Posts in Northeast
LISTING: NY-8

MANHATTAN

A well-established (9 years under current ownership) specialty pharmacy located in the premier medical/hospital area of Manhattan. One block from five major NY hospitals, including NY Presbyterian, Cornell Weill, Sloan-Kettering, HSS, multiple physicians’ offices in the area, ALF and SNF facilities, this business continues to grow rapidly in key specialty pharmacy areas (described below), has a full line front end as well (the location was formerly an HBC store). FYE 12/31/18 showed reported sales of $7.75MM ++.  90% Rx sales. Full store margins of 16.5%++. The store is currently filling 46,000++ Rxs annually (average Rx price of $150.00 due to specialty transplant, psychotropic and HIV meds, limited traditional retail dispensing), growth is due to the addition of new exclusive referral business for transplant and psych business, plus some facility-driven business as well. $150K in highly profitable specialty compounding business included in these numbers. The pharmacy is open from 9-7 M-F, 9-3 Saturday. Front store is open 8:00AM-8:00PM 7 days a week. The store occupies a 1,500 sq. ft. space on the ground floor plus full basement. Current lease has more than ten years left, first five with no escalations whatsoever.  NET base rent after subsidies from two sub-tenants is $20,000.00 per month. The required payroll includes 1 FT Phcst, 1 PT Phcst, 2 FT techs, outside marketer, 3 FT clerks, 2 delivery men, PT bookkeeper. All existing personnel are experienced and knowledgeable about the customers and the local market. There is some seller financing available for a creditworthy and qualified buyer with a minimum equity contribution of $600K. This is an opportunity for an experienced pharmacy operator to continue to build on an established and rapidly growing specialty pharmacy business. Current specialty sectors include HIV, transplant, mental health and specialty compounding, for a very specific patient population with less than 10 standard formulas. Continuing increase in facility relationships combined with local sales and marketing efforts can drive this business to $10MM++ in sales in a relatively short period of time. The current owner has not exerted any effort in developing traditional retail pharmacy dispensing, which could add significant sales to this store in a very short period of time. Certain other operational adjustments will increase net profits rapidly.

  If interested in this listing, please contact Jack Collins.

NortheastBH
LISTING: NY-7

WESTCHESTER COUNTY

A well-established apothecary pharmacy located inside a busy, highly popular supermarket in this upscale, northern Westchester community.  This store serves a trading area of more than 10,000 people. with an average family income exceeding $120,000 annually, twice that of the NY State average. There is limited competition in the town, only one other independent and two chains, all three competitors being located on the opposite side of the community. Current financials indicate annual volume of $1.2MM for FYE 12/31/19 at 20% gross margins, 98% Rx sales. The store is currently filling 16,000++ Rxs annually, 24% cash, the balance traditional Managed Care plans. It is open from 9-7 M-F, 9-6 Saturday, 9-3 Sundays. 65 hours weekly. It occupies a 300 sq. ft. space inside an independently owned supermarket. Landlord will provide a new, long lease for a new owner with a starting base rent of $2,000.00 per month. The required payroll includes 1 FT Phcst, 1 PT Phcst, 1 PT clerk. Current owner is absentee. Current staff, PT pharmacist and clerk, 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 an easy to operate (at a relatively low cost of operation) apothecary pharmacy located in a very upscale suburban environment. Sales decline in recent years is due primarily to the lack of stable professional/managerial staff,  as the business is well located and inside the most popular and busiest supermarket in the area. This store needs a hands-on, motivated owner to communicate with patients and local prescribers in order to be brought back to prior volume levels (33% higher revenues just three years ago).

 If interested in this listing, please contact Jack Collins.

