Residential property is property zoned specifically for living or dwelling for individuals or households; it may include standalone single-family dwellings to large, multi-unit apartment buildings.
What is commercial Property
Commercial property is real estate that is used for business activities. Commercial property usually refers to buildings that house businesses, but can also refer to land used to generate a profit, as well as large residential rental properties.
The designation of a property as a commercial property has implications for how it is financed, how it is taxed, and how the laws are applied to it.