Different types of real estate properties including residential, commercial, industrial, and land investments.
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Foundation terms you need to know first (60 terms)
Development costs are all the expenses incurred during the process of acquiring land, designing, constructing, and preparing a real estate project for use or sale, from start to finish.
An office building is a commercial property designed for businesses to conduct administrative, professional, or commercial operations, offering spaces for work and meetings.
A retail center is a commercial property designed for various retail businesses, ranging from small strip malls to large shopping centers, providing goods and services to consumers.
An industrial warehouse is a large commercial building used for storing, manufacturing, or distributing goods and materials, serving as a critical link in the supply chain for various industries.
Real assets are physical, tangible investments such as real estate, commodities, and infrastructure, valued for their intrinsic properties and often used as an inflation hedge and portfolio diversifier.
Complex strategies and professional concepts (12 terms)
Build-to-Rent (BTR) refers to residential communities, typically single-family homes or townhouses, that are purpose-built by developers specifically for rental rather than for sale, offering a professionally managed, amenity-rich living experience.
Brownfield redevelopment involves the acquisition, remediation, and revitalization of properties that are contaminated or perceived to be contaminated, often due to past industrial or commercial use. It transforms environmentally challenged sites into productive assets, contributing to urban renewal and sustainable development.
Land improvements are depreciable additions to land that enhance its utility and value but are separate from the land itself. These assets, such as fences, driveways, and utility systems, have a limited useful life and are subject to specific accounting and tax treatments.
Held for Sale Classification is an accounting designation for non-current assets or disposal groups whose carrying amount will be recovered primarily through a sale transaction rather than through continuing use, requiring specific criteria to be met under GAAP and IFRS.
An STR Pro Forma is a detailed financial projection and analysis tool used to evaluate the potential profitability and performance of a short-term rental property, incorporating dynamic pricing, seasonal occupancy, and higher variable operating expenses.
A Property Disclosure Statement is a legal document provided by a seller to a buyer, detailing known material defects and conditions of a property. It is a crucial component of real estate transactions, ensuring transparency and aiding buyer due diligence.
A Property Identification Number (PIN) is a unique numerical code assigned to each parcel of land by local government agencies, primarily for property tax assessment and record-keeping purposes.
Property rights are the legal entitlements defining how individuals or entities can own, use, transfer, and dispose of real estate, forming the bedrock of all property transactions and investments.
A property setback is the minimum required distance between a building or structure and the property line, enforced by local zoning ordinances to regulate land use and ensure adequate space and safety.
A property survey is a detailed map or drawing created by a licensed surveyor, accurately depicting property boundaries, dimensions, and the location of improvements, easements, and other features. It is a critical legal document for understanding and protecting real estate investments.
A property type refers to the classification of real estate based on its use, characteristics, and legal definitions, which significantly impacts investment strategy, financing, and potential returns.
Property types classify real estate based on use (residential, commercial, industrial, land), guiding investment strategies, financing, and market analysis for investors.
Property valuation methods are systematic approaches used to estimate the fair market value of real estate, crucial for investment, financing, and taxation decisions. They include the Sales Comparison, Income Capitalization, and Cost Approaches.
Property value is the estimated monetary worth of a real estate asset, determined by various factors including market conditions, location, and physical characteristics. It is a critical metric for investment analysis, financing, and taxation.
Public use is the legal justification for the government to exercise its power of eminent domain, allowing it to acquire private property for projects that serve the general public, even if the property owner does not wish to sell.
Raw land is undeveloped property that lacks structures, utilities, or other improvements, often purchased for future development or long-term appreciation.
Real assets are physical, tangible investments such as real estate, commodities, and infrastructure, valued for their intrinsic properties and often used as an inflation hedge and portfolio diversifier.
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