LISTING: NY-5

BROOKLYN

A newly established independent pharmacy (opened in 2015) located in a middle-class Brooklyn neighborhood, at the northern end of Sunset Park. The store is right across the street from a large metropolitan hospital, close to all major highways and transportation hubs. A brand-new buildout, well-merchandised, limited competition in the neighborhood, only one other independent and a Duane Reade store. Reported volume of $1MM in 2018, 95% Rx sales, full store margins of 35%++. January 2019 Rx revenues reached $100,000.00.  The store filled 17,000++ Rxs in 2018, including some local senior home scripts and hospital Rxs. Rx margins are very high due to certain “specialty” dispensing activities. The store is open from 9-7 Monday through Friday, closed Saturdays and Sundays. 50 hours weekly. It occupies an 800 sq. ft. retail space and has 1,200 sq. ft. of basement storage as well. It is subleasing from the adjoining tenant. Lease runs through 2024, current rent is $4,921 monthly including tenant’s share of taxes and CAM, plus utilities. The required payroll includes 1 FT Phcst (the current owners are absentee, SP is an employee pharmacist), 1 FT tech, 2 PT clerks. All existing personnel are experienced and knowledgeable about the customers and the local market. This is an opportunity for a young pharmacist, a first-time buyer, to purchase a relatively new store in a well-established, rapidly gentrifying Brooklyn neighborhood.  This store has ample opportunity to grow, explore new niches and specialty opportunities, under new and motivated hands-on management. Current owners, an out of town investment group, are currently focused on other projects (they bought the store from the original owner in 2017) and have decided to sell and move on. This is an excellent area and an excellent location. The cost of entry is the same or less than that of opening a new store and the business is already generating $1MM in sales. If you were perhaps contemplating a start-up of some kind, this is a far better opportunity.

 If interested in this listing, please contact Jack Collins.

NortheastBH
NC-1

NORTH CAROLINA

A long-established (47 years under the same ownership) full line pharmacy located in a pleasant mid-sized city in Edgecombe County.  Located 70 miles east of Raleigh, 240 miles northeast of Charlotte, 130 miles south of Richmond, VA, this store serves a trading area of more than 15,000 people, has only one independent competitor and two large chains, neither of whom provide the services that the consumers in this market require. FYE 12/31/18 showed reported sales of $4.35MM, reflecting consolidation of two stores (one of which was downtown) in late 2017.  95% Rx sales, full store margins of 18%. The store is currently filling 85,000++ Rxs annually,15% cash, the balance traditional Managed Care plans. In addition to a traditional retail prescription business, the pharmacy services local nursing homes, assisted living sites and independent living facilities, providing special packaging where required. This business amounts to approximately 10,000 prescriptions annually. The store is open from 9-5:30 M-F, 9-1 Saturday, closed Sundays and holidays.46 hours weekly. It occupies a 2,000 sq. ft. space which includes 200 sq. ft. of storage. It occupies a free-standing building with ample on-site parking and a drive up window. There is a new lease available for a new owner with a starting base rent of $4,000.00 monthly.  Possible real estate investment for a credit-worthy buyer with a reasonable equity contribution. The required payroll includes 1 FT Phcst, 1 PT Phcst, 3 FT techs, 2 FT clerks, FT driver. All existing personnel are experienced and knowledgeable about the customers and the local market. There is some financing available for a creditworthy and qualified buyer with a reasonable equity contribution. This is an opportunity for a young pharmacist, a first-time buyer (or a multi-store owner who wishes to add a store to an existing network of pharmacies), to purchase a long-established store in a pleasant, semi-rural environment with easy access to major population centers and the Carolina coastal areas. This store has ample opportunity to grow, explore new niches and specialty opportunities, under new and motivated management. The recent consolidation of the current owner’s two pharmacies, which is now fully completed, has created a single, high-volume business, operating very efficiently under one roof with limited hours of operation. This is a pleasant small town, with excellent living conditions, and the store is well located, has an long-standing reputation in the community for customer service

If interested in this listing, please contact Larry Greenfield.

