531120 Lessors of Nonresidential Buildings (except Miniwarehouses)

Official definition

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.

Source: US Census Bureau, 2022 NAICS descriptions.

When to use a different code

Census classifies these close-sounding activities somewhere else. Businesses mainly engaged in:

• Acting as lessors of buildings used as residences or dwellings are classified in Industry 531110, Lessors of Residential Buildings and Dwellings.
• Renting or leasing space for self-storage are classified in Industry 531130, Lessors of Miniwarehouses and Self-Storage Units.
• Managing nonresidential real estate for others are classified in U.S. Industry 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 are classified in Industry 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 are classified in Industry 711310, Promoters of Performing Arts, Sports, and Similar Events with Facilities.
• Operating public and contract warehousing and storage facilities (except self-storage) are classified in Industry Group 4931, Warehousing and Storage.
• Providing colocation services (i.e., rental of server and networking space in data centers) are classified in Industry 518210, Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services.

Source: US Census Bureau, 2022 NAICS cross-references.

Businesses that use this code

• Landlord (rental property owner)
• Coworking space

Activities listed under 531120

The Census index assigns these 40 activities to this code. If your business matches one, this is your code.

• Amusement facility rental or leasing
• Arena, no promotion of events, rental or leasing
• Auditorium rental or leasing
• Bank building rental or leasing
• Banquet hall rental or leasing
• Building, nonresidential (except miniwarehouse), rental or leasing
• Commercial building rental or leasing
• Concert hall, no promotion of events, rental or leasing
• Conference center, no promotion of events, rental or leasing
• Convention center, no promotion of events, rental or leasing
• Coworking space rental or leasing
• Dance hall rental or leasing
• Dock and associated building rental or leasing
• Equity real estate investment trusts (REITs), primarily leasing nonresidential buildings (except miniwarehouses)
• Executive suites (i.e., full service office space provision)
• Exhibition hall, no promotion of events, rental or leasing
• Flea market space, under roof, rental or leasing
• Full service office space provision
• Hall and banquet room, nonresidential, rental or leasing
• Hall, nonresidential, rental or leasing
• Hotel building rental or leasing, not operating hotel
• Industrial building rental or leasing
• Insurance building rental or leasing
• Lessors of nonresidential buildings (except miniwarehouses)
• Mall property operation (i.e., not operating contained businesses) rental or leasing
• Manufacturing building rental or leasing
• Medical building rental or leasing
• Meeting hall and room rental or leasing
• Mobile office building rental or leasing, on-site
• Motel building rental or leasing, not operating motel
• Nonresidential building (except miniwarehouse) rental or leasing
• Office building rental or leasing
• Piers and associated building rental or leasing
• Professional office building rental or leasing
• Real estate rental or leasing of nonresidential building (except miniwarehouse)
• Reception hall rental or leasing
• Shared workspace provision
• Shopping center (i.e., not operating contained businesses) rental or leasing
• Stadium rental or leasing without promotion of events
• Theater property rental or leasing, not operating theater

Source: US Census Bureau, 2022 NAICS index file.

SBA size standard for 531120

To count as a small business for SBA loans and federal contracts under NAICS 531120, your business (including affiliates) must not exceed $34 million in average annual receipts. Check your business.

SBA footnote 9: NAICS codes 531110, 531120, 531130, and 531190 – Leasing of building space to the Federal Government by Owners: For Government procurement, a size standard of $47.0 million in gross receipts applies to the owners of building space leased to the Federal Government. The standard does not apply to an agent.

Source: SBA table of size standards, effective March 17, 2023.

Closest UK SIC 2007 codes

There is no official one-to-one link between NAICS and UK SIC. These codes share the same international class (ISIC Rev. 4: 6810), so treat them as a starting point and check the definition.

• 68100Buying and selling of own real estateUK SIC

Built from Census concordances 2022→2017 NAICS and 2017 NAICS→ISIC Rev. 4.

Similar codes to compare

• 531110Lessors of Residential Buildings and Dwellings
• 531130Lessors of Miniwarehouses and Self-Storage Units
• 531190Lessors of Other Real Estate Property