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| Types of Commercial Properties & Loan Programs |
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Tier I Properties
Multifamily
Mixed-use
Tier II Properties
Automotive
Bed & Breakfast
Light Industrial
Mixed-use
Mobile Home Park
Office
Retail
Self Storage
Warehouse
and others not list
Tier III Properties
Flagged Hospitality
Funeral Home
Industrial
Rooming House
and others not listed-call
Tier IV Properties
Day Care
Gas Stations
Health Care
Restaurant
RV Park
Unflagged Hospitality
and others not listed-call
Tier I Properties In Detail
Multifamily
Structures containing five or more dwelling units with common area facilities such as
entrances, lobby, elevators, stairs, mechanical space, walks or grounds. Units must be
rented on a non-transient basis such that tenants consider their unit their permanent
residence. Properties that offer weekly or monthly housing would not be considered
multifamily properties. - return to top -
Mixed-use In Detail
Mixed-use properties must contain at least one commercial unit (retail, office etc.) and
at least one residential unit. Common types of mixed-use properties include a ground
floor retail or office unit with apartment(s) above, all within the same building. The
primary use at the property must be for residential purposes in order for it to be
considered Tier I mixed-use. The mixed-use property type can be classified in any tier
depending on the percentage of the multi-family component and the type of commercial
use. - return to top
Tier II Properties In Detail
Automotive
Automotive is a somewhat broad category and encompass a variety of uses that
support the automotive segment. Included within this category are auto repair shops,
used car lots, quick-lube facilities, tire repair shops, etc. The type and size of building
will vary with the use. Many buildings are designed specifically for the auto trade
characterized by overhead doors, car lifts and usually a small office area - return to top -
Bed & Breakfast
Bed and Breakfast inns are residential-type buildings designed for transient boarding
and are family style in character. B & B inns are usually one structure but some may
include an adjacent guest cottage with similar quality amenities as the main unit. The
property must be a traditional B&B, which is typically a converted period era residence.
Properties which contain cabins, cottages, or bungalows, or those that are small motels
or others that do not fit the true theme of a B&B will be considered un-flagged
hospitality (Tier IV). The owner of the B&B does not have to live on-site. - return to top -
Light Industrial
Light industrial is characterized by a small size facility where no heavy manufacturing
or specialized industrial process takes place. Office space within light industrial ranges
from 3% to 25% of the total area. Buildings must include sufficient plumbing and
lighting to accommodate personnel. Common uses found in light industrial properties
may include: cabinet making, assembly processes, home service industries, etc. Absent
from these properties is any type of heavy machinery, welding operations, cranes or
hazardous materials. - return to top -
Mixed-use
Mixed-use properties must contain at least one commercial unit (retail, office etc.) and
at least one residential unit. If the primary use at the property is for commercial
purposes, the property will fall under our mixed-use Tier II guidelines. The mixed-use
property type can be classified in any tier depending on the percentage of the multi-
family component and the type of commercial use. - return to top -
Mobile Home Park
Mobile home parks are considered as long as not more than 25% of the total spaces are
used for RV. Mobile home parks vary in quality and amenities and all will be considered
unless the RV component is too high. - return to top -
Office
Office buildings are buildings designed for general commercial occupancy and are
normally subdivided into smaller units. Office use implies a general business use that
does not include retail, manufacturing or warehouse type operations. - return to top -
Retail
Retail buildings are designed for retail sales and display and usually have display or
decorative fronts. This retail classification encompasses a wide variety of uses
including, but not limited to: markets, convenience stores, drugstores, department
stores, big box retailers, barber shops, laundromats, etc. - return to top -
Self Storage
Mini-warehouses are warehouses subdivided into a mixture of cubicles of generally
small size, designed primarily to be rented for small self- storage or noncommercial
storage and may include some office-living space.
Warehouse
Warehouse buildings are designed primarily for storage purposes. An amount of office
space included is usually commensurate with the quality of the building but typically
ranges from 3% to 12% of the total area. Plumbing and lighting are usually limited due
to anticipated light personnel load. The design of the building usually includes a light
frame with large open interior areas. Cold storage and transit warehouses (truck
terminal) are included in this category.
