About 5001 Mcgregor Lane
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.
Features of 5001 Mcgregor Lane
| MLS® # | 7386493 |
|---|---|
| Price | $5,500,000 |
| Bedrooms | 5 |
| Bathrooms | 9.00 |
| Full Baths | 5 |
| Half Baths | 4 |
| Square Footage | 10,250 |
| Acres | 10.00 |
| Year Built | 2003 |
| Type | Residential |
| Sub-Type | Other |
| Status | Active |
Community Information
| Address | 5001 Mcgregor Lane |
|---|---|
| Area | HD |
| Subdivision | Vista West Ranches Unfiled |
| City | Dripping Springs |
| County | Hays |
| State | TX |
| Zip Code | 78620 |
Amenities
| Utilities | Cable Connected, Electricity Connected, Propane, Water Available |
|---|---|
| Features | None |
| Parking | Gravel, Gated, Aggregate |
| View | Hills, Trees/Woods, Creek/Stream |
| Is Waterfront | No |
| Waterfront | Stream |
| Has Pool | Yes |
Interior
| Appliances | Electric Oven, Free-Standing Electric Range, Microwave |
|---|---|
| Fireplace | No |
| # of Stories | 1 |
| Stories | One |
Exterior
| Lot Description | Sprinklers In Ground, Sprinklers Partial, Trees Large Size, Waterfall |
|---|---|
| Construction | HardiPlank Type, Masonry, Stone |
School Information
| District | Dripping Springs ISD |
|---|---|
| Elementary | Walnut Springs |
| Middle | Dripping Springs Middle |
| High | Dripping Springs |
Additional Information
| Date Listed | April 1st, 2024 |
|---|---|
| Days on Market | 28 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office Contact | (512) 263-3282 |
|---|