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

Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Eric Moreland Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Austin/Central Texas Realty Information Service.

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

 

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