Final answer:
Theaters and parking lots are classified as Commercial property, which is a category used in zoning regulations for areas intended for business activities.
Step-by-step explanation:
Theaters and parking lots are classified as Commercial property. This type of real estate is intended for businesses that provide goods and services and it is a common category for zoning regulations. Municipal zoning divides the city into areas including residential, commercial, and industrial, where the use of the property complies with specified zoning laws. Commercial properties can include shopping centers, offices, hotels, and other businesses that operate within a commercial zone.