Resources for our agents!

NEED A COMMERCIAL AGENT TO PARTNER WITH?

It is much more efficient to partner with a commercial expert than to try to understand a whole side of real estate that you don't have any experience with. Meet our friend, Chase Keller, from RE/MAX CONCEPTS who is a certified CCIM. A CCIM is a Certified Commercial Investment Member. For more than 50 years, the CCIM Designation remains the gold standard for commercial real estate professionals, including appraisers, asset managers, brokers, developers, investors, lenders, and other allied professionals. CCIMs complete a rigorous program of advanced coursework and training in financial and market analysis and demonstrate extensive experience in the commercial real estate industry.

C O M M E R C I A L

Commercial real estate includes any real estate that is used for commercial purposes (such as retail, hospitals, etc.) not for residential or industrial purposes. Commercial real estate is considered a more stable investment than other types of real estate due to the lease lengths, which are often several years or more.

Commercial real estate is real estate used for commerce (or commercial purposes), while residential real estate is used for living and industrial is used for manufacturing and producing goods. Commercial real estate includes office buildings, hospitals, retail space, and land.

There are also multi-use commercial buildings which combine two types of commercial real estate, such as a restaurant in an office building.

Most commercial real estate is expensive and requires more investors than would normally invest in residential real estate, such as a single-family house.

Single-Net Lease

A single-net lease is where the tenant is responsible for paying property taxes on top of their rent for that building. The landlord covers the repairs, maintenance, insurance, etc.

Double-Net (NN) Lease

A double-net (NN) lease mandates that the tenant pay property taxes and insurance, as well as their rent. The landlord covers the repairs and maintenance.

Triple-Net (NNN) Lease

A triple-net (NNN) lease requires the tenant pay the property taxes, insurance, and maintenance for the property.

Gross Lease

A gross lease is where the tenant is only responsible for the rent of the property, while the landlord maintains the property and pays taxes and insurance.

Class A Real Estate

A Class A building means the property is in a prime location, is upkept and updated with quality materials, and often has personnel on staff to maintain the property and attend to the renter’s guests/customers. These properties are usually the cream-of-the-crop—with the price tag to match.

Class B Real Estate

A Class B building means the property is a bit older and more out of date. They are usually more affordable and are often sought after by investors to update.

Class C Real Estate

Class C buildings are the oldest (20 years or older) buildings, and they are typically in the shabbier parts of towns and are in disrepair. Investors often shy away from these buildings due to the nature of the repairs as well as the location they are in.

Chase Keller 

CCIM Commercial Agent

(319) 231-1160

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COMMERCIAL  DEFINITIONS