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Sale Structure: Asset Sale
North York – Bayview & Sheppard
An opportunity exists to stake a claim to a premium location in the GTA. Our client, a retiring dentist has elected to pass his small, part time practice and traditionally inclined patient base onto an appropriate successor.
Our Client owns the building that the practice occupies and fundamental to the transaction, is their willingness to prepare a long term lease providing the security required to make a career oriented investment in the Heart of North York. A small investment would be required to modernize the office to fully take advantage of the upwardly mobile clientele that frequent this area.
The building is service oriented and drives a steady stream of new faces to the area augmented by the proximity to the highway, schools, premium retail and the subway making a strong business case for first time buyer looking to start a practice in a great area or a local dentist that may have a distressed lease.
The vendor is seeking an initial base lease rate of $14.50/sq.ft. After factoring in the additional TMI (based on 2017), it would work out to an approximate monthly gross rent of $3,800 +HST.
The asking price for the practice, including leaseholds, equipment and goodwill is $90,000.
Highlights of this practice include:
- Excellent location with parking and easily accessible by local transit
- Well maintained 1,420 sq. ft. office
- Revenue is around $50k/year on approx. 120 patients, on very limited hours
- 4 fully equipped dental operatories, new x ray units in 3 ops, all ops computerized, TV’s in all ops, digital x-rays, private office and staff room
For more information on this opportunity, please contact David Rourke.