SoutheastBH
LISTING: PA-2

NORTHERN PENNSYLVANIA

A long-established (65 years in this location, 32 under current ownership) full line pharmacy located in a pleasant, mid-sized town in northern Pennsylvania.  Located just 40 miles south of Erie, PA, 90 miles north of Pittsburgh, this store serves a middle-class trading area of more than 14,000 people, has limited independent competition, in the local market, mostly large chains that do not provide the services that the consumers in this market require.  FYE 12/31/17 showed reported sales of $3.67MM. Interim financials for 2018 indicate a $3.55MM run rate for 2018. 90%++ Rx sales, full store margins of 20%++. The store is currently filling 50,000++ Rxs annually, 6% cash, the balance traditional Managed Care plans. This includes 400++Rxs/month for local ALF residents, packaged in blister packages. It is open from 9-6 M-F (9-5 Wed), 9-3 Saturday closed Sundays and holidays.50 hours weekly. It occupies a 3,200 sq. ft. space which includes1,000 sq. ft. of storage. Business owner owns the building, will offer a new, long lease with a starting base rent of $1,400 per month. Possible real estate acquisition for a qualified buyer. The required payroll includes 1 FT Phcst, 1 PT Phcst, 3 FT techs, 2 FT clerks, driver. All existing personnel are experienced and knowledgeable about the customers and the local market. There is some financing available for a creditworthy and qualified buyer with a reasonable equity contribution. This is an opportunity for a young pharmacist, a first-time buyer, to purchase a long-established store in a pleasant, middle-class small-town environment. This store has ample opportunity to grow, explore new niches and specialty opportunities, under new and motivated management. This is a great town with good demographics (see attached demographic information). The store is well-located, has an excellent reputation for personalized customer service.

If interested in this listing, please contact Jack Collins.

NortheastBHLetter of Intent
VA -1

SOUTHEASTERN VIRGINIA

A long-established (18 years, 8 in its current location), full line pharmacy located in a pleasant  suburb in King William County. Located just 40 miles east of Richmond, 140 miles southeast of Washington, DC, this store serves a middle-class trading area of more than 7,500 people, has NO local independent competition, only one other pharmacy, a Rite Aid, located in the town. FYE 12/31/17 showed reported sales of $3.96MM, stable trends over the past three years. Interim 2018 results are trending to $4.3MM in sales for FYE 12/31/18.   90%++ Rx sales, full store margins of 18%++. The store is currently filling 68,000++ Rxs annually, 8% cash, the balance traditional Managed Care plans. It is open from 8:30-6:30 M-F, 8:30-2 Saturday, closed Sundays and holidays.  55 hours weekly. It  occupies a 3,900 sq. ft. space which includes 400 sq. ft. of storage. The building has two tenants in addition to the pharmacy, both healthcare practitioners. The pharmacy owner also owns the building,  would like to sell the property along with the business, or will provide a long term lease for a new owner. The required payroll includes 1 FT Phcst, 1 PT Phcst, 3 FT techs, 3 FT clerks, PT bookkeeper, stockperson.  All existing personnel are experienced and knowledgeable about the customers and the local market.  There is financing available for a creditworthy and qualified buyer with a reasonable equity contribution. Purchase of the real estate will have a positive effect on the terms of the financing package. This is an opportunity for a young pharmacist, or a multi-store owner, to purchase a well-established and profitable store in a pleasant, middle class suburban environment. This store has ample opportunity to grow, explore new niches and specialty opportunities, under new and motivated management. This is a great town and the store is well located, has an excellent reputation for customer service, limited local competition. An ideal situation in many respects.

If interested in this listing, please contact Larry Greenfield.

