Posts tagged In Contract
LISTING: NY-4

LONG ISLAND - SUFFOLK COUNTY

A well-established (more than 30 years in this location, 15 under current ownership) full line pharmacy and gift shop located in a pleasant, upper middle-class Western Suffolk city. The median family income is more than twice that of the average NY State family.  Located less than forty miles from Manhattan, away from the downtown commercial area, this store serves a trading area with a population of more than 20,000 people, has limited local independent competition, mostly large chains and supermarket pharmacies that do not provide the services required by the customers who reside in this area. FYE 12/31/17 reported sales were $2.53MM, up 10% from 2016. Will report 2.6MM++ in 2018 based on interim financial statements. 85%++ Rx sales, full store margins of 20%++, strong front-end sales due to gift department, nutritionals, sundries. The store is currently filling 28,000++ Rxs annually, includes some non-sterile compounding. Rx sales are 10% cash, the balance Managed Care. It is open from 9-8 M-F, 9-5 Saturday, 9-2 Sunday. 68 hours weekly. The store occupies a 3,200 sq. ft. space which includes 400 sq. ft. of storage. There is a new, five-year lease in place, runs to 2023. Landlord is open to extend the lease for a new owner. Current base rent is $7,152 monthly, plus CAM and taxes. The required payroll includes 1 FT Phcst (currently the owner shares these duties with another pharmacist), 1 PT Phcst,1 PT tech, front end manager/clerk, 1 FT clerk, driver.   All existing personnel are experienced and knowledgeable about the customers and the local market. This is an opportunity for a young pharmacist, a first-time buyer, to purchase a well- established and profitable store in a pleasant and conveniently located suburban environment. Limited competition and a population of upscale consumers make this an ideal opportunity for someone who values and understands this type of environment. There are many physicians and clinics in this market as well as a large local community hospital, ample opportunity to expand professional services and capitalize on specialty pharmacy opportunities. The store needs young, hands on, motivated management to market services to the local medical community. There is a large medical building (no pharmacy in it) directly next door to the pharmacy.

If interested in this listing, please contact Tony DeNicola

LISTING: NJ-1

SUSSEX COUNTY

 

A long-established (more than 100 years in this location, 8 under current ownership) full line pharmacy located in a pleasant upscale suburb in northern Sussex County. Located 60 miles northwest of mid-town Manhattan, 75 miles north of Edison, NJ, this store serves an upper middle-class trading area of more than 2,500 people, has no independent competition, only one chain store and a supermarket with a pharmacy in it. Neither of these pharmacies can provide the services that the consumers in this market require.  FYE 12/31/18 showed reported sales of $4.9MM, on track to deliver $5MM for FYE 12/31/19 despite current industry pressure on reimbursements in New Jersey. 90% Rx sales, full store margins of 22%. The store is currently filling 59,000++ Rxs annually, 1% cash, the balance traditional Managed Care plans. It is open from 9-8 M-F, 9-4 Saturday, 9-2 Sunday. 67 hours weekly. It occupies an 1,100  sq. ft. space and has ample additional storage space.   There is a new lease available for a new owner with a starting base rent of $4,000.00 per month. The required payroll includes 1 FT Phcst, 1 PT Phcst, 3 FT techs, 3 FT clerks, driver, bookkeeper. 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, or a multi-store owner with other Jersey businesses, to purchase a long-established store in a pleasant, upscale 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.

If interested in this listing, please contact Jack Collins.

NortheastBHIn Contract