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Financials

MB966535
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Saltgrass Steakhouse

6729 S PADRE ISLAND DR, Corpus Christi, TX 78412 · TABC MB966535

Mixed Beverage Corpus Christi Market Enriched 2026-07-10
$699,566 Annual gross (L12M) ▲ 22.7% latest MoM Click for monthly detail
$58,297 Avg monthly ▲ 13.4% latest vs avg Click for monthly detail
~28% Est. net margin (likely) $196,543/yr est. net Click for cost model
$491k–$688k 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 Steakhouse, liquor is typically only 25–40% of total business revenue. Steakhouse. Total revenue is typically 2.5–4× our liquor figure (high food average ticket). Estimated total revenue (rough): $1,748,915 – $2,798,264/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

Saltgrass Steakhouse is a mixed-beverage licensed establishment at 6729 S PADRE ISLAND DR, Corpus Christi, Texas (TABC MB966535). Over the most recent 12 months it reported $699,566 in gross alcohol sales, averaging $58,297/month with a best month of $73,235. Sales mix: ~64% liquor · 22% beer · 14% wine. Applying Texas bar cost benchmarks yields an estimated annual net of approximately $196,543 (~28% margin). Acquisition value is estimated at $491k–$688k 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
$699,566
Avg monthly
$58,297
Best month
$73,235
Dec 2025
Sales mix
64% Liq
22% Beer · 14% 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)$6,121/mo
NNN CAM / insurance$918/mo
Total occupancy$7,173/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 $699,566 gross revenue estimated

Best Case
No kitchen, efficient staffing, favorable lease
~37%
Revenue$699,566
COGS (24%)−$167,896
Labor (14%)−$97,939
Occupancy−$77,473
TX MB gross tax (6.7%)−$46,871
Utilities / ins / mktg (8%)−$55,965
Card surcharge net+$7,695
Net profit $261,117
Most Likely
Typical bar, light food program, full two-shift staffing
~28%
Revenue$699,566
COGS (27%)−$188,883
Labor (17%)−$118,926
Occupancy−$86,082
TX MB gross tax (6.7%)−$46,871
Utilities / ins / mktg (10%)−$69,957
Card surcharge net+$7,695
Net profit $196,543
Stressed
Heavy food, larger crew, higher rent
~17%
Revenue$699,566
COGS (30%)−$209,870
Labor (22%)−$153,905
Occupancy−$94,690
TX MB gross tax (6.7%)−$46,871
Utilities / ins / mktg (12%)−$83,948
Card surcharge net+$7,695
Net profit $117,978
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 Saltgrass INC looking up officers…
3
Equal split (50% each)
Based on the "Most Likely" scenario net profit of $196,543/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 (~$196,543 net) estimated

Revenue multiple
$350k–$560k
0.5–0.8× gross
SDE multiple
$491k–$688k
2.5–3.5× earnings
Cap rate
$596k–$786k
25–33%
Suggested range
$491k–$688k
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 · Steakhouse

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

We estimate this steakhouse pulls $1,748,915–$2,798,264/yr in total revenue (your liquor portion of $699,566 is roughly 25–40% 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
$1,749k–$2,798k
food + liquor + service
Estimated net (10–15%)
$175k–$420k
restaurant margin
Full-business value
$481k–$1,539k
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 2026-05-22

Lookup pending — check back tomorrow

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