Commercial real estate is property that is used exclusively for business or commercial purposes such as office space; retail stores; warehouses; industrial space (buildings and manufacturing plants); hospitals; hotels and resorts; restaurants; shopping malls; and strip malls. Multifamily rental properties such as apartment complexes are also classified as commercial real estate.

Most commercial real estate is leased to tenants engaged in business or commercial activities. Commercial real estate is often an investment asset for real estate investment trusts (REITs) and large other investors.

In North Dakota, commercial real estate encompasses properties used for business or commercial activities, including office spaces, retail stores, warehouses, industrial buildings, hospitals, hotels, restaurants, shopping centers, and multifamily rental properties like apartment complexes. These properties are typically leased to tenants for business purposes. The leasing, sale, and management of commercial real estate in North Dakota are governed by state statutes and regulations, which address aspects such as zoning laws, building codes, lease agreements, and property taxes. Additionally, federal laws may apply, particularly in areas such as environmental regulations, the Americans with Disabilities Act (ADA) compliance, and tax implications for investment in real estate, including provisions specific to Real Estate Investment Trusts (REITs). Investors and landlords must adhere to these legal frameworks to ensure lawful operation and management of their commercial properties.