Green Sail is happy to announce another outstanding practice purchase opportunity!
MID-SIZE GENERAL PRACTICE & BUILDING (FOR SALE BY OWNER)
$368,000 PRACTICE & $280,000 BUILDING (NEW PRICE!)
About the Practice:
Why burn money on a lease when you can own the office? This profitable general dental practice is located in a growing town in SW Washington and is an excellent opportunity for a doctor looking for a second office or a primary office to grow. In addition to the practice, the attractive building it is housed in is available for purchase directly from the owner. The current doctor has been splitting time with a second location that is closer to home, and has had to cut back on hours due to an illness in the family. On just 2 doctor days per week, the 4 operatory clinic has averaged $522,132 in collections the last 3 years. The practice is equipped with Schick digital x-rays, Eaglesoft, and paperless charts. It is also adding a newer digital panorex in the upcoming weeks.
About the Facility:
The practice is 1,700 square feet, with an additional 1,200 square foot two car garage and basement. It was recently equipped with new flooring and lighting. It has a spacious mid-century design and construction with plenty of room for storage. It has an inviting reception area, 4 operatories, a business office, private doctor’s office with a bathroom, a staff lounge, laundry facilities, a full basement with additional laundry and bathroom, sterilization room, and an 8-spot parking lot. The building includes opportunity to expand the practice, as its 480 square foot 2-car garage could be converted into office/clinic space. The building was recently valued at $300,000 and is being offered at a discount from the owner for $280,000. In addition to the flooring and lighting, recent updates include a new roof and heat pump.
About the Numbers:
On just 2 days per week, the current team collected $490,033 in 2018. The decline from the previous year was a result of fewer days worked. Adjusted net income was $273,734 (56% of collections). Hygiene was also performed just two days/week and consisted of 22% of production. There are 5,675 total patients of record, with approximately 686 active. The production is 71% insurance, 29% FFS and there are no DSHS patients. The buyer’s expected net income after debt payments is $221,887 with just the purchase of the practice, and $182,017 if building is included in the purchase, at the current production level.
- 3-year average collections = $522,132 on 2 doctor days
- 1,700 Square foot clinic
- 4 Operatories
- Eaglesoft software
- Digital X-rays
- Cranex Pan
- Empire, Marus and DCI chairs, lights and deliveries
- Lab, sterilization
- Private office with bath
- Full garage
- Business office area
- Private parking lot
- 2 restrooms
- Staff room with laundry
- Full basement with storage/laundry
- Approx. 700 active patients
- Endo equipment
- $273,734 adj. net income
- $182,017 buyer’s expected net income with purchase of practice + building