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Financials

MB793256
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White Horse

500 COMAL ST, Austin, TX 78702 · TABC MB793256

Mixed Beverage Austin Market Enriched 2026-05-24
$2,554,942 Annual gross (L12M) ▼ 7.4% latest MoM Click for monthly detail
$212,912 Avg monthly ▲ 21.1% latest vs avg Click for monthly detail
~22% Est. net margin (likely) $572,307/yr est. net Click for cost model
$1,431k–$2,003k 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 Honky-Tonk, liquor is typically only 80–95% of total business revenue. Beer + cover charges; food minor. Estimated total revenue (rough): $2,689,413 – $3,193,678/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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White Horse is a mixed-beverage licensed establishment at 500 COMAL ST, Austin, Texas (TABC MB793256). Over the most recent 12 months it reported $2,554,942 in gross alcohol sales, averaging $212,912/month with a best month of $278,504. Sales mix: ~53% liquor · 46% beer · 0% wine. The building at this address is owned by CARLIN JOSEPH LIFE ESTATE & (2,500 sqft, $2,402,548 assessed value per county records). Applying Texas bar cost benchmarks yields an estimated annual net of approximately $572,307 (~22% margin). Acquisition value is estimated at $1,431k–$2,003k 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
$2,554,942
Avg monthly
$212,912
Best month
$278,504
Mar 2026
Sales mix
53% Liq
46% Beer · 0% Wine

Property & occupancy

County public records + submarket comps

Building (landlord parcel)

Record ID191941
Property owner (landlord)CARLIN JOSEPH LIFE ESTATE &
Total building SF2,500
Assessed value$2,402,548

White Horse's share

Est. base rent ~$50/sqft/yr · 7,500 sqft · Class A $31,222/mo
NNN CAM / insurance$4,683/mo
NNN property tax$2,002/mo
Personal property tax est — no BPP record $417/mo
Total occupancy $38,324/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 $2,554,942 gross revenue estimated

Best Case
No kitchen, efficient staffing, favorable lease
~32%
Revenue$2,554,942
COGS (24%)−$613,186
Labor (14%)−$357,692
Occupancy−$413,901
TX MB gross tax (6.7%)−$171,181
Utilities / ins / mktg (8%)−$204,395
Card surcharge net+$28,104
Net profit $822,691
Most Likely
Typical bar, light food program, full two-shift staffing
~22%
Revenue$2,554,942
COGS (27%)−$689,834
Labor (17%)−$434,340
Occupancy−$459,890
TX MB gross tax (6.7%)−$171,181
Utilities / ins / mktg (10%)−$255,494
Card surcharge net+$28,104
Net profit $572,307
Stressed
Heavy food, larger crew, higher rent
~11%
Revenue$2,554,942
COGS (30%)−$766,483
Labor (22%)−$562,087
Occupancy−$505,879
TX MB gross tax (6.7%)−$171,181
Utilities / ins / mktg (12%)−$306,593
Card surcharge net+$28,104
Net profit $270,824
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 Whte Horse Honky Tonk LLC looking up officers…
2
Equal split (50% each)
Based on the "Most Likely" scenario net profit of $572,307/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 (~$572,307 net) estimated

Revenue multiple
$1.28M–$2.04M
0.5–0.8× gross
SDE multiple
$1.43M–$2.00M
2.5–3.5× earnings
Cap rate
$1.73M–$2.29M
25–33%
Suggested range
$1,431k–$2,003k
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 2026-05-28

Lookup pending — check back tomorrow

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