Costa Rica Commercial Real Estate Definition

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This article provides a definition of Costa Rica commercial real estate for our readers, members, writers, reporters and clients.  It starts with generally accepted definitions and then what our current policy is regarding inclusion in our commercial real estate section.

Outside Definitions

The term commercial property (also called investment or income property) refers to buildings or land intended to generate a profit, either from capital gain or rental income. en.wikipedia.org/wiki/Commercial_real_estate

http://useconomy.about.com/od/glossary/g/commercial_real.htm

... any property owned to produce income. In its broadest definition, it includes apartment complexes and industrial real estate. Commercial real estate is commonly thought of as shopping centers, office buildings, and hotels. It also includes medical and educational buildings. It includes vacant land that will eventually be leased, or built upon for buildings to be leased.

It is not residential real estate, which is property used to live in. Depending on the source, data about apartment complexes can be lumped into reports on residential real estate.

Industrial real estate is property used to manufacture a product. Sometimes data about industrial real estate is categorized separately.

http://financial-dictionary.thefreedictionary.com/commercial+property

Commercial Property

Real estate and improvements thereon that the local government has specifically designated for business use. Commercial property may be set aside for farming, industrial use, or professional offices. Municipalities usually group commercial property together to maintain orderliness in the city, and to prevent new developments from interfering with existing homes and businesses. For example, a city may set aside an area for commercial development so a business does not build a large factory next to personal homes. Commercial property usually has to comply with certain standards set by the municipality; for example, a building may be required to have a certain aesthetic. Commercial property may be taxed differently from other property.

Farlex Financial Dictionary. © 2009 Farlex, Inc. All Rights Reserved

commercial property

Property designed for use as offices, retail space, or wholesale, hospitality, or similar uses. Contrast with multifamily residential (apartments), residential development, or industrial property.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.

Costa Rica Commercial Real Estate Definitions on Fijatevos.com

Investment property - Buildings or land intended to generate a profit from either rental income or capital gains.  Or from development of property resulting in profits.  This could include residential properties, when viewed from a builder's or developer's perspective.

Commercial Real Estate - Property intended for the use of business enterprises. Offices, retail space, warehouses, hospitality, tourism, educational buildings, agricultural business property and industrial property. Property in Costa Rica's Duty Free Trade Zones is by definition commercial real estate (limited to use of qualifying businesses).

Businesses (or Business Concerns) - This is a mixed category intended to include businesses for sale, that may or may not be tied to a particular property.  This could be property in the maritime zone, like a single family vacation or long term rental, which for our purposes would be categorized as residential real estate used as an investment. Or a catering business, which may or may not have facilities but would not be tied to a particular facility and whose clientèle and personnel would be more vital or valuable. An export / manufacturing concern could be a business concern, or could be commercial real estate.   If it is tied to a particular community or location, or if the location or equipment is such that it would not be feasible to relocate it, then it would probably be commercial real estate. (like a quarry or the baseball factory in Turrialba)  If the people and products are more important than the facilities or equipment, then it would be a business or business concern.

As of February 2011, Fijatevos.com is open for partnerships, sponsorships and advertising in our commercial real estate section.  At this point in time we are not working with other real estate brokers or agents, either as partners or advertisers. This includes residential leasing agents or sales agents.  Also beach developments or "raw land" developers are excluded.  We would consider advertising from residential developers with a track record in Costa Rica.  Or rentals by owners.

If you are a commercial broker or agent and would like to participate in the development of our commercial real estate section, please contact us http://fijatevos.com/contact-us.html  for more information and requirements.