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.