Medical Practice in Greater Richmond - Reduced

Colonial Heights, VA
Colonial Heights City County

Asking Price: Annual Revenue:
$395,000 $700,000

Services: Medical, Dental

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RE: Medical Practice in Greater Richmond - Reduced Broker: Gavin Raphael
Owner Financing is Available!

Quick Facts

Asking Price: $395,000
Annual Revenue: $700,000
Net Profit: $175,000
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: $50,000
Real Estate: Not Disclosed
Year Established: 1996
Employees: 8
BBN Listing #: 273148609
Broker Reference #: Not Disclosed

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Business Overview:

Light & Raphael is pleased to offer for sale an industrial medical practice specializing in workmen’s comp cases and medical services required by employers. Company is called: Virginia Industrial Medicine. This was the first and is still the only dedicated medical workmen’s comp facility in the Greater Richmond area.

Long established, successful private practice for over 20 years. Excellent reputation and stable referral sources throughout the area. The practice provides comprehensive examinations, office services and laboratory procedures. Seller is willing to continue working during a transition period.

Opportunity for a new owner to take the business to the next level. Current owner has been battling health issues and works four days per week (although the practice operates Monday to Fridays). The practice would benefit from a website and a sales and advertising effort.

Financing possible for a qualified buyer.

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Property Features and Assets:

Monthly rent is $3,600 and the current lease expires in March 2020 although it contains options to renew. There is 2,400 square feet containing four exam rooms, two doctor’s offices and one procedure room. The business has resided at its current location for 20 years.

Market Competition and Expansion:

Niche market with little competition.

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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