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$5,500,000
20 Days Online

5001 Mcgregor Lane
Dripping Springs, TX 78620

For Sale|Single Family Home|Active
5
Beds
5
Full Baths
4
Partial Baths
10,250
SqFt
$537
/SqFt
2003
Built
Subdivision:
Vista West Ranches Unfiled
County:
Hays

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512.710.6957
5001 Mcgregor Lane5001 Mcgregor Lane5001 Mcgregor Lane5001 Mcgregor Lane
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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.

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Listing Snapshot
Price 
$5,500,000
Days Online 
20 Days
Bedrooms 
5
Inside Area (SqFt) 
10,250 sqft
Total Baths 
9
Full Baths 
5
Partial Baths 
4
Lot Size 
10 Acres
Year Built 
2003
MLS® Number 
7386493
Status 
Active
Property Tax 
$15,269
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
Public Records
Friends & Family
Recent Activity
3 weeks agoListing updated with changes from the MLS®
3 weeks agoListing first seen online
General Features
Number of Stories 
1
Construction 
Stone
Parking 
AggregateGravelGated
Parking Spaces 
90
Acreage 
10
Utilities 
Cable ConnectedElectricity ConnectedPropaneWater Available
Listing Conditions 
Standard
Direction Faces 
East
Interior Features
Appliances 
Electric OvenFree Standing Electric RangeMicrowave
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Exterior Features
View 
HillsCreek StreamTrees Woods
Fencing 
Barbed WireFencedGate
Pool 
true
Waterfront Property 
No
Waterfront Features 
Stream
Private Pool 
true
Lot 
Sprinklers In GroundSprinklers PartialTrees Large SizeWaterfall
Patio And Porch 
Rear PorchCoveredFront Porch
Other Structures 
Barn(s)Guest HouseGazeboSecond ResidenceWorkshop
Community Features
Community Features 
None
MLS Area 
HD
Schools
School District
Dripping Springs ISD
Elementary School
Walnut Springs
Middle School
Dripping Springs Middle
High School
Dripping Springs
Listing courtesy of Moreland Properties (512) 263-3282

All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings courtesy of ACTRIS as distributed by MLS GRID. The Austin Board of REALTORS®, ACTRIS and their affiliates provide the MLS and all content therein "AS IS" and without any warranty, express or implied.
Data last update - 2024-04-21 10:15 PM CDT

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Neighborhood & Commute
Source: Walkscore
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