Posts tagged Letter of Intent
LISTING: PA-1

PITTSBURGH

A long-established (more than 100 years in this location, 42 under current ownership) full line pharmacy located in an upscale area of East Pittsburgh.  Located just east of the downtown area, this store serves a trading area of more than 15,000 people, is co-located with the finest stores and restaurants in the city.  There is limited independent competition in the area, mostly large chains that do not provide the services and products that the consumers in this market require. FYE 12/31/17 showed reported sales of $2.64MM, stable trends over the past three years. 85%+ Rx sales, full store margins of 25%. The store is currently filling 24,000++ Rxs annually, 8% cash, the balance traditional Managed Care plans. It is open from 9-7 M-F, 9-5 Saturday, 11-2 Sunday. 62 hours weekly. It occupies a 1,500 sq. ft. space which includes 250 sq. ft. of storage. The current lease runs through 2026, current rent is $5,400 monthly. The required payroll includes 1 FT Phcst, 1 PT Phcst, 1 FT tech, FT cosmetician, 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 pleasant, upscale urban environment. This store has a great reputation in this market for customer service and a product mix that is not found locally in any of its competitors. Close proximity to two major universities and large health care facilities provide ample opportunity to grow, explore new healthcare niches and specialty opportunities to build Rx volume, under new, hands-on, motivated management.

If interested in this listing, please contact Larry Greenfield.

MidwestBHLetter of Intent
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