Commercial Property: A commercial property refers to the buildings, structures, and site improvements located on a parcel of commercial real estate (CRE). It is real property primarily used for business, institutional, or income-generating purposes. This includes properties used for industrial, retail, office, hospitality, medical, mixed-use, educational, or institutional functions. It also includes multi-family residential buildings with more than four units, or as otherwise defined by the authority having jurisdiction (AHJ).