Morton's - The Steakhouse — Houston, TX | Financial Intelligence

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): $3,451,928 – $5,523,084/year. Treat the valuation below as a screening estimate based on the alcohol portion alone.

Executive Summary

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Morton's - The Steakhouse is a mixed-beverage licensed establishment at 1001 MCKINNEY ST STE 100, Houston, Texas (TABC MB643881). Over the most recent 12 months it reported $1,380,771 in gross alcohol sales, averaging $115,064/month with a best month of $202,333. Sales mix: ~44% liquor · 5% beer · 52% wine. The building at this address is owned by HOUSTON OFFICE ACQUISITION 2022 CO LLC (212,065 sqft, $54,833,480 assessed value per county records). Applying Texas bar cost benchmarks yields an estimated annual net of approximately $345,077 (~25% margin). Acquisition value is estimated at $863k–$1,208k 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

$1,380,771

Avg monthly

$115,064

Best month

$202,333

Dec 2025

Sales mix

44% Liq

5% Beer · 52% Wine

Property & occupancy

County public records + submarket comps

Building (landlord parcel)

Record ID0011370000011

Property owner (landlord)HOUSTON OFFICE ACQUISITION 2022 CO LLC

Total building SF whole parcel — Morton's - The Steakhouse is in STE 100212,065

Morton's - The Steakhouse's footprint estimated — suite-level not on file 5,000 sf

Assessed value$54,833,480

Morton's - The Steakhouse's share

Est. base rent ~$31/sqft/yr · 5,000 sqft · Class A $12,928/mo

NNN CAM / insurance$1,939/mo

NNN property tax$2,586/mo

Personal property tax est — no BPP record $276/mo

Total occupancy $17,730/mo

Occupancy analysis

All-in occupancy cost is 15.4% 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 $1,380,771 gross revenue estimated

Best Case

No kitchen, efficient staffing, favorable lease

~35%

Revenue$1,380,771

COGS (24%)−$331,385

Labor (14%)−$193,308

Occupancy−$191,479

TX MB gross tax (6.7%)−$92,512

Utilities / ins / mktg (8%)−$110,462

Card surcharge net+$15,188

Net profit $476,814

Most Likely

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

~25%

Revenue$1,380,771

COGS (27%)−$372,808

Labor (17%)−$234,731

Occupancy−$212,755

TX MB gross tax (6.7%)−$92,512

Utilities / ins / mktg (10%)−$138,077

Card surcharge net+$15,188

Net profit $345,077

Stressed

Heavy food, larger crew, higher rent

~13%

Revenue$1,380,771

COGS (30%)−$414,231

Labor (22%)−$303,770

Occupancy−$234,030

TX MB gross tax (6.7%)−$92,512

Utilities / ins / mktg (12%)−$165,693

Card surcharge net+$15,188

Net profit $185,724

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 Morton's Of Chicago/Mckinney LLC looking up officers…

Number of owners

Ownership split

Equal split (50% each)

Based on the "Most Likely" scenario net profit of $345,077/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 (~$345,077 net) estimated

Revenue multiple

$690k–$1.10M

0.5–0.8× gross

SDE multiple

$863k–$1.21M

2.5–3.5× earnings

Cap rate

$1.05M–$1.38M

25–33%

Suggested range

$863k–$1,208k

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 $3,451,928–$5,523,084/yr in total revenue (your liquor portion of $1,380,771 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

$3,452k–$5,523k

food + liquor + service

Estimated net (10–15%)

$345k–$828k

restaurant margin

Full-business value

$949k–$3,038k

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 2026-06-09

Lookup pending — check back tomorrow

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Financials

Morton's - The Steakhouse

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