UNDER LOI – Pharmacy in the mid-Wilshire/Koreatown area of Los Angeles for sale. Located in a medical building, this store has been in business for 15 years. This pharmacy does retail prescriptions and has a loyal customer base. The owner is a pharmacist and employs one full time clerk and two part time clerks. The owner is also willing to stay on as a consultant and/or part time pharmacist working 1-2 days a week after the sale(not as the PIC but would work a couple of days a week) which will insure a smooth transition to the buyer.
The owner has built a very profitable business and is ready to retire from the day to day or running the business. The pharmacy did $5.45M in sales in 2022 with Owner Discretionary Income of $625,000. 2023 is on pace to do similar sales and about 5%-10% more in profit.
Patient base is largely Korean. The employees speak Korean, so the new owner would not need to, but it would help.
This is a great opportunity for a pharmacist who wants to buy a highly profitable pharmacy. All insurance contracts are in place and the license is clean with the Board of Pharmacy and DEA.
Mid-Wilshire/Koreatown, Los Angeles, California
$1,800,000 (Plus Inventory)
1 FT Clerk, 2 PT
Very nice pharmacy in a medical building with plenty of parking. 15 doctors
in the building.
1,800 square foot space paying $5,200 a month which includes NNN.
Lease terms are 5 years with a 5 year option.
Potential for a new buyer to come in market the pharmacy more
aggressively. The store only delivers 10-20 prescriptions per week so this could be an
area to grow the business.
A few independents and chain stores in the area.
Seller will provide training to help the buyer take over providing a
smooth transition while learning the business and its operating activities, gaining and
understanding of the customers and vendor partners, and building a working
relationship with the employees. Seller is also willing to work as a relief pharmacist 1-2
days a week but does not want to stay on as the PIC.
Owner is retiring.
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