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MB829036
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Seaworld San Antonio

10500 SEA WORLD DR, San Antonio, TX 78251 · TABC MB829036

Mixed Beverage San Antonio Market Enriched 2026-05-24
$4,048,338 Annual gross (L12M) ▼ 49.9% latest MoM Click for monthly detail
$337,362 Avg monthly ▼ 43.1% latest vs avg Click for monthly detail
~22% Est. net margin (likely) $904,628/yr est. net Click for cost model
$2,262k–$3,166k 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 Stadium / Arena, liquor is typically only 50–75% of total business revenue. Concessions liquor + food. Estimated total revenue (rough): $5,397,784 – $8,096,676/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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Seaworld San Antonio is a mixed-beverage licensed establishment at 10500 SEA WORLD DR, San Antonio, Texas (TABC MB829036). Over the most recent 12 months it reported $4,048,338 in gross alcohol sales, averaging $337,362/month with a best month of $814,053. Sales mix: ~37% liquor · 63% beer · 0% wine. The building at this address is owned by SEA WORLD OF TEXAS LLC (216 sqft, $41,268,388 assessed value per county records). Applying Texas bar cost benchmarks yields an estimated annual net of approximately $904,628 (~22% margin). Acquisition value is estimated at $2,262k–$3,166k 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
$4,048,338
Avg monthly
$337,362
Best month
$814,053
Jul 2025
Sales mix
37% Liq
63% Beer · 0% Wine

Property & occupancy

County public records + submarket comps

Building (landlord parcel)

Record ID667483
Property owner (landlord)SEA WORLD OF TEXAS LLC
Total building SF216
Assessed value$41,268,388

Seaworld San Antonio's share

Est. base rent ~$29/sqft/yr · 7,500 sqft · Class A $17,997/mo
NNN CAM / insurance$2,700/mo
NNN property tax$39,549/mo
Personal property tax est — no BPP record $479/mo
Total occupancy $60,725/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 $4,048,338 gross revenue estimated

Best Case
No kitchen, efficient staffing, favorable lease
~32%
Revenue$4,048,338
COGS (24%)−$971,601
Labor (14%)−$566,767
Occupancy−$655,831
TX MB gross tax (6.7%)−$271,239
Utilities / ins / mktg (8%)−$323,867
Music licensingASCAP + BMI + SESAC + GMR combined−$2,200
Card surcharge net+$44,532
Net profit $1,301,365
Most Likely
Typical bar, light food program, full two-shift staffing
~22%
Revenue$4,048,338
COGS (27%)−$1,093,051
Labor (17%)−$688,217
Occupancy−$728,701
TX MB gross tax (6.7%)−$271,239
Utilities / ins / mktg (10%)−$404,834
Music licensingASCAP + BMI + SESAC + GMR combined−$2,200
Card surcharge net+$44,532
Net profit $904,628
Stressed
Heavy food, larger crew, higher rent
~11%
Revenue$4,048,338
COGS (30%)−$1,214,501
Labor (22%)−$890,634
Occupancy−$801,571
TX MB gross tax (6.7%)−$271,239
Utilities / ins / mktg (12%)−$485,801
Music licensingASCAP + BMI + SESAC + GMR combined−$2,200
Card surcharge net+$44,532
Net profit $426,924
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 Seaworld Of Texas Beverage LLC looking up officers…
3
Equal split (50% each)
Based on the "Most Likely" scenario net profit of $904,628/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 (~$904,628 net) estimated

Revenue multiple
$2.02M–$3.24M
0.5–0.8× gross
SDE multiple
$2.26M–$3.17M
2.5–3.5× earnings
Cap rate
$2.74M–$3.62M
25–33%
Suggested range
$2,262k–$3,166k
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 2026-05-26

Lookup pending — check back tomorrow

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