2006-10-26 15:11:43 · 9 answers · asked by mandycandy 1 in Business & Finance ➔ Renting & Real Estate
Says who?
2006-10-26 15:13:47 · answer #1 · answered by Mr. BIG 6 · 1⤊ 1⤋
It all depends on what kind of commercial and what kind of residential and where it all is.
If you have say a 40 acre manufacturing complex, it might well be cheaper per square foot than a home, because there are more buyers for homes than factories. There may not be much one can do in that area with a large factory, because the labor base may have moved away when it closed, and the factors that made it close may still exist. It may be environmentally impacted because of chemicals used there, which could actually make the property have a negative value since before you can do anything you have to do a cleanup that will cost more than the property itself is worth.
On the other hand, a property zoned commercial that has always been and still is used as farmland in the middle of, say, Dallas, should be worth more than most residential areas that size.
2006-10-26 15:34:58 · answer #2 · answered by open4one 7 · 0⤊ 0⤋
If you are talking about Renting or Leasing by cheaper, it is because legally you can not live there and they typically don't have kitchens or a bathtub/shower or even gas lines for a stove. This makes some kinds of commercial property cheaper to build. Also, some commercial areas are so bad or dangerous then the local residential areas it just depress the value of the building, that makes the rent cheaper. As for buying commercial property and living on it, you can get away with it. Technically commercial buildings are not permitted to be used as residences and renting one out as a residents violates a bunch of laws the city can go after you for and or fine you over. If you own it, you are not renting it, so that cuts down a lot of violations and that makes it easy to skirt by, by just lying to the city. The laws are meant to protect the public from unscrupulous landlords, not to protect you from your self.
2016-03-28 08:48:24 · answer #3 · answered by Donna 4 · 0⤊ 0⤋
Yea, I'm wondering the same thing. I can go rent commercial property for way cheaper than a studio apartment right now and this is in CT.
2014-10-03 11:13:35 · answer #4 · answered by Patrice 2 · 1⤊ 0⤋
Commercial property is generally valued higher than residential because it has more uses. However, in rare instances, there is a surplus of commercial and 'supply and demand' rules the marketplace.
2006-10-26 15:23:15 · answer #5 · answered by Will 1 · 0⤊ 1⤋
That's unusual, but probably in your community you have an excess of commercial and a shortage of residential.
2006-10-26 15:20:00 · answer #6 · answered by Rick 2 · 0⤊ 0⤋
You must be in a time zone somewhere as where I live all commercial is higher than residential.
Can't go by rent value but value per square foot.
2006-10-26 15:14:14 · answer #7 · answered by Anonymous · 0⤊ 0⤋
That is not usually the case.
2006-10-26 15:14:54 · answer #8 · answered by Stacey 2 · 0⤊ 0⤋
They usually aren't.
2006-10-26 15:13:42 · answer #9 · answered by Anonymous · 0⤊ 0⤋