There are several different commercial property types available and depending on who you talk to, somebody will have a different opinion about what to call something as simple as retail space or as complex as multiple use industrial buildings. Local customs will always apply, but for the most part the industry classifies property types as:

• office
• mixed use which is typically a combination of office, retail, and housing units
• industrial
• warehouse
• retail
• manufacturing
• hybrid buildings like "flex", or "R&D" which are generally industrial but have some amount of office space

Note that sometimes the building’s classification can be misleading. For example, in California, we have many R&D buildings that are now setup for office space users that require just a little bit of computer lab space. They are not called office buildings, but they might as well be.

The industry tries to further define the buildings as Class A through C, with A properties being the highest quality in any given category. Class A buildings are generally newer buildings with great curb appeal, an abundance of glass, and high-end finishes like granite, slate, and marble in the common areas. Sometimes an agent will describe a Class A building as a “B” because it is in an inferior location relative to the other Class A buildings in the area. The reverse can also apply, it is possible to call a Class B building an “A” because it is in a superior location compared to the rest of the building base.