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Financials

MB650164
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Truluck's Seafood Steak And Crab House

1420 PLAZA PL, Southlake, TX 76092 · TABC MB650164

Mixed Beverage Southlake Market Enriched 2026-05-24
$2,025,863 Annual gross (L12M) ▲ 2.0% latest MoM Click for monthly detail
$168,822 Avg monthly ▼ 8.9% latest vs avg Click for monthly detail
~19% Est. net margin (likely) $385,537/yr est. net Click for cost model
$1,013k–$1,349k Est. acquisition range 0.58× 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 Restaurant / Bar, liquor is typically only 25–45% of total business revenue. Restaurant. Total revenue is typically 2–4× our liquor figure. Estimated total revenue (rough): $4,501,918 – $8,103,452/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

Truluck's Seafood Steak And Crab House is a mixed-beverage licensed establishment at 1420 PLAZA PL, Southlake, Texas (TABC MB650164). Over the most recent 12 months it reported $2,025,863 in gross alcohol sales, averaging $168,822/month with a best month of $222,885. Sales mix: ~47% liquor · 2% beer · 51% wine. The building at this address is owned by KRG GRAND AVENUE II LLC (8,184 sqft, $3,091,360 assessed value per county records). Applying Texas bar cost benchmarks yields an estimated annual net of approximately $385,537 (~19% margin). Acquisition value is estimated at $1,013k–$1,349k 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
$2,025,863
Avg monthly
$168,822
Best month
$222,885
Feb 2026
Sales mix
47% Liq
2% Beer · 51% Wine

Property & occupancy

County public records + submarket comps

Building (landlord parcel)

Record ID41042344
Property owner (landlord)KRG GRAND AVENUE II LLC
Total building SF8,184
Assessed value$3,091,360

Truluck's Seafood Steak And Crab House's share

Est. base rent ~$45/sqft/yr · 7,500 sqft · Class A $28,330/mo
NNN CAM / insurance$4,249/mo
NNN property tax$3,091/mo
Personal property tax est — no BPP record $405/mo
Total occupancy $36,076/mo

Occupancy analysis

All-in occupancy cost is 21.4% 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 $2,025,863 gross revenue estimated

Best Case
No kitchen, efficient staffing, favorable lease
~29%
Revenue$2,025,863
COGS (24%)−$486,207
Labor (14%)−$283,621
Occupancy−$389,620
TX MB gross tax (6.7%)−$135,733
Utilities / ins / mktg (8%)−$162,069
Card surcharge net+$22,284
Net profit $590,898
Most Likely
Typical bar, light food program, full two-shift staffing
~19%
Revenue$2,025,863
COGS (27%)−$546,983
Labor (17%)−$344,397
Occupancy−$432,911
TX MB gross tax (6.7%)−$135,733
Utilities / ins / mktg (10%)−$202,586
Card surcharge net+$22,284
Net profit $385,537
Stressed
Heavy food, larger crew, higher rent
~7%
Revenue$2,025,863
COGS (30%)−$607,759
Labor (22%)−$445,690
Occupancy−$476,202
TX MB gross tax (6.7%)−$135,733
Utilities / ins / mktg (12%)−$243,104
Card surcharge net+$22,284
Net profit $139,660
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 1420 Plaza Place Partners L.L.C looking up officers…
2
Equal split (50% each)
Based on the "Most Likely" scenario net profit of $385,537/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 (~$385,537 net) estimated

Revenue multiple
$1.01M–$1.62M
0.5–0.8× gross
SDE multiple
$964k–$1.35M
2.5–3.5× earnings
Cap rate
$1.17M–$1.54M
25–33%
Suggested range
$1,013k–$1,349k
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 · Restaurant / Bar

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

We estimate this restaurant / bar pulls $4,501,918–$8,103,452/yr in total revenue (your liquor portion of $2,025,863 is roughly 25–45% 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
$4,502k–$8,103k
food + liquor + service
Estimated net (10–15%)
$450k–$1,216k
restaurant margin
Full-business value
$1,238k–$4,457k
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 2026-06-02

Lookup pending — check back tomorrow

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