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BIG CITY EARNINGS IN A SMALL TOWN LOCALE

Description: This is a very profitable solo family medical practice located in East Texas. The Owner is only working an average of 28 hours per week, in casual attire with a very relaxed atmosphere and is earning an income (discretionary earnings) of $367,000 on an average annual patient fee income of $575,000. The Practice was established in 1966, as a family owned practice, and is currently seeing an average of approximately 6,100 patients per year.

Both the Practice and the facility are being offered in a package deal. The total sales price is $929,000 ($250,000 for the facility, $579,000 for the Practice and $100,000 for X-ray, surgical suite, EKG and Developer). The facility is a standalone building consisting of 2,400 square feet with additional storage and covered parking on approximately 1 acre of land, including exclusive patient parking (25 spots). The space includes a waiting room, three private offices, 7 examination rooms (one of which is a surgical suite) and two lavatories (MD private restroom). Four of the examination rooms are equipped for OB/GYN treatments.

The Practice is located 100 miles from the nearest International Airport, 27 miles from a major medical center, and 8 miles from the nearest hospital. The community is growing and offers custom homes, golf, fishing, tennis and extensive outdoor activities. The local high school has excelled in UIL Academics.

In addition to the standard medical equipment and office equipment/furniture, the Practice is also selling: x-ray machine (lead lined x-ray room), developer, EKG (new), in house lab. The Practice has installed an Electronic Health Records system. A new owner will have the ability to convert part of the facility to Urgent Care which would increase patient volume.

Practice/Business Type: Primary Care>Family Practice
Opportunity Type: Practice For Sale
Region: North America
Country: UNITED STATES
State: TX
City: Confidential

Location Type: Small Town
Property Type: Free Standing Bldg.
FT Doctors: 1
PT Doctors: 0
Support Staff: 4
Exams/Ops/Lanes: 7
Facility Size: 2400 Sq Ft
Seller Assist: Seller can assist buyer with transition

Confidential, TX
Year Biz Established: 1966
Entity Type: Professional Corporation
Broker Contact OK: Y
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Biz Asking Price:    $579,000     
A/R Amount:    0    Included in asking Price: N
FF&E Amount:    $100,000    Included in asking Price: N
Inventory Amount:    0    Included in asking Price: Y
 
Real Estate Available for Purchase:    Y  
Real Estate Asking Price:    $250,000  
Year Built:    1966  
1031 Exchange:    N  
Gross Income Current
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Seller Discretionary Earnings Current
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Growth Potential: A new Owner will be able to increase patient income by 1) working more than 28 hours per week 2) adding urgent care/emergency care services, 3) adding OB/GYN to the services offered.
Reason For Selling: Retirement
Other Remarks: This is an outstanding opportunity. Don’t miss out! Contact Ken Harbin, Broker, 281-251-7166 or ken@practicebrokers.com for more information. All prospective buyers will be required to sign a Confidentiality Agreement and to submit a current Curriculum Vitae for the Owner’s review and approval. Detailed information will not be released without the Owner’s authorization.

Agent Profile

Medical Practice Brokers, Inc.
Ken Harbin
6211 Larkmount Dr.
Spring, TX 77389
281-251-7166
Fax: 888-603-1634
ken@practicebrokers.com
www.practicebrokers.com

More listings from this agent

Ken is an experienced business appraiser specializing in the medical field. His designations include the Certified Business Appraiser (CBA) from the 'Institute of Business Appraisers' and the Certified Valuation Analyst (CVA) from the 'National Association of Certified Valuators and Analysts'. Ken specializes in assisting in the sale of medical/dental practices. His area of operations includes: Texas, New Mexico, Oklahoma and Louisiana.

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