541.15—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.