Types of Real Estate
Residential real estate: Any property used for residential purposes. Examples include single-family homes, condos, cooperatives, duplexes, townhouses, and multifamily residences with fewer than five individual units.
Commercial real estate: Any property used exclusively for business purposes, such as apartment complexes, gas stations, grocery stores, hospitals, hotels, offices, parking facilities, restaurants, shopping centers, stores, and theaters.
Industrial real estate: Any property used for manufacturing, production, distribution, storage, and research and development. Examples include factories, power plants, and warehouses.
Land: Includes undeveloped property, vacant land, and agricultural land (farms, orchards, ranches, and timberland).
Special purpose: Property used by the public, such as cemeteries, government buildings, libraries, parks, places of worship, and schools.