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An empty land that has not been built upon could be turned into a commercial property provided that it is away from residential areas . A residential property is a real estate used to live in. There are many categories in commercial real estate as commercial real estate encompasses a varied group of property structures and vacant lands. The most frequently called commercial real estate is a multi level real estate with multiple commercial uses. Multifamily commercial properties homes constructed for the occupation of many families are also known as commercial real estate.