Ch 5 Types of Real Estate

Question 1

7 types of Real Estate

Answer 1

Residential
Commercial & Investment
Industrial
Agricultural
Recreational
Special Purpose
Public

Question 2

Residential

Answer 2

Composed of single- family homes but can include smaller multi-family units.

Question 3

Commercial & Investment

Answer 3

includes income producing property such as large apartment buildings, office , restaurants, shopping centers, parking lots as well as vacant lots and tracts of land suitable and available for construction of commercial and investments improvements.

Question 4

Industrial

Answer 4

Includes warehouses, plants, factories, utilities, mines, etc. as well as lands suitable and available for construction of industrial improvements

Question 5

Agricultural

Answer 5

Includes farms, orchards, gris, ranches, etc.

Question 6

Recreational

Answer 6

Consists of campgrounds, recreational vehicle parks, resorts properties, time-share units and other leisure time properties

Question 7

Special Purpose

Answer 7

Includes churches, hospitals, nursing homes, colleges, cemeteries, and other properties that generally must comply with governmental zoning and use regulations

Question 8

Public

Answer 8

Acquired by the municipal, county, state, federal governments for a variety of public purposes.