Prescott Valley Arizona Real Estate Home Buyers Center.

Classes of Prescott Real Estate (residential, commercial, agricultural, industrial and special purpose)

September 16th, 2006

In a previous article, we discussed the characterists of Prescott Arizona real estate. As we learned, there are both physical (immobility, nonhomogeniety and indestructibility) and economic (scarcity, area of preference, permanence of investment and modification) characterists.

In this article, let’s discuss the five basic classes of real estate in Prescott Arizona. For more information you can visit the Arizona Real Estate Website.

Classes of Prescott Arizona Real Estate

• Prescott Arizona Residential Real Estate - this refers to single-family homes and residences, condominiums, cooperatives, duplexes, triplexes, town homes, apartments, and mobile homes. Residential real estate in Prescott can also refer to homes used for vacationing and homes that are used for retirement housing.
• Prescott Arizona Commercial Real Estate - this refers to real estate that is used for retail purpose and other types of business such as shopping centers, and shopping malls, office buildings, restaurants, auto dealerships, saloons, movie theaters, and even parking lots.
• Prescott Arizona Agricultural Real Estate - this classification refers to real estate that is used for farming, timberland, ranches, orchards, and hatcheries.
• Prescott Arizona Industrial Real Estate - this refers to building that serve purposes such as that of a warehouse, factories, manufactoring facilities, and research and development.
• Prescott Arizona Special Purpose Real Estate - there are properties that do not fit under the classification of the other four types of Prescott real estate. When this is the case, this type of property is refered to as special purpose real estate. Examples of this type of classification would include churches, government land, medical / hospital facilities and schools and educational facilities.

Entry Filed under: Prescott Arizona AZ Real Estate Market