commercial property

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Commercial property

Real estate that produces some sort of income-producing property.

Commercial Property

Real estate and improvements thereon that the local government has specifically designated for business use. Commercial property may be set aside for farming, industrial use, or professional offices. Municipalities usually group commercial property together to maintain orderliness in the city, and to prevent new developments from interfering with existing homes and businesses. For example, a city may set aside an area for commercial development so a business does not build a large factory next to personal homes. Commercial property usually has to comply with certain standards set by the municipality; for example, a building may be required to have a certain aesthetic. Commercial property may be taxed differently from other property. See also: Zoning.

commercial property

Property designed for use as offices, retail space, or wholesale, hospitality, or similar uses. Contrast with multifamily residential (apartments), residential development, or industrial property.

References in periodicals archive ?
The purchases were in 3,530 residential and 2,818 commercial properties.
The process is more complex with commercial properties, so the cost of acquisition in fees alone can be three or four times higher than those involved with houses.
This facility allows the property managers to collect rents from tenants of the respective commercial properties for which they are held responsible for.
Ms Harding-Jones, from Newport, has already brought her 15 years' experience in the property industry to bear with a number of substantial commercial properties listed for sale in the current auction catalogue The property management and valuation university graduate said: "It's a really exciting new challenge for me to work to help expand the commercial property side of Paul Fosh Auction's business.
Its auction service, in partnership with The Great North Property Auction, which uses the Modern Method of Auction, has seen six commercial properties sell.
Department of Finance - Abu Dhabi (DoF) has announced the renewal of the management agreement signed with Abu Dhabi Commercial Properties (ADCP), a subsidiary of Abu Dhabi Commercial Bank.
16, 2011 (CENS) -- Transactions of commercial properties in Taiwan may top NT$120 billion this year, a record high, according to Savills Taiwan.
There have been documented cases of commercial properties being stripped out, suffering more than pounds 150,000 of damage.
Focusing on all areas of commercial property, Mr Grove specialises in acting for clients dealing in large residential portfolios and developers of both residential and commercial properties.
Mr Dugdale, who is based at Cornerstone's offices in Wakefield Road, Denby Dale, said: "We have predominantly dealt with residential property, but we have frequently dealt with local business people selling commercial properties.
But Envos warns that 90% of the commercial properties owned by the people it has spoken to still don't have an EPC and aren't in the process of getting one.

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