COMMERCIAL REAL ESTATE, AND ITS USES
Commercial Real Estate (CRE) is defined as any kind of housing or office complex, which has the potential to bring you in some money. A CRE is anything that can be rented, and through the income of which you can sustain yourself.
In recent times, Knoxville has made its place among one of the highest sources of CRE. Knoxville is an emerging city downtown, and opportunities in this place are endless. If you are looking for CRE options in Knoxville, you have to come the correct place. To experience this growth for yourself, check out the list below.
CRE in Student Housing
Some of the largest CRE gains in Knoxville have come from multi family or dormitory setups, most prominently in housing for students. Student Housing CREs are increasing in Knoxville, due to a boom in the number of students. Students look for something which is cheap, affordable, and near their university. Being in Knoxville offers all this, and so much more. In terms of CRE, the student housing programs have started to bear fruit. Thus, there is a further increase in this form of CRE, as more and more people have started to look at student housing as a viable and productive business option.
CRE in Tiny Home Communities
The concept of Tiny Homes have taken over the community of Knoxville. Their concept of minimalism and being one with nature has taken over the minds of the people from this town, with cottages selling for $118,000. Looking at it from a real estate view, tiny homes are extremely profitable, as they are comparatively inexpensive to build. These 640 square feet cottages are extremely small. This size is partly what attracts people to them. The concept of being one with nature is alluring to most people, and brings with it an extremely interesting CRE prospect.
CRE in Office Properties
According to recent studies, Knoxville has been ranked as one of the best places to work in the country. Keeping this statistic in mind, it is not difficult to deduct that office space has a very high CRE value in the town. With office space rents going up to $3.3 million in Knoxville, there is no question as to why this area is sought after. Knoxville usually has office space in what is categorized as ‘A’ Class Buildings, which are properties situated in prime locations, with easy access to all the major points of the city.
There are a lot of places for leisure activities, as well as healthcare and recreation properties. Car washes, theaters, cinemas, hotels, bowling alleys, funeral homes, and a lot of other kinds of properties fall into the CRE category. These properties are a great investment for both the owners of the property, the investors, as well as the people renting the office space. CRE properties are beneficial to everyone involved, and are the cornerstone of a moving economy. This is why CRE properties in Knoxville are so profitable, and continue to grow every day. If you are looking to invest in commercial real estate, call your trusted hometown experts today!
