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MB950975
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Del Frisco's Double Eagle Steak House

2323 OLIVE ST, Dallas, TX 75201 · TABC MB950975

Mixed Beverage Dallas Market Enriched 2026-05-24
$2,380,487 Annual gross (L12M) ▲ 6.3% latest MoM Click for monthly detail
$198,374 Avg monthly ▼ 8.3% latest vs avg Click for monthly detail
~22% Est. net margin (likely) $527,137/yr est. net Click for cost model
$1,318k–$1,845k Est. acquisition range 0.66× 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): $5,951,218 – $9,521,948/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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Del Frisco's Double Eagle Steak House is a mixed-beverage licensed establishment at 2323 OLIVE ST, Dallas, Texas (TABC MB950975). Over the most recent 12 months it reported $2,380,487 in gross alcohol sales, averaging $198,374/month with a best month of $412,124. Sales mix: ~48% liquor · 3% beer · 49% wine. The building at this address is owned by GPI HRLP M&O LP (1,867,283 sqft, $359,673,990 assessed value per county records). Applying Texas bar cost benchmarks yields an estimated annual net of approximately $527,137 (~22% margin). Acquisition value is estimated at $1,318k–$1,845k 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
$2,380,487
Avg monthly
$198,374
Best month
$412,124
Dec 2025
Sales mix
48% Liq
3% Beer · 49% Wine

Property & occupancy

County public records + submarket comps

Building (landlord parcel)

Record ID000948000A0010000
Property owner (landlord)GPI HRLP M&O LP
Total building SF1,867,283
Assessed value$359,673,990

Del Frisco's Double Eagle Steak House's share

Est. base rent ~$19/sqft/yr · 7,500 sqft · Class B $12,039/mo
NNN CAM / insurance$1,806/mo
NNN property tax$2,889/mo
Personal property tax own fixtures · Prop 99110519820000000 $19,481/mo
Total occupancy $36,215/mo

Occupancy analysis

All-in occupancy cost is 18.3% 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 $2,380,487 gross revenue estimated

Best Case
No kitchen, efficient staffing, favorable lease
~32%
Revenue$2,380,487
COGS (24%)−$571,317
Labor (14%)−$333,268
Occupancy−$391,122
TX MB gross tax (6.7%)−$159,493
Utilities / ins / mktg (8%)−$190,439
Card surcharge net+$26,185
Net profit $761,034
Most Likely
Typical bar, light food program, full two-shift staffing
~22%
Revenue$2,380,487
COGS (27%)−$642,731
Labor (17%)−$404,683
Occupancy−$434,580
TX MB gross tax (6.7%)−$159,493
Utilities / ins / mktg (10%)−$238,049
Card surcharge net+$26,185
Net profit $527,137
Stressed
Heavy food, larger crew, higher rent
~10%
Revenue$2,380,487
COGS (30%)−$714,146
Labor (22%)−$523,707
Occupancy−$478,038
TX MB gross tax (6.7%)−$159,493
Utilities / ins / mktg (12%)−$285,658
Card surcharge net+$26,185
Net profit $245,630
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 Df Beverage CORP looking up officers…
3
Equal split (50% each)
Based on the "Most Likely" scenario net profit of $527,137/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 (~$527,137 net) estimated

Revenue multiple
$1.19M–$1.90M
0.5–0.8× gross
SDE multiple
$1.32M–$1.84M
2.5–3.5× earnings
Cap rate
$1.60M–$2.11M
25–33%
Suggested range
$1,318k–$1,845k
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 $5,951,218–$9,521,948/yr in total revenue (your liquor portion of $2,380,487 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
$5,951k–$9,522k
food + liquor + service
Estimated net (10–15%)
$595k–$1,428k
restaurant margin
Full-business value
$1,637k–$5,237k
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

No federal lawsuits — past or pending