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Financials

MB105029349
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Black Sheep Bistro & The Barrel Wine & Tapas Bar

15201 S PADRE ISLAND DR STE 120, Corpus Christi, TX 78418 · TABC MB105029349

Mixed Beverage Corpus Christi Market Enriched 2026-08-27
$123,993 Annual gross (L12M) ▲ 23.9% latest MoM Click for monthly detail
$10,333 Avg monthly ▲ 18.8% latest vs avg Click for monthly detail
~27% Est. net margin (likely) $33,971/yr est. net Click for cost model
$85k–$119k Est. acquisition range 0.82× annual gross (blended) Click for valuation methods
Liquor sales only — total revenue is higher
Every dollar on this page comes from Mixed Beverage Gross Receipts filings — the alcohol portion of total sales. For a Restaurant / Bar, liquor is typically only 25–45% of total business revenue. Restaurant. Total revenue is typically 2–4× our liquor figure. Estimated total revenue (rough): $275,540 – $495,972/year. Treat the valuation below as a screening estimate based on the alcohol portion alone.
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Executive Summary

Click to expand full narrative

Black Sheep Bistro & The Barrel Wine & Tapas Bar is a mixed-beverage licensed establishment at 15201 S PADRE ISLAND DR STE 120, Corpus Christi, Texas (TABC MB105029349). Over the most recent 12 months it reported $123,993 in gross alcohol sales, averaging $10,333/month with a best month of $13,969. Sales mix: ~52% liquor · 19% beer · 29% wine. Applying Texas bar cost benchmarks yields an estimated annual net of approximately $33,971 (~27% margin). Acquisition value is estimated at $85k–$119k across revenue-multiple, SDE-multiple, and cap-rate methods. All revenue figures are gross mixed-beverage receipts as filed with the Texas Comptroller; they exclude cash income such as cover charges, game machines, or merchandise.

Sales performance · last 12 months

Texas Comptroller mixed-beverage gross receipts actual

Annual gross
$123,993
Avg monthly
$10,333
Best month
$13,969
Aug 2025
Sales mix
52% Liq
19% Beer · 29% Wine

Property & occupancy

County public records + submarket comps

Detailed property records not available for this location. Occupancy below uses submarket heuristics only.

Estimated occupancy heuristic

Est. base rent (10.5% of gross)$1,085/mo
NNN CAM / insurance$163/mo
Total occupancy$1,344/mo

Note

County property records couldn't be matched to this address. Occupancy is modeled from a revenue-based heuristic and is less accurate than a direct property record match.

Profit scenarios

Texas bar cost model applied to $123,993 gross revenue estimated

Best Case
No kitchen, efficient staffing, favorable lease
~37%
Revenue$123,993
COGS (24%)−$29,758
Labor (14%)−$17,359
Occupancy−$14,510
TX MB gross tax (6.7%)−$8,308
Utilities / ins / mktg (8%)−$9,919
Card surcharge net+$1,364
Net profit $45,503
Most Likely
Typical bar, light food program, full two-shift staffing
~27%
Revenue$123,993
COGS (27%)−$33,478
Labor (17%)−$21,079
Occupancy−$16,122
TX MB gross tax (6.7%)−$8,308
Utilities / ins / mktg (10%)−$12,399
Card surcharge net+$1,364
Net profit $33,971
Stressed
Heavy food, larger crew, higher rent
~16%
Revenue$123,993
COGS (30%)−$37,198
Labor (22%)−$27,278
Occupancy−$17,734
TX MB gross tax (6.7%)−$8,308
Utilities / ins / mktg (12%)−$14,879
Card surcharge net+$1,364
Net profit $19,960
Disclaimer: Revenue is mixed-beverage gross receipts from the Texas Comptroller — it does not include cash income like door charges, game machines, merchandise, or event rentals (which can add 10–25% for nightclubs). Cost ratios are industry benchmarks for Texas MB-permit bars. Rent is estimated from submarket comps; property tax is from county public records pro-rated by square footage. Actual profit depends on lease terms, staffing, owner salary, and one-time costs.

Owner income estimator

Split likely net profit across ownership estimated

TABC licensee Lance's Black Sheep Bistro LLC looking up officers…
1
Equal split (50% each)
Based on the "Most Likely" scenario net profit of $33,971/year. Actual owner income depends on salary draws, distributions, debt service, and tax structure. Consult an accountant for actual income projections.

Acquisition value estimate

Based on most-likely scenario (~$33,971 net) estimated

Revenue multiple
$62k–$99k
0.5–0.8× gross
SDE multiple
$85k–$119k
2.5–3.5× earnings
Cap rate
$103k–$136k
25–33%
Suggested range
$85k–$119k
blended estimate
The numbers above are liquor-only: bar-style multiples applied to mixed-beverage receipts. They're the right answer for a pure bar/lounge — but for a restaurant, this is just one slice of total enterprise value (the bar program). See the food-business estimate below.
Full-business estimate · Restaurant / Bar

If you're buying the whole restaurant, not just the bar program

We estimate this restaurant / bar pulls $275,540–$495,972/yr in total revenue (your liquor portion of $123,993 is roughly 25–45% of the total per industry benchmarks). Applied to that estimated total: revenue multiple 0.30–0.50×, net margin 10–15%, SDE multiple 2.5–4.0× (restaurant comps, not bar comps).

Estimated total revenue
$276k–$496k
food + liquor + service
Estimated net (10–15%)
$28k–$74k
restaurant margin
Full-business value
$76k–$273k
blended rev × SDE

Confidence on this estimate is lower than the liquor-only valuation above — we're inferring food revenue from category averages, not from this specific operator's books. A serious buyer should request actual P&Ls + a Schedule C / 1120S.

Federal court history

Public records · last checked 2026-09-05

No federal lawsuits — past or pending