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Internal Medicine Practice for Sale in Broward County, Florida - SOLD

Description: The practice is located in a professional building in Broward County, Florida.    The office consists of 1,500 square feet and offers multiple parking spots. 

The office consists of a large centralized waiting area with 8 chairs, 3 examination rooms, a nurse’s stations and lab area.  A lavatory is present.  The layout allows for ease of patient flow and efficiency of physician movement.
 
Patients are seen primarily by appointment with only 5% of the patient visits by walk-in.  Average patient appointment length is 15 minutes.  The physician takes out patient calls.

The current lease is $2,500 per month plus $150 in taxes per month.
Practice/Business Type: Primary Care>Internal Medicine
Opportunity Type: Practice For Sale
Region: North America
Country: UNITED STATES
State: FL
City: Broward County

Location Type: Urban
Property Type: Professional Office Bldg.
FT Doctors: 1
PT Doctors: 0
Support Staff: 5
Exams/Ops/Lanes: 3
Facility Size: 1500 Sq Ft
Seller Assist: Seller can assist buyer with transition
Seller Work: Seller willing to work in practice after closing at buyer discretion

Legal Name: Call for information
Confidential
Broward County, FL
Year Biz Established: 1987
Entity Type: Sole Proprietor
Broker Contact OK: Y
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Biz Asking Price:    $299,000     
A/R Amount:    N/A    Included in asking Price: N
FF&E Amount:    6,000    Included in asking Price: Y
Inventory Amount:    500    Included in asking Price: Y
 
Gross Income Current
0
Prev Yr1
462,666
Prev Yr2
472,412
Prev Yr3
529,691
Seller Discretionary Earnings Current
0
Prev Yr1
234,832
Prev Yr2
218,674
Prev Yr3
139,774
History: The practice was started in 1987.  The practice was moved into its current location in 2005.
Growth Potential: The physician currently works 23 patient contact hours per week.  With the addition of weekday patient office hours plus occasional weekends, plenty of growth potential without increasing overhead.

The addition of hospital visits plus addition of physician extenders would also offer growth potential.
Reason For Selling: Physician wishes to retire

Agent Profile

Medical Practice Brokers, Inc.
Terry Flanagan
7740 Foresthill Lane
Palos Heights, IL 60463
1-877-988-0911
Fax: 708-361-3220
terry@practicebrokers.com
www.practicebrokers.com

More listings from this agent

Terry Flanagan is our Medical Practice Sales Group affiliate in the Midwest region.

PROFESSIONAL EXPERIENCE

Terry was in practice as a chiropractor for twenty-five years.  During that period he has practiced as a solo practitioner, as a clinic director and as a primary care physician in a multi-specialty medical clinic.  His experience and knowledge of various physician operating structures provides both buyers and sellers with the insight necessary to attain their personal goals. He holds the prestigous Certified Business Intermediary (CBI) designation through the International Business Brokers Association.

Terry is also the owner of Circumference Valuations (www.CircumferenceValuations.com), a valuation company providing financial appraisals for professional practices and small to middle market companies.  Terry has taken extensive valuation training through the American Society of Appraisers (ASA), National Association of Certified Valuation Analysts (NACVA) and the Institute of Business Appraisers (IBA).  He is an accredited valuation analyst (AVA) through NACVA and is a Certified Business Appraiser (CBA) through the IBA.  He has extensive expertise in the valuation, negotiation and sales of professional practices.

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