I haven't been there since 2004. But back then, it was really good. I used to live right across the street from it and ate there sometimes on Saturday afternoons. They always had drink specials and food specials then. But from other peoples reviews in the last 2-3 years, sounds like they went down hill since 2004. I don't know.
BEST MEXICAN RESTAURANT CHAIN WE'RE GLAD IS A CHAIN Phoenix 2007 - 3 Margaritas
Although we received excellent food and service each time we went to the Tempe Three Margagitas restaurant, the franchise seems to have suffered a business failure. It closed with a "see you soon" sign 5/2010, has not reopened, is being vandalized and has been closed again by the city tax authority for lack of paying restaurant taxes, and for having an unsuitable environment. This makes us sad, as it is about 200 feet from our apartment, and was our "date night" outing of choice.