Norm Ebenstein Academic Profile and Commercial Properties
Any type of commercial property is an excellent investment, especially if you know what to do and where to go. This opportunity generally offers financial rewards that you’ll reap for years, which is evident in shopping centers, rental apartments, and single-family homes.
However, there are risks, which is why you need someone who can guide you in navigating the rough waters of real estate. You can consult with experts like Norm Ebenstein that have spent a lot of years knowing more about the commercial real estate industry. Visit Norm Ebenstein – Residential Property Owner, for his academic profile and talk with the right people about your plans. With this said, here are some types of properties that you can invest in.
Types of Commercial Properties
Office buildings are categorized into two, and they are suburban and urban. The urban offices are usually high-rise properties and skyscrapers found in the metropolitan areas and the heart of the cities. They are a few million square feet in their height, requiring in-depth research and more capital.
On the other hand, suburban buildings are often grouped in a city’s office parks, and they are smaller in stature. They can consist of a single tenant or multi-tenants tend to rent them as their temporary business office. You can choose between Class A, B, and C, depending on your overall budget.
Class As is considered the premier, luxurious, and most prestigious location in town. The rent is above average, and they offer state-of-the-art amenities, high-quality finishes, and accessibility near the major roads of the metro. They have a strong presence in the marketplace as well.
Class B offices are competing for various audiences, and they target a wider range of people. They have the average rent costs in the city, and they have standard finishes. The systems are adequate, but they can’t usually compete with the luxury and exclusivity of Class A offices at the same range of price.
Class C areas are for those who require a more functional space for operation. The company owners may use these as storage areas, and the rents are below average. They are far from major roads, and medical office buildings are considered sub-sectors of this class.
Retails include stores and restaurants that many people are frequenting into. They can comprise multiple tenants where there’s an anchor that drives traffic or standalone buildings.
The retail sector is often found in many shopping centers, and they can be community centers, regional malls, and strips. They usually follow many metrics to be considered a power center. The factors that dictate them include having trade areas, tenants, number of offices, concept, and size.
Buildings with single tenants are often considered big-box shopping centers. This is evident in Best Buy, Walmart, Dick’s Sporting Goods, and Target. They are also padded sites that have banks, shopping centers, and drug stores.
If you are in a specific industry yourself, investing in buildings that house these big operations can be worth it. They may be located in an urban area that gets major transportation traffic. An industrial park can group low-rise buildings together so that tenants can share the overall cost of the rent. Some of the categories involved in industrial buildings are the following:
Flex Industrial – These are the buildings that usually contain office space and an industrial manufacturing plant. Read more about the manufacturing industry on this site here.
Bulk Warehouses – These are the larger distribution centers where online orders are grouped according to their destinations. They have accessible locations to make it easier for delivery riders to go to them.
Light Assemblies – They don’t have as much customization as the bulk warehouses, but they are still used for product assemblies. Some company owners also use them for the storage of their own products.
Heavy Manufacturing – Most companies involved in heavy manufacturing are part of the aircraft or automobile industries. They need to house heavy equipment and machinery in these types of buildings to produce goods and operate on their services faster. You may also be interested to know that a research and development facility often uses an industrial facility in its daily operations.
The multi-family sectors are real estate homes where condominiums, townhouses, apartments, and co-ops are included. These types are classified accordingly like the ones in office buildings. They have classifications in six different buckets such as:
Walk-Up – These are homes that consist of a six-story building, and they are accessible by stairs. Some real estate properties have four stories, and they don’t have elevators.
High-Rise – High-rise building development usually consists of nine or more floors. There’s at least a single elevator inside a high-rise.
Manufactured Housing Communities – This is an arrangement where the operator leases the ground side to the developers or owners of a manufactured house.
Special-Purpose Housing – This is when a multi-family property is built, and it’s usually targeting a particular segment of the population. They can be involved in housing seniors, newly-wed couples, students, or those with special needs.
Mid-Rise – These are multi-story condominiums with an elevator. It’s usually located in a metropolitan or urban area.
Garden-Styles – This is a one or three-story apartment house that has gardens. They may be in a suburban or rural location, and they don’t have elevators. Read more about garden-style properties here: https://home.howstuffworks.com/real-estate/buying-home/what-do-you-need-to-know-about-buying-a-garden-level-property.htm.
The hotel sectors have thousands of rooms, and they provide accommodation for guests. The stay includes meals and other services that maximize the experience of tourists booking at the hotel. This can be independent, or they are a part of the chain of hotels found across the world like Sheraton or Marriott. They are usually split into categories just like residential housing, and these are the following:
Resorts: Full-service resorts take up a huge amount of land, and they have attached waterparks and golf courses.
Boutiques: These are the properties located in resorts, and they are not part of a national chain. They have fewer rooms, but guests can find full-service amenities in them.
Casinos: They have gaming components like slot machines and poker available for guests.