Commercial Property Deep Dive: Industrial
In 2022, we completed projects in three different states, and 13 counties within North Carolina.
These projects consisted of 33% of appraisals being Vacant Lands, 33% for Retail, 14% for Multi-Family Properties, 10% for Offices, and 10% for Industrial.
Stay tuned for a deep dive into Industrial spaces and the many subcategories that make up this bunch.
What Classifies as an Industrial Space?
Land or improvements that can be adapted for industrial use; a combination of land improvements, and machinery integrated into a functioning unit to assemble, process, and manufacture products from raw materials or fabricated parts; factories that render service (e.g., laundries, dry cleaners, storage warehouses) or those that produce natural resources (e.g., oil wells).
These buildings typically have considerable square footage, loading docks for trucks, several HVAC units, and several points of electrical distribution, an easily accessible flat roof, and other installed features. Some industrial buildings may also have large, refrigerated spaces.
Industrial Property Types
A structure that is designed and used for the storage of goods and merchandise.
Industrial space designed to allow flexible conversion of unfinished space into finished space. Alternatively known as service center or tech space.
A facility used for the conversion, fabrication, or assemblage of raw or partly wrought materials into a product or good for sale.