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Financials

MB200056682
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Cowtown Coliseum

121 E EXCHANGE AVE, Fort Worth, TX 76164 · TABC MB200056682

Mixed Beverage Fort Worth Market Enriched 2026-05-24
$4,293,369 Annual gross (L12M) ▼ 1.1% latest MoM Click for monthly detail
$357,781 Avg monthly ▲ 0.2% latest vs avg Click for monthly detail
~35% Est. net margin (likely) $1,523,553/yr est. net Click for cost model
$3,809k–$4,293k Est. acquisition range 0.94× 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 Stadium / Arena, liquor is typically only 50–75% of total business revenue. Concessions liquor + food. Estimated total revenue (rough): $5,724,492 – $8,586,738/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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Cowtown Coliseum is a mixed-beverage licensed establishment at 121 E EXCHANGE AVE, Fort Worth, Texas (TABC MB200056682). Over the most recent 12 months it reported $4,293,369 in gross alcohol sales, averaging $357,781/month with a best month of $502,484. Sales mix: ~57% liquor · 42% beer · 0% wine. The building at this address is owned by FORT WORTH CITY OF (46,824 sqft, $9,206,144 assessed value per county records). Applying Texas bar cost benchmarks yields an estimated annual net of approximately $1,523,553 (~35% margin). Acquisition value is estimated at $3,809k–$4,293k 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
$4,293,369
Avg monthly
$357,781
Best month
$502,484
Dec 2025
Sales mix
57% Liq
42% Beer · 0% Wine

Property & occupancy

County public records + submarket comps

Building (landlord parcel)

Record ID03182479
Property owner (landlord)FORT WORTH CITY OF
Total building SF46,824
Assessed value$9,206,144

Cowtown Coliseum's share

Est. base rent ~$20/sqft/yr · 7,500 sqft · Class B $12,288/mo
NNN CAM / insurance$1,843/mo
NNN property tax$2,949/mo
Personal property tax est — no BPP record $500/mo
Total occupancy $17,581/mo

Occupancy analysis

All-in occupancy cost is 4.9% 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 $4,293,369 gross revenue estimated

Best Case
No kitchen, efficient staffing, favorable lease
~44%
Revenue$4,293,369
COGS (24%)−$1,030,409
Labor (14%)−$601,072
Occupancy−$189,871
TX MB gross tax (6.7%)−$287,656
Utilities / ins / mktg (8%)−$343,470
Card surcharge net+$47,227
Net profit $1,888,120
Most Likely
Typical bar, light food program, full two-shift staffing
~35%
Revenue$4,293,369
COGS (27%)−$1,159,210
Labor (17%)−$729,873
Occupancy−$210,968
TX MB gross tax (6.7%)−$287,656
Utilities / ins / mktg (10%)−$429,337
Card surcharge net+$47,227
Net profit $1,523,553
Stressed
Heavy food, larger crew, higher rent
~25%
Revenue$4,293,369
COGS (30%)−$1,288,011
Labor (22%)−$944,541
Occupancy−$232,064
TX MB gross tax (6.7%)−$287,656
Utilities / ins / mktg (12%)−$515,204
Card surcharge net+$47,227
Net profit $1,073,120
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 Smg F&B Texas LLC looking up officers…
4
Equal split (50% each)
Based on the "Most Likely" scenario net profit of $1,523,553/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 (~$1,523,553 net) estimated

Revenue multiple
$2.15M–$3.43M
0.5–0.8× gross
SDE multiple
$3.81M–$5.33M
2.5–3.5× earnings
Cap rate
$4.62M–$6.09M
25–33%
Suggested range
$3,809k–$4,293k
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 2026-05-22

No federal lawsuits — past or pending