Tier III Properties In Detail
Flagged Hospitality
Hotels with national franchise affiliation are considered "flagged." Hotels must be in
good standing with their affiliated franchise to maintain this tier. - return to top -
Funeral Home
Funeral homes include those used for viewing purposes as well as those that include
embalming services.
Industrial
Where the principle structure is designed for manufacturing processes, heavy assembly
or involves the use of heavy machinery. It contains an average amount of office space
commensurate with the quality of the building and the intended use. Their heavy
frames, walls and floors, specialized manufacturing processes and power or utility-
service characterize industrial facilities.
Rooming House
Rooming houses are similar to that of multifamily but the nature of the occupancy is
more transient. Rooms are rented on a daily, weekly or monthly basis and usually only
include a bedroom. The residents share the bathroom and the kitchen. Rent paid
usually includes all utilities and units may be furnished. Most rooming house properties
contain less than 20 units.
Tier IV Properties In Detail
Day Care
Day Care Centers are early childhood, handicapped, adult, and senior care facilities; or
developmental centers, such as kindergartens, nurseries or children's preschools. They
have light kitchen facilities, activity rooms and multiple restrooms, and are more
residential in character than schools.
Gas Stations
Gas stations are automotive properties or any other property that dispenses any
amount of fuel for retail sale. They may have an auto mechanic, convenience store and /
or car wash component.
Health Care
Included in this category are all Assisted Living or Nursing Home types of operations
where a license is required to operate the business. Quality and service levels vary
considerably. Also included in this category are hospitals and medical treatment
facilities, such as out patient care or walk-in emergency medicine. - return to top -
Restaurant
Restaurants are constructed for the purpose of preparation and sale of food and/or
beverages, which include cafeterias, bars, and taverns, where design is of restaurant
type. - return to top -
RV Park
RV parks are those that are designed for recreational vehicles. May include mobile
home pad rentals but will be considered an RV park if 25% or more of total park is for
RV. Transient type occupancy is common.
Unflagged Hospitality
Hotels or motel properties with no national franchise affiliation are considered
"unflagged." "Mom & Pop" style operators typically run these types of facilities and the
quality and level of service varies considerably.
Multifamily
Mixed-use
Tier II Properties
Automotive
Bed & Breakfast
Light Industrial
Mixed-use
Mobile Home Park
Office
Retail
Self Storage
Warehouse
and others not list
Tier III Properties
Flagged Hospitality
Funeral Home
Industrial
Rooming House
and others not listed-call
Tier IV Properties
Day Care
Gas Stations
Health Care
Restaurant
RV Park
Unflagged Hospitality
and others not listed-call
Tier I Properties In Detail
Multifamily
Structures containing five or more dwelling units with common area facilities such as
entrances, lobby, elevators, stairs, mechanical space, walks or grounds. Units must be
rented on a non-transient basis such that tenants consider their unit their permanent
residence. Properties that offer weekly or monthly housing would not be considered
multifamily properties. - return to top -
Mixed-use In Detail
Mixed-use properties must contain at least one commercial unit (retail, office etc.) and
at least one residential unit. Common types of mixed-use properties include a ground
floor retail or office unit with apartment(s) above, all within the same building. The
primary use at the property must be for residential purposes in order for it to be
considered Tier I mixed-use. The mixed-use property type can be classified in any tier
depending on the percentage of the multi-family component and the type of commercial
use. - return to top
Tier II Properties In Detail
Automotive
Automotive is a somewhat broad category and encompass a variety of uses that
support the automotive segment. Included within this category are auto repair shops,
used car lots, quick-lube facilities, tire repair shops, etc. The type and size of building
will vary with the use. Many buildings are designed specifically for the auto trade
characterized by overhead doors, car lifts and usually a small office area - return to top -
Bed & Breakfast
Bed and Breakfast inns are residential-type buildings designed for transient boarding
and are family style in character. B & B inns are usually one structure but some may
include an adjacent guest cottage with similar quality amenities as the main unit. The
property must be a traditional B&B, which is typically a converted period era residence.
