$5,500,000
- Beds
- 5
- Baths
- 7.0
- sq ft
- 10,250
5001 McGregor Ln, Dripping Springs, TX 78620
5001 McGregor Ln
Dripping Springs, TX 78620
- 187 days on market
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.
Details
Property type
Lot size
10.0 acres
Price per sq ft
$537
Year built
2003
Annual property taxes
$15,269.02
Price History
04/01/2024
Austin #7386493
Listed
$5,500,000
Schools & Community
Elementary school:
Walnut Springs
Middle school:
Dripping Springs Middle
High school:
Dripping Springs
Community features: None
Community features:
None
High school district:
Dripping Springs ISD
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Price drop
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3 bd
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1,773 sq ft|
House26203 Hamilton Pool Rd, Round Mountain, TX 78663
Status: Active
Tomo last checked: 10/05/2024 at 8:00 PM
Listing updated: 08/21/2024 at 10:34 AM
Listed by: Ben Morton, Moreland Properties Phone #: (512) 263-3282
MLS: Austin #7386493
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