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Financials

MB481041
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Saltgrass Steakhouse

1803 SHEPHERD DR, Houston, TX 77007 · TABC MB481041

Mixed Beverage Houston Market Enriched 2026-08-27
$369,585 Annual gross (L12M) ▼ 19.4% latest MoM Click for monthly detail
$30,799 Avg monthly ▼ 13.5% latest vs avg Click for monthly detail
~22% Est. net margin (likely) $82,787/yr est. net Click for cost model
$207k–$290k Est. acquisition range 0.67× 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 Steakhouse, liquor is typically only 25–40% of total business revenue. Steakhouse. Total revenue is typically 2.5–4× our liquor figure (high food average ticket). Estimated total revenue (rough): $923,962 – $1,478,340/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

Saltgrass Steakhouse is a mixed-beverage licensed establishment at 1803 SHEPHERD DR, Houston, Texas (TABC MB481041). Over the most recent 12 months it reported $369,585 in gross alcohol sales, averaging $30,799/month with a best month of $39,955. Sales mix: ~62% liquor · 18% beer · 20% wine. The building at this address is owned by ISLAND ENTERTAINMENT INC (2,500 sqft, $2,756,216 assessed value per county records). Applying Texas bar cost benchmarks yields an estimated annual net of approximately $82,787 (~22% margin). Acquisition value is estimated at $207k–$290k 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
$369,585
Avg monthly
$30,799
Best month
$39,955
Dec 2025
Sales mix
62% Liq
18% Beer · 20% Wine

Property & occupancy

County public records + submarket comps

Building (landlord parcel)

Record ID0072850000006
Property owner (landlord)ISLAND ENTERTAINMENT INC
Total building SF2,500
Assessed value$2,756,216

Saltgrass Steakhouse's share

Est. base rent ~$11/sqft/yr · 2,500 sqft · Class A $2,337/mo
NNN CAM / insurance$351/mo
NNN property tax$2,756/mo
Personal property tax est — no BPP record $100/mo
Total occupancy $5,544/mo

Occupancy analysis

All-in occupancy cost is 18.0% 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 $369,585 gross revenue estimated

Best Case
No kitchen, efficient staffing, favorable lease
~32%
Revenue$369,585
COGS (24%)−$88,700
Labor (14%)−$51,742
Occupancy−$59,873
TX MB gross tax (6.7%)−$24,762
Utilities / ins / mktg (8%)−$29,567
Card surcharge net+$4,065
Net profit $119,006
Most Likely
Typical bar, light food program, full two-shift staffing
~22%
Revenue$369,585
COGS (27%)−$99,788
Labor (17%)−$62,829
Occupancy−$66,525
TX MB gross tax (6.7%)−$24,762
Utilities / ins / mktg (10%)−$36,958
Card surcharge net+$4,065
Net profit $82,787
Stressed
Heavy food, larger crew, higher rent
~11%
Revenue$369,585
COGS (30%)−$110,876
Labor (22%)−$81,309
Occupancy−$73,178
TX MB gross tax (6.7%)−$24,762
Utilities / ins / mktg (12%)−$44,350
Card surcharge net+$4,065
Net profit $39,176
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 The Hofbrau INC looking up officers…
3
Equal split (50% each)
Based on the "Most Likely" scenario net profit of $82,787/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 (~$82,787 net) estimated

Revenue multiple
$185k–$296k
0.5–0.8× gross
SDE multiple
$207k–$290k
2.5–3.5× earnings
Cap rate
$251k–$331k
25–33%
Suggested range
$207k–$290k
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 · Steakhouse

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

We estimate this steakhouse pulls $923,962–$1,478,340/yr in total revenue (your liquor portion of $369,585 is roughly 25–40% 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
$924k–$1,478k
food + liquor + service
Estimated net (10–15%)
$92k–$222k
restaurant margin
Full-business value
$254k–$813k
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 2026-07-07

No federal lawsuits — past or pending