Posts in Northeast
NY-3

BROOKLYN-

BROOKLYN - A long-established (more than 40 years in this location) full line pharmacy located in a densely populated, middle class Brooklyn neighborhood (Midwood/Madison) This store serves a trading area of more than 100,000 people, has one other independent and three chains as its local competition. It is located on the major shopping street in the area, close to all major public transportation. FYE 12/31/18 showed reported sales of $4.755MM, projected sales of $5MM for FYE 12/31/19, 85% Rx sales, full. Store margins of 16%. The store is currently filling 60,000++ Rxs annually, 2% cash,15% Medicaid,  the balance traditional Managed Care plans. It is open from 9-7 M-F, 10-5 Saturday, 10-3 Sunday. 62 hours weekly. The store occupies a 2,000 sq. ft. space, subleases a small portion to an optical store. Net base rent is $12,500 per month. There is a new, long lease available for a new owner. The required payroll includes 1 FT Phcst, 1 PT Phcst, 2 FT techs, 3 FT clerks, delivery/stockperson, 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, middle-class, inner city neighborhood. This store has ample opportunity to grow, explore new niches and specialty opportunities, under new and motivated management. It requires local area marketing efforts to differentiate the store from the competition.

 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
NY-6

BROOKLYN - FOUR-STORE GROUP

The package consists of four pharmacies, the largest and oldest being a well -established (15 years in its current location under the same ownership) full line pharmacy that generated $10MM in sales in 2018. The other three stores are all recent start-ups, all located in busy, middle class Brooklyn neighborhoods, all growing nicely since inception.  Projected gross revenues for the group for 2019 exceed $16MM.  All stores are fully staffed and have favorable leases. The seller is a non-pharmacist, an absentee owner. This is an opportunity for an experienced multi-store pharmacy owner to purchase a well-established, high volume pharmacy and a group of rapidly growing “sister” stores all well located in populous Brooklyn neighborhoods. The owner has multiple other business interests and will make a very attractive deal for a serious buyer who has his own financing in place.  

If interested in this listing, please contact Tony DeNicola

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.

NortheastBH
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
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.

NortheastBH
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.

NortheastBH