The phrase denotes actual property acquired with the intent of producing income, located inside a geographically proximate location to the person or entity enterprise the acquisition. This could embody residential dwellings rented to tenants, industrial buildings leased to companies, or land held for future growth, all chosen for his or her income-producing potential and handy accessibility.
Proximity provides a number of benefits. It facilitates direct administration and oversight of the asset, reduces journey prices related to upkeep and tenant relations, and permits for a extra knowledgeable understanding of native market dynamics. Traditionally, concentrating investments inside a manageable radius has been a method employed to mitigate danger by localized information and management.
