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I was under the impression that commercial to residential is incredibly impractical because things like plumbing, electric, HVAC are all done very differently for resident and commercial needs.
This sounds good, but I am pretty sure it's prohibitively expensive and impossible in most cases.
Caveat: there was a huge thread on Reddit with engineers and architects talking about these types of plans. That's where I got my info, so I could be way off.
Sure, that's a factor that needs to be considered, but another factor that needs to be considered is the value of the land itself. You can build cheap housing out in the middle of nowhere all you want, but it doesn't matter how cheap it is if there are no jobs to pay for the housing and no services to get stuff like groceries conveniently.
Converting commercial properties to residential is certainly more expensive upfront, but it creates more housing where it actually is needed AND wanted, cities and suburbs.
You pretty much have to strip the interior ripping everything out for a modern office. So no your not of base. But they do turn old warehouses and buildings into apartments and lofts in cities fairly often though.