NAICS UNIVERSITY · Free research for insurance agents
Lessors of Nonresidential Buildings (except Miniwarehouses)
NAICS 531120 · United States · 2022 edition
This industry comprises establishments primarily engaged in acting as lessors of buildings (except miniwarehouses and self-storage units) that are not used as residences or dwellings. Included in this industry are: (1) owner-lessors of nonresidential buildings; (2) establishments renting real estate and then acting as lessors in subleasing it to others; and (3) establishments providing full service office space, whether on a lease or service contract basis. The establishments in this industry may manage the property themselves or have another establishment manage it for them.
Activities described by this code
Other activities to examine
- Acting as lessors of buildings used as residences or dwellings: 531110 — Lessors of Residential Buildings and Dwellings
- Renting or leasing space for self-storage: 531130 — Lessors of Miniwarehouses and Self-Storage Units
- Managing nonresidential real estate for others: 531312 — Nonresidential Property Managers
- Providing a range of office support services, such as mailbox rental, other postal and mailing (except direct mail advertising) services, document copying services, facsimile services, word processing services or on- site personal computer rental, that are not providing office space: 56143 — Business Service Centers
- Managing and operating arenas, stadiums, theaters, or other related facilities and promoting and organizing performing arts productions, sports events, and similar events at those facilities: 711310 — Promoters of Performing Arts, Sports, and Similar Events with Facilities
- Operating public and contract warehousing and storage facilities (except self-storage): 4931 — Warehousing and Storage;
- Providing colocation services (i.e., rental of server and networking space in data centers): 518210 — Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services
Census classification reference
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Compare another operationInsurance operations research — draft
Businesses in this class own or sublease nonresidential buildings — office, retail, flex, industrial, or mixed-use — and derive income from renting space to commercial tenants. Day-to-day operations may include tenant relations, maintenance, lease administration, and common-area management, either self-managed or through a third-party property manager. Some operators also provide full-service office suites on short-term or service-contract arrangements.
Questions to investigate
- What is the current occupancy rate, and are any units vacant or between tenants?
- What types of businesses are the current tenants — office, retail, restaurant, industrial, or mixed?
- Is the property self-managed by the owner, or handled through a third-party property management firm?
- What is the age and condition of major building systems — roof, HVAC, electrical, plumbing?
This insurance research was generated in April 2026. It has not received a complete human review. The October 12, 2026 audit checked codes and titles only, not descriptions or coverage assertions.