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Financials

MB200157814
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Dragonfly

2332 LEONARD ST, Dallas, TX 75201 · TABC MB200157814

Mixed Beverage Dallas Market Enriched 2026-05-24
$1,897,867 Annual gross (L12M) ▲ 14.7% latest MoM Click for monthly detail
$158,156 Avg monthly ▼ 16.9% latest vs avg Click for monthly detail
~31% Est. net margin (likely) $584,371/yr est. net Click for cost model
$1,461k–$1,898k Est. acquisition range 0.88× 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): $1,997,755 – $2,232,785/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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Dragonfly is a mixed-beverage licensed establishment at 2332 LEONARD ST, Dallas, Texas (TABC MB200157814). Over the most recent 12 months it reported $1,897,867 in gross alcohol sales, averaging $158,156/month with a best month of $221,211. Sales mix: ~66% liquor · 7% beer · 27% wine. The building at this address is owned by RB ZAZA DALLAS LLC (214,102 sqft, $47,000,000 assessed value per county records). Applying Texas bar cost benchmarks yields an estimated annual net of approximately $584,371 (~31% margin). Acquisition value is estimated at $1,461k–$1,898k 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
$1,897,867
Avg monthly
$158,156
Best month
$221,211
Dec 2025
Sales mix
66% Liq
7% Beer · 27% Wine

Property & occupancy

County public records + submarket comps

Building (landlord parcel)

Record ID000548000B03C0000
Property owner (landlord)RB ZAZA DALLAS LLC
Total building SF214,102
Assessed value$47,000,000

Dragonfly's share

Est. base rent ~$26/sqft/yr · 5,000 sqft · Class A $10,976/mo
NNN CAM / insurance$1,646/mo
NNN property tax$2,195/mo
Personal property tax est — no BPP record $380/mo
Total occupancy $15,197/mo

Occupancy analysis

All-in occupancy cost is 9.6% 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 $1,897,867 gross revenue estimated

Best Case
No kitchen, efficient staffing, favorable lease
~40%
Revenue$1,897,867
COGS (24%)−$455,488
Labor (14%)−$265,701
Occupancy−$164,131
TX MB gross tax (6.7%)−$127,157
Utilities / ins / mktg (8%)−$151,829
Card surcharge net+$20,877
Net profit $754,437
Most Likely
Typical bar, light food program, full two-shift staffing
~31%
Revenue$1,897,867
COGS (27%)−$512,424
Labor (17%)−$322,637
Occupancy−$182,367
TX MB gross tax (6.7%)−$127,157
Utilities / ins / mktg (10%)−$189,787
Card surcharge net+$20,877
Net profit $584,371
Stressed
Heavy food, larger crew, higher rent
~20%
Revenue$1,897,867
COGS (30%)−$569,360
Labor (22%)−$417,531
Occupancy−$200,604
TX MB gross tax (6.7%)−$127,157
Utilities / ins / mktg (12%)−$227,744
Card surcharge net+$20,877
Net profit $376,348
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 Zaza Dallas Bevco LLC looking up officers…
1
Equal split (50% each)
Based on the "Most Likely" scenario net profit of $584,371/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 (~$584,371 net) estimated

Revenue multiple
$949k–$1.52M
0.5–0.8× gross
SDE multiple
$1.46M–$2.05M
2.5–3.5× earnings
Cap rate
$1.77M–$2.34M
25–33%
Suggested range
$1,461k–$1,898k
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 2026-06-03

Lookup pending — check back tomorrow

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