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.
Property Details
Property Features
Property Information:
Year Built: 2003
Stories: 1
Living Area: 10,250 SqFt
Listing Office:
Office Name: Moreland Properties
Office Phone: (512) 263-3282
Listing Agent: Ben Morton
Interior Features
Interior Information:
Appliances: Electric Oven, Electric Range, Microwave
Bedroom and Bathroom Information:
Partial Bathrooms: 4
Full Bathrooms: 5
Total Bedroom Count: 5
Exterior Features
Exterior Information:
Private Pool: Yes
Waterfront: Stream
View: Hills, Creek/Stream, Trees/Woods
Parking Information:
Parking: Aggregate, Gravel, Gated
Lot Features
Lot Information:
Lot: Sprinklers, Waterfall
Lot Size: 10.00 Acres
School Info
Assigned Schools Information:
Dripping Springs High School, Public District Grades 9-12
Dripping Springs Middle School, Public District Grades 6-8
Walnut Springs Elementary School, Public District Grades PK-5
Other
Directions Information:
Directions: 290 West to McGregor Go north on Mcgregor, past Fitzhugh, on left
Price Information
Listing Price Info
Price Summary:
List Price: $5,500,000
Price Per SqFt: $537/SqFt
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Housing Market Comparison
See how this home compares to others in Dripping Springs, TX.
This property is $4.7M more than the Median Sold Price and $264/SqFt more than other homes in Dripping Springs, TX.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: ACTRIS
MLS Number: #7386493
Listing Office:
Office Name: Moreland Properties
Office Phone: (512) 263-3282
Listing Agent: Ben Morton
Based on information from the Austin Board of REALTORS® (alternatively, from ACTRIS or Unlock MLS®). All information provided is deemed reliable but is not guaranteed and should be independently verified. The Austin Board of REALTORS®, ACTRIS, Unlock MLS and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data maintained by the Board, ACTRIS or Unlock MLS may not reflect all real estate activity in the market. Prices displayed on all Sold listings are the Last Known Listing Price and may not be the actual selling price.
Copyright 2024 Unlock MLS and Austin Central Texas Realty Information Services, Inc.
Listings courtesy of Unlock MLS as distributed by MLS GRID.
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.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 5/1/2024, 9:25:15 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
We're sorry, we currently don't have sales or tax history data for this listing.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
6
/10
Walnut Springs Elementary School
300 Sportsplex Dr
Distance between this listing and this school6.35 miles
Public District Grades PK-5
Middle School
6
/10
Dripping Springs Middle School
111 Tiger Ln
Distance between this listing and this school5.32 miles
Public District Grades 6-8
High School
7
/10
Dripping Springs High School
940 W Highway 290
Distance between this listing and this school5.95 miles
Public District Grades 9-12
Assigned Schools
6
/10
Walnut Springs Elementary School
300 Sportsplex Dr
Distance between this listing and this school6.35 miles
Public District Grades PK-5
Nearby Schools
7
/10
Dripping Springs Elementary School
29400 Ranch Road 12
Distance between this listing and this school5.75 miles
Public District Grades PK-5
8
/10
Serene Hills Elementary School
3301 Serene Hills Dr
Distance between this listing and this school10.83 miles
Public District Grades PK-5
Assigned Schools
6
/10
Dripping Springs Middle School
111 Tiger Ln
Distance between this listing and this school5.32 miles
Public District Grades 6-8
Nearby Schools
6
/10
Lake Travis Middle School
3328 Ranch Road 620 S
Distance between this listing and this school11.92 miles
Public District Grades 6-8
8
/10
Lyndon B. Johnson Middle School
303 North Lbj Dr
Distance between this listing and this school15.15 miles
Public District Grades 5-8
Assigned Schools
7
/10
Dripping Springs High School
940 W Highway 290
Distance between this listing and this school5.95 miles
Public District Grades 9-12
Nearby Schools
7
/10
Lake Travis High School
3324 Ranch Road 620 S
Distance between this listing and this school11.73 miles
Public District Grades 9-12
5
/10
Lyndon B. Johnson High School
505 North Nugent
Distance between this listing and this school15.37 miles
The neighbors living near this home have an average income of $75,410. The majority of Dripping Springs, TX residents have income between $35k-100k annually. Residents typically live in married, no kids family. Typical level of education for residents in this area is post secondary degree.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 5001 Mcgregor Ln
What is the listing price of this property?
The listing price of 5001 Mcgregor Ln property is $5,500,000.
What type of property is this?
The property 5001 Mcgregor Ln is a house located in Dripping Springs, Texas, 78620.
Is this property for sale now?
Active Listing: 5001 Mcgregor Ln is For Sale (Active/New) which means the seller is accepting offers.
What are the assigned schools for this property?
The assigned schools for 5001 Mcgregor Ln are: Walnut Springs Elementary School: GreatSchools Rating 6/10Dripping Springs Middle School: GreatSchools Rating 6/10Dripping Springs High School: GreatSchools Rating 7/10
How many bedrooms and bathrooms does this property have?
The property at 5001 Mcgregor Ln has 5 bedrooms and 5 full and 4 half bathrooms.
What is the square footage of this property?
The property 5001 Mcgregor Ln is 10,250 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 5001 Mcgregor Ln is 2003.
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This home is located at 5001 Mcgregor Ln in Dripping Springs, TX and zip code 78620. This 10,250 square foot home, which was built in 2003, sits on a 10.00 acre lot. Features: 5 bedrooms, 9 bathrooms. It has been listed on Rocket Homes since April 01, 2024 and is currently priced at $5,500,000.
In March 2024, from all listings sold in Dripping Springs, TX there were more than 4 sold above asking price, over 29 sold below and more than 5 were sold right at the asked price. The number of homes for sale in Dripping Springs, TX increased by 22.4% between February 2024 and March 2024. The median list price of listings available in March 2024 was $720,933, while the average time on the real estate market was 68 days.
From Rocket Homes Real Estate and based on county public records data.
Based on information from the Austin Board of REALTORS® (alternatively, from ACTRIS or Unlock MLS®). All information provided is deemed reliable but is not guaranteed and should be independently verified. The Austin Board of REALTORS®, ACTRIS, Unlock MLS and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data maintained by the Board, ACTRIS or Unlock MLS may not reflect all real estate activity in the market. Prices displayed on all Sold listings are the Last Known Listing Price and may not be the actual selling price. 
Listings courtesy of Unlock MLS as distributed by MLS GRID.
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