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MB699754
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Mccormick & Schmick's Seafood Restaurant

1201 FANNIN ST, Houston, TX 77002 · TABC MB699754

Mixed Beverage Houston Market Enriched 2026-07-11
$685,126 Annual gross (L12M) ▼ 31.5% latest MoM Click for monthly detail
$57,094 Avg monthly ▼ 28.3% latest vs avg Click for monthly detail
~22% Est. net margin (likely) $153,468/yr est. net Click for cost model
$384k–$537k Est. acquisition range 0.67× 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): $1,522,502 – $2,740,504/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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Mccormick & Schmick's Seafood Restaurant is a mixed-beverage licensed establishment at 1201 FANNIN ST, Houston, Texas (TABC MB699754). Over the most recent 12 months it reported $685,126 in gross alcohol sales, averaging $57,094/month with a best month of $87,370. Sales mix: ~56% liquor · 10% beer · 33% wine. The building at this address is owned by BIII GSTREET LLC (280,439 sqft, $115,938,290 assessed value per county records). Applying Texas bar cost benchmarks yields an estimated annual net of approximately $153,468 (~22% margin). Acquisition value is estimated at $384k–$537k 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
$685,126
Avg monthly
$57,094
Best month
$87,370
Feb 2026
Sales mix
56% Liq
10% Beer · 33% Wine

Property & occupancy

County public records + submarket comps

Building (landlord parcel)

Record ID0012610000009
Property owner (landlord)BIII GSTREET LLC
Total building SF280,439
Assessed value$115,938,290

Mccormick & Schmick's Seafood Restaurant's share

Est. base rent ~$22/sqft/yr · 3,500 sqft · Class A $6,301/mo
NNN CAM / insurance$945/mo
NNN property tax$2,894/mo
Personal property tax est — no BPP record $137/mo
Total occupancy $10,277/mo

Occupancy analysis

All-in occupancy cost is 18.0% 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 $685,126 gross revenue estimated

Best Case
No kitchen, efficient staffing, favorable lease
~32%
Revenue$685,126
COGS (24%)−$164,430
Labor (14%)−$95,918
Occupancy−$110,990
TX MB gross tax (6.7%)−$45,903
Utilities / ins / mktg (8%)−$54,810
Card surcharge net+$7,536
Net profit $220,611
Most Likely
Typical bar, light food program, full two-shift staffing
~22%
Revenue$685,126
COGS (27%)−$184,984
Labor (17%)−$116,471
Occupancy−$123,323
TX MB gross tax (6.7%)−$45,903
Utilities / ins / mktg (10%)−$68,513
Card surcharge net+$7,536
Net profit $153,468
Stressed
Heavy food, larger crew, higher rent
~11%
Revenue$685,126
COGS (30%)−$205,538
Labor (22%)−$150,728
Occupancy−$135,655
TX MB gross tax (6.7%)−$45,903
Utilities / ins / mktg (12%)−$82,215
Card surcharge net+$7,536
Net profit $72,623
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 Mccormick & Schmick Texas INC looking up officers…
3
Equal split (50% each)
Based on the "Most Likely" scenario net profit of $153,468/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 (~$153,468 net) estimated

Revenue multiple
$343k–$548k
0.5–0.8× gross
SDE multiple
$384k–$537k
2.5–3.5× earnings
Cap rate
$465k–$614k
25–33%
Suggested range
$384k–$537k
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 $1,522,502–$2,740,504/yr in total revenue (your liquor portion of $685,126 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
$1,523k–$2,741k
food + liquor + service
Estimated net (10–15%)
$152k–$411k
restaurant margin
Full-business value
$419k–$1,507k
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 2026-06-10

Lookup pending — check back tomorrow

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