Что такое коммерческая недвижимость и стоит ли в нее инвестировать

What is commercial real estate? It’s not just buildings and spaces. It’s a tool capable of generating a stable cash flow, building active capital, and ensuring long-term financial stability. Objects include office centers, retail spaces, warehouses, hotels, restaurants, business centers, production facilities, medical and sports facilities. The main feature is the use not for living, but exclusively for profit, whether it’s renting, resale, or conducting business.

Unlike residential properties, income from commercial assets depends on business activity in the region, transportation accessibility, infrastructure, and legal nuances of the lease agreement. For example, an office in Moscow City rents from 2,000 to 3,500 rubles per square meter, while a similar footage on the outskirts does not always exceed 800 rubles per square meter. Hence the approach – to calculate not by intuition, but through analytics, comparison, and forecasting.

What is commercial real estate: dynamics and trends of the segment

The commercial real estate segment is constantly transforming. Businesses change formats, tenants demand flexibility, and developers take into account the new reality. After the 2020 pandemic, there was an increased interest in flexible offices and mixed-use spaces. According to the analytical agency IRN for the year 2024, 42% of new deals in major cities were concluded precisely for flexible formats (clusters, coworking spaces, showrooms).

Retail real estate has also adapted: tenants focus on foot traffic, proximity to key attraction points (supermarkets, metro, hubs). For example, in St. Petersburg, the area for street retail on Nevsky Prospekt is rented out at a rate starting from 12,000 rubles per square meter per month, while in residential areas, this figure fluctuates within 2,500-4,000 rubles.

Profitability mathematics: precise calculations lead to stable earnings

To answer the question of what commercial real estate is and whether it is worth investing in such properties, it is important to understand how income is generated. The evaluation model includes:

1. Initial investments – purchase price, repairs, registration, insurance, legal services.
2. Ongoing expenses – utility payments, depreciation, taxes, maintenance, management company.
3. Income – rental income or one-time profit from sales.
4. Net profit – revenue minus all expenses.

For example, a cafe space of 120 square meters in the center of Kazan is sold for 14 million rubles. Repairs and equipment will require another approximately 2 million. The average rental rate in this area is 2,000 rubles per square meter. With full occupancy and stable tenants, the monthly revenue will be 240,000 rubles (before taxes and expenses). At current rates, the return on investment occurs after 6-7 years of operation.

Typology of commercial real estate: choosing based on purpose

There is no one-size-fits-all solution. Different formats are suitable for different strategies:

1. Street retail – high traffic, quick liquidity, short lease terms. Ideal for shops, cafes, showrooms.
2. Office spaces – long-term contracts, predictable income, low tenant turnover with a strategic location.
3. Warehouses and logistics complexes – especially in regions with active e-commerce (e.g., Moscow region, Yekaterinburg, Novosibirsk).
4. Hotel real estate – unstable but potentially high income in tourist centers with 60-70% occupancy.
5. Coworking spaces and hubs – recent trends, effective with the right marketing model.

Strengths and weaknesses of investments: what commercial real estate is without embellishments

Commercial real estate is a high-risk asset with high returns. The advantages lie in the ability to earn higher income than residential rentals and in longer-term contracts. However, challenges include sensitivity to the economy, dependence on tenant profiles, high initial costs, and maintenance expenses.

For example, a vacant store without a tenant does not bring a loss, but there are constant expenses for security, utilities, taxes. Conversely, successful leasing, even with deferred terms, pays off multiple times.

Calculation practice: how much does commercial real estate actually yield

Using a typical office space in a Class “B+” business center in Yekaterinburg as an example. Area – 180 square meters, purchase price – 15.5 million rubles. Average rental rate – 1,400 rubles per square meter. Gross income – 252,000 rubles per month. After deducting operating expenses, taxes, and management fees, around 170,000 rubles remain net. Thus, the annual income exceeds 2 million rubles, and the property pays off within 7.5 years.

The rate of return varies from 7% (Moscow, center) to 14-16% (outlying cities, “C” category properties). Residential real estate in similar conditions yields 3.5-5.5% annually, making commercial real estate an obvious favorite with the right choice of property.

Strategies: how to approach buying and management

The classic strategy defining what commercial real estate is, is “buy and lease.” Modern models involve a more flexible approach:

1. Renovation and reprofiling (e.g., from warehouse to food hall).
2. Purchasing during the construction phase at a reduced price with subsequent sale or leasing at market rates.
3. Long-term management involving a management company (especially relevant for hotels or large offices).
4. Investments in thematic spaces: sports, healthcare, children’s centers – particularly in densely populated residential areas.

A list of risks that should not be forgotten:

1. Risk of tenant absence due to market changes.
2. Fluctuations in rental rates during economic crises.
3. Need for capital investments every 5-7 years.
4. Losses from downtime and conflicts with tenants.
5. Inability to quickly liquidate the asset without discounting the price.

These risks are offset by sound legal support, liquidity assessment before purchase, and choosing a segment with stable demand.

What is commercial real estate: a sensible investment for a systematic approach

Investing in commercial real estate requires precision, an analytical approach, and an understanding of market specifics. It’s not a lottery but an engineering calculation. With the right choice, a sound management model, and a long-term strategy, such an asset can become not just a source of income but the foundation of an investment portfolio. The development of hybrid formats, increasing demand for quality spaces, and changing consumption patterns open up new opportunities for investors.