Commercial Real Estate Glossary
Plain-language definitions for the terms brokers, tenants, and investors use every day — from cap rate to triple net. Organized by topic, written for the deal you're actually working on.
Contiguous
Contiguous in commercial real estate refers to spaces or parcels that are directly adjacent to or touching one another, sharing a common boundary without interruption. The term is…
Principal
In real estate, principal has two common meanings. One is the original sum borrowed on a loan, before interest. The other is a party directly in a deal,…
Situs
Situs is a legal term referring to the physical location of a property, which determines the applicable jurisdiction for taxation, legal proceedings, and regulatory compliance. In real estate,…
Realtor
A Realtor is a licensed real estate professional who is also a member of the National Association of Realtors (NAR), bound by a strict code of ethics that…
Statute of Frauds
The Statute of Frauds requires certain agreements, including real estate sale contracts and long-term leases, to be in writing and signed before a court will enforce them. An…
Lien
A lien is a legal claim against a property that backs a debt or obligation. Unpaid mortgages, contractor bills (mechanic’s liens), overdue property taxes, and court judgments can…
Listing
A listing is a property formally put on the market for sale or lease, usually under an agreement between the owner and a broker. That listing agreement gives…
Broker
A commercial real estate broker is a licensed professional who facilitates property transactions — including purchases, sales, and leases — on behalf of clients such as landlords, tenants,…
