GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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50% - Moderately

Commercial Property


Synonyms:business property, corporate real estate, industrial land
Filed Under: financial-banking, real-estate
Tags: banking, realty
 

Definition of commercial property

commercial property
1. A parcel of land in a district that is zoned strictly for business.

Related Terms and Acronyms:

  • capitalization   An estimate of the value of a rental or commercial property using the rate of return on investment and the property's annual net operating income.
  • capitalization rate   An estimated percentage rate of return that a property will produce on the owner's investment.
  • commercial property floater   Insurance that provides coverage for property that is not fixed to one single location.
  • condominium (condo)   A structure of two or more housing units. The interior space of the units are individually owned. The balance of the property (land, building and other amenities) is owned in common by the owners of the individual units.
  • key lot   A lot of which ownership is essential in acquiring a piece of land for development, either because of its strategic location or the timing of the acquisition.
  • proprietor   The owner of a business or property.
  • useful life   The number of years depreciable business property is expected to be productive and in use.

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