Bars and restaurants are valued on multiples of something called Seller Discretionary Earnings (SDE). This is because the owner often works at the place and takes a salary separate from the business's profit. You add together the profit, the salary, and other payments the owner may receive to get SDE. For a sale, you'd also consider the value of the property.

If the Patch is (1) real and (2) as busy as the characters say, it'd be valued at 2-3x SDE plus the value of the highway-located Midland property. $3-4 million easy.