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Financials

MB729011
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The Trojan Cork & Keg

215 MARY AVE STE 305, Waco, TX 76701 · TABC MB729011

Mixed Beverage Waco Market Enriched 2026-09-02
$552,098 Annual gross (L12M) ▼ 2.5% latest MoM Click for monthly detail
$46,008 Avg monthly ▲ 6.5% latest vs avg Click for monthly detail
~28% Est. net margin (likely) $155,112/yr est. net Click for cost model
$388k–$543k Est. acquisition range 0.84× annual gross (blended) Click for valuation methods
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Executive Summary

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The Trojan Cork & Keg is a mixed-beverage licensed establishment at 215 MARY AVE STE 305, Waco, Texas (TABC MB729011). Over the most recent 12 months it reported $552,098 in gross alcohol sales, averaging $46,008/month with a best month of $54,631. Sales mix: ~81% liquor · 19% beer · 0% wine. Applying Texas bar cost benchmarks yields an estimated annual net of approximately $155,112 (~28% margin). Acquisition value is estimated at $388k–$543k 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
$552,098
Avg monthly
$46,008
Best month
$54,631
Apr 2026
Sales mix
81% Liq
19% Beer · 0% 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)$4,831/mo
NNN CAM / insurance$725/mo
Total occupancy$5,661/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 $552,098 gross revenue estimated

Best Case
No kitchen, efficient staffing, favorable lease
~37%
Revenue$552,098
COGS (24%)−$132,504
Labor (14%)−$77,294
Occupancy−$61,142
TX MB gross tax (6.7%)−$36,991
Utilities / ins / mktg (8%)−$44,168
Card surcharge net+$6,073
Net profit $206,073
Most Likely
Typical bar, light food program, full two-shift staffing
~28%
Revenue$552,098
COGS (27%)−$149,066
Labor (17%)−$93,857
Occupancy−$67,936
TX MB gross tax (6.7%)−$36,991
Utilities / ins / mktg (10%)−$55,210
Card surcharge net+$6,073
Net profit $155,112
Stressed
Heavy food, larger crew, higher rent
~17%
Revenue$552,098
COGS (30%)−$165,629
Labor (22%)−$121,462
Occupancy−$74,729
TX MB gross tax (6.7%)−$36,991
Utilities / ins / mktg (12%)−$66,252
Card surcharge net+$6,073
Net profit $93,109
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 The Trojan Cork & Keg INC looking up officers…
1
Equal split (50% each)
Based on the "Most Likely" scenario net profit of $155,112/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 (~$155,112 net) estimated

Revenue multiple
$276k–$442k
0.5–0.8× gross
SDE multiple
$388k–$543k
2.5–3.5× earnings
Cap rate
$470k–$620k
25–33%
Suggested range
$388k–$543k
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 2026-05-22

Lookup pending — check back tomorrow

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