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