SoutheastBH
LISTING: PA-1

PITTSBURGH

A long-established (more than 100 years in this location, 42 under current ownership) full line pharmacy located in an upscale area of East Pittsburgh.  Located just east of the downtown area, this store serves a trading area of more than 15,000 people, is co-located with the finest stores and restaurants in the city.  There is limited independent competition in the area, mostly large chains that do not provide the services and products that the consumers in this market require. FYE 12/31/17 showed reported sales of $2.64MM, stable trends over the past three years. 85%+ Rx sales, full store margins of 25%. The store is currently filling 24,000++ Rxs annually, 8% cash, the balance traditional Managed Care plans. It is open from 9-7 M-F, 9-5 Saturday, 11-2 Sunday. 62 hours weekly. It occupies a 1,500 sq. ft. space which includes 250 sq. ft. of storage. The current lease runs through 2026, current rent is $5,400 monthly. The required payroll includes 1 FT Phcst, 1 PT Phcst, 1 FT tech, FT cosmetician, 2 FT clerks, driver. All existing personnel are experienced and knowledgeable about the customers and the local market. There is some financing available for a creditworthy and qualified buyer with a reasonable equity contribution. This is an opportunity for a young pharmacist, a first-time buyer, to purchase a long-established store in a pleasant, upscale urban environment. This store has a great reputation in this market for customer service and a product mix that is not found locally in any of its competitors. Close proximity to two major universities and large health care facilities provide ample opportunity to grow, explore new healthcare niches and specialty opportunities to build Rx volume, under new, hands-on, motivated management.

If interested in this listing, please contact Larry Greenfield.

MidwestBHLetter of Intent
LISTING: NY-2

STATEN ISLAND

A long-established (50 years in this location,10 under current ownership) full line pharmacy located in a busy and densely populated, middle class Staten Island neighborhood. Located just 25 miles west of mid-town Manhattan, 15 miles north of Edison, NJ, this store serves an affluent (median family income of more than $90,000.00 annually) trading area of more than 20,000 people, has only one independent competitor, the rest are large chains, who do not provide the services that the consumers in this market require.  FYE 12/31/17 showed reported sales of $7.34MM, currently on track to report $7.35MM in 2018.  95%++ Rx sales, full store margins of 25%, due to a solid compounding business. The store is currently filling 68,000++ Rxs annually,254% cash, the balance traditional Managed Care plans. Compounding (non-sterile only) 500 Rxs per month on average. It is open from 9-8 M-F, 9-6 Saturday, 9-3 Sunday. 69 hours weekly. It occupies a 3,600 sq. ft. space which includes 1,500 sq. ft. of storage. There is a new lease in place through 2023 that has three additional five-year options. Current base rent is $8,000.00 monthly plus taxes and CAM. The required payroll includes 3 FT Phcsts (1 strictly for compounding), 4 Ft techs + 1 compounding tech, store manager, office manager, PT bookkeeper, 2 PT stock and delivery personnel. There is financing available for a creditworthy and qualified buyer with a reasonable equity contribution. This is an opportunity for an experienced pharmacist to acquire a long-established high volume, profitable independent pharmacy located in one of the most upscale parts of Staten Island. The business is diverse, includes a solid compounding component, and is fully staffed with experienced personnel. There is a long lease in place. Limited local independent competition provides ample opportunity to grow the business with aggressive external marketing and the exploration of additional specialty niches. This is also an ideal situation for a multi-store owner who would like to add an additional location in the five boroughs to his/her existing portfolio of stores.

If interested in this listing, please contact Jack Collins.

