• Resorts —These are on the biggest pieces of land, and are usually in a travel destination (Hawaii or Orlando). They often come with their own golf course.
LAND
These are undeveloped, rural, or raw areas. You see these on highways and travel routes. You can see many of them for sale when you drive past. There are three types: • Greenfield land —These areas are undeveloped and haven’t been touched yet. They are often surrounded by farms and pastures. • Infill land —These are located in city areas and have already been developed, but are currently vacant. This type of land is sometimes an option for tenants if a buyer is in the process of purchasing the land. • Brownfield land —These are pieces of land that were used for commercial industrial purposes, but are now available for reuse. They can also be contaminated lands that have been restored and are ready for commercial use again.
SPECIAL PURPOSE
This is land that may be owned by commercial real estate investors but can’t be classified into one of the categories mentioned in this chapter. Examples of this are self-storage, churches, community centers, marinas, bowling alleys, theaters, funeral homes, car washes, and theme parks.
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