Property Types In Real Estate

Summary

In this informative video, Trevor discusses the various types of properties in real estate, categorizing them into residential and commercial segments. Residential properties include single-family homes and small multifamily units, typically financed with residential loans. In contrast, commercial properties encompass multifamily buildings, office spaces, retail locations, hospitality venues, industrial sites, recreational facilities, institutional properties, and mixed-use developments. Trevor highlights the unique financing and usage characteristics of each property type, providing a comprehensive overview for viewers interested in real estate investment and classification.

Takeaways

• 🏠 Residential properties include single-family homes, small multifamily homes, and condominiums.
• 🏢 Commercial properties are divided into multiple types, including multifamily, office, retail, hospitality, industrial, recreational, institutional, and mixed-use.
• 💡 Single-family homes are the most common type of residential property and can be detached or attached.
• 🏘️ Small multifamily properties, such as duplexes and triplexes, are financed with residential loans, distinguishing them from commercial properties.
• 📈 Commercial multifamily properties encompass garden apartments, low-rise, mid-rise, and high-rise buildings, typically financed through commercial loans.
• 🩺 Office buildings can be specialized for specific uses, such as medical or dental offices, and may not always serve the general public.
• 🛍️ Retail properties include various formats like shopping centers and malls, specifically designed for retailers to interact with consumers.
• 🏨 Hospitality properties range from large hotels to motels and full-service resorts, catering to tourists and travelers.
• 🏭 Industrial properties cover both heavy and light industrial uses, including manufacturing and warehousing operations.
• ⛳ Recreational properties, such as sports complexes and golf courses, provide spaces for leisure and recreation.
• 🏛️ Institutional or special-purpose properties include government buildings, hospitals, and universities, serving specific community functions.
• 🏙️ Mixed-use properties combine residential and commercial elements, often found in urban areas, enhancing community living and convenience.

Q & A

What are the two primary categories of property types in real estate?

The two primary categories are residential and commercial properties.

What types of properties are classified as residential?

Residential properties include single-family homes, small multifamily homes like duplexes, triplexes, and four-plexes.

What distinguishes residential properties from commercial properties in terms of financing?

Residential properties are financed with residential loans, while commercial properties are financed with commercial loans, which involve different underwriting processes.

Can you give examples of commercial multifamily properties?

Examples of commercial multifamily properties include garden apartments, low-rise, mid-rise, and high-rise apartments.

What types of properties fall under the category of office buildings?

Office buildings can include single-tenant and multi-tenant properties, as well as specialty offices such as medical and dental offices.

What are some examples of retail properties?

Retail properties include shopping centers, shopping malls, strip malls, and regional centers designed for retailers.

What does the hospitality category in commercial real estate encompass?

The hospitality category includes large hotels, extended-stay centers, small motels, full-service resorts, and tourist properties.

What types of facilities are classified as industrial properties?

Industrial properties range from heavy industrial sites like oil refineries and steel mills to light industrial facilities such as machine shops and warehouses.

What constitutes recreational properties?

Recreational properties include stadiums, marinas, sports complexes, golf courses, and country clubs, where people typically engage in leisure activities.

What are mixed-use properties, and where are they commonly found?

Mixed-use properties combine different commercial types and are commonly found in urban areas, such as buildings with retail spaces on the ground floor and offices or apartments above.