This form provides a buyer with an exclusive and irrevocable option to purchase residential real estate, specifically a commercial building.
District of Columbia Option For the Sale and Purchase of Real Estate - Commercial Building
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Commercial property is real estate that is used for business activities. Commercial property usually refers to buildings that house businesses, but can also refer to land used to generate a profit, as well as large residential rental properties.
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Commercial buildings are buildings that are used for commercial purposes, and include office buildings, warehouses, and retail buildings (e.g. convenience stores, 'big box' stores, and shopping malls).
In its broadest sense therefore, commercial property (or commercial buildings or commercial premises) typically refers to property or buildings that accommodates activities intended to make a profit. This might include shops for example.
Commercial properties are usually purchased with the intent to generate income or set up commercial space. Commercial property includes office buildings, industrial property, medical center, retail stores, hotels, hostels, schools, warehouses, etc.
While residential properties are exclusively used for private living quarters, commercial refers to any property used for business activities.
In short, commercial space and retail space are, in fact, two different things. Commercial space generally refers to office space. With commercial space, there may not be as many people wandering in and out, whereas retail space depends largely on foot traffic.
Commercial property is real estate that is used for business activities. Commercial property usually refers to buildings that house businesses, but can also refer to land used to generate a profit, as well as large residential rental properties.
Terms in this set (6)Residential. All property used for single-family or multi family housing weather in urban, suburban or rural area.Commercial. Business property, including office space, shopping centers, stores, theaters, hotels, and parking faculties.Mixed use.Industrial.Agriculture.Special purpose.