Does USPS own real estate?

Most post offices are leased, but the USPS still owns more than 8,400 facilities, ranging from hole-in-the-wall post offices to massive sorting centers. Altogether, its portfolio encompasses nearly 200 million square feet of interior space and 900 million square feet of land.

How much real estate does the USPS own?

The USPS is one of the largest real estate holders in the nation, in fact, with a portfolio of 8,393 properties spanning 193 million square feet as of December 2019, according to the USPS’s annual report to congress.

Does the post office own their buildings?

Despite the ever-present American flags flying above all United States post offices, the United States Postal Service actually owns only 3,691 buildings. The remaining 28,743 post offices in the United States are leased from other owners. The purchase price for these buildings varies greatly.

What is USPS bureau or division?

The United States Postal Service (USPS; also known as the Post Office, U.S. Mail, or Postal Service) is an independent agency of the executive branch of the United States federal government responsible for providing postal service in the United States, including its insular areas and associated states.

How much land does the USPS own?

Who maintains postal property?

the United States Postal Service
Safety: The United States federal government guarantees the rental income, providing exceptional security on your investment. Availability: Only about 25% of all postal facilities in the U.S. are owned by the United States Postal Service. The remaining 75% are privately owned and leased to the USPS.

Who owns postal service?

the federal government
The U.S. Postal Service (USPS) is a large business enterprise operated by the federal government. It has more than 600,000 employees and more than $70 billion in annual revenues.

How much does USPS pay rent?

As noted in a recent OIG report, the Postal Service leases more than 23,000 buildings — about 79 million square feet of interior space — and pays more than $800 million annually in rent.

Are post office buildings a good investment?

Is Owning a Post Office Profitable? Post Offices will generally make returns from 5.75% to 9.0% per annum or more depending on the length of the lease term, maintenance and tax obligation per the lease and age and condition of the facility.

Can the post office be bought?

One of the main advantages of buying a post office is that you are purchasing the property “fee simple”, meaning that you own the land and the building, but are also buying the rights as the landlord to take over the lease with the U.S. Postal Service (“USPS”) as the tenant.

Who is the real estate company for the US Postal Service?

Los Angeles-based CBRE (aka CB Richard Ellis), the world’s largest commercial real estate firm, became the sole provider of real estate services for the Postal Service in 2011. The contract, as indicated in the Notice of Award, was for four years, starting June 24, 2011, with two 2-year options to renew.

How big is the USPS real estate portfolio?

Our real estate portfolio of approximately 32,000 buildings includes 274 million square feet of interior space. It’s vital that we manage and adapt our building portfolio to align with customer and organizational needs at a sustainable cost.

How many leased spaces does the USPs have?

The information contained in the report is provided by the United States Postal Service under the Freedom of information Act and should not be redistributed or resold. The Postal Service maintains more than 25,300 leased spaces in its facilities inventory nation wide.

Where can I find lease information for postal facilities?

Individual postal facilities can be accessed by clicking on the .csv file for a state or territory. The leased information is subject to change and will be updated periodically.