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Excellent Ophthalmology Practice In Henrico County For Sale

Henrico County, Virginia, US
Asking Price:
$200,000 Furniture / Fixtures included
Sales Revenue:
$154,845
Cash Flow:
$79,103

This is an excellent opportunity to acquire a well-known Ophthalmology practice with growth potential. Currently the doctor works 2 days per week.

Located in central Virginia, this full-service Ophthalmology practice is well known for years of personalized attention and professional care provided to its patients. With over five decades of specialized experience in Ophthalmology and preventative medicine, the doctor / owner is focused on providing the highest-level care that addresses a wide range of eye care. Over the years this business has built up a sizable and dedicated clientele by catering to each patient’s unique needs. The practice serves over one thousand active patients and sees fifteen to twenty patients per day.

Property Information

Real Estate:

Lease

Lease Terms:

Current lease runs through December 31, 2025.

Leasehold Rent:

$21,003 per annum

Location:

This practice is in the medical building of a community hospital.

Premises Details:

The Ophthalmology practice operates out of a leased space within a major hospital in Henrico County, Virginia. The facility includes two exam rooms, a waiting area and an office.

Size in square feet:
1,022

Business Operation

Expansion Potential:

The hidden gem in this practice, either for a solo practitioner looking to go out on their own or a group interested in expanding their geographic footprint, is the fact that the doctor only works two days per week. The opportunity to significantly improve the practice could be realized by increasing the hours of operation. Presumably, another doctor would be able to perform the surgeries that this doctor refers out today, contributing to increased revenue growth as well.

Competition / Market:

Ophthalmology has always been regarded as one of the most competitive medical specialties. There are one hundred and one licensed Ophthalmologists in Central Virginia. This covers the three main counties of Henrico, Chesterfield and Hanover. Having said this, the doctor is the only practicing Ophthalmologist in the region. His office is located in the medical building of a Community Hospital. Most patients are residents of the neighborhood. However, he sees many patients referred to him by the Veterans Administration. Additionally, this practice may be the only Ophthalmology office in the region that accepts Medicare.

Reasons for selling:

Retirement

Trading hours:

Tuesday and Wednesday 9AM to 3PM.

Employees:
3PT, plus owner and spouse
Years established:
50

Other Information

Financing available:

Seller may consider some level of financing for the right Buyer.

Relocatable:
This business can be relocated