• Shawn

Types of Commercial Property

So, you have made the decision to venture into the world of Commercial Real Estate either as an owner, investor or broker. The options out there are many, think about how many different types of buildings you see on your morning commute. Don’t be overawed, this is what opportunity looks like! The many types of commercial properties mean there are multiple opportunities to find the right property for your business or client.


Although official classification varies from county to county, in the Triangle Area we generally deal with four primary types of commercial properties:


- Office - Industrial - Retail - Apartments


There are also some unique classes of commercial buildings that are not included within these categories; schools, churches, hotels, and retirement homes. Before I hear comments like; “Where is land?” “Why do you hate land?” Land can be classed depending on its end use, residential or commercial, so can be included in one of the previously listed categories.



To make things a little more complicated each type of commercial property has many kinds of buildings and building uses:


Office

  • Highrise or Lowrise (Metlife Building, Cary, Red Hat Tower, Raleigh)

  • Professional (Olive Chapel Professional Park, Apex)

  • Medical (Any UNC, Duke, Avance complex)

  • Office Condo (Wren Square, Cary)

Industrial

  • Warehouses, distribution centers (think Amazon, Garner)

  • Factories (rare in the Triangle but often re-purposed, Golden Belt Durham)

  • Manufacturing Plants (Amatek, Knightdale or Magnetti Marelli, Sanford)

  • Research and Development (basically all of RTP!)

Retail

  • Free-standing Store (Academy, Apex)

  • Strip Centers (up and down Capital Boulevard, Raleigh)

  • Shopping Centers – Malls (Crabtree Valley, The Streets at Southpoint)

  • Outlet Centers (Carolina Premium Outlets, Smithfield)

Apartment

  • Multifamily houses (Duplexes, Quadraplexes)

  • Apartment Buildings (401 Oberlin, Cameron Village)

  • Mixed-Use Buildings (Fenton Development, Cary)

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