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What Are The Types Of Real Estate?
There are 4 major types of real estate in the world, residential, commercial, industrial, and agricultural. Some others include recreational, mixed-use, and bare land.
What is residential real estate?
Residential real estate is a property that is intended to be used as a residence for one or more families. Examples of this could be houses or apartments. Those who own the actual real estate are called homeowners, whereas those paying rent to use the property are called renters.
What is commercial real estate?
Commercial real estate is the property that includes land and any building used for business purposes. A lot of retail stores use this type of space, but it can also be used to host offices or manufacturing facilities. This would include malls, strip malls, warehouses, or even office buildings. With commercial real estate, the business owns the actual real estate, and those using it rent from them.
What is industrial real estate?
Industrial real estate takes up a large portion of commercial space and includes land and any buildings geared towards use by industry. ...
... This can include warehouses to store goods or factories where goods are manufactured. As with commercial properties, commercial real estate can be owned by the company or rented by those using it.
What is agricultural real estate?
Agricultural real estate includes any land used to produce crops, livestock, fruit, etc for sale. Farmers own the actual real estate and sell the crops grown there. There are several subdivisions of this type of property, including orchards, dairy farms, and so on.
The final type of real estate is recreational real estate which can include hunting land, ranches for animals, campsites to host visitors, etc. This type of property is typically owned by a recreational company. It could also be rented out to those who wish to use it for recreational purposes.
What are some examples of recreational real estate?
Merely an example, hunting land would be classified as recreational real estate. Land used for farming or ranching animals (like cattle) could also be considered this type of property. Campsites and camps where visitors come to enjoy the outdoors would fall under this category too. This is not an all-inclusive list, but merely some examples of recreational real estate.
What are the 2 types of commercial real estate?
Commercial real estate can be broken down into two categories, retail and office space. Retail includes businesses like department stores or grocery stores while office buildings would fall under the category of office space and would include businesses like those who produce marketing materials or those who offer professional services.
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