CFR /  Title 12  /  Part 141  /  Sec. 141.15 Improved nonresidential real estate.

The term improved nonresidential real estate means nonresidential real estate:

(a) Containing a permanent structure(s) constituting at least 25 percent of its value; or

(b) Containing improvements which make it usable by a business or industrial enterprise; or

(c) Used, or to be used within a reasonable time, for commercial farming, excluding hobby and vacation property.