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MB843899
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Morton's Grille

25 WATERWAY AVE, Spring, TX 77380 · TABC MB843899

Mixed Beverage Spring Market Enriched 2026-06-15
$1,252,025 Annual gross (L12M) ▼ 7.4% latest MoM Click for monthly detail
$104,335 Avg monthly ▼ 15.5% latest vs avg Click for monthly detail
~28% Est. net margin (likely) $351,882/yr est. net Click for cost model
$880k–$1,232k Est. acquisition range 0.84× 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): $3,130,062 – $5,008,100/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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Morton's Grille is a mixed-beverage licensed establishment at 25 WATERWAY AVE, Spring, Texas (TABC MB843899). Over the most recent 12 months it reported $1,252,025 in gross alcohol sales, averaging $104,335/month with a best month of $163,993. Sales mix: ~44% liquor · 5% beer · 51% wine. Applying Texas bar cost benchmarks yields an estimated annual net of approximately $351,882 (~28% margin). Acquisition value is estimated at $880k–$1,232k 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
$1,252,025
Avg monthly
$104,335
Best month
$163,993
Dec 2025
Sales mix
44% Liq
5% Beer · 51% Wine

Property & occupancy

County public records + submarket comps

Detailed property records not available for this location. Occupancy below uses submarket heuristics only.

Estimated occupancy heuristic

Est. base rent (10.5% of gross)$10,955/mo
NNN CAM / insurance$1,643/mo
Total occupancy$12,828/mo

Note

County property records couldn't be matched to this address. Occupancy is modeled from a revenue-based heuristic and is less accurate than a direct property record match.

Profit scenarios

Texas bar cost model applied to $1,252,025 gross revenue estimated

Best Case
No kitchen, efficient staffing, favorable lease
~37%
Revenue$1,252,025
COGS (24%)−$300,486
Labor (14%)−$175,284
Occupancy−$138,543
TX MB gross tax (6.7%)−$83,886
Utilities / ins / mktg (8%)−$100,162
Card surcharge net+$13,772
Net profit $467,437
Most Likely
Typical bar, light food program, full two-shift staffing
~28%
Revenue$1,252,025
COGS (27%)−$338,047
Labor (17%)−$212,844
Occupancy−$153,936
TX MB gross tax (6.7%)−$83,886
Utilities / ins / mktg (10%)−$125,202
Card surcharge net+$13,772
Net profit $351,882
Stressed
Heavy food, larger crew, higher rent
~17%
Revenue$1,252,025
COGS (30%)−$375,608
Labor (22%)−$275,446
Occupancy−$169,330
TX MB gross tax (6.7%)−$83,886
Utilities / ins / mktg (12%)−$150,243
Card surcharge net+$13,772
Net profit $211,285
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/Woodlands INC looking up officers…
3
Equal split (50% each)
Based on the "Most Likely" scenario net profit of $351,882/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 (~$351,882 net) estimated

Revenue multiple
$626k–$1.00M
0.5–0.8× gross
SDE multiple
$880k–$1.23M
2.5–3.5× earnings
Cap rate
$1.07M–$1.41M
25–33%
Suggested range
$880k–$1,232k
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 $3,130,062–$5,008,100/yr in total revenue (your liquor portion of $1,252,025 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
$3,130k–$5,008k
food + liquor + service
Estimated net (10–15%)
$313k–$751k
restaurant margin
Full-business value
$861k–$2,754k
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

Lookup pending — check back tomorrow

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