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Financials

MB106128407
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Dickies Arena

1911 MONTGOMERY ST, Fort Worth, TX 76107 · TABC MB106128407

Mixed Beverage Fort Worth Market Enriched 2026-05-24
$10,211,757 Annual gross (L12M) ▲ 3.4% latest MoM Click for monthly detail
$850,980 Avg monthly ▼ 18.8% latest vs avg Click for monthly detail
~28% Est. net margin (likely) $2,833,111/yr est. net Click for cost model
$7,083k–$9,916k Est. acquisition range 0.83× 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): $13,615,676 – $20,423,514/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

Dickies Arena is a mixed-beverage licensed establishment at 1911 MONTGOMERY ST, Fort Worth, Texas (TABC MB106128407). Over the most recent 12 months it reported $10,211,757 in gross alcohol sales, averaging $850,980/month with a best month of $2,125,624. Sales mix: ~46% liquor · 45% beer · 9% wine. The building at this address is owned by FORT WORTH CITY OF (802,865 sqft, $850,071,555 assessed value per county records). Applying Texas bar cost benchmarks yields an estimated annual net of approximately $2,833,111 (~28% margin). Acquisition value is estimated at $7,083k–$9,916k 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
$10,211,757
Avg monthly
$850,980
Best month
$2,125,624
Jan 2026
Sales mix
46% Liq
45% Beer · 9% Wine

Property & occupancy

County public records + submarket comps

Building (landlord parcel)

Record ID42314761
Property owner (landlord)FORT WORTH CITY OF
Total building SF802,865
Assessed value$850,071,555

Dickies Arena's share

Est. base rent ~$127/sqft/yr · 7,500 sqft · Class A $79,410/mo
NNN CAM / insurance$11,911/mo
NNN property tax$15,882/mo
Personal property tax est — no BPP record $500/mo
Total occupancy $107,703/mo

Occupancy analysis

All-in occupancy cost is 12.7% 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 $10,211,757 gross revenue estimated

Best Case
No kitchen, efficient staffing, favorable lease
~37%
Revenue$10,211,757
COGS (24%)−$2,450,822
Labor (14%)−$1,429,646
Occupancy−$1,163,195
TX MB gross tax (6.7%)−$684,188
Utilities / ins / mktg (8%)−$816,941
Card surcharge net+$112,329
Net profit $3,779,295
Most Likely
Typical bar, light food program, full two-shift staffing
~28%
Revenue$10,211,757
COGS (27%)−$2,757,174
Labor (17%)−$1,735,999
Occupancy−$1,292,439
TX MB gross tax (6.7%)−$684,188
Utilities / ins / mktg (10%)−$1,021,176
Card surcharge net+$112,329
Net profit $2,833,111
Stressed
Heavy food, larger crew, higher rent
~16%
Revenue$10,211,757
COGS (30%)−$3,063,527
Labor (22%)−$2,246,587
Occupancy−$1,421,683
TX MB gross tax (6.7%)−$684,188
Utilities / ins / mktg (12%)−$1,225,411
Card surcharge net+$112,329
Net profit $1,682,691
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 Trail Drive Hospitality LLC looking up officers…
2
Equal split (50% each)
Based on the "Most Likely" scenario net profit of $2,833,111/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 (~$2,833,111 net) estimated

Revenue multiple
$5.11M–$8.17M
0.5–0.8× gross
SDE multiple
$7.08M–$9.92M
2.5–3.5× earnings
Cap rate
$8.59M–$11.33M
25–33%
Suggested range
$7,083k–$9,916k
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