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Retail property is a classification of zoning for any commercial real estate designed for use as a store, shopping center, or service business.
Broadly, retail properties are used exclusively to market and sell consumer goods and services.A retail property may be a single, free-standing structure or a multi-tenant strip center that may or may not include anchor stores.
If it’s a multi-tenant strip center, it will typically include a mix of small inline stores that focus on conveniences – such as nail or hair salons, bank branches, dry cleaners, liquor stores, and sandwich shops. Retail properties may be owner-operated or rented out as investment properties.