After almost 40 years in practice, this doctor is ready to start the transition to retirement and is looking to sell his practice with real estate. The property & building boasts 7 chairs with a total of 2,594 sq ft. This two-story building has an upstairs area with 2 more large unfurnished rooms with a loft that add great opportunity for expansion. This property has great road front exposure to a main highway and plenty of parking. Panama City is booming with growth for residents and is no longer just a place to visit. Get here before the boom! Panama City is known for its stunning white sandy beaches and emerald-green waters which makes it a dream place to live for those who love to be on the water. There is a person-to-dentist ratio of 7,000 to 1 within a 3-mile radius of this practice which is another key indicator that there is room to grow with minimal competition. To top it off, the household income for the immediate area is $93,000 per year.
The practice gets 15-20 new patients a month with ZERO marketing and has over 2,150 active patients seen in the last 24 months. There is a healthy hygiene program with 6 hygiene days per week. The practice comes with an established team that has been with the practice for many years and in turn, have excellent goodwill with the patients to make a transition seamless for a new prospective buyer. The seller has a focus on restorative dentistry but does do case-by-case endo and extractions.
The office operates at only 47.2% overhead and a profit margin of 52.8%. This practice takes home $387,750 after debt service.