This established private optometry practice has operated in the Houston market for approximately 18–20 years and carries a strong 4.3 ★ Google reputation based on 146 reviews. The current owner acquired the practice in October 2024 and has since operated it on a highly limited schedule while focusing on other locations. The completed valuation confirms 2025 revenue of approximately $167,000, based on both the P&L and business tax return, with the current practice operating at a loss under its existing staffing and expense structure. Rather than an earnings-driven acquisition, this opportunity is best viewed as an asset-backed turnaround or alternative to a cold start, supported by an established location, existing patient database, recently remodeled optical, usable equipment, optical inventory, and significant unused clinical capacity.
The practice reports approximately 1,910 active patients seen within the last two years, more than 13,500 total patient records, approximately 1,000 annual patient visits, and roughly 300 new patients per year. The practice currently uses Crystal PM, having converted from Liquid EHR in April 2025. Historical patient-volume reports show 1,969 total patients in 2023, 1,392 in 2024, 560 in 2025, and 307 through the reported 2026 YTD period; the source materials note that the EHR conversion may have created reporting discrepancies, so historical and current patient-volume figures should be reviewed together during due diligence.
The practice currently provides comprehensive primary eye care and optical sales, with substantial opportunity to rebuild and expand medical eye care. The seller specifically notes that the office previously handled a greater volume of patients and that restoring Medicaid participation, broader medical services, and full-time doctor coverage could materially increase patient volume. No projected benefit from those potential improvements has been included in the valuation.
The practice participates with a broad range of vision plans, including VSP, EyeMed, Davis Vision, Spectera, Superior Vision, NVA, Avesis, Community Eye Care, Humana Vision, AlwaysCare/Starmount, and Guardian Vision. Medical panels listed in the seller materials include Medicare, Blue Cross Blue Shield, UnitedHealthcare, Aetna, Cigna, and Humana. Medicaid participation was discontinued after the October 2024 ownership transition.
The owner currently works only approximately 0.5 clinical day per week, while an experienced associate / fill-in optometrist currently works two full days per week and has indicated willingness to continue approximately two to three days per week. The associate has more than 30 years of experience. The practice also has one full-time staff member who handles optical, technician, front-desk, and billing responsibilities. She is described as proficient across core office functions and capable of taking on an office-manager role. There are no employment contracts or non-compete agreements currently in place.
The approximately 2,404-square-foot office includes two exam lanes, with one currently fully equipped, and operates Monday through Friday from approximately 9:30 AM to 6:00 PM. Current scheduled base rent is approximately $3,846 per month plus additional charges, with the current term extending through March 31, 2029 and a five-year renewal option. Subsequent renewal increases are approximately 3% annually. The seller reports that the lease is assignable, although landlord consent and acceptable buyer terms should be confirmed.
The office underwent a substantial $80,000–$100,000 remodel in April 2025, including new lighting, ceiling tiles, paint throughout the patient areas, and new optical displays. The seller describes the practice as a turnkey office in an established location that has been operating for approximately two decades.
Major equipment includes a Topcon SL-2ED slit lamp, Marco stand with leather chair and handhelds, Topcon PS-60A slit lamp, Reichert stand and chair, Reichert Optocheck Plus autorefractor, Briot Accura edger, and Icare tonometer. The completed valuation uses approximately $10,500 as the selected value for identified owned clinical equipment, based on the midpoint of the submitted equipment ranges. Most major lane components are approximately 15–20 years old, while the autorefractor is approximately seven years old. The seller reports that the major equipment remains functional.
The practice’s frame report identifies approximately 465 frames with a reported wholesale value of $28,774. For valuation purposes, an adjusted inventory allowance of approximately $23,000 was used, reflecting 80% of reported wholesale value pending a final physical count, confirmation of ownership, condition, age, and saleability.
The seller reports no practice loans or liens, while current accounts receivable were approximately $4,381 as of September 2, 2026. The completed valuation assumes an asset purchase in which seller liabilities remain with the seller and purchased assets transfer free and clear of liens unless specifically agreed otherwise.
The completed financial review shows that 2025 P&L revenue was approximately $167,508, compared with approximately $166,948 of tax-return revenue after returns and allowances. The seller questionnaire’s higher 2025 revenue figure was not reconciled and therefore was not used in the valuation. After adding back approximately $79,389 of depreciation and amortization, approximately $4,400 of documented owner compensation, and a small charitable contribution, normalized 2025 owner benefit remains a loss of approximately $67,838. Even under an owner-operator sensitivity that assumes the purchaser personally replaces all contracted professional expense, the modeled result remains a loss of approximately $31,188 before acquisition debt. As a result, no positive cash-flow goodwill has been assigned, and the valuation is primarily supported by transferable assets rather than demonstrated earnings.
Growth opportunities remain the central attraction of this acquisition. The current owner provides only half a clinical day per week, while the associate works approximately two days per week. A buyer could substantially increase doctor coverage, fully utilize the second exam lane, restore Medicaid participation if appropriate, rebuild medical eye care, improve recall and patient reactivation, expand digital marketing beyond the current website and word-of-mouth strategy, and utilize the remodeled optical more fully. The practice’s established location, 13,500+ patient records, broad payer relationships, existing associate coverage, and current optical inventory provide a meaningful foundation for rebuilding production without starting from zero. No financial benefit from these improvements has been incorporated into the current normalized earnings analysis.
This opportunity is particularly well suited for a hands-on owner-operator or growth-minded OD seeking an established Houston office with very limited current owner involvement, an experienced associate willing to remain, a recently remodeled optical, broad insurance participation, an existing patient database, and meaningful unused clinical capacity. Based on the completed valuation, the opportunity should be evaluated primarily as an asset-backed turnaround acquisition or lower-cost alternative to building a new office from scratch, rather than as a currently profitable cash-flow acquisition.
Financing may be available for qualified buyers through conventional lenders, subject to lender underwriting and approval. Current historical earnings do not independently demonstrate positive debt-service coverage, so financing will depend heavily on buyer qualifications, lender structure, and the buyer’s operating plan.
For more information, including detailed financials and confidential practice information, please complete our Buyer Registration Form and Confidentiality Agreement.
