New Jersey Practice For Sale

Become the third owner in over 60 years of this well-respected private practice located in the corners of Somerset, Union and Morris Counties, NJ. The practice is in, and surrounded by, towns that have been awarded an A+ by Niche.com as most desirable places to live and raise a family in all of New Jersey taking into account the exceptional schools, low crime rate and diversity. With average household incomes over $195,000, it’s no wonder that over half of the patients are out-of-pocket, private pay accounts.

The vibrant and inclusive community brings a strong sense of belonging by hosting music festivals, art shows and various cultural events fostering a rich cultural life. Located in a suburb of NY, the town enjoys public transportation access via bus or train within 30 minutes of the city. With Newark Liberty Airport only 20 minutes away, the world is at your doorstep!

The practice is located on the busy main road in town in a single-story medical professional building with good visibility, ample parking, and ease of access for all patients.

In 2023, the practice had gross revenues over $1.3M with $286,000 in owner discretionary net income and adjusted average net cash flow of $120,000. The medical office layout includes a newly renovated waiting room and reception area, complete with new furniture and accessories and 3 workstations.

There are 3 fully equipped exam lanes (one handicapped accessible), 2 prescreening rooms, a contact lens insertion & removal instruction room, contact lens storage room, ADA compliant half bath, kitchen and private office space. Fully EMR converted with Compulink and networked throughout the workplace for over 10 years. The office is outfitted with modern equipment such as a Heidelberg Spectralis OCT Imaging Platform, Optos Ultra wide-field Retinal Imaging Device, Topcon Digital Corneal Topographer, and Humphrey Visual Field Analyzer.

A sizable contact lens inventory includes disposable soft lenses, RGP’s and CRT Orthokeratology corneal molding lenses. The optical layout includes a large open showroom featuring over 1,500 moderate and high-end frames in fashionable displays, a newly installed half bathroom, break room, and finishing lab with the latest edging equipment. In addition to the assignable, 2600 sq.ft. leased office space, approximately 1000 sq.ft. of basement space, including 2 large rooms, is used for storage.

This practice boasts providing the patient with personalized care using the latest equipment by practitioners that are knowledgeable and caring. With over 12,000 active patient records, the office has 2 doctors that see patients a total of 47.5 patient hours a week. Insurances accepted include Medicare, Aetna and Blue Cross/Blue Shield and account for less than half of the gross receivables. The office is located in an affluent area where people are happy to pay out-of-pocket for exceptional care and service. The practice has fantastic growth potential. The addition of more medical services, enrolling in vision plans and/or increasing clinical hours would augment revenue. Currently, no vision plans are accepted and all optical sales are self-pay.

This practice needs a caring, skilled, and dedicated owner to continue the legacy of excellent patient care while preserving the reputation, values, and character that have made it such a cornerstone in the community. Enjoy practicing optometry in a manner you’ve always dreamed of while building a lifetime of success and pride that comes from owning your own professional practice. The owner will soon be transitioning to retirement but is willing to continue working on a reduced schedule if the buyer desires.

Owner financing is available. A Williams Group Practice Appraisal is available for review. For more information, contact owner at SuburbanEyeandOptik@gmail.com.