Different Types of Commercial Property
September 25th, 2007 Posted in GeneralThere are quite a few options open to you if you are thinking about buying different types of commercial properties and they broadly include land, apartments, special purpose properties, office buildings and shopping and retail centers. So, before you invest your money in commercial property you should know a little bit about each different type of commercial property.
Some people may buy raw land such as agricultural land that is situated in close proximity of land that is commercially zoned because the price would be just some thousand dollars per acre. The reason is that such land could be re-zoned to become commercial in the not too distant future and prices would then touch hundreds of thousand dollars per acre.
Another type of commercial property that is much in demand is apartments though because of high turnover of tenants and greater numbers of late rental payments this is not an ideal investment option to invest in.
A better option would be to buy special purpose properties that are specially designed for certain businesses including for hotels and motels, gas stations as well as restaurants. These commercial property types are well suited for investing in.
Another option is office buildings which are usually single or even multi-storied buildings and also medical buildings which can be leased out to doctors and also dentists. Finally, you may want to consider another type of commercial property which is retail and shopping centers which generally are three storied buildings that may be let out to various types of tenants and this type of commercial property is very hot and always in demand.
