Upstate NY Physical Therapy Practice and Commercial Real Estate for Sale
August 19, 2020
WELL ESTABLISHED AND HIGHLY REGARDED UPSTATE NY PHYSICAL THERAPY PRACTICE and Commercial Property
in the heart of the NYS Capital Region FOR SALE
DETAILS and OVERVIEW
A longtime physical therapy practice in a very community oriented neighborhood is for sale. The practice has an excellent reputation and is a true staple of the area, well known by area physicians and allied health/ fitness professionals as a facility that truly provides individualized and attentive physical therapy services in a relaxed and friendly atmosphere. A majority of patients are obtained through local word-of-mouth.
The office is Medicare credentialed and participates with most area-wide private insurance companies including Medicare Advantage, HMOs, PPOs, No-fault Claims and private pay. The practice is open 3 days per week because of other commitments by the owner but could easily ramp up to full time. Prior to COVID, the practice averaged approximately 33 productive visits per week and received an average approximately 15 new patients per month. The practice is ramping up again following all CDC guidelines.
The practice is in a stand alone commercial building which the practice owner owns. The commercial entity is also for sale as a separate transaction. Total sq feet is 1,409, with the clinic on the main floor approximately 700 square feet. There is potential to rent out the rooms upstairs to a massage therapist, nutritionist, counselor. if a second egress is need to be added to meet code.
In its current configuration, there are 4 tables that have privacy curtains, 2 in each room. Pre CoVid there was adequate space for 4 patients to be in the building, each with their own space. There is a 3rd small separate room with an extremity whirlpool; this could be made into a private examination room.
There is a bathroom that has an elevated toilet seat and grab bars, a fully functioning washer and dryer on site. a designated waiting room. separate office for admin/therapist charting, and a separate locked room for file storage cabinets.
There is a large parking lot for off street parking.
The current patient data base in web PT is at 1000 patients.
Currently the owner is the primary treating therapist with per diem PTAs and PTs available on an as needed basis.
FINANCIAL OVERVIEW – Full financial information including but not limited to profit and loss statements, balance sheets, and tax returns for the last three years are available for inspection. The gross revenue for the company is consistently above $135,000.
The practice owner prefers to sell the commercial space and the practice to the same entity, but will consider separate offers as well. The ask price for the real estate is $299,000 and the ask price for the practice is $130,000.
Serious inquiries only, please email Iris Kimberg MS PT OTR on behalf of the owner.