Property Glossary

The property industry is a list of different types of commercial and real estates for sale and rent.

Classification. Buildings are classified into three classes. Class A, Class B​ ​and Class ​C.​ ​Class A buildings are considered the best of the best in terms of construction and location. Class B properties might have high quality construction, but with a less desirable location. And Class C is basically everything else.

Central Business District (CBD). Office buildings located in the central business district are in the heart of a larger city.

Suburban office buildings. This classification of office space generally includes mid rise structures of square feet located outside of a city center.

Industrial Properties

Heavy manufacturing property. This category of industrial property is really a special use category that most large manufacturer’s would fall under.

Light Assembly property. These structures are much simpler than the above heavy manufacturing properties, and usually can be easily reconfigured. Typical uses include storage, product assembly, and office space.

Flex warehouse property. Flex space is industrial property that can be easily converted and normally includes a mix of both industrial and office space.

Bulk Warehouse property. These properties are very large, normally in the range of square feet. Often these properties are used for regional distribution of products and require easy access by trucks entering and exiting highway systems.

Retail properties

Strip Center. Strip centers are smaller retail properties that may or may not contain anchor tenants. An anchor tenant is simply a larger retail tenant which usually serves to draw customers into the property.

Community Retail Center. Community retail centers are normally in the range of square feet. Multiple anchors occupy community centers, such as grocery stores and drug stores.

Power Center. A power center generally has several smaller, inline retail stores, but is distinguished by the presence of a few major box retailers.

Regional Mall. Malls range from 400,000-2,000,000 square feet and generally have a handful of anchor tenants such as department stores or big box retailers like Barnes & Noble or Best Buy.

Out parcel. Most larger retail centers contain one or more out parcels, which are parcels of land set aside for individual tenants such as fast-food restaurants or banks.

Multifamily properties

Garden Apartments. Suburban garden apartments are suburb ​g​
garden apartments typically 3-4 stories with 50-400 units, no elevators, and surface parking.

Mid-rise Apartments. These properties are usually 5-9 stories, with between 30-110 units, and elevator service.

Highrise Apartments Highrise apartments are found in larger markets, usually have 100+ units, and are professionally managed.

Hotel properties

Full service hotels. Full service hotels are usually located in central business districts or tourist areas, and include the big name flags​.​

Limited service hotels. Hotels in the limited service category are usually boutique properties. These hotels are smaller and don’t normally provide amenities​.​

Extended stay hotels. These hotels have larger rooms, small kitchens, and are designed for people staying a week or more.

Land properties

Greenfield Land. Greenfield land refers to undeveloped land such as a farm or pasture.

Infill Land. Infill land is located in a city has usually already been developed, but is now vacant.

Brownfield Land. Brown fields are parcels of land previously used for industrial or commercial purposes, but are now available for re-use. These properties are generally environmentally impaired.

Special-Purpose​ properties

special purpose commercial real estate include self-storage, car washes, theme parks, bowling alleys, marinas, theaters, funeral homes, community centers, nursing homes, and churches.

Bungalow​​. a low house, with a broad front porch, having either no upper floor or upper rooms set in the roof, typically with dormer windows.

An apartment​. Is a self-contained housing unit,a type of residential real estate, that occupies only part of a building.