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NAICS 531120, industry

NAICS 531120: Lessors of nonresidential buildings (except miniwarehouses)

NAICS 531120 is the industry code for lessors of nonresidential buildings (except miniwarehouses). Use it on loan applications, tax forms and registrations. Explore financing for professional services and start your application when you are ready.

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What 531120 covers

Lessors of nonresidential buildings own and rent out commercial property such as offices, retail centers, warehouses and industrial buildings.

Included in this code

  • Office building owners
  • Shopping center owners
  • Industrial and warehouse landlords
  • Medical office building owners

Not this code

Businesses that use 531120

Strip center ownerOffice building ownerIndustrial landlord

Financing for this trade

Commercial landlords use bank loans, CMBS, life company loans and bridge loans. Lenders look at tenant quality, lease terms and debt service coverage.

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Is 531120 the right code for a commercial landlord?

Yes, if you own and lease commercial buildings to tenants. If you occupy most of the building with your own business, that business's code applies for SBA 504 purposes. If your work overlaps, also read the definitions for 531312 (nonresidential property managers) and 531130 (lessors of miniwarehouses and self storage units), then choose the code that matches your largest source of revenue.

What is the SBA size standard for 531120?

The SBA size standard for 531120 is $34M in average annual receipts. SBA averages total gross receipts over the last five completed fiscal years and adds in any affiliates under common control. A commercial landlord at or below that figure counts as small for federal small business contracts and other SBA size determinations, although lending and passive investment businesses are generally not eligible for SBA 7(a) loans.

What financing do commercial property investors use?

Bank and credit union loans, CMBS conduit loans, life insurance company loans and bridge loans for transitional properties are common. Lenders review tenant credit, lease rollover, debt service coverage and loan to value. Most lenders want two years of tax returns, year to date financial statements and a current debt schedule, and they size payments so cash flow covers debt service comfortably.

What does NAICS 531120 cover?

Lessors of nonresidential buildings (except miniwarehouses). Industry level code in NAICS 2022, under 53 Real estate and rental and leasing, 531 Real estate, 5311 Lessors of real estate, 53112 Lessors of nonresidential buildings (except miniwarehouses).

What financing do NAICS 531120 businesses use?

Equipment financing, working capital, SBA loans and invoice factoring are the products placed most for professional services businesses. Start an application and the AI matches the deal to lenders that fund this code.

Where do I put NAICS 531120?

On the SBA loan application, on federal Schedule C or Form 1120, on SAM.gov and state registrations, and on most lender applications. A business can report more than one code; use this one if it describes what produces most of your revenue.