Which class of commercial property is typically characterized by below-average rents?

Class C properties are typically characterized by below-average rents. These properties often have older construction and may not be in the best locations. They can require more maintenance and renovations compared to Class A and Class B properties, which are usually newer, better located, and require less upkeep.

Investors and tenants might be attracted to Class C properties due to lower rental costs, making them more accessible for businesses or individuals looking to minimize expenses. However, the trade-off often involves a higher risk and potentially lower quality environments or amenities. Understanding this classification helps property managers, investors, and tenants make informed decisions about their engagements in the commercial real estate market.