Commercial property is investment property. It can be residential or business in nature. Multi-family residential buildings, two family homes or single family homes can be considered investment property because they are rented to someone other than the owner of the property and produce income. Office space is also considered commercial property as it is not used for residential purposes.
Properties such as multi-family, two-family and single family are subject to the laws of New Jersey governing residential rental property. A person who owns these types of properties should be familiar with the New Jersey Tenant laws and municipal laws.
Although business properties are not subject to New Jersey Tenant laws as are residential properties, an owner of such properties should be aware of other New Jersey laws such as environmental, bankruptcy, municipal laws in negotiating leases and purchase and sale of such properties.
Our firm has represented clients in their purchase, sale or lease of commercial property for the past 25 years.