Understanding commercial property data and how to use it
KBCommercialRE sources property data directly from county property appraiser offices. These are the same government records used by title companies, lenders, and appraisers. We aggregate data from multiple states and normalize property classifications so you can search consistently.
For each commercial property, we capture: address, assessed value, just/market value, land value, building square footage, lot size, year built, construction class, owner name, parcel number, and sale history.
The most important feature of KBCommercialRE is property type normalization. Here's how we classify commercial properties:
Office: Multi-story office buildings, professional service buildings, banks, insurance offices. FL codes: 017-019, 023-024.
Retail: Storefronts, department stores, supermarkets, shopping centers, wholesale outlets. FL codes: 011, 013-016, 029.
Warehouse / Distribution: Warehousing, distribution terminals, logistics facilities. FL code: 048. This is a major asset class driven by e-commerce growth.
Light Industrial: Light manufacturing, food processing, packing plants, lumber yards, florists/greenhouses. FL codes: 030, 041, 043-046.
Heavy Industrial: Heavy manufacturing, mineral processing, open storage yards. FL codes: 042, 047, 049.
Hospitality: Hotels, motels, restaurants, bars, nightclubs. FL codes: 021-022, 033, 039.
Multi-Family (10+): Large apartment complexes treated as commercial asset class. FL code: 080.
Mixed Use: Combined retail + office or retail + residential. FL code: 012.
Florida has the most granular system — 90 distinct use codes for commercial properties (010-099). You can distinguish a warehouse (048) from a shopping center (015) from a hotel (039).
New Jersey uses class codes: 4A (Commercial) and 4B (Industrial). Less granular, but we map these to our normalized categories.
New York uses 3-digit property classes: 400-series for commercial, 700-series for industrial. We map each subcode to the appropriate category.
Maryland follows a similar simplified model to NJ — commercial and industrial as broad categories.
As we expand to more states, each state's native classification system is mapped into our normalized taxonomy. You search once, get results from everywhere.
1. Default: A commercial property owner fails to make mortgage payments. The lender sends notices and works with the borrower to find resolution.
2. Lis Pendens: If unresolved, the lender files a lis pendens (LP) — a public notice of pending foreclosure action. This is recorded in the county clerk's office.
3. Judgment: The court issues a foreclosure judgment (JUD/JFNC) setting an auction date.
4. Auction: The property is sold at public auction. Commercial auctions can involve institutional bidders and often result in bank-owned (REO) properties if no one bids above the judgment amount.
5. Post-Sale: The winning bidder receives a certificate of sale. There may be a redemption period depending on the state. Commercial properties often require environmental due diligence (Phase I/II) before closing.
Browse commercial properties or set up alerts for your target areas.