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