NortheastBH
NY-1

WESTCHESTER COUNTY

WESTCHESTER COUNTY - A long-established full-line pharmacy and surgical store located in a populous, upscale Westchester community.  Located just 25 miles from the Tappan Zee Bridge, 35 Miles from the GW Bridge, this store serves a trading area of more than 15,000 people There is NO independent competition in the immediate area, only large chains that do not meet the service needs of the local population. The store has a large and growing surgical supply business which is ALL CASH, no insurance billings. FYE 12/31/18 showed reported sales of $4.393MM, on track to generate $4MM in 2019.  Gross margins of more than 35% due to large ($850,000.00) multi-faceted, high margin, all cash surgical department sales. 5% other non-Rx sales, the balance ($3.5MM) Rx sales, which include $135K in compounding sales. The store is currently filling 38,000++ Rxs annually, 10% cash, the balance traditional Managed Care plans. Filling approximately 1,000 compounded Rxs annually as part of this mix, some cash, some third party billed. It is open from 9-7 M-F, 9-5 Saturday, closed nights, Sundays and holidays. 58 hours weekly.

The store occupies a 3,500 sq. ft. space which includes 500 sq. ft. of storage, inside a large, fully occupied medical office building.  Current rent is $16, 000.00 monthly including taxes and CAM and electricity. The required payroll includes 2 FT Phcsts, 3 FT techs, 2 FT clerks, PT bookkeeper, driver/stockperson. All existing personnel are experienced and knowledgeable about the customers and the local market. PRICE REDUCED BY MOTIVATED OWNER.  There is financing available for a creditworthy and qualified buyer with a reasonable equity contribution. This is an opportunity for an experienced pharmacist to purchase a long-established, highly profitable store in a pleasant, upscale suburban environment. This store has ample opportunity to grow, explore new niches and specialty opportunities, under new and motivated management. The surgical department is highly profitable, has limited competition for this niche anywhere in the local area. 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.

NortheastBH
CT-1

FAIRFIELD COUNTY

A long-established full line pharmacy and gift shop located in one of Fairfield’s County’s most upscale and affluent communities. This store serves a trading area of more than 10,000 people with the average family income exceeding $200,000 annually. There is NO competition in the immediate area, the nearest pharmacies (primarily chains and supermarket pharmacies) are located in other villages more than five miles away. FYE 12/31/18 showed reported sales of $3.76MM, stable trends over the past three years.. 87%+ Rx sales, full store margins of 24%. The store is currently filling 41,000++ Rxs annually, 4% cash, the balance traditional Managed Care plans.  It is open from 8-6 M-F, 8-5 Saturday, 9:30-1:00 Sunday. 62 hours weekly. It occupies a 2,500 sq. ft. space which includes 600 sq. ft. of storage.  Current rent is $8,900.00 monthly including taxes and CAM. There are two five-year options remaining on the lease commencing 1/1/2020. The required payroll includes 1 FT Phcst, 1 PT Phcst, 1 FT tech, 1 PT tech, front store manager, 1 FT clerk. 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 and highly profitable pharmacy in a pleasant, upscale suburban environment. This store has ample opportunity to grow, explore new niches and specialty opportunities, under new and motivated management. The current owner is NOT a pharmacist.  This is a great town and the store is well located, has an excellent reputation for customer service, no local competition whatsoever. 

 If interested in this listing, please contact Jack Collins.

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.

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

LISTING: NJ-1

SUSSEX COUNTY

 

A long-established (more than 100 years in this location, 8 under current ownership) full line pharmacy located in a pleasant upscale suburb in northern Sussex County. Located 60 miles northwest of mid-town Manhattan, 75 miles north of Edison, NJ, this store serves an upper middle-class trading area of more than 2,500 people, has no independent competition, only one chain store and a supermarket with a pharmacy in it. Neither of these pharmacies can provide the services that the consumers in this market require.  FYE 12/31/18 showed reported sales of $4.9MM, on track to deliver $5MM for FYE 12/31/19 despite current industry pressure on reimbursements in New Jersey. 90% Rx sales, full store margins of 22%. The store is currently filling 59,000++ Rxs annually, 1% cash, the balance traditional Managed Care plans. It is open from 9-8 M-F, 9-4 Saturday, 9-2 Sunday. 67 hours weekly. It occupies an 1,100  sq. ft. space and has ample additional storage space.   There is a new lease available for a new owner with a starting base rent of $4,000.00 per month. The required payroll includes 1 FT Phcst, 1 PT Phcst, 3 FT techs, 3 FT clerks, driver, 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, or a multi-store owner with other Jersey businesses, to purchase a long-established store in a pleasant, upscale 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.

If interested in this listing, please contact Jack Collins.

NortheastBHIn Contract