For those pursuing commercial real estate for the first time, we understand that there’s a lot of information you need to keep straight in order to be successful in the South Shore area. From understanding Net Operating Income and Debt Coverage Ratio, to Capitalization Rate and Cash Return — there are a lot of Real estate terms that you’ll need to understand. However, one of the most important concepts to grasp is building classification.
No matter whether you’re looking for commercial Real estate in the Boston area or across the country, every commercial building or property will be classified according to it’s intended purpose and building type. Classifying commercial property helps potential buyers differentiate buildings as well as assists with the reporting of overall market data. At Quinn & Associates, we have a variety of different commercial buildings that fall under various building classifications because we believe it’s important to give our clients options. Below is an in-depth look at the 4 types of building classifications.
During your evaluation of any property, don’t forget to make sure the property is correctly classified for the area it’s located in. As professional commercial Realtors in the South Shore area, we’re here to help you determine which building classification is best for your needs. If you are a first-time purchaser or tenant of a commercial building, then we highly recommend steering clear of Class D or Class D properties as they will require renovations and repair work.