Retail Condominium

A retail condominium is a type of retail property. A type of ownership of single units or possibly multiple units in a multi-unit structure, combined with joint ownership of commonly used property (land areas, recreational facilities, garages, parking areas, sidewalks, hallways, stairs, lobbies, etc.). Any property type can be built or converted to this ownership arrangement. In most cases, individual unit owners hold title to the interior walls of their property. They also are members of condominiums associations, which collectively owns the exterior walls of the structure, as well as the ground the structure sits on. Typically, each unit owner has to pay a regular fee to the association which is then used to maintain common areas, pay common utility bills, maintain landscaping, remove trash, etc. We have a team of dedicated commercial real estate appraisers focused on the various retail property types such as retail condominiums. Please contact us for any retail appraisal services.