An experienced Pharmacist running a 25 year old family run pharmacy was looking to purchase land and construct a new pharmacy that he could relocate the pharmacy to. The new location was in a highly desirable, high traffic area and has frontage on a major roadway.
The pharmacist had already started talks with the developer when he contacted 1st Med for financing assistance. We discussed his available options and made sure that the project would be viable from both a cash flow and time-frame perspective. Project Breakout:
- Land Acquisition - $1.25MM - Construction - $750K - FF&E Costs - $125K - Working Capital - $100K - Reserves, Overuns ,Etc - $250K
Transaction Closed: 11/03/2015
Location:
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