what type of property is consider special purpose?

In Leasing Property - Asked by Lisa G. - Aug 27, 2010
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Answer(s)

Paul G.
Broker/Agent
Metairie, LA

A property that can only be used for a certain thing, i.e., a church could usually only be used again as a church, civic center, auditorium, etc. same thing.

Aug 27, 2010
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GHS L.
Developer
Miami, FL

Any property thats use would lie outside of the normal Commerical, Residential and Industrial categories. Typically recreational uses, churches, cemetaries and crematories, athletic fields, RV sites, Parks, etc. In some cases co-op, convelescent and other types of living facilities are also zoned under "special purpose".
Due to the term "Special Purpose" varying by municipality, it is best to check with your local building and zoning dept to determine their specific guidelines under that zoning category. Because the zoning category is generally used to describe a unique purpose, it may mean the properties use is considered highly unique, warranting the property valuable. Or alternatively, it could mean that the property is found to be inappropriate (for any array of reasons) to be calssified under the normal zoning categories.
Bottom line, give your local Zoning Dept a call or check on their website and they should be glad to explain their specific use of the term "Special Purpose".

Aug 28, 2010
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Joe M. W.
Appraiser
San Pedro, CA

From an Appraisal standpoint, they would consist of most property types that are very difficult to sell or lease for a different purpose, although there are always exceptions. Churches and Religious Facilities are the most common (although they can often be configured for private school uses). A lovely old church in my area has been converted to an upscale multi-tenant office building!!! Anyway, some other examples would be casinos, cemetaries, marinas, prisons, police & fire stations, schools & libraries, large recycling centers, wineries & vineyards, etc. We also consider many "Sports & Entertainment" properties to be Special Purpose - Many theaters & concert halls, arenas, golf courses, race tracks (horse, dog, or auto), baseball & football stadiums - to name a few. Basically, anything rare enough that it would be nearly impossible to find other examples to use as sale comparables.

Aug 28, 2010
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edward p.
Broker/Agent
Auburn, MA

There are usually five types of real property residential, commercial, industrial, agricultural and special use. Also there are subcategories within each of the categories for e.g. in residential property there would be single family home, condominiums, town houses and duplexes. The properties which provide you a higher worth is called as special purpose property. While purchasing any type of property it is advantageous to use real estate professional experience in that category.

Jun 13, 2013
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Guy T.
Broker/Agent
Springfield, VA

This comes from the LoopNet Help Center, under Property Type Definitions:
Special Purpose definition:
Other: All other special-purpose-type properties. (Other than Office, Land, Senior Housing, Multi-Family, Industrial, Retail, and Hotel / Motel definitions)
Marina: A boat basin that provides dockage and other services to pleasure craft
Religious: A church, temple, mosque, shrine or other house of worship

Sep 9, 2015
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Jenifer B.
Tenant
Town and Country, MO

Church

Oct 30, 2015
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