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Financials

MB976157
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Buzzard Billy's

100 N JACK KULTGEN EXPY, Waco, TX 76704 · TABC MB976157

Mixed Beverage Waco Market Enriched 2026-07-10
$396,128 Annual gross (L12M) ▲ 23.9% latest MoM Click for monthly detail
$33,011 Avg monthly ▲ 17.1% latest vs avg Click for monthly detail
~28% Est. net margin (likely) $111,053/yr est. net Click for cost model
$278k–$389k 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 Bar, liquor is typically only 90–100% of total business revenue. Mostly liquor — our number is ~total revenue. Estimated total revenue (rough): $396,128 – $440,142/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

Buzzard Billy's is a mixed-beverage licensed establishment at 100 N JACK KULTGEN EXPY, Waco, Texas (TABC MB976157). Over the most recent 12 months it reported $396,128 in gross alcohol sales, averaging $33,011/month with a best month of $50,979. Sales mix: ~59% liquor · 26% beer · 16% wine. Applying Texas bar cost benchmarks yields an estimated annual net of approximately $111,053 (~28% margin). Acquisition value is estimated at $278k–$389k 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
$396,128
Avg monthly
$33,011
Best month
$50,979
Aug 2025
Sales mix
59% Liq
26% Beer · 16% 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)$3,466/mo
NNN CAM / insurance$520/mo
Total occupancy$4,082/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 $396,128 gross revenue estimated

Best Case
No kitchen, efficient staffing, favorable lease
~37%
Revenue$396,128
COGS (24%)−$95,071
Labor (14%)−$55,458
Occupancy−$44,084
TX MB gross tax (6.7%)−$26,541
Utilities / ins / mktg (8%)−$31,690
Card surcharge net+$4,357
Net profit $147,642
Most Likely
Typical bar, light food program, full two-shift staffing
~28%
Revenue$396,128
COGS (27%)−$106,955
Labor (17%)−$67,342
Occupancy−$48,982
TX MB gross tax (6.7%)−$26,541
Utilities / ins / mktg (10%)−$39,613
Card surcharge net+$4,357
Net profit $111,053
Stressed
Heavy food, larger crew, higher rent
~17%
Revenue$396,128
COGS (30%)−$118,838
Labor (22%)−$87,148
Occupancy−$53,881
TX MB gross tax (6.7%)−$26,541
Utilities / ins / mktg (12%)−$47,535
Card surcharge net+$4,357
Net profit $66,542
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 Brazos Waterfront LLC looking up officers…
2
Equal split (50% each)
Based on the "Most Likely" scenario net profit of $111,053/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 (~$111,053 net) estimated

Revenue multiple
$198k–$317k
0.5–0.8× gross
SDE multiple
$278k–$389k
2.5–3.5× earnings
Cap rate
$337k–$444k
25–33%
Suggested range
$278k–$389k
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 2026-06-26

No federal lawsuits — past or pending