Agricultural property is classified under which of the following real estate types?

Agricultural property is classified as nonresidential real estate because it is primarily used for farming, cultivation, and related activities rather than for housing or commercial transactions. This classification reflects its function and the nature of the land, which is dedicated to agricultural practices rather than residential living or commercial enterprise.

Nonresidential properties encompass a wide range of uses but typically are characterized by their purpose, which in the case of agricultural land, revolves around producing crops, raising livestock, and other farming-related activities. This distinguishes it from residential real estate, which is intended for living accommodations, and commercial properties, which are used for business operations. Mixed-use properties combine various functions, which doesn't apply to agricultural land that serves a singular purpose focused on food production or farming activities.

Therefore, categorizing agricultural property as nonresidential accurately captures its intended use and regulatory treatment in real estate classification systems.