Commercial property definition

Commercial property means property formerly or currently used primarily for business, retail, governmental or professional purposes.
Commercial property means that term as defined in section 2 of the obsolete property rehabilitation act, 2000 PA 146, MCL 125.2782.
Commercial property means property classified as commercial, industrial, railroad, utility, or multiresidential for property tax purposes under rules 701—71.1(405,427A,428,441,499B), 701—76.1(434), and 701—77.1(428,433,437,438).

Examples of Commercial property in a sentence

  • On the exercise of this option, the Law Society’s Standard Conditions of Sale for Commercial Property in force at the date of such exercise shall apply to the transaction and completion shall take place 28 days after such exercise.

  • If the Option is exercised, completion will take place 28 days after the exercise date in accordance with the Law Society’s Standard Conditions of Sale for Commercial Property in force at that date.


More Definitions of Commercial property

Commercial property means a building used in a trade or business or held for the production of income.
Commercial property means that term as defined in
Commercial property means real property on which is located a business, government, or nonprofit establishment.
Commercial property means all property, or portions of property, not included in the classes of property defined in subsections 1, 4, 11, and 12.
Commercial property means a property operated for commercial purposes, or a
Commercial property means real property used, in whole or in part, by the owner or possessor of the property for a commercial, industrial, retail, or other business purpose, regardless of the identity of the property owner.
Commercial property means a building used for retail, office, or other business uses not otherwise classified as residential use pursuant to the Iowa state building code.