Fast Growing Well Established Manhattan Apothecary & Pharmacy For Sale

Business description

Beautifully renovated Apothecary pharmacy located in rapidly gentrifying Manhattan neighborhood.Top of the line fixtures & craftsmanship.open only 3 years, is in one of the hottest parts of downtown Manhattan, very limited pharmacy competition, next pharmacy 5 blocks away. 7 years left on current lease, rent $5,240 The store features high end product lines (Mustella baby products, Solgar vitamins, high end hair care, etc)The pharmacy is currently filling 25,000 + rx's a year with the average price over $105.00 Currently doing some compounding with plenty of opportunity to grow this segment with some marketing.

Property information

Real Estate:

Lease

Lease terms:

Current lease has 7 years remaining with rent of $5,240 per month with standard retial increases.

Location:

Located on a very high traffic street, many Large national retailers in the area. (75,000 sq ft whole foods located on same block)very visable corner location with subway entrance / exit located steps from pharmacy entrance.

Other information

Expansion potential:

The growth of this pharmacy with the right person in charge is limitless. store is located in a very hot neiborhood with 10-15 new buildings opened within the past year (all completely rented with waiting list of up to 2 years)avg household income is $150k+, business would benefit from some mail marketing to residents & medical practices in neiborhood

Competition / Market:

very limited pharmacy competition as the closest pharmacy is located 5 blocks away (independent)closest chain store is 4 blocks + 1 avenue away.

Support & training:

Current employees are all experienced and knowledgeable about the customers & the local market. plus owner to provide some support

Reasons for selling:

current owner is deleveraging some non-core business to focus on other markets and other segements

Trading hours:

open M-F 8:30-8:00, 10-6 Sat, no nites, sundays or holidays 63 hours per week

Financing available:

There is some owner financing available for a creditworthy and qualified buyer to buy into a strong growth situation in an upscale and rapidly gentrifying marketplace in Manhattan. This store can provide a reasonable living for a new owner while paying down debt, this pharmacy will continue to grow with the person in charge. All potential buyers must show proof of funds for any financials to be released.

Furniture / Fixtures value:

$125,000 (included in the asking price)

Inventory / Stock value:

$175,000