Premier Manhattan Dental Practice, 2,500+ Active Patients, NYC

$3.4M

Revenue

$1.1M

SDE

4.5x

Multiple

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Full Editorial Writeup

This is an established general and specialty dental practice occupying roughly 4,000 square feet in a prime Manhattan location, serving more than 2,500 active patients. Founded in 2015, the practice has scaled its collections from about $2.8 million in 2024 to $2.95 million in 2025, with the first half of 2026 running at roughly $1.7 million and tracking toward $3.4 million for the full year. The office runs on modern infrastructure, with more than $1 million invested in imaging, digital scanning, laser dentistry, guided-surgery capabilities and AI-assisted clinical documentation, plus a dedicated surgical suite that can be monetized or converted into additional operatories.

The practice is staffed with associate dentists, established hygiene coverage and support staff, meaning a buyer inherits a functioning clinical team rather than a solo-doctor operation. That structure matters: of the roughly $1.1 million in owner benefit, about $350,000 is compensation tied to the owner's own clinical production, and roughly $750,000 is practice profit. Adjusted EBITDA sits near $750,000 once you replace the owner's chair time with a hired associate, which is the number a corporate or DSO buyer will actually underwrite.

The seller is retiring but has committed to remaining as a producing dentist for three to five years under a mutually agreeable comp arrangement, which de-risks patient and referral continuity through the transition. The listing is priced at $5,000,000 (about 4.55x SDE, or roughly 6.7x adjusted EBITDA) with real estate leased, not included, at $25,000 per month through 2036. It suits an acquisition-minded dentist, a DSO, or a group looking for a flagship Manhattan asset with scale and modern infrastructure already in place.

Why we like it

Earnings quality is solid and transparent, with the seller splitting the roughly $1.1 million of owner benefit into $350,000 of clinical production comp and $750,000 of practice profit. That honest breakout lets a buyer underwrite the real post-associate number, an adjusted EBITDA near $750,000, rather than paying full SDE multiple for the owner's own chair time.
Dental is genuinely recession-resistant demand: hygiene recalls, restorative work and emergencies get done in good times and bad, and 2,500+ active patients create a recurring base of visits and referrals. A Manhattan patient panel with insurance and fee-for-service mix is a durable annuity, not a fashion-driven revenue stream.
The growth trajectory is real and documented, moving from $2.8 million in 2024 to $2.95 million in 2025 and tracking toward $3.4 million in 2026, with management projecting continued 10% to 12% annual growth. Combined with a surgical suite that can be converted into two more operatories, there is embedded capacity to keep compounding without a move or major buildout.
The seller's three-to-five-year commitment as a producing dentist is a rare continuity backstop, protecting patient relationships and referral flow through the handoff. That is far better than a 90-day handshake and materially lowers the risk of production falling off after close, which is the number one failure mode in practice acquisitions.

How to improve it

Recruit or promote associate dentists to backfill the owner's $350,000 of clinical production well before the seller exits, so the practice does not depend on the retiring doctor's chair. Building a producing bench during the transition window is the single highest-leverage move to protect the adjusted EBITDA a buyer is paying for.
Activate the dedicated surgical suite as a revenue center by adding implant, guided-surgery and sedation cases in-house rather than referring them out. With guided-surgery capability and imaging already installed, capturing surgical fees you currently leak to specialists is high-margin incremental revenue.
Audit the payer and fee-for-service mix and renegotiate underperforming insurance contracts given the Manhattan cost base and $25,000 monthly rent. Small per-procedure fee improvements across 2,500 active patients drop almost entirely to the bottom line and directly offset the high occupancy cost.
Tighten hygiene recall and reactivation systems to pull dormant patients back onto the schedule and lift chair utilization. A structured recall program plus text/email reactivation typically recovers meaningful production from an existing panel this size at near-zero acquisition cost.
Lean into the AI-enhanced documentation and workflow tools to raise clinician throughput and cut administrative drag per visit. Faster documentation and cleaner treatment planning let doctors see more patients per day, which is how you convert the projected 10% to 12% growth into actual capacity.
Build a local digital marketing engine (reviews, SEO, targeted paid search for high-value procedures) to feed new-patient flow into a practice that clearly has physical capacity to expand. A flagship Manhattan location should be running a deliberate patient-acquisition program, not relying purely on organic referral.

Diligence notes

Reconcile the revenue timeline carefully: collections were $2.95 million in 2025 with $1.7 million in the first half of 2026, and the $3.4 million full-year figure is a projection, not booked. Verify monthly production and collections reports to confirm the run-rate before crediting the 10% to 12% growth story in the valuation.
Scrutinize the adjusted EBITDA bridge from $1.1 million SDE to $750,000, specifically what associate compensation is assumed to replace the owner's production. Market associate comp in Manhattan can run 30% or more of production, so confirm the replacement cost is realistic or the true post-sale profit is lower.
Analyze patient concentration and production by provider to see how much revenue currently flows through the retiring owner versus the associates. A practice where the owner personally drives a large share of collections carries real transition risk even with a three-to-five-year stay.
Review the lease in detail, as it runs through 12/31/2036 at $25,000 per month with roughly $300,000 in annual rent that is a fixed, sizable cost on $3.4 million of revenue. Confirm escalation clauses, assignment rights for an SBA or DSO buyer, and whether the rent is at, above or below Manhattan market.
Validate the payer mix, insurance participation and any out-of-network fee schedules, since Manhattan practices vary widely between PPO-heavy and fee-for-service models. The durability and margin of the revenue depend heavily on whether growth came from volume, fee increases or new payer contracts.
Confirm the condition, ownership and remaining useful life of the $1 million-plus in equipment and technology included in the sale, including imaging and laser systems. Verify none of it is leased or financed with balances that would transfer, and that the AI and imaging platforms carry current support and licensing.

Source

Originally listed on BizBuySell. View original listing →