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Financials

MB400987
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Pappasitos Cantina

2704 WEST FWY, Fort Worth, TX 76102 · TABC MB400987

Mixed Beverage Fort Worth Market Enriched 2026-05-24
$2,047,982 Annual gross (L12M) ▼ 4.6% latest MoM Click for monthly detail
$170,665 Avg monthly ▼ 2.5% latest vs avg Click for monthly detail
~37% Est. net margin (likely) $758,465/yr est. net Click for cost model
$1,896k–$2,048k Est. acquisition range 0.96× 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 Cocktail Bar, liquor is typically only 85–95% of total business revenue. Spirits-led; low food. Estimated total revenue (rough): $2,155,771 – $2,409,391/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

Pappasitos Cantina is a mixed-beverage licensed establishment at 2704 WEST FWY, Fort Worth, Texas (TABC MB400987). Over the most recent 12 months it reported $2,047,982 in gross alcohol sales, averaging $170,665/month with a best month of $197,422. Sales mix: ~83% liquor · 16% beer · 1% wine. The building at this address is owned by PAPPAS RESTAURANTS INC $382,690 assessed value per county records). Applying Texas bar cost benchmarks yields an estimated annual net of approximately $758,465 (~37% margin). Acquisition value is estimated at $1,896k–$2,048k 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
$2,047,982
Avg monthly
$170,665
Best month
$197,422
Dec 2025
Sales mix
83% Liq
16% Beer · 1% Wine

Property & occupancy

County public records + submarket comps

Building (landlord parcel)

Record ID10698477
Property owner (landlord)PAPPAS RESTAURANTS INC
Assessed value$382,690

Pappasitos Cantina's share

Est. base rent ~$7/sqft/yr · 7,500 sqft · Class C $4,305/mo
NNN CAM / insurance$646/mo
NNN property tax$383/mo
Personal property tax est — no BPP record $410/mo
Total occupancy $5,743/mo

Occupancy analysis

All-in occupancy cost is 3.4% 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 $2,047,982 gross revenue estimated

Best Case
No kitchen, efficient staffing, favorable lease
~45%
Revenue$2,047,982
COGS (24%)−$491,516
Labor (14%)−$286,717
Occupancy−$62,028
TX MB gross tax (6.7%)−$137,215
Utilities / ins / mktg (8%)−$163,839
Card surcharge net+$22,528
Net profit $929,195
Most Likely
Typical bar, light food program, full two-shift staffing
~37%
Revenue$2,047,982
COGS (27%)−$552,955
Labor (17%)−$348,157
Occupancy−$68,920
TX MB gross tax (6.7%)−$137,215
Utilities / ins / mktg (10%)−$204,798
Card surcharge net+$22,528
Net profit $758,465
Stressed
Heavy food, larger crew, higher rent
~27%
Revenue$2,047,982
COGS (30%)−$614,395
Labor (22%)−$450,556
Occupancy−$75,812
TX MB gross tax (6.7%)−$137,215
Utilities / ins / mktg (12%)−$245,758
Card surcharge net+$22,528
Net profit $546,774
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 Pappas Restaurants INC looking up officers…
2
Equal split (50% each)
Based on the "Most Likely" scenario net profit of $758,465/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 (~$758,465 net) estimated

Revenue multiple
$1.02M–$1.64M
0.5–0.8× gross
SDE multiple
$1.90M–$2.65M
2.5–3.5× earnings
Cap rate
$2.30M–$3.03M
25–33%
Suggested range
$1,896k–$2,048k
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

20 cases on file · 1 currently open · public records

20 federal cases
1 currently open
2 wage-and-hour
2 ADA
6 civil rights
As defendant in 14 cases · As plaintiff in 6
Most recent filing
Dukes v. Pappas Restaurants, Inc.
GAND · 2024-12-19 · CLOSED
Public records, last checked 2026-05-22