Manhattan - A long-established full line pharmacy (the store has been dispensing continuously in NYC for over 150 years) located in one of New York’s most affluent and upscale neighborhoods, the Upper East Side, in a zip code which has the highest per capita income in the City, if not the entire US. The immediate trading area includes wealthy permanent residents and many foreign tourists who frequent the expensive hotels in the area. This store has an impeccable reputation for servicing the health care needs of the clients as well as providing a unique high-end product mix of sundries and other high margin non-prescription products. FYE 12/31/16 sales were $2.314MM, with full store margins of 40%++ gross, 75% Rx sales, the balance high margin non-prescription products. The store is currently filling 5,500 Rxs annually, with an average Rx price well over $250.00. It does a small amount of compounding as well. The store does not accept any third party insurances except for one Medicare Part D plan. All other Rx sales are for cash customers only. The store is open from 8-7 Monday - Friday, 10-5 Saturday, closed Sundays and holidays. 63 hours weekly. It occupies a 1,350 sq. ft. retail space, has a full basement for storage. The landlord will provide a new, ten-year lease for a new tenant. The required payroll includes 1 FT Pharmacist (there are two owners who currently perform pharmacist duties) 1 PT Pharmacist,1 FT tech/front store manager, 1 Driver, 1 FT clerk. All personnel are long-tenured and experienced, knowledgeable about the customers and the local market. There is a unique employee benefit arrangement in place that enables the owner to provide excellent benefits at reasonable costs. The price has recently been reduced by motivated sellers. There is financing available for a creditworthy and qualified buyer with a reasonable/significant equity contribution. This is a unique opportunity for an experienced pharmacist who understands this market and its customer opportunities (wealthy people who pay cash for prescriptions, want excellent, no-hassle service), to grow the business. There is a large population of customers with similar needs directly to the north of the store. The majority of its current customers reside between 59th and 72nd Streets on the East Side. The store requires a customer-centric, marketing-oriented owner to maximize its potential. The current owners are heading towards retirement and have reduced their efforts to grow the business in recent years.
If interested in this listing, please email Tony De Nicola.
Dutchess County - A well-established (11 years in this location) full line pharmacy located in a pleasant small town in northern Dutchess County. Located just 90 miles north of New York City, this store serves a trading area of more than 3,000 people, has NO local competition whatsoever. The nearest independent is in Connecticut, more than five miles away across the state line. No chains within ten miles of the downtown area. FYE 12/31/16 showed reported sales of $1.7MM, stable trends over the past three years. 85%++ Rx sales, full store margins of 27%. The store is currently filling 23,000++ Rxs annually, 1% cash, the balance traditional Managed Care plans. It is open from 9-6 Monday - Frdiay, 9-4 Saturday (pharmacy – 52 hours weekly), front store open 9-6 Saturday, 9-5 Sunday as well. The store occupies a 5,000 sq. ft. space which includes 500 sq. ft. of storage. There is a new lease available for a new owner. Current base rent is $5,750.00 monthly including taxes and CAM. The required payroll includes 1 FT Pharmacist (currently an employee, as the store is absentee-owned) 1 PT Pharmacist, 1 FT Tech, Store Manager, 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 a young pharmacist, a first-time buyer, to purchase a well-established store in a pleasant, small town environment. This store has ample opportunity to grow, explore new niches and specialty opportunities, under new, hands on 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 email Tony De Nicola.
Brooklyn - A well-established (14 years in this location, original owner still working the store) full line pharmacy located in a densely populated north-central Brooklyn neighborhood. Located on the main shopping street in this part of the borough, directly across the street from the subway stop, the store serves a trading area of more than 20,000 people, has only one independent competitor and one chain store in the immediate area. Outstanding service reputation with local prescribers, clinics and patients, very well kept and well managed store. FYE 12/31/16 showed reported sales of $11.5MM, up 35% over 2015. 95%++ Rx sales, full store margins of 15%. The store is currently filling 135,000++ Rxs annually, 4% cash, 8% Medicaid, the balance traditional Managed Care plans, including managed Medicaid, some 340B (a provider to three local 340B clinics) as well. The store is open from 9:00-7:30 Monday - Friday, 9-4 Saturday, closed Sundays and holidays. 60 hours weekly. It occupies a 3,000 sq. ft. space which includes1,000 sq. ft. of storage. There is a new, long lease available for a new owner with a starting base rent of $7,500.00 monthly plus taxes. The required payroll includes 2FT Pharmacists (one of whom is the current owner), 4 FT techs, 2 FT clerks, 2 PT clerks, 2 FT drivers. 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 pharmacy operator to purchase a well-established, high volume, high profit store in a busy and continually gentrifying part of Brooklyn. This store has grown significantly in recent years, has positive referral relationships with local clinics and other health care providers, and has limited competition. It earns significant net profits, can easily service any debt incurred in the transaction and still provide a high return, whether for an absentee owner with other stores or a hands-on operator who wants to dig in and earn big money in a fast-paced work environment.
If interested in this listing, please email Jack Collins.