Pearl Market

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): $10,410,440 – $18,738,792/year. Treat the valuation below as a screening estimate based on the alcohol portion alone.

Executive Summary

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Pearl Market is a mixed-beverage licensed establishment at 221 NEWELL AVE STE 110-120-140-150, San Antonio, Texas (TABC MB200123362). Over the most recent 12 months it reported $4,684,698 in gross alcohol sales, averaging $390,392/month with a best month of $533,933. Sales mix: ~59% liquor · 8% beer · 33% wine. The building at this address is owned by CITY OF SAN ANTONIO $2,944,590 assessed value per county records). Applying Texas bar cost benchmarks yields an estimated annual net of approximately $1,536,453 (~33% margin). Acquisition value is estimated at $3,841k–$4,685k 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

$4,684,698

Avg monthly

$390,392

Best month

$533,933

Dec 2025

Sales mix

59% Liq

8% Beer · 33% Wine

Property & occupancy

County public records + submarket comps

Building (landlord parcel)

Record ID374784

Property owner (landlord)CITY OF SAN ANTONIO

Pearl Market's footprint estimated — suite-level not on file 7,500 sf

Assessed value$2,944,590

Pearl Market's share

Est. base rent ~$33/sqft/yr · 7,500 sqft · Class A $20,313/mo

NNN CAM / insurance$3,047/mo

NNN property tax$2,822/mo

Personal property tax own fixtures · Prop 1439131 $3,132/mo

Total occupancy $29,314/mo

Occupancy analysis

All-in occupancy cost is 7.5% 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 $4,684,698 gross revenue estimated

Best Case

No kitchen, efficient staffing, favorable lease

~42%

Revenue$4,684,698

COGS (24%)−$1,124,328

Labor (14%)−$655,858

Occupancy−$316,588

TX MB gross tax (6.7%)−$313,875

Utilities / ins / mktg (8%)−$374,776

Music licensingASCAP + BMI + SESAC + GMR combined−$4,400

Card surcharge net+$51,532

Net profit $1,946,406

Most Likely

Typical bar, light food program, full two-shift staffing

~33%

Revenue$4,684,698

COGS (27%)−$1,264,868

Labor (17%)−$796,399

Occupancy−$351,765

TX MB gross tax (6.7%)−$313,875

Utilities / ins / mktg (10%)−$468,470

Music licensingASCAP + BMI + SESAC + GMR combined−$4,400

Card surcharge net+$51,532

Net profit $1,536,453

Stressed

Heavy food, larger crew, higher rent

~22%

Revenue$4,684,698

COGS (30%)−$1,405,409

Labor (22%)−$1,030,634

Occupancy−$386,941

TX MB gross tax (6.7%)−$313,875

Utilities / ins / mktg (12%)−$562,164

Music licensingASCAP + BMI + SESAC + GMR combined−$4,400

Card surcharge net+$51,532

Net profit $1,032,807

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 Pearl Market LLC looking up officers…

Number of owners

Ownership split

Equal split (50% each)

Based on the "Most Likely" scenario net profit of $1,536,453/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 (~$1,536,453 net) estimated

Revenue multiple

$2.34M–$3.75M

0.5–0.8× gross

SDE multiple

$3.84M–$5.38M

2.5–3.5× earnings

Cap rate

$4.66M–$6.15M

25–33%

Suggested range

$3,841k–$4,685k

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 $10,410,440–$18,738,792/yr in total revenue (your liquor portion of $4,684,698 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

$10,410k–$18,739k

food + liquor + service

Estimated net (10–15%)

$1,041k–$2,811k

restaurant margin

Full-business value

$2,863k–$10,306k

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 2026-05-25

Lookup pending — check back tomorrow

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Financials

Executive Summary

Sales performance · last 12 months

Property & occupancy

Occupancy analysis

Profit scenarios

Owner income estimator

Acquisition value estimate

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

Federal court history