Union County - A well-established full line pharmacy located in a pleasant middle class city in Union County. Located just 15 miles southwest of mid-town Manhattan, 20 miles north of Edison, NJ, this store serves a middle class trading area of more than 120,000 people, is located in a primarily residential area, away from all the other pharmacies in the city. FYE 12/31/16 showed reported sales of $1.47MM, strong growth currently happening due to closure and consolidation of another store the seller owned in this market. Projected sales for 2018, based on current run rate, are $3MM++, 95% Rx sales, gross margins of 20%. The store filled 27,000 Rxs in 2016, current Rx count is exceeding 4,500 per month. Projecting 55,000 Rxs for 2018. 95% cash, the balance traditional Managed Care plans. The store is open from 9-8 Monday and Tuesday, 9-7 Wednesday through Friday, 9-5 Saturday, 10-2 Sunday. 64 hours weekly. The store occupies a 2,200 sq. ft. space plus has 1,800 sq. ft. of storage. It is co-located (same building, no common entrance or physical connection) with a coffee shop that is currently owned and managed by the pharmacy owners. The building will be sold along with the pharmacy, the coffee shop will be closed, a new owner can use for whatever purposes he or she feels it is best suited. Estimated current value of the building is $1.2MM, subject to final appraisal. The required payroll includes 1 FT pharmacist (the current owners are not pharmacists), 1 PT pharmacist, 1 FT tech, 1 PT tech, 2 FT clerks. 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 an experienced pharmacist, possibly a mult-store owner, to purchase a long-established store in a pleasant, middle class suburban environment. This store is growing rapidly and has amply opportunity to explore new niches and specialty opportunitis under new and motivated management. This is a large city and the store is well located. Real estate opportunity includes the ability to expand the pharmacy space, operate a separate business in the adjoining space currently housing the coffee shop, or leasing the coffee shop space to an new tenant.
If interested in this listing, please email Jack Collins.