OOCRE (Owner Occupied Commercial Real Estate) is typically a commercial property of one of the following types:
- Office (Office Buildings and/or Office Condos)
- Industrial (Including warehouses and manufacturing facilities)
- Shopping Center
- Hotel & Motel
- Senior Housing / Assisted Living Facilities
- Health Care
- Special Purpose
Unimproved land, Multifamily Homes, and Residential Income Homes are not recognized by most banks or lending institutions as OOCRE.
OOCRE is a description utilized to describe the use or utility that the owner will have with the property. Typically an operating entity (Corporations, Partnerships, LLC, etc...) will own the property with the purpose of running business operations out of it or interacting with customers in there.