- New Listing
- Price Reduced( )
Melrose, Iowa Post Office and residential property offers excellent cash-flow with modest investment. 15% net return on list price! This one-story, pole building is metal clad with metal roof; attractively landscaped; offers separate parking for post office on the east and apartment on west; covered mail delivery and small loading dock. Postal area includes lobby & large office/mail processing & receiving room, mail box room, bath and small storage room. Three-bedroom apartment on west includes kitchen, living, full bath and laundry room. A front and side deck provide dual entries for the apartment. 24-hour notice is required for showing; post office only available to show about 10 am. Post Office earns $7200/ year; apartment earns $6000/year and both are stable tenants. A small center business space was formally used as salon, is not currently leased, but could provide modest additional income. 15% net return on list price without income from this space!