All About Commercial Property
A commercial property is a land or building that creates income for the owner either on its sale or it being leased or rented out. Commercial property includes any buildings like office buildings, shopping malls, apartments, garages, industrial property etc., or unconstructed land like vast farm lands or vacant lands in the heart of the city that the developers have not yet constructed. The term ‘real estate’ is a related term to commercial property in London which also means the same. There are four categories under commercial real estate, Retail, Office, Industrial and Multifamily. Under retail we have shopping centers, malls, hotels, retail stores, public house, medical center and many more. Office buildings under the office category. Warehouse, garage, industrial property and distribution center under industrial category. Multifamily housing buildings or apartments under the multifamily category. Multifamily apartments come under Residential Income property too. But in some states these multifamily apartments which have individual units more than a certain number are classified under commercial property for borrowing and tax purposes. Properties in some of the greatest cities of the world like commercial property in London, has skyrocketing prices. But the commercial property London has a unique charm of its own that cannot be replaced or erased.
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