Profitable Retail Pharmacy in Orange County, Newport Beach area

Costa Mesa, CA (Orange County) (Relocatable)

Profitable Retail Pharmacy in Orange County, Newport Beach area
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Asking Price: $275,650

Cash Flow: $135,000

Gross Revenue: $1,275,685

EBITDA: $135,000

FF&E: $150,000

Inventory: N/A

Rent: $13,600 per Month

Established: 1935

Profitable Retail Pharmacy in Orange County, Newport Beach area

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Business Description

Great opportunity to invest in well established [opened in 1930s, per seller] Retail Pharmacy located in Huntington Beach/Costa Mesa/Newport Beach/Balboa Island area. Conveniently located near 405 and 55 highways. Most of major insurances are accepted, such as Medicare D/Medical [Medicaid], Express Scripts, Optum RX, Cigna, Blue Shield/Blue Cross, Anthem, Molina, Caremark/CVS, Humana, NPI Co-OP. DEA accredited. The Pharmacy is set up as a mini Rite-Aid/CVS, has about 8,000 s.f, selling lots of OTC merchandise with high profit margin. Well established referrals from local patients. Bill Payment Center [Western Union type] brings many customers and additional income. No much marketing is done, great opportunity to contact local retirement homes, Medical offices, Boarding Cares, RCFEs, Hospices, Home Health Care Agencies, etc. Pharmacy fills ~50 scripts a day. 3 years ago [before seller’s health issues started], ~275-300 scripts were filled. Wholeseller is ABC Software is Cerner - Etreby. Over 100 K was spent on Tenant Improvement. Average Gross is about 1.2M, Cash Flow is around 150K [including PIC salary]. Current PIC may stay if needed for a reasonable period of time. Save time and headache opening new Pharmacy and applying for all insurances. Seller is retiring, so long term POA may be granted to qualified buyer. Excellent lease terms and options. Open 6 days a week. Motivated seller. We are looking for licensed PharmD’s. Management agreement is possible for qualified buyer. [In-state PharmD]. Seller agrees to give a Power of Attorney for all his insurances while buyer is being re-certified [upon seller’s due diligence and buyer’s clear background check]

Call Alex Levitan-Pacific Business Broker (818)640-8080, or email levchik@yahoo.com and request an NDA.

Financial Statements, Inventory Count, and any additional information will be gladly presented to qualified buyers during due diligence. Proof of funds is required. Seller is motivated. All of the above information per Seller please rely on your own due diligence on market conditions and this industry before making any commitment and decision making.

Detailed Information

Location:
Costa Mesa, CA
Real Estate:
Leased
Building SF:
8,000
Lease Expiration:
N/A
Employees:
3
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Support & Training:
Seller will train
Reason for Selling:
Retiring, Health Issues
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(from currently available funds)
 
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Alex Levitan

Business Listed By:
Alex Levitan

Pacific Business Advisors


Sponsoring Broker:
Fred Mercuro

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Ad#:1780128

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