Property Types

There are five main categories that most commercial properties fall into. These three categories are:

Multi-Use Property: Multi-use property is a commercial property that can be easily converted to several different uses. Examples of multi-use property are: Office, Retail, Warehouse, and light industrial.

Special Use Property: Special Use property, sometimes referred to as single-use property, is a commercial property types generally considered to be good for one use only. Examples of special use property are: Restaurant, Automotive Real Estate, Assisted Living Facility, convience store, and gas station.

Multifamily Property: Multifamily (also commonly spelled multi-family) property is exactly what it sounds like. It is residential property designed for the use of more than one family (i.e. an apartment building). A multifamily property is generally considered to be commercial multifamily when it is designed for the use of more than 5 families. Mission Oaks National Bank can finance multifamily properties with more than 5 units.

Mixed Use Property: Mixed Use property is when a property has both residential and commercial uses. Typically, but certainly not always, this includes a multi-use retail or office unit on the ground floor with apartments above.

Hospitality Property: Hospitality property includes hotels, motels, bed and breakfast properties and any variation therein. Many lenders consider hospitality property to a special use property. At Mission Oaks National Bank, we are so familiar with hospitality property that we think that it deserves its own category.

Click on a property type above to learn more about each and to see examples.