Family Medical Practice

Not Disclosed, IL
McLean County

Asking Price: Annual Revenue:
$250,000 $717,405

Services: Medical, Dental

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RE: Family Medical Practice Broker: Terry Flanagan

Quick Facts

Asking Price: $250,000
Annual Revenue: $717,405
Net Profit: Not Disclosed
Cash Flow: $270,612
Total Debt: Not Disclosed
FF&E: $70,000
Real Estate: Not Disclosed
Year Established: 1993
Employees: 5
BBN Listing #: 37814955
Broker Reference #: 4202-14071

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Business Overview:

This is a busy family medical practice located in Central Illinois. The practice was started in 1993 and has been in the current location since 2000. Well trained staff is expected to stay. Seller is willing to work in the practice for a to-be-determined period of time to aid in the transition of patients. Electronic medical records system (Practice Fusion) is in place and staff is trained on this system.

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Property Features and Assets:

Free standing building on busy thoroughfare. The parking lot has recently been refinished and has 20 parking spaces. The building is 3,700 square feet and is located 1/2 mile from the nearest hospital. The office consists of 5 examination rooms, 1 X-ray room and 1 minor treatment room. Support areas include a nurse's station and lab area, darkroom, 2 private physician's offices and 4 lavatories, two for staff and two for patients. The waiting room contains 16 chairs and the vestibule has space for a wheelchair. The Real Estate is available for purchase but not included in the selling price. Assets= $75,000

Market Competition and Expansion:

This locale is underserved for family medical practices. This practice is located in a growing area of the State with high employment and strong family values. The seller is in the process of adding a Nurse Practitioner. The facility could easily accommodate a second physician in family practice or in a complimentary specialty. The addition of an online practice website would help with exposure within the community and ease of making appointments for new patients.

Reason for Selling:

Owner wishes to retire.

Additional Details:

  • The property is leased.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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