Active
5001 McGregor LN
Dripping Springs TX, 78620
$5,500,000
$536.59 per sqft
Active
5 Beds
9 Baths
10,250 sqft
Residential
Built in 2003
Allegro Wedding and Events is a recently launched and operating venue with new business branding, located in Dripping Springs, the Texas Hill Country area known as "The Wedding Capital of Texas". Allegro combines Hill Country beauty with Austin chic, just 37 minutes from downtown. The venue sits on 10 acres of unrestricted ridge-top land with 5-mile views to the west overlooking open ranches and the Texas Hill Country. The property consists of over 10,250 SF of indoor improvements, manicured grounds and exterior entertainment areas under live oaks. The current property owners have recently renovated with upscale Hill Country chic decor and elegant touches throughout. 5 newly decorated and furnished guest cottages have been added to the grounds offering overnight accommodations for up to 17 guests for all seasons. Estimated net operating income is approximately $400,000 for the year 2023 based on the current confirmed wedding and cottage bookings. There is potential to increase revenue by booking weddings on Sundays and weekdays, and offering
mini-weddings and corporate and private parties and other events. The venue is positioned at the high-end of the market, and only one of a couple of venues offering a one-stop wedding experience, with a story-book chapel and a variety of airconditioned indoor, and scenic outdoor entertainment and celebration spaces. In addition to the real estate, the business, Allegro name and current bookings will transfer with the sale. The current manager played a key role in building the business and event bookings to support the pro-forma NOI.
7386493
MLSⓇ ID
April 1, 2024
Listed
May 10, 2024
Updated
Map
5001 McGregor LN
Dripping Springs TX, 78620
Interior Features
Total Stories
1
Bedrooms
5
Total Bathrooms
9
Full Bathrooms
5
Half Bathrooms
4
Appliances
Microwave, Electric Oven, Free-Standing Electric Range
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
10 Acres
Lot Features
Sprinkler - In-ground, Sprinkler - Partial, Trees-Large (Over 40 Ft), Waterfall
School Information
School District
Dripping Springs ISD
High School
Dripping Springs
Elementary School
Walnut Springs
Other Property Details
Area Name
HD
Taxes
$15,269
Tax Frequency
Annually
Garage
No
Parking
Aggregate, Gated, Gravel
View
Yes
View Description
Creek/Stream, Hill Country, Trees/Woods
County
Hays
Pool
Yes
Buyer Agency Compensation
2.5%
Courtesy of Moreland Properties
Listing Contact: (512) 263-3282
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Listings courtesy of ACTRIS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of ©2024 (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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Database last updated 7:57 PM UTC, 5/10/2024