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MB1117674
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The Carpenter Hotel

400 JOSEPHINE ST, Austin, TX 78704 · TABC MB1117674

Mixed Beverage Austin Market Enriched 2026-06-19
$844,804 Annual gross (L12M) ▲ 12.5% latest MoM Click for monthly detail
$70,400 Avg monthly ▲ 28.7% latest vs avg Click for monthly detail
~22% Est. net margin (likely) $189,236/yr est. net Click for cost model
$473k–$662k 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 Hotel Bar, liquor is typically only 70–90% of total business revenue. Mostly liquor program. Estimated total revenue (rough): $938,671 – $1,206,863/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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The Carpenter Hotel is a mixed-beverage licensed establishment at 400 JOSEPHINE ST, Austin, Texas (TABC MB1117674). Over the most recent 12 months it reported $844,804 in gross alcohol sales, averaging $70,400/month with a best month of $90,586. Sales mix: ~59% liquor · 15% beer · 25% wine. The building at this address is owned by CARP 2020 HOLDINGS LLC (59,500 sqft, $21,400,000 assessed value per county records). Applying Texas bar cost benchmarks yields an estimated annual net of approximately $189,236 (~22% margin). Acquisition value is estimated at $473k–$662k 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
$844,804
Avg monthly
$70,400
Best month
$90,586
Apr 2026
Sales mix
59% Liq
15% Beer · 25% Wine

Property & occupancy

County public records + submarket comps

Building (landlord parcel)

Record ID104380
Property owner (landlord)CARP 2020 HOLDINGS LLC
Total building SF59,500
Assessed value$21,400,000

The Carpenter Hotel's share

Est. base rent ~$31/sqft/yr · 3,500 sqft · Class A $9,072/mo
NNN CAM / insurance$1,361/mo
NNN property tax$2,098/mo
Personal property tax est — no BPP record $141/mo
Total occupancy $12,672/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 $844,804 gross revenue estimated

Best Case
No kitchen, efficient staffing, favorable lease
~32%
Revenue$844,804
COGS (24%)−$202,753
Labor (14%)−$118,273
Occupancy−$136,858
TX MB gross tax (6.7%)−$56,602
Utilities / ins / mktg (8%)−$67,584
Card surcharge net+$9,293
Net profit $272,027
Most Likely
Typical bar, light food program, full two-shift staffing
~22%
Revenue$844,804
COGS (27%)−$228,097
Labor (17%)−$143,617
Occupancy−$152,065
TX MB gross tax (6.7%)−$56,602
Utilities / ins / mktg (10%)−$84,480
Card surcharge net+$9,293
Net profit $189,236
Stressed
Heavy food, larger crew, higher rent
~11%
Revenue$844,804
COGS (30%)−$253,441
Labor (22%)−$185,857
Occupancy−$167,271
TX MB gross tax (6.7%)−$56,602
Utilities / ins / mktg (12%)−$101,376
Card surcharge net+$9,293
Net profit $89,549
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 Hotel Carp Beverages LLC looking up officers…
1
Equal split (50% each)
Based on the "Most Likely" scenario net profit of $189,236/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 (~$189,236 net) estimated

Revenue multiple
$422k–$676k
0.5–0.8× gross
SDE multiple
$473k–$662k
2.5–3.5× earnings
Cap rate
$573k–$757k
25–33%
Suggested range
$473k–$662k
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 2026-06-30

No federal lawsuits — past or pending