NortheastBHLetter of Intent
LISTING: NY-4

LONG ISLAND - SUFFOLK COUNTY

A well-established (more than 30 years in this location, 15 under current ownership) full line pharmacy and gift shop located in a pleasant, upper middle-class Western Suffolk city. The median family income is more than twice that of the average NY State family.  Located less than forty miles from Manhattan, away from the downtown commercial area, this store serves a trading area with a population of more than 20,000 people, has limited local independent competition, mostly large chains and supermarket pharmacies that do not provide the services required by the customers who reside in this area. FYE 12/31/17 reported sales were $2.53MM, up 10% from 2016. Will report 2.6MM++ in 2018 based on interim financial statements. 85%++ Rx sales, full store margins of 20%++, strong front-end sales due to gift department, nutritionals, sundries. The store is currently filling 28,000++ Rxs annually, includes some non-sterile compounding. Rx sales are 10% cash, the balance Managed Care. It is open from 9-8 M-F, 9-5 Saturday, 9-2 Sunday. 68 hours weekly. The store occupies a 3,200 sq. ft. space which includes 400 sq. ft. of storage. There is a new, five-year lease in place, runs to 2023. Landlord is open to extend the lease for a new owner. Current base rent is $7,152 monthly, plus CAM and taxes. The required payroll includes 1 FT Phcst (currently the owner shares these duties with another pharmacist), 1 PT Phcst,1 PT tech, front end manager/clerk, 1 FT clerk, driver.   All existing personnel are experienced and knowledgeable about the customers and the local market. This is an opportunity for a young pharmacist, a first-time buyer, to purchase a well- established and profitable store in a pleasant and conveniently located suburban environment. Limited competition and a population of upscale consumers make this an ideal opportunity for someone who values and understands this type of environment. There are many physicians and clinics in this market as well as a large local community hospital, ample opportunity to expand professional services and capitalize on specialty pharmacy opportunities. The store needs young, hands on, motivated management to market services to the local medical community. There is a large medical building (no pharmacy in it) directly next door to the pharmacy.

If interested in this listing, please contact Tony DeNicola

NortheastBH
LISTING: NJ-1

HUDSON COUNTY

A long-established (over 80 years in this location, 54 years under current ownership) full line pharmacy located in a New Jersey’s second largest city, which is situated at the NJ exit/entry into the Holland Tunnel. This store serves a very mixed middle-class trading area of more than 20,000 people (in the immediate neighborhood), the kind of people who value the services on an independent pharmacy. FYE 12/31/17 showed reported sales of $1.86MM, down from a high of $2.18MM in 2215. Projecting $1.925MM FYE 12/31/18. 95+ Rx sales, full store margins of 22%. This store is currently filling 28,000++ Rxs annually, 4% cash, the balance traditional Managed Care plans. It is open from 9-9 M-F, 9-6 Saturday, 9-2 Sunday. 74 hours weekly. The store occupies a 3,100 sq. ft. space which includes 100 sq. ft. of storage. There is a new, long lease available for a new owner with a starting base rent of $1,500.00 monthly. Store owner owns the building as well. The required payroll includes 1 FT Phcst (the current owner), 1 PT Phcst, 2 FT techs, 2 FT clerks, driver. All existing personnel are experienced and knowledgeable about the customers and the local market.  There is some financing available for a creditworthy and qualified buyer with a reasonable equity contribution. This is an opportunity for a young pharmacist, a first-time buyer, to purchase a long-established store in a busy, urban environment. This store has ample opportunity to grow, explore new niches and specialty opportunities, under new and motivated management. It needs a young and enthusiastic hands on owner to seek out the professional opportunities in this populous market. The store has been a pillar of the local community, on the same corner, for more than 80 years.  

If interested in this listing, please contact Jack Collins.

NortheastBHIn Contract
LISTING: CA-1

LOS ANGELES -

LOS ANGELES - A well-established compounding pharmacy located in a prime West LA neighborhood. Easy access from I-10 and I-405 Freeways. This compounding only pharmacy provides compounded prescriptions for patients in 33 states on a CASH ONLY basis - no third-party payments. FYE 12/31/17 shows $2MM in reported sales Current run rate is $135,000.00 per month, annualizing at $1.6MM for the year ending 12/31/18. Gross profit is 75%.The store is currently filling 17,000++ Rxs annually, 95% of which are for CA patients, the balance scattered throughout the other 32 states in which the store is licensed. It is open from 9:00AM - 6:00PM Monday through Friday, no nights or weekend hours. 45 hours weekly. It occupies a 2,625 sq. ft. space which includes 500 sq. ft. of storage. The current lease expires in 2021, has a base rent of $9,382 per month. Landlord is open to providing a new lease for a new owner. The store utilizes PK Software, is USP 800 compliant, has a fully equipped, state-of-the-art compounding lab. The required payroll, in addition to an owner who is a compounding pharmacist, is 1 FT Phcst, 3 FT techs, 3 FT clerks and a shipping clerk. All existing personnel are experienced and knowledgeable about the customers and the local market. Asking price significantly reduced. Owner has other business interests, is highly motivated to sell soon. This is an opportunity for an experienced compounding pharmacist to purchase a well-established compounding pharmacy located in a prime LA neighborhood. This pharmacy can provide significant earning potential for a new owner while paying down any debt incurred in the transaction. The fact that the store serves only cash paying patients, coupled with the fact that it is USP 800 compliant and licensed in 33 states, adds much value to this opportunity.

If interested in this listing, please contact Steve Wagner.

WesternBH
LISTING: NJ-2

BURLINGTON COUNTY

A long-established (35 years in this location under current ownership) full line pharmacy located in a pleasant middle class suburb in Burlington County. Located just 28 miles south of Trenton, 27 miles east of Philadelphia, 55 miles southwest of Edison, NJ, this store serves a trading area of more than 8,000 people, has no local independent competition in the Township, only one large chain, CVS, which does not provide the services that the consumers in this market require. FYE 6/30/17 showed reported sales of $2.05MM, down slightly from prior year, $1.66MM for FYE 6/30/18. 85%++ Rx sales, full store margins of 23%. The store is currently filling 20,000++ Rxs annually, >1% cash, the balance traditional Managed Care plans. It is open from 9:30-8 Monday - Friday, 9:30-3 Saturday, closed Sundays and holidays. 58 hours weekly. It occupies a 3,100 sq. ft. space which includes 600 sq. ft. of storage. There is a long lease in place that is assumable by a new owner. Current base rent is $2,500.00 monthly. A very well organized and well merchandised store. The required payroll includes 1 FT Pharmacist (the current owner, who is the PIC), 1 PT Pharmacist, 1 FT tech, 4 PT techs, PT bookkeeper. All existing personnel are experienced and knowledgeable about the customers and the local market. There is some financing available for a creditworthy and qualified buyer with a reasonable equity contribution.. This is an opportunity for a young pharmacist, a first-time buyer, to purchase a long-established store in a pleasant suburban environment. This store has ample opportunity to grow, explore new niches and specialty opportunities, under new and motivated management. It can provide a comfortable living for an owner-operator while servicing any debt incurred in the transaction. This is a great town and the store is well located, has an excellent reputation for customer service.

If interested in this listing, please contact Jack Collins.

NortheastBHIn Contract
LISTING: IL-1

CHICAGOLAND

A well-established and rapidly growing closed door/LTC pharmacy located in the southwest Chicagoland market. Currently servicing around 650 patients (beds), the pharmacy provides high quality pharmacy services to a broad mix of patients. The business’ reputation for excellent service and patient care has enabled it to deliver significant growth in its fourth year of operation. FYE 12/31/17 showed reported sales of $2MM, projected revenues for 12/31/18 are $3MM based on significant addition of new clients late last year. 32% gross margins. The business is currently servicing 633 beds, a mix of ALFs, Senior Living Communities and Group Homes, approximately 7,500 Rxs monthly with a broad mix of payers and contracts with all major insurances. It is open from 8:00AM to 5:00PM Monday through Friday, no nights or weekends, 45 hours weekly. Minimal out of hours service requirements. It occupies a 2,000 sq. ft. space which includes 350 sq. ft. of storage. There is a new lease available for a new owner. Current base rent is $3,500.00 monthly plus taxes and CAM. The required payroll includes 1 FT Pharmacist, 1 PT Pharmacist, 3 FT techs, 1 FT clerk, FT bookkeeper/billing clerk, driver, courier service. All existing personnel are experienced and knowledgeable about the customers and the local market. There is some financing available for a creditworthy and qualified buyer with a reasonable equity contribution. This is an opportunity for an experienced pharmacist who wants to expand into LTC providing to purchase a rapidly growing and profitable turn-key, closed door Pharmacy. It is fully staffed and fully equipped, positioned to continue to grow, under new and motivated management. The local market has a population of over 600,000 people and provides significant additional growth opportunities based on its demographics. Convenient location enables the business to serve all of the Chicagoland market.

If interested in this listing, please contact Larry Greenfield.

Upper MidwestBH