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Financials

MB934924
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Steak 48

4444 WESTHEIMER RD STE A01, Houston, TX 77027 · TABC MB934924

Mixed Beverage Houston Market Enriched 2026-05-24
$7,173,214 Annual gross (L12M) ▼ 7.5% latest MoM Click for monthly detail
$597,768 Avg monthly ▼ 5.4% latest vs avg Click for monthly detail
~37% Est. net margin (likely) $2,683,977/yr est. net Click for cost model
$6,710k–$7,173k Est. acquisition range 0.97× 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): $17,933,035 – $28,692,856/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

Steak 48 is a mixed-beverage licensed establishment at 4444 WESTHEIMER RD STE A01, Houston, Texas (TABC MB934924). Over the most recent 12 months it reported $7,173,214 in gross alcohol sales, averaging $597,768/month with a best month of $867,535. Sales mix: ~49% liquor · 1% beer · 49% wine. The building at this address is owned by ROD PROJECT OWNER LLC (1,569,960 sqft, $313,240,633 assessed value per county records). Applying Texas bar cost benchmarks yields an estimated annual net of approximately $2,683,977 (~37% margin). Acquisition value is estimated at $6,710k–$7,173k 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
$7,173,214
Avg monthly
$597,768
Best month
$867,535
Dec 2025
Sales mix
49% Liq
1% Beer · 49% Wine

Property & occupancy

County public records + submarket comps

Building (landlord parcel)

Record ID1404410000003
Property owner (landlord)ROD PROJECT OWNER LLC
Total building SF whole parcel — Steak 48 is in STE A011,569,960
Steak 48's footprint estimated — suite-level not on file 7,500 sf
Assessed value$313,240,633

Steak 48's share

Est. base rent ~$20/sqft/yr · 7,500 sqft · Class B $12,470/mo
NNN CAM / insurance$1,871/mo
NNN property tax$2,993/mo
Personal property tax est — no BPP record $500/mo
Total occupancy $17,833/mo

Occupancy analysis

All-in occupancy cost is 3.0% 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 $7,173,214 gross revenue estimated

Best Case
No kitchen, efficient staffing, favorable lease
~46%
Revenue$7,173,214
COGS (24%)−$1,721,571
Labor (14%)−$1,004,250
Occupancy−$192,601
TX MB gross tax (6.7%)−$480,605
Utilities / ins / mktg (8%)−$573,857
Card surcharge net+$78,905
Net profit $3,279,235
Most Likely
Typical bar, light food program, full two-shift staffing
~37%
Revenue$7,173,214
COGS (27%)−$1,936,768
Labor (17%)−$1,219,446
Occupancy−$214,001
TX MB gross tax (6.7%)−$480,605
Utilities / ins / mktg (10%)−$717,321
Card surcharge net+$78,905
Net profit $2,683,977
Stressed
Heavy food, larger crew, higher rent
~27%
Revenue$7,173,214
COGS (30%)−$2,151,964
Labor (22%)−$1,578,107
Occupancy−$235,401
TX MB gross tax (6.7%)−$480,605
Utilities / ins / mktg (12%)−$860,786
Card surcharge net+$78,905
Net profit $1,945,256
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 Steak 48 River Oaks LLC looking up officers…
1
Equal split (50% each)
Based on the "Most Likely" scenario net profit of $2,683,977/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 (~$2,683,977 net) estimated

Revenue multiple
$3.59M–$5.74M
0.5–0.8× gross
SDE multiple
$6.71M–$9.39M
2.5–3.5× earnings
Cap rate
$8.13M–$10.74M
25–33%
Suggested range
$6,710k–$7,173k
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 $17,933,035–$28,692,856/yr in total revenue (your liquor portion of $7,173,214 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
$17,933k–$28,693k
food + liquor + service
Estimated net (10–15%)
$1,793k–$4,304k
restaurant margin
Full-business value
$4,932k–$15,781k
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 2026-05-22

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