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Financials

MB909089
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The Rustic

3656 HOWELL ST, Dallas, TX 75204 · TABC MB909089

Mixed Beverage Dallas Market Enriched 2026-05-24
$2,620,354 Annual gross (L12M) ▼ 8.1% latest MoM Click for monthly detail
$218,363 Avg monthly ▼ 1.0% latest vs avg Click for monthly detail
~22% Est. net margin (likely) $586,959/yr est. net Click for cost model
$1,467k–$2,054k 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 Music Venue, liquor is typically only 60–85% of total business revenue. Bar + ticket revenue. Estimated total revenue (rough): $3,082,769 – $4,367,257/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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The Rustic is a mixed-beverage licensed establishment at 3656 HOWELL ST, Dallas, Texas (TABC MB909089). Over the most recent 12 months it reported $2,620,354 in gross alcohol sales, averaging $218,363/month with a best month of $316,914. Sales mix: ~68% liquor · 24% beer · 8% wine. The building at this address is owned by BLACKBURN CENTRAL (8,058 sqft, $12,609,570 assessed value per county records). Applying Texas bar cost benchmarks yields an estimated annual net of approximately $586,959 (~22% margin). Acquisition value is estimated at $1,467k–$2,054k 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
$2,620,354
Avg monthly
$218,363
Best month
$316,914
Oct 2025
Sales mix
68% Liq
24% Beer · 8% Wine

Property & occupancy

County public records + submarket comps

Building (landlord parcel)

Record ID000639000101C0000
Property owner (landlord)BLACKBURN CENTRAL
Total building SF8,058
Assessed value$12,609,570

The Rustic's share

Est. base rent ~$36/sqft/yr · 7,500 sqft · Class A $22,690/mo
NNN CAM / insurance$3,404/mo
NNN property tax$12,610/mo
Personal property tax own fixtures · Prop 99140729320000000 $602/mo
Total occupancy $39,305/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 $2,620,354 gross revenue estimated

Best Case
No kitchen, efficient staffing, favorable lease
~32%
Revenue$2,620,354
COGS (24%)−$628,885
Labor (14%)−$366,850
Occupancy−$424,497
TX MB gross tax (6.7%)−$175,564
Utilities / ins / mktg (8%)−$209,628
Card surcharge net+$28,824
Net profit $843,754
Most Likely
Typical bar, light food program, full two-shift staffing
~22%
Revenue$2,620,354
COGS (27%)−$707,496
Labor (17%)−$445,460
Occupancy−$471,664
TX MB gross tax (6.7%)−$175,564
Utilities / ins / mktg (10%)−$262,035
Card surcharge net+$28,824
Net profit $586,959
Stressed
Heavy food, larger crew, higher rent
~11%
Revenue$2,620,354
COGS (30%)−$786,106
Labor (22%)−$576,478
Occupancy−$518,830
TX MB gross tax (6.7%)−$175,564
Utilities / ins / mktg (12%)−$314,442
Card surcharge net+$28,824
Net profit $277,758
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 Free Range Concepts Liquor LLC looking up officers…
2
Equal split (50% each)
Based on the "Most Likely" scenario net profit of $586,959/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 (~$586,959 net) estimated

Revenue multiple
$1.31M–$2.10M
0.5–0.8× gross
SDE multiple
$1.47M–$2.05M
2.5–3.5× earnings
Cap rate
$1.78M–$2.35M
25–33%
Suggested range
$1,467k–$2,054k
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.

Federal court history

Public records · last checked 2026-06-16

Lookup pending — check back tomorrow

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