805 NECHES ST TX 78701
| Owner | NRE RED RIVER PROPERTY OWNER LLC |
|---|---|
| Parcel ID | 0206040805 |
| Short ID | 194605 |
| Type | Real |
| Use Code | 35 Hotel — Limited Service |
| Valuation | Income |
| Improvement SF | 174,448 SF |
| Land SF | 35,348 SF |
| Acres | 0.811 |
| Year Built | 2015 |
| Legal | LOT 5-7 & S 22FT OF LOT 8 BLOCK 093 ORIGINAL CITY |
| Neighborhood | 35CBD1 |
| Land | $12,371,632 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $12,371,632 |
| Improvement | $36,628,368 |
|---|---|
| Total Improvement | $36,628,368 |
| Market | $49,000,000 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $49,000,000 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $49,000,000 |
| Taxable Value | $49,000,000 |
|---|
Appreciation: Market value has fallen -7.4% from $52,894,600 (2021) to $49,000,000 (2025), a CAGR of -1.9% over 4 years. Growth has been relatively flat for this asset class. Most of this growth came in a single year (2021→2022), not a steady climb — worth checking what drove that reappraisal rather than assuming a smooth trend. Over the same span, the median Commercial parcel countywide rose +24.1%, so this parcel has lagged the broader commercial market over the same period.
Tax Burden: The combined rate across 5 taxing entities is 2.0465% in 2025 (+0.0647% vs 2024 — rates increased ). At the current taxable value, estimated annual taxes are $1,002,778. Austin ISD is the largest single contributor, at 43.3% of the total 2025 levy.
Asset Class: Commercial. No homestead exemptions apply — full market value is taxable. This is valued using the income approach, so changes in rent roll or occupancy move the appraisal more directly than they would for a cost-approach property.
Value Composition: Land carries 25% of market value ($12,371,632 land vs $36,628,368 improvements), about $350/SF of land. Most value sits in the improvements, so building condition, age (~11 yrs), and rent roll drive the underwriting.
Submarket Position: At $49,000,000, this parcel sits in the top quartile (≥75th percentile) of Commercial property in Travis County — county median $1,417,484 (P25 $649,268 / P75 $3,347,260, n=13,608). Commercial here is the broad TCAD category — every commercial property countywide, any size or use — not a use-code-specific peer group. See the Peer Set and the Where This Property Stands benchmark below, which narrows to this property's actual use code, for parcel-level comparables.
Forward Outlook: Holding the -1.9% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $44,532,493 by 2030, with an estimated annual tax burden around $838,877. Estimated Forward figures are model projections, not certified — see the 6-Year Projection section for the low/base/high bands.
No delinquent taxes on record.
2 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 1ST | 1st Floor | 174,448 SF | ✓ |
| 187 | PARKING GARAGE | 108,793 SF | ✓ |
No large value jumps, delinquencies, or data anomalies found for this parcel.
| Entity | 2021 Rate | 2022 Rate | 2023 Rate | 2024 Rate | 2025 Rate | YoY (2024→25) | Amt Due | Amt Paid | Balance |
|---|---|---|---|---|---|---|---|---|---|
| IAU Austin ISD | 1.0617% | 0.9966% | 0.8595% | 0.9505% | 0.9252% | -0.0253% | $432,531.00 | $432,531.00 | Paid |
| CAT City of Austin | 0.5410% | 0.4627% | 0.4458% | 0.4776% | 0.5240% | +0.0464% | $244,977.95 | $244,977.95 | Paid |
| TCO Travis County | 0.3574% | 0.3182% | 0.3047% | 0.3444% | 0.3758% | +0.0314% | $175,707.54 | $175,707.54 | Paid |
| THD Travis Central Health | 0.1118% | 0.0987% | 0.1007% | 0.1080% | 0.1180% | +0.0101% | $55,175.75 | $55,175.75 | Paid |
| ACT Austin Community College | 0.1048% | 0.0987% | 0.0986% | 0.1013% | 0.1034% | +0.0021% | $48,339.50 | $48,339.50 | Paid |
| P2U | — | — | — | — | — | — | $42,781.25 | $42,781.25 | Paid |
| Combined Rate | 2.1767% | 1.9749% | 1.8092% | 1.9818% | 2.0465% | +0.0647% | $999,512.99 | $999,512.99 | Paid |
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $46,750,000 | $49,000,000 | -4.6% |
| Assessed Value | $46,750,000 | $49,000,000 | -4.6% |
| Land Value | $14,139,008 | $12,371,632 | +14.3% |
| Improvement Value | $32,610,992 | $36,628,368 | -11.0% |
| Taxable Value | $46,750,000 | $49,000,000 | -4.6% |
| Total Tax 2026 = estimate |
~$956,732
Estimated
|
~$999,513
Partial
|
ⓘ |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $49,456,392 | $46,750,000 | -2,706,392 (-5.5%) |
| Taxable Value | $49,456,392 | $46,750,000 | -2,706,392 (-5.5%) |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $46,750,000 | $14,139,008 | $32,610,992 | — | $46,750,000 | $46,750,000 | Not yet — post-cert | Certified — no billing yet |
| 2025 | $49,000,000 | $12,371,632 | $36,628,368 | — | $49,000,000 | $49,000,000 | ~$999,513 | Partial |
| 2024 | $49,000,000 | — | — | −$38,741,442 | $10,258,558 | $— | $1,181,896 | Verified |
| 2023 | $41,994,600 | — | — | −$37,598,075 | $4,396,525 | $— | $932,380 | Verified |
| 2022 | $39,794,600 | — | — | −$35,397,800 | $4,396,800 | $— | $871,970 | Verified |
| 2021 | $52,894,600 | — | — | −$48,497,800 | $4,396,800 | $— | $907,927 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | +0.9% | +0.9% | ~100% | Not available | Partial |
| 2025 | -14.0% | -14.0% | ~100% | Not available | Partial |
| 2024 | +14.0% | +14.0% | ~100% | 2.0700% | Verified |
| 2023 | +15.9% | +15.9% | ~100% | 1.8600% | Verified |
| 2022 | +2.4% | +2.4% | ~100% | 2.0200% | Verified |
| 2021 | base year | — | ~100% | 1.7200% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +16.3% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | -4.6% | -1.4% | -0.9% | +16.7% | 2024 | -24.8% | 2022 |
| Assessment Ratio | 100.0% | 41.8% | — | 100.0% | 2025 | 8.3% | 2021 |
| Effective Tax Rate (2025) | 2.0400% | 2.0400% | — | 2.0400% | 2025 | 2.0400% | 2025 |
|
Tax Amount
⚑ 2025 total is a derived or partial figure, not independently confirmed |
$999,513 | $978,737 | ~$902,603 | $1,181,896 | 2024 | $871,970 | 2022 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$48,072,008 | ~$48,072,008 | ~2.0139% | ~$968,140 | -1.9% |
| 2027 | ~$47,161,591 | ~$47,161,591 | ~1.9814% | ~$934,454 | -3.8% |
| 2028 | ~$46,268,417 | ~$46,268,417 | ~1.9488% | ~$901,697 | -5.6% |
| 2029 | ~$45,392,157 | ~$45,392,157 | ~1.9163% | ~$869,846 | -7.4% |
| 2030 | ~$44,532,493 | ~$44,532,493 | ~1.8837% | ~$838,877 | -9.1% |
| 2026 | ~$47,092,008 | ~$47,092,008 | ~2.0465% | ~$963,731 | -3.9% |
| 2027 | ~$45,258,311 | ~$45,258,311 | ~2.0465% | ~$926,205 | -7.6% |
| 2028 | ~$43,496,016 | ~$43,496,016 | ~2.0465% | ~$890,139 | -11.2% |
| 2029 | ~$41,802,341 | ~$41,802,341 | ~2.0465% | ~$855,479 | -14.7% |
| 2030 | ~$40,174,616 | ~$40,174,616 | ~2.0465% | ~$822,167 | -18.0% |
| 2026 | ~$49,052,008 | ~$49,052,008 | ~1.9977% | ~$979,893 | +0.1% |
| 2027 | ~$49,104,072 | ~$49,104,072 | ~1.9488% | ~$956,960 | +0.2% |
| 2028 | ~$49,156,190 | ~$49,156,190 | ~1.9000% | ~$933,976 | +0.3% |
| 2029 | ~$49,208,365 | ~$49,208,365 | ~1.8512% | ~$910,942 | +0.4% |
| 2030 | ~$49,260,594 | ~$49,260,594 | ~1.8024% | ~$887,859 | +0.5% |
In 2025, this property's market value of $49,000,000 places it in the top 25% for Commercial properties in Travis County (13608 comparable) — 35× the county median of $1,417,484. Commercial here is the broad TCAD category — every commercial property countywide, any size or use — not a use-code-specific peer group. Use the Use Code filter above to narrow to this property's actual type.
| Year | This Property | Bottom 25% | Median | Top 25% | Position | Group YoY |
|---|---|---|---|---|---|---|
| 2025 | $49,000,000 | $649,268 | $1,417,484 | $3,347,260 | ↑ Top 25% | -0.8% |
| 2024 | $49,000,000 | $661,016 | $1,438,465 | $3,471,171 | ↑ Top 25% | +0.0% |
| 2023 | $41,994,600 | $667,828 | $1,414,358 | $3,374,900 | ↑ Top 25% | +9.7% |
| 2022 | $39,794,600 | $553,066 | $1,215,730 | $2,939,150 | ↑ Top 25% | +3.3% |
| 2021 | $52,894,600 | $517,750 | $1,142,600 | $2,780,453 | ↑ Top 25% | base yr |
Estimate only. The appraisal district sets value as of Jan 1 (not at sale price). A sale is strong evidence of market value and is typically reflected in the next Jan 1 valuation. Taxing units set rates annually. Modeled from government data — not a legal or tax opinion.