Classification of commercial real estate: types of objects and their characteristics
The real estate market has two types – commercial and residential facilities. The first are used for business purposes and have a number of differences from residential and industrial premises. The classification of commercial real estate is diverse, but its main purpose is to serve as a place for sale of certain products and services.
It should not be forgotten that the number of businesses includes two links – production and sale of products, which takes place in one room. Therefore, it is impossible to consider commercial objects only as stores or retail outlets.
This type of real estate is classified by the purposes for which it is used, for example:
- projects for office purposes;
- for trading processes;
- for cultural and entertainment events;
- public catering facilities;
- for household services;
- hotel facilities;
- leisure and wellness facilities;
- warehouses and garages.
These objects also include non-residential areas, the functionality of which is not precisely defined, but they can be used for one of the designated purposes.
Any of these options are subject to a more precise classification.
Selection of commercial objects is based on several main criteria: location, area of the premises, its quality characteristics and price.
The office type of real estate is used for management and business activities. This group also includes premises intended for conferences, business meetings, presentations, banks, business centers.
Other variants of classification of commercial real estate are the factors of its target purpose, location of the building, features of its construction and architecture. Such characteristics as infrastructure, parking and life management systems of the building can also be included.
If earlier the location determined the class of the building – the closer to the central districts of the city, the more premium premises, now this dependence is relegated to the background. New office centers, built with the latest technologies, are also located in remote areas, but have a high class. More important is the characteristic of transport accessibility – convenient entrances to the building and transport hubs.
Commercial real estate is used for sales-related operations. Kiosks, stores, car dealerships, shopping centers and pharmacies belong to this type of facilities. In addition to the selection criteria inherent in office real estate, it also pays attention to the convenience of placing the range of goods and customers.
Before looking for a room for business purposes, it is worth clearly stipulating what functions the object should perform. Also take into account the age of the building, its original purpose. It is not a secret that many buildings have been redesigned to attract tenants, and not always the work was carried out with safety and convenience for commercial activity.