Real estate Learning the basics
So, what kind of property is considered commercial real estate? This kind of real estate is the kind that is zoned for business. One example is a property zoned to allow the building of a strip mall on it. It can be vacant land that has been set aside and zoned by the city to allow a business to be built on it. It may even be a piece of property with a place of residence now standing on it. What happens is that the town may begin to encroach on residential property and then the property may be rezoned to allow it to be reclassified as commercial real estate now.