CT Urgent care (or blended care) Center For Sale.This is a brand new center with modern amenities and a great location – next to the #1 grocery store in the town. The center is built to handle a blended care model – of urgent care and primary care, since 50% of the patients did not have a primary ca…
CT Urgent care (or blended care) Center For Sale.
This is a brand new center with modern amenities and a great location – next to the #1 grocery store in the town. The center is built to handle a blended care model – of urgent care and primary care, since 50% of the patients did not have a primary care physician.
The market area has 110,000 households and 100's of Occ Med companies...and only 3 urgent cares in the area. Plenty of market to reach above market returns.
We sold smaller centers with more competition in their markets for $1.5M/center this past year while they were operational.
This center is not currently operational so is being sold at a 60% discount to the market rate.
There is a manager who will be willing to stay on and a very qualified physician who has previously owned an urgent care center (and also practices primary care) who can run the center at reduced salary in exchange for some equity ownership. This makes it a truly turn-key operation.
It is a beautiful, essentially new, upscale center, which is turnkey and being offered at the asset price. Includes 6 exam rooms, large PT space, Xray machine, all standard equipment for urgent care, new furnishings & technology.
The Center can also lease out some space to a complementary practice.
There is an interested physical therapy practice ready to move in at $2,000 per month rent, and bring in 15-25 PT patients per day, many of whom can also become this urgent care center’s patient.
There is also an audiologist interested in subletting the audiology equipment/room to further lower the monthly lease costs.
With the reduced salary of the doctor and the possible rent of physical therapy / complementary practice, the break-even point is expected to be in high teens to about 20 patients per day. During its brief open period, visits got to as high as 16/day.
Financing Option via current owner:
Sale price: $625,000
Hard asset Value: $625,000
Buyer must qualify with LL to take over full assumption of the lease (8 yr lease at $8,000/mo)
8 year lease assumption $8,000/mo.
Less subtenant(s) ($2,000-3,000)
Net Lease payment $5-6,000/mo
Center Financing
$275,000 Due at signing and lease assumption
Owner will finance the remaining $350,000 as follows (6% based on 30 Yr amortization):
Yr 1: Interest only payments $1,700/mo
Yr 2: P&I : $2,100/mo
Balloon payment at 24 months: $350,000- $20,000 of principal payments = $330,000
Owner will hold the equipment as collateral which is released to the buyer when the balloon payment is made.
Team (1)
Sectors ASAP Urgent Care serves:
Health Care
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