Property Types and Commercial Real Estate Loans
Commercial real estate property generally has some type of commercial designation. Most commercially zoned properties have some type of business operating there, i.e. retail operation, restaurant, industrial/manufacturing, warehousing, and other special use operations such as mini storage, gas station, etc. Some properties, such as vacant land, agricultural, and certain environmentally hazardous property types typically are not eligible.
These properties are considered owner occupied if common ownership exists between the owner of operating entity and the real estate holding company. If no common ownership exists between the property and the operating entities; the property is considered Investment Real Estate.
Financing options are available for both owner-occupied business property as well as non-owner occupied office buildings, retail centers, multi-use properties, apartment buildings and other types of commercial investment property. Clarkston State Bank offers financing options for most owner-occupied commercial properties through either conventional or SBA loan options, and conventional loans for investment real estate properties.