NJ-2
New Jersey-Northeast - A well-established high-volume pharmacy (Over 19 years in business in the same location, 5 years under current ownership) located in Passaic County in Northern New Jersey, on the western border of Bergen County. Located 8 miles from the interchanges of I-80, RTE 46 and RTE 23, 20 Miles from Manhattan, 20 miles from Newark. This store serves an upper middle-class trading area of more than 50,000 people, is located in a strip mall in the main shopping area of the town, close to all retail and medical services, St Joseph’s Hospital, and William Paterson University. There are two other independent pharmacies in the town, a Walgreens and a CVS, none of which offer the high level of service, quality care and product selection of this Pharmacy. FYE 12/31/2022 was $4.953MM, up from $4.572MM in 2021. Gross margins of 19% overall. 5% OTC sales. The store also has a fully stocked Surgical Supply Products Department with a full time Surgical Specialist that generates customer traffic and sales. Currently filling 50,000++ Rxs annually, 4% blister packed for local Assisted Living Facility. 82% Generic Rxs, 18% Brand. 9% cash, the balance in traditional Managed Care plans.
Store hours are 9AM-7PM M-F, 9AM-4PM Saturday, 9AM-2PM Sunday, closed Thanksgiving and Christmas. 62 hours weekly. The store occupies 2,400 sq. ft. of space, 2,000 SF pharmacy and 400 SF storage. Current monthly rent is $9,404.94 per month including CAM and Taxes. Lease runs until 10/18/2023, with Two 5-year options. Landlord is open to discussing a new lease for a new owner. Required payroll includes Payroll includes 2 FT Phcst, 1 PT Phcst, 2 FT Tech, 1 PT Tech, 2 FT clerks, 1 FT Driver, 1 FT Surgical Products Specialist. All existing personnel are experienced and knowledgeable about the customers and the local market. This is an opportunity for an experienced pharmacist, a multi-store owner, to purchase a well-established, profitable store in a great location that is poised for continued growth. This store is well positioned in the community as a premier health care provider. With some reasonable marketing efforts, the store is ready to continue expansion into new, specialty niches under a new owner. This is a highly desirable location and an excellent business and investment opportunity. Motivated Sellers will listen to all reasonable offers.
If interested in this listing, please contact Jack Collins.