BROOKLYN - TWO-STORE GROUP
A well -established (15 years in this location under the same ownership) full line pharmacy combined with a recently opened (July 2018) apothecary pharmacy, located one block away from the main store. These stores reside in a densely populated, middle class South Brooklyn neighborhood. They serve a trading area of more than 50,000 people, are both well-located in busy shopping centers on the main shopping street in the area. There is limited independent competition in the area, mostly large chains that do not serve the needs of the local patient population. Projected combined revenues of the two stores is $12MM++ for 2019. The larger store reported $10MM in sales for 2018 at 14% gross margins. The newly-opened apothecary is currently running at an annual rate of over $2.2MM, growing every month, at gross margins of 20%. There are good leases in place in both stores with total rent at less than 1.5% of gross sales. The stores are both fully staffed with experienced and knowledgeable personnel, absentee managed by the current owner. This is an opportunity for an experienced pharmacy owner to purchase a well-established, high volume pharmacy and a rapidly growing “sister” store in a busy Brooklyn neighborhood. There is a large adult daycare center directly between the two shopping centers, a pending 340B contract with a large local hospital and a number of other solid business development opportunities available for an aggressive owner with marketing skills. The stores are fully staffed and have excellent reputations in the neighborhood for good customer service. When combined, the two make a powerful combination (over $12MM in annual sales) with plenty of room to grow.
If interested in this listing, please contact Tony DeNicola