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MB200059511
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Tokyo House

312 W PRINCETON DR STE 1, Princeton, TX 75407 · TABC MB200059511

Mixed Beverage Princeton Market Enriched 2026-09-10
$165,273 Annual gross (L12M) ▲ 6.4% latest MoM Click for monthly detail
$13,773 Avg monthly ▲ 18.3% latest vs avg Click for monthly detail
~28% Est. net margin (likely) $45,764/yr est. net Click for cost model
$114k–$160k Est. acquisition range 0.83× annual gross (blended) Click for valuation methods
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Executive Summary

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Tokyo House is a mixed-beverage licensed establishment at 312 W PRINCETON DR STE 1, Princeton, Texas (TABC MB200059511). Over the most recent 12 months it reported $165,273 in gross alcohol sales, averaging $13,773/month with a best month of $17,113. Sales mix: ~50% liquor · 27% beer · 23% wine. The building at this address is owned by ADDICKS FAMILY TRUST THE (6,300 sqft, $0 assessed value per county records). Applying Texas bar cost benchmarks yields an estimated annual net of approximately $45,764 (~28% margin). Acquisition value is estimated at $114k–$160k 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
$165,273
Avg monthly
$13,773
Best month
$17,113
May 2026
Sales mix
50% Liq
27% Beer · 23% Wine

Property & occupancy

County public records + submarket comps

Building (landlord parcel)

Record ID1193130
Property owner (landlord)ADDICKS FAMILY TRUST THE
Total building SF whole parcel — Tokyo House is in STE 16,300
Tokyo House's footprint estimated — suite-level not on file 2,500 sf
Assessed value$0

Tokyo House's share

Est. base rent ~$7/sqft/yr · 2,500 sqft $1,446/mo
NNN CAM / insurance$217/mo
NNN property tax$0/mo
Personal property tax est — no BPP record $88/mo
Total occupancy $1,751/mo

Occupancy analysis

All-in occupancy cost is 12.7% 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 $165,273 gross revenue estimated

Best Case
No kitchen, efficient staffing, favorable lease
~37%
Revenue$165,273
COGS (24%)−$39,666
Labor (14%)−$23,138
Occupancy−$18,906
TX MB gross tax (6.7%)−$11,073
Utilities / ins / mktg (8%)−$13,222
Card surcharge net+$1,818
Net profit $61,086
Most Likely
Typical bar, light food program, full two-shift staffing
~28%
Revenue$165,273
COGS (27%)−$44,624
Labor (17%)−$28,096
Occupancy−$21,007
TX MB gross tax (6.7%)−$11,073
Utilities / ins / mktg (10%)−$16,527
Card surcharge net+$1,818
Net profit $45,764
Stressed
Heavy food, larger crew, higher rent
~16%
Revenue$165,273
COGS (30%)−$49,582
Labor (22%)−$36,360
Occupancy−$23,107
TX MB gross tax (6.7%)−$11,073
Utilities / ins / mktg (12%)−$19,833
Card surcharge net+$1,818
Net profit $27,136
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 380 Hibachi LLC looking up officers…
6
Equal split (50% each)
Based on the "Most Likely" scenario net profit of $45,764/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 (~$45,764 net) estimated

Revenue multiple
$83k–$132k
0.5–0.8× gross
SDE multiple
$114k–$160k
2.5–3.5× earnings
Cap rate
$139k–$183k
25–33%
Suggested range
$114k–$160k
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 2026-09-09

No federal lawsuits — past or pending