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Financials

MB535007
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Truluck's Seafood Steak And Crab House

10225 RESEARCH BLVD STE 4000, Austin, TX 78759 · TABC MB535007

Mixed Beverage Austin Market Enriched 2026-06-15
$1,273,056 Annual gross (L12M) ▲ 20.8% latest MoM Click for monthly detail
$106,088 Avg monthly ▲ 2.7% latest vs avg Click for monthly detail
~22% Est. net margin (likely) $285,165/yr est. net Click for cost model
$713k–$998k 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 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): $2,829,013 – $5,092,224/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

Truluck's Seafood Steak And Crab House is a mixed-beverage licensed establishment at 10225 RESEARCH BLVD STE 4000, Austin, Texas (TABC MB535007). Over the most recent 12 months it reported $1,273,056 in gross alcohol sales, averaging $106,088/month with a best month of $145,581. Sales mix: ~49% liquor · 2% beer · 50% wine. The building at this address is owned by GREAT HILLS RETAIL INC (44,822 sqft, $27,292,734 assessed value per county records). Applying Texas bar cost benchmarks yields an estimated annual net of approximately $285,165 (~22% margin). Acquisition value is estimated at $713k–$998k 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
$1,273,056
Avg monthly
$106,088
Best month
$145,581
Dec 2025
Sales mix
49% Liq
2% Beer · 50% Wine

Property & occupancy

County public records + submarket comps

Building (landlord parcel)

Record ID369370
Property owner (landlord)GREAT HILLS RETAIL INC
Total building SF whole parcel — Truluck's Seafood Steak And Crab House is in STE 400044,822
Truluck's Seafood Steak And Crab House's footprint estimated — suite-level not on file 5,000 sf
Assessed value$27,292,734

Truluck's Seafood Steak And Crab House's share

Est. base rent ~$29/sqft/yr · 5,000 sqft · Class A $12,008/mo
NNN CAM / insurance$1,801/mo
NNN property tax$5,074/mo
Personal property tax est — no BPP record $212/mo
Total occupancy $19,096/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 $1,273,056 gross revenue estimated

Best Case
No kitchen, efficient staffing, favorable lease
~32%
Revenue$1,273,056
COGS (24%)−$305,533
Labor (14%)−$178,228
Occupancy−$206,235
TX MB gross tax (6.7%)−$85,295
Utilities / ins / mktg (8%)−$101,844
Card surcharge net+$14,004
Net profit $409,924
Most Likely
Typical bar, light food program, full two-shift staffing
~22%
Revenue$1,273,056
COGS (27%)−$343,725
Labor (17%)−$216,420
Occupancy−$229,150
TX MB gross tax (6.7%)−$85,295
Utilities / ins / mktg (10%)−$127,306
Card surcharge net+$14,004
Net profit $285,165
Stressed
Heavy food, larger crew, higher rent
~11%
Revenue$1,273,056
COGS (30%)−$381,917
Labor (22%)−$280,072
Occupancy−$252,065
TX MB gross tax (6.7%)−$85,295
Utilities / ins / mktg (12%)−$152,767
Card surcharge net+$14,004
Net profit $134,944
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 10225 Research Blvd Partners L.L.C looking up officers…
2
Equal split (50% each)
Based on the "Most Likely" scenario net profit of $285,165/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 (~$285,165 net) estimated

Revenue multiple
$637k–$1.02M
0.5–0.8× gross
SDE multiple
$713k–$998k
2.5–3.5× earnings
Cap rate
$864k–$1.14M
25–33%
Suggested range
$713k–$998k
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 $2,829,013–$5,092,224/yr in total revenue (your liquor portion of $1,273,056 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
$2,829k–$5,092k
food + liquor + service
Estimated net (10–15%)
$283k–$764k
restaurant margin
Full-business value
$778k–$2,801k
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 2026-06-12

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