Commercial Real Estate

Commercial property, also called commercial real estate, investment property or income property, is real estate (buildings or land) intended to generate a profit, either from capital gains or rental income.

Commercial property includes office buildings, medical centers, hotels, malls, retail stores, multifamily housing buildings, farmland, warehouses, and garages. In many states, residential property containing more than a certain number of units qualifies as commercial property for borrowing and tax purposes.

Real Estate Statistics

Average Price $599K
Lowest Price $50K
Highest Price $9M
Total Listings 731
Avg. Days On Market 211
Avg. Price/SQFT $162

Property Types (active listings)


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Check out this Northern Michigan Commerical Real Estate video or click here to learn more about Northern Michigan Commerical Real Estate

northern Michigan Commercial Real Estate For Sale

Commercial real estate is a property that is used solely for business-related purposes. It can also be used to provide a workspace, as opposed to a living space, which would instead be considered residential real estate. Most often, commercial real estate is leased to tenants to conduct income-generating activities. This broad category of real estate can include everything from a single storefront to a huge shopping center.

 

What is the definition of a commercial real estate loan?

Commercial real estate loans are made by banks and independent lenders in the same way that home mortgages are. Commercial real estate is also financed by insurance companies, pension funds, private investors, and other sources, including the US Small Business Administration's 504 Loan program.

We'll look at commercial real estate loans, how they differ from residential loans, what lenders look for, and how to get one.

Commercial Real Estate Frequently Asked Questions

  1. What are examples of commercial real estate?
    Office buildings, medical centers, hotels, malls, retail stores, multifamily housing projects, farmland, warehouses, and garages are examples of commercial property. For borrowing and tax reasons, a residential property with more than a specified number of units qualifies as commercial property in several jurisdictions.

  2. What pays more commercial or residential?
    Because commercial real estate agents often make greater average incomes than residential real estate agents, choosing between the two specializations can mean a significant financial difference. As a result, you'll want to think about your financial requirements.

  3. What is commercial use in real estate?
    Commercial real estate island that is used for business purposes. Commercial property typically refers to buildings that house businesses, but it can also refer to land that is utilized to create revenue or huge residential rental homes.
  4. What's the difference between residential and commercial property?
    Residential properties are utilized solely for individual living quarters, whilst commercial properties are used for business purposes. Hospitals, assembly facilities, storage warehouses, shopping centers, office spaces, and any other place for a company activity are all considered commercial.

Focused on Northern Michigan Commercial Real Estate

Brook is focused on commercial real estate as most investors want a solid financial investment. While the area does have many good realtors, there aren’t many with as unique of financial, commercial real estate, and technology marketing backgrounds. Brook uses his diverse skill set to help clients properly evaluate and determine whether a northern Michigan commercial property makes financial sense.

"I have significant experience buying and selling Northern Michigan commercial real estate and I'd like to help you find the perfect investment. Send me a message or give me a call at (231) 459-4257 to learn more today."

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