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5001 McGregor LN
Dripping Springs, TX 78620
For Sale $5,500,000
Listed 48 days ago for $5,500,000- Status: Active
- County: Hays
- School District: Dripping Springs ISD
- Subdivision: Vista West Ranches Unfiled
- Beds: 5
- Bathrooms: 5
- Half Bathrooms: 4
- SqFt: 10,250
- $/SqFt: 536.59
- Lot Size: 10 acres
- Levels: One
- Built: 2003
- Est. Taxes: $15269.02
- Association/HOA : No
- Waterfront: No
- Private Pool:Yes
- Heating: None
- Cooling: None
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.
- Construction Materials
- HardiPlank Type, Masonry – Partial, Stone
- Green Energy Efficiency
- None
- Pool
- Lot Features
- Sprinkler - In-ground , Sprinkler - Partial, Trees-Large (Over 40 Ft), Waterfall
- Patio and Porch Features
- Covered, Front Porch, Rear Porch
- Waterfront Features
- Stream
- Appliances
- Microwave, Electric Oven, Free-Standing Electric Range
- Parking
- Parking Spaces 90
- Garage Spaces None
- Parking Features Aggregate, Gated, Gravel
- Community Features
- None
- Listing ID
- 7386493
- Sub Agency Compensation
- 0.000%
- Buyer Agency Compensation
- 2.5%
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
Location
Schools
Elementary
Walnut Springs
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Middle School
Dripping Springs Middle
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High School
Dripping Springs
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