Retail Property Definition

Retail property is a classification of zoning for property that is used for a store, shopping center or service business. Real estate is another word used interchangeably with retail property.

Classification

Zoning ordinances are guidelines that counties use to explain the type of real estate property allowed in an area. Retail property is one classification of a zoning ordinance. Residential is an example of another zoning type. Mixed-use zoning is permitted in certain places. This allows residential and commercial properties to intermix and is usually accomplished through zone overlays.

Uses

Retail property is an ordinance describing any property used for retail space. This type of property is used for businesses selling goods and services. Property can be rezoned to retail property by applying in the county where the property is located. An application is filled out, and the county forwards it to agencies for review and determines if the property will be rezoned.

Types

Companies selling goods and services operate businesses, such as furniture and clothing stores, in retail locations. Convenience goods are sold at businesses close to customers' homes, such as food and drug stores. Service businesses and offices sell things such as insurance, car repairs and beauty salons.

References

• Financial Dictionary: Retail Property
• Property Investing: Real Estate Investment Articles
• State of Georgia: Toolkit of Best Practices
• Knoxville Tennessee Zoning Board: The Rezoning Process
• Anne Arundel County, Maryland | Rezoning Process