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Financials

MB1068107
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Lost & Found

160 W GRAY ST, Houston, TX 77019 · TABC MB1068107

Mixed Beverage Houston Market Enriched 2026-07-11
$657,782 Annual gross (L12M) ▲ 125.5% latest MoM Click for monthly detail
$54,815 Avg monthly ▲ 9.1% latest vs avg Click for monthly detail
~36% Est. net margin (likely) $239,717/yr est. net Click for cost model
$599k–$658k Est. acquisition range 0.96× 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 Cocktail Bar, liquor is typically only 85–95% of total business revenue. Spirits-led; low food. Estimated total revenue (rough): $692,402 – $773,861/year. Treat the valuation below as a screening estimate based on the alcohol portion alone.
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Executive Summary

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Lost & Found is a mixed-beverage licensed establishment at 160 W GRAY ST, Houston, Texas (TABC MB1068107). Over the most recent 12 months it reported $657,782 in gross alcohol sales, averaging $54,815/month with a best month of $78,136. Sales mix: ~98% liquor · 1% beer · 1% wine. The building at this address is owned by 177 WEST GRAY LLC (5,000 sqft, $320,000 assessed value per county records). Applying Texas bar cost benchmarks yields an estimated annual net of approximately $239,717 (~36% margin). Acquisition value is estimated at $599k–$658k 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
$657,782
Avg monthly
$54,815
Best month
$78,136
Mar 2026
Sales mix
98% Liq
1% Beer · 1% Wine

Property & occupancy

County public records + submarket comps

Building (landlord parcel)

Record ID0050280000007
Property owner (landlord)177 WEST GRAY LLC
Total building SF5,000
Assessed value$320,000

Lost & Found's share

Est. base rent ~$5/sqft/yr · 3,500 sqft · Class C $1,493/mo
NNN CAM / insurance$224/mo
NNN property tax$320/mo
Personal property tax est — no BPP record $132/mo
Total occupancy $2,169/mo

Occupancy analysis

All-in occupancy cost is 4.0% of gross revenue. Industry benchmark for healthy bars is 6–10%; 12–15% is typical for premium submarkets; above 18% is unsustainable without very strong margins elsewhere.

Profit scenarios

Texas bar cost model applied to $657,782 gross revenue estimated

Best Case
No kitchen, efficient staffing, favorable lease
~45%
Revenue$657,782
COGS (24%)−$157,868
Labor (14%)−$92,089
Occupancy−$23,424
TX MB gross tax (6.7%)−$44,071
Utilities / ins / mktg (8%)−$52,623
Card surcharge net+$7,236
Net profit $294,942
Most Likely
Typical bar, light food program, full two-shift staffing
~36%
Revenue$657,782
COGS (27%)−$177,601
Labor (17%)−$111,823
Occupancy−$26,027
TX MB gross tax (6.7%)−$44,071
Utilities / ins / mktg (10%)−$65,778
Card surcharge net+$7,236
Net profit $239,717
Stressed
Heavy food, larger crew, higher rent
~26%
Revenue$657,782
COGS (30%)−$197,335
Labor (22%)−$144,712
Occupancy−$28,629
TX MB gross tax (6.7%)−$44,071
Utilities / ins / mktg (12%)−$78,934
Card surcharge net+$7,236
Net profit $171,336
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 Alife Hospitality Group LLC looking up officers…
4
Equal split (50% each)
Based on the "Most Likely" scenario net profit of $239,717/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 (~$239,717 net) estimated

Revenue multiple
$329k–$526k
0.5–0.8× gross
SDE multiple
$599k–$839k
2.5–3.5× earnings
Cap rate
$726k–$959k
25–33%
Suggested range
$599k–$658k
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.

Federal court history

Public records · last checked 2026-06-21

No federal lawsuits — past or pending