Well Established Pharmacy In Prime Redondo Beach

Business Overview:

Located in Redondo Beach/Palos Verdes Estates near Highway 1, the pharmacy is well-established since 1999.
It occupies 1,200 sq. ft. with a new 5+5 lease option, ensuring long-term stability.
It accepts most major insurances, including Medical, CVS Caremark, Humana, Express RX, Optum, and Blue Shield/Cross, all in good standing, according to the seller. However, the facility license is currently slated to be suspended by May 5th, 2025.
Operational details include operating 5 days a week, staffed by 1 PIC, 1 tech, and 1 driver, with annual revenue over $2.65M and consistent.
The location is in a residential/commercial area with nearby medical and veterinarian clinics, enhancing visibility and customer base.
The wholesaler is McKesson with secondary options, and RX software is RX30, supporting efficient operations.
It averages 100-130 retail scripts daily (historical average), with a diversified patient base, seeking licensed PharmD’s for continuity.
Clean books are maintained, and inventory is approximately $50,000, to be appraised at close.
The seller had spent over $50,000 on recent improvements.

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Property Features and Assets:

"Important Note: The pharmacy license of the current facility will be suspended by May 5th,2025. New owner must apply for a temporary facility license and ensure that they or their designated pharmacist in charge has a valid PharmD license in good standing.
Potential buyers should contact the California State Board of Pharmacy (California State Board of Pharmacy) for more information on the specific violation and the steps required to transfer the current license.

Market Competition and Expansion:

The aging population in beach communities, including Redondo Beach, presents significant growth potential. Research suggests that effective marketing strategies targeting local medical offices and clinics can tap into this demographic, increasing prescription volume (Pharmacies near Redondo Beach, CA on Healthgrades).
The pharmacy’s location near Highway 1 and proximity to medical facilities offer avenues for partnerships, potentially expanding services like home delivery or specialized medication programs, once operational again.

An interesting aspect is the presence of many Residential Care Facilities for the Elderly (RCFEs) and Assisted Living Facilities/Skilled Nursing Facilities (ALF/SNFs) in the area. These facilities are potential customers, offering opportunities for partnerships to supply medications to their residents, potentially increasing prescription volume and revenue, once the pharmacy is back in operation.

Reason for Selling:

Additional Details:

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