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Financials

MB247926
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Landry's Seafood & Steakhouse

600 N SHORELINE PEOP ST T HEAD SLIP 40 N, Corpus Christi, TX 78401 · TABC MB247926

Mixed Beverage Corpus Christi Market Enriched 2026-07-10
$580,209 Annual gross (L12M) ▲ 22.8% latest MoM Click for monthly detail
$48,351 Avg monthly ▲ 23.6% latest vs avg Click for monthly detail
~28% Est. net margin (likely) $163,010/yr est. net Click for cost model
$408k–$571k 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 Restaurant / Bar, liquor is typically only 25–45% of total business revenue. Restaurant. Total revenue is typically 2–4× our liquor figure. Estimated total revenue (rough): $1,289,353 – $2,320,836/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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Landry's Seafood & Steakhouse is a mixed-beverage licensed establishment at 600 N SHORELINE PEOP ST T HEAD SLIP 40 N, Corpus Christi, Texas (TABC MB247926). Over the most recent 12 months it reported $580,209 in gross alcohol sales, averaging $48,351/month with a best month of $59,780. Sales mix: ~58% liquor · 18% beer · 24% wine. Applying Texas bar cost benchmarks yields an estimated annual net of approximately $163,010 (~28% margin). Acquisition value is estimated at $408k–$571k 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
$580,209
Avg monthly
$48,351
Best month
$59,780
May 2026
Sales mix
58% Liq
18% Beer · 24% 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)$5,077/mo
NNN CAM / insurance$762/mo
Total occupancy$5,950/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 $580,209 gross revenue estimated

Best Case
No kitchen, efficient staffing, favorable lease
~37%
Revenue$580,209
COGS (24%)−$139,250
Labor (14%)−$81,229
Occupancy−$64,255
TX MB gross tax (6.7%)−$38,874
Utilities / ins / mktg (8%)−$46,417
Card surcharge net+$6,382
Net profit $216,566
Most Likely
Typical bar, light food program, full two-shift staffing
~28%
Revenue$580,209
COGS (27%)−$156,656
Labor (17%)−$98,636
Occupancy−$71,395
TX MB gross tax (6.7%)−$38,874
Utilities / ins / mktg (10%)−$58,021
Card surcharge net+$6,382
Net profit $163,010
Stressed
Heavy food, larger crew, higher rent
~17%
Revenue$580,209
COGS (30%)−$174,063
Labor (22%)−$127,646
Occupancy−$78,534
TX MB gross tax (6.7%)−$38,874
Utilities / ins / mktg (12%)−$69,625
Card surcharge net+$6,382
Net profit $97,849
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 Landry's Seafood & Steak House -Corpus Christi INC looking up officers…
3
Equal split (50% each)
Based on the "Most Likely" scenario net profit of $163,010/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 (~$163,010 net) estimated

Revenue multiple
$290k–$464k
0.5–0.8× gross
SDE multiple
$408k–$571k
2.5–3.5× earnings
Cap rate
$494k–$652k
25–33%
Suggested range
$408k–$571k
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 · Restaurant / Bar

If you're buying the whole restaurant, not just the bar program

We estimate this restaurant / bar pulls $1,289,353–$2,320,836/yr in total revenue (your liquor portion of $580,209 is roughly 25–45% 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
$1,289k–$2,321k
food + liquor + service
Estimated net (10–15%)
$129k–$348k
restaurant margin
Full-business value
$355k–$1,276k
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 2026-07-10

Lookup pending — check back tomorrow

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