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MB628379
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Iron Cactus

200 RIVER WALK ST STE 100&101, San Antonio, TX 78205 · TABC MB628379

Mixed Beverage San Antonio Market Enriched 2026-05-24
$2,324,679 Annual gross (L12M) ▼ 20.8% latest MoM Click for monthly detail
$193,723 Avg monthly ▼ 4.9% latest vs avg Click for monthly detail
~22% Est. net margin (likely) $520,728/yr est. net Click for cost model
$1,302k–$1,823k 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): $5,165,953 – $9,298,716/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

Iron Cactus is a mixed-beverage licensed establishment at 200 RIVER WALK ST STE 100&101, San Antonio, Texas (TABC MB628379). Over the most recent 12 months it reported $2,324,679 in gross alcohol sales, averaging $193,723/month with a best month of $235,589. Sales mix: ~84% liquor · 13% beer · 3% wine. The building at this address is owned by RIVERWALK HOTEL & SPA CORP (4,095 sqft, $2,578,500 assessed value per county records). Applying Texas bar cost benchmarks yields an estimated annual net of approximately $520,728 (~22% margin). Acquisition value is estimated at $1,302k–$1,823k 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
$2,324,679
Avg monthly
$193,723
Best month
$235,589
May 2025
Sales mix
84% Liq
13% Beer · 3% Wine

Property & occupancy

County public records + submarket comps

Building (landlord parcel)

Record ID101351
Property owner (landlord)RIVERWALK HOTEL & SPA CORP
Total building SF whole parcel — Iron Cactus is in STE 1004,095
Iron Cactus's footprint estimated — suite-level not on file 7,500 sf
Assessed value$2,578,500

Iron Cactus's share

Est. base rent ~$45/sqft/yr · 7,500 sqft · Class A $27,918/mo
NNN CAM / insurance$4,188/mo
NNN property tax$2,471/mo
Personal property tax own fixtures · Prop 1089252 $294/mo
Total occupancy $34,870/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 $2,324,679 gross revenue estimated

Best Case
No kitchen, efficient staffing, favorable lease
~32%
Revenue$2,324,679
COGS (24%)−$557,923
Labor (14%)−$325,455
Occupancy−$376,598
TX MB gross tax (6.7%)−$155,753
Utilities / ins / mktg (8%)−$185,974
Card surcharge net+$25,571
Net profit $748,547
Most Likely
Typical bar, light food program, full two-shift staffing
~22%
Revenue$2,324,679
COGS (27%)−$627,663
Labor (17%)−$395,195
Occupancy−$418,442
TX MB gross tax (6.7%)−$155,753
Utilities / ins / mktg (10%)−$232,468
Card surcharge net+$25,571
Net profit $520,728
Stressed
Heavy food, larger crew, higher rent
~11%
Revenue$2,324,679
COGS (30%)−$697,404
Labor (22%)−$511,429
Occupancy−$460,286
TX MB gross tax (6.7%)−$155,753
Utilities / ins / mktg (12%)−$278,961
Card surcharge net+$25,571
Net profit $246,416
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 Riverwalk Cactus Management INC looking up officers…
2
Equal split (50% each)
Based on the "Most Likely" scenario net profit of $520,728/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 (~$520,728 net) estimated

Revenue multiple
$1.16M–$1.86M
0.5–0.8× gross
SDE multiple
$1.30M–$1.82M
2.5–3.5× earnings
Cap rate
$1.58M–$2.08M
25–33%
Suggested range
$1,302k–$1,823k
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 $5,165,953–$9,298,716/yr in total revenue (your liquor portion of $2,324,679 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
$5,166k–$9,299k
food + liquor + service
Estimated net (10–15%)
$517k–$1,395k
restaurant margin
Full-business value
$1,421k–$5,114k
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 2026-05-29

Lookup pending — check back tomorrow

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