Psychiatry Practice for Sale in Brooklyn

Brooklyn, NY (Kings County)

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Asking Price: $120,000

Cash Flow: $163,251

Gross Revenue: $297,127

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Rent: $3,565.83 /Month

Established: 1990

Psychiatry Practice for Sale in Brooklyn

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Business Description

Revenue: FY 2018 $297,127
Net Cash Flow: FY 2018 $163,251 with Doctor working 2 days per week
Reason for selling: Owner has another practice in NJ and wishes to ease commuting burden
Terms of Sale: $120,000

For sale is a Psychiatry Practice located in Brooklyn, NY that was established in 1990.

Facts about the practice:
- The practice currently sees an average of 135 patients per month
- The staff currently consists of 2 therapists and the doctor
- The 2 therapists are bi-lingual, speaking Russian and English (Approximately 20% of patients are Russian speaking)
- The practice operates in a 750 sq ft office with 2 patient rooms, 2 bathrooms, a waiting area, and a secretary’s office (5-year lease with a 5-year option)
- Therapist #1 works 6 hours per day on Monday and Wednesday, and the Therapist #2 works 2 hours per day on Tuesday and Thursday
- The Dr let his secretary go several weeks ago. Her salary of $16/hr for 24 hours per week is no longer an expense, and the duties are currently being performed by the secretary of his NJ practice.
- The Dr had a Nurse Practitioner running the office for him from November 2017 to May 2018. During this time, the Dr paid the NP $9,000 per month in salary and $10,000 towards her health insurance. These expenses are no longer incurred, and are an add-back to the bottom line to reflect the true net-income of the practice.

Detailed Information

Real Estate:
Leased
Building SF:
750
Lease Expiration:
N/A
Employees:
2
Facilities:
750 sq ft office with 2 patient rooms, 2 bathrooms, a waiting area, and a secretary’s office
Reason for Selling:
Owner has another practice in NJ and wishes to ease commuting burden
Franchise:
This business is an established franchise
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Steven Chiger

Business Listed By:
Steven Chiger

Octagon Consulting

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