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For example, it can be a piece of property with a strip mall on it. It can be vacant land that has been set aside and zoned by the city to allow a business to be built on it. Commercial real estate may even have a residential home sitting on it at the moment. Many times as cities and towns grow property can be rezoned to allow for businesses to come into that particular area. A town may grow to the point where a house that was safely located in a residential zone may need to be cleared out for commercial real estate once the town has grown to a certain point.