Properties which contain cabins, cottages, or bungalows, or those that are small motels
or others that do not fit the true theme of a B&B will be considered un-flagged
hospitality (Tier IV). The owner of the B&B does not have to live on-site. - return to top -
Light Industrial
Light industrial is characterized by a small size facility where no heavy manufacturing
or specialized industrial process takes place. Office space within light industrial ranges
from 3% to 25% of the total area. Buildings must include sufficient plumbing and
lighting to accommodate personnel. Common uses found in light industrial properties
may include: cabinet making, assembly processes, home service industries, etc. Absent
from these properties is any type of heavy machinery, welding operations, cranes or
hazardous materials. - return to top -
Mixed-use
Mixed-use properties must contain at least one commercial unit (retail, office etc.) and
at least one residential unit. If the primary use at the property is for commercial
purposes, the property will fall under our mixed-use Tier II guidelines. The mixed-use
property type can be classified in any tier depending on the percentage of the multi-
family component and the type of commercial use. - return to top -
Mobile Home Park
Mobile home parks are considered as long as not more than 25% of the total spaces are
used for RV. Mobile home parks vary in quality and amenities and all will be considered
unless the RV component is too high. - return to top -
Office
Office buildings are buildings designed for general commercial occupancy and are
normally subdivided into smaller units. Office use implies a general business use that
does not include retail, manufacturing or warehouse type operations. - return to top -
Retail
Retail buildings are designed for retail sales and display and usually have display or
decorative fronts. This retail classification encompasses a wide variety of uses
including, but not limited to: markets, convenience stores, drugstores, department
stores, big box retailers, barber shops, laundromats, etc. - return to top -
Self Storage
Mini-warehouses are warehouses subdivided into a mixture of cubicles of generally
small size, designed primarily to be rented for small self- storage or noncommercial
storage and may include some office-living space.
Warehouse
Warehouse buildings are designed primarily for storage purposes. An amount of office
space included is usually commensurate with the quality of the building but typically
ranges from 3% to 12% of the total area. Plumbing and lighting are usually limited due
to anticipated light personnel load. The design of the building usually includes a light
frame with large open interior areas. Cold storage and transit warehouses (truck
terminal) are included in this category.
Tier III Properties In Detail
Flagged Hospitality
Hotels with national franchise affiliation are considered "flagged." Hotels must be in
good standing with their affiliated franchise to maintain this tier. - return to top -
Funeral Home
Funeral homes include those used for viewing purposes as well as those that include
embalming services.
Industrial
Where the principle structure is designed for manufacturing processes, heavy assembly
or involves the use of heavy machinery. It contains an average amount of office space
commensurate with the quality of the building and the intended use. Their heavy
frames, walls and floors, specialized manufacturing processes and power or utility-
service characterize industrial facilities.
Rooming House
Rooming houses are similar to that of multifamily but the nature of the occupancy is
more transient. Rooms are rented on a daily, weekly or monthly basis and usually only
include a bedroom. The residents share the bathroom and the kitchen. Rent paid
usually includes all utilities and units may be furnished. Most rooming house properties
contain less than 20 units.
Tier IV Properties In Detail
Day Care
Day Care Centers are early childhood, handicapped, adult, and senior care facilities; or
developmental centers, such as kindergartens, nurseries or children's preschools. They
have light kitchen facilities, activity rooms and multiple restrooms, and are more
residential in character than schools.
Gas Stations
Gas stations are automotive properties or any other property that dispenses any
amount of fuel for retail sale. They may have an auto mechanic, convenience store and /
or car wash component.
Health Care
Included in this category are all Assisted Living or Nursing Home types of operations
where a license is required to operate the business. Quality and service levels vary
considerably. Also included in this category are hospitals and medical treatment
facilities, such as out patient care or walk-in emergency medicine. - return to top -
Restaurant
Restaurants are constructed for the purpose of preparation and sale of food and/or
beverages, which include cafeterias, bars, and taverns, where design is of restaurant
type. - return to top -
RV Park
RV parks are those that are designed for recreational vehicles. May include mobile
home pad rentals but will be considered an RV park if 25% or more of total park is for
RV. Transient type occupancy is common.
Unflagged Hospitality
Hotels or motel properties with no national franchise affiliation are considered
"unflagged." "Mom & Pop" style operators typically run these types of facilities and the
quality and level of service varies considerably.