| Type: |
Location:
Grand Rapids, MI |
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Asking Price: |
$170,000 |
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Down: |
upon request |
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Adj Net: |
$80,000 |
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Annual Receipts: |
$271,000 |
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Listing ID#: |
GRANDMI001-N381 |
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Reason For Sale: |
Other business interests |
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Description
Originally from South America, the owner of this unique business soon discovered, after immigrating to Michigan, that her Dental License would not be honored. If she wished to open her own practice she would need to go back to dental school - a curriculum of 4 more years at $80,000 per annum!
There was little or no way she could afford to return to dental school right away, so she invested in this Dental Office / Professional Building and created a surprisingly thriving business, whereby she rents space to Associate Dentists, dental graduates just out of school, as well as other medical professionals.
In November 2007, she purchased the building, but is willing to sell it at $250,000 for a quick sale - far below the normal value or the property (two times the SEV) of $350,000. She found a dental college in Florida that only requires she attend a two year refresher course for half the Michigan tuition and is anxious to get enrolled.
Average 2 year sales were $274,400 with an average cash flow of $101,600. At a selling price of $170,000, or less than 2X cash flow, this is a great business for a dentist looking to open his own practice - with a built-in subsidy already in place! Another candidate could be a medical professional or simply a passive investor.
For more information please call Ken George @ 616-285-8121-O, 616-648-1132-C
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