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Financials

MB1117250
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Lulus

2518 KIRBY DR, Houston, TX 77019 · TABC MB1117250

Mixed Beverage Houston Market Enriched 2026-07-10
$433,212 Annual gross (L12M) ▲ 9.3% latest MoM Click for monthly detail
$36,101 Avg monthly ▲ 30.7% latest vs avg Click for monthly detail
~-193% Est. net margin (likely) $-836,481/yr est. net Click for cost model
$217k–$-2,928k Est. acquisition range -3.13× 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 Bar, liquor is typically only 90–100% of total business revenue. Mostly liquor — our number is ~total revenue. Estimated total revenue (rough): $433,212 – $481,347/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

Lulus is a mixed-beverage licensed establishment at 2518 KIRBY DR, Houston, Texas (TABC MB1117250). Over the most recent 12 months it reported $433,212 in gross alcohol sales, averaging $36,101/month with a best month of $51,501. Sales mix: ~42% liquor · 2% beer · 56% wine. The building at this address is owned by AVALON OAKS LLC (3,164 sqft, $8,346,874 assessed value per county records). Applying Texas bar cost benchmarks yields an estimated annual net of approximately $-836,481 (~-193% margin). Acquisition value is estimated at $217k–$-2,928k 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
$433,212
Avg monthly
$36,101
Best month
$51,501
Dec 2025
Sales mix
42% Liq
2% Beer · 56% Wine

Property & occupancy

County public records + submarket comps

Building (landlord parcel)

Record ID0121150000009
Property owner (landlord)AVALON OAKS LLC
Total building SF3,164
Assessed value$8,346,874

Lulus's share

Est. base rent ~$317/sqft/yr · 2,500 sqft · Class A $65,952/mo
NNN CAM / insurance$9,893/mo
NNN property tax$8,347/mo
Personal property tax est — no BPP record $100/mo
Total occupancy $84,292/mo

Occupancy analysis

All-in occupancy cost is 233.5% 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 $433,212 gross revenue estimated

Best Case
No kitchen, efficient staffing, favorable lease
~-162%
Revenue$433,212
COGS (24%)−$103,971
Labor (14%)−$60,650
Occupancy−$910,349
TX MB gross tax (6.7%)−$29,025
Utilities / ins / mktg (8%)−$34,657
Card surcharge net+$4,765
Net profit $-700,674
Most Likely
Typical bar, light food program, full two-shift staffing
~-193%
Revenue$433,212
COGS (27%)−$116,967
Labor (17%)−$73,646
Occupancy−$1,011,499
TX MB gross tax (6.7%)−$29,025
Utilities / ins / mktg (10%)−$43,321
Card surcharge net+$4,765
Net profit $-836,481
Stressed
Heavy food, larger crew, higher rent
~-226%
Revenue$433,212
COGS (30%)−$129,964
Labor (22%)−$95,307
Occupancy−$1,112,649
TX MB gross tax (6.7%)−$29,025
Utilities / ins / mktg (12%)−$51,985
Card surcharge net+$4,765
Net profit $-980,952
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 Luro LLC looking up officers…
2
Equal split (50% each)
Based on the "Most Likely" scenario net profit of $-836,481/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 (~$-836,481 net) estimated

Revenue multiple
$217k–$347k
0.5–0.8× gross
SDE multiple
$-2,091k–$-2,928k
2.5–3.5× earnings
Cap rate
$-2,535k–$-3,346k
25–33%
Suggested range
$217k–$-2,928k
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 2026-06-15

Lookup pending — check back tomorrow

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