Real Estate Types

Retail

A commercial real estate is used as a business or retail location. Grocery stores, banks, office buildings, gas stations, restaurants, shopping centers and convenience stores that are involved in real estate disputes can each face issues of restrictions on ingress and egress when changes are made to access to a commercial site.

Residential

When it comes to a residential real estate, there are three main types: single-family, multi-family, and condominiums.  A single-family house is a building that stands alone, is not attached to other buildings, and its primary use is as a residence. Most people live in this type of home.

Multi-Family

Other types of residential real estates include multi-family residences, which are buildings that are attached to each other, such as duplexes, with multiple units used as residences.  These types of homes are common in more urban, heavily-populated areas.  A condominium is one unit of a larger group of residential units in a building or designated area in which each owner owns his or her individual unit, and all the condominium owners in the building or area share ownership of common areas.  “Condo” towers are becoming more popular in downtown areas of many big cities as younger generations prefer a more walkable lifestyle in their daily commutes and after-work activities than their parents.  Condo owners can confront real property disputes involving common areas for which they need legal assistance.

Agricultural

An agricultural real estate has facilities used for the growing and production of crops, livestock, poultry or horticultural products and timber.  In the Midwest, this type of real estate is very common.

Industrial

An industrial real estate has facilities used for the manufacture of a product from other products, the transformation of a material from one form to another, mining of a material and related mine activities or storage of a product or material.

Special Use

Special use properties have a limited or specialized use and, as a result, they are more difficult to appraise.  Examples of special use properties are churches, schools, cemeteries, marinas and boat slips.

Billboards

Changes to real estate due to takings sometimes require that billboards and other advertising signs located along interstates or other heavily-traveled roadways be relocated or cause them to be eliminated altogether.

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