LISTING: NY-1

MANHATTAN

A well-established  (14 years in this location) full line pharmacy and health food store with a full service juice bar and a large nutritional department,  located in a prime Upper East Side location.   This store serves an upper middle-class trading area of more than 20,000 people, most of whom are within walking distance of the store, has limited local independent competition, primarily large chains, CVS and Duane Reade.  FYE 12/31/17 showed reported sales of $3.47MM, up from $3.05MM in 2016. Owner is projecting $3.6MM for 2018.  25% front end sales (primarily high margin health food and nutritional products), full store margins of 25% gross. 10% of sales are cash. The store is currently filling 18,000++ Rxs annually, 5% cash, the balance traditional Managed Care plans. It is open from 9-7 M-F, 9-4 Saturday, closed Sundays and holidays. 57 hours weekly. It occupies a 3,700 sq. ft. space which includes 300 sq. ft. of storage. There is a long lease in place, current base rent of $31,000 monthly including taxes and CAM. The landlord is open to discussing a revision of the lease with a qualified and experienced buyer. The required payroll includes 1 FT Phcst  (the current owner is a non-pharmacist), 1 PT Phcst, 1 FT tech, front end manager, 2 FT clerks, driver. All existing personnel are experienced and knowledgeable about the customers and the local market. There is some owner financing available for a creditworthy and qualified buyer with a reasonable equity contribution. This is an opportunity for an experienced pharmacist with good marketing skills to purchase a store in a prime Manhattan location. The store is in a prime location, on a highly visible and busy corner, has ample opportunity to grow, explore new niches and specialty opportunities in one of the city’s largest healthcare environments. It needs aggressive external marketing/sales efforts to drive additional prescription volume. The front end is highly profitable, dominates the health food space in this health- oriented neighborhood.

If interested in this listing, please contact Jack Collins.

NortheastBHLetter of Intent