2400 GROVE BLVD TX 78741
| Owner | CITY OF AUSTIN |
|---|---|
| Parcel ID | 0315110305 |
| Short ID | 292085 |
| Type | Real |
| Use Code | 51 Office Large (>35,000 SF) |
| Valuation | Income |
| Improvement SF | 193,788 SF |
| Land SF | 4,668,051 SF |
| Acres | 107.164 |
| Year Built | 2001 |
| Legal | LOT 1 MARSHALL HILLS SEC 1-A |
| Neighborhood | 51SEA |
| Land | $37,344,406 |
|---|---|
| Special Use Land Market | Not Available |
| Total Land | $37,344,406 |
| Improvement | $37,770,867 |
|---|---|
| Total Improvement | $37,770,867 |
| Market | $75,115,273 |
|---|---|
| Special Use Exclusion (−) | Not Available |
| Appraised | $75,115,273 |
| Value Limitation Adjustment (−) | — |
| Net Appraised (assessed) | $75,115,273 |
| Taxable Value | $75,115,273 |
|---|
Appreciation: Market value has risen +166.7% from $28,165,000 (2021) to $75,115,273 (2025), a CAGR of 27.8% over 4 years. This is strong appreciation — well above typical inflation. Growth has been fairly evenly spread across these years rather than concentrated in one jump. Over the same span, the median Commercial parcel countywide rose +24.1%, so this parcel has outpaced the broader commercial market over the same period.
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 50% of market value ($37,344,406 land vs $37,770,867 improvements), about $8/SF of land. Land and improvements both carry meaningful weight; value is balanced between the structure and its site.
Submarket Position: At $75,115,273, 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 +27.8% Base-scenario CAGR (Based on 2021–2025 certified trend, projected forward from 2025), the model projects market value near $256,006,722 by 2030, with an estimated annual