipalities and counties own some parking facilities, others are built and owned by private developers who recognize the need for parking in bustling areas.

      Mobile home parks: These combine real estate and personal property. The land is real estate, but the mobile homes are personal property. Operating a mobile home park is a business, so, overall, it's a hybrid property.

      Hotels and motels: These are hybrid types of properties because they combine real estate together with running a business.