Commercial real estate refers to properties that are primarily used for business or income-generating purposes rather than personal residence. It encompasses a wide range of properties, including office buildings, retail stores, industrial warehouses, hotels, and multi-unit apartment buildings.
Commercial real estate is typically bought, leased, or sold by businesses, investors, or real estate developers to generate revenue through rental income, capital appreciation, or a combination of both. It often involves more complex transactions, higher investment amounts, and specialized knowledge compared to residential real estate. The value of commercial real estate is influenced by factors such as location, market demand, rental rates, and the overall economic conditions of a given area.