What Are Retail Condos?

Retail condos are commercial properties in which you can buy a unit in a multi-unit shopping center. Just like housing condos, you do not have your own lot because all the units in the center share a lot with common parking lot and common area. The property is usually governed by a "Covenants, Conditions & Restrictions" (CC&R) document which describes all the rules and limitations you have to abide by. You will have to pay a monthly owners association fee based on the square recording of your unit for the preservation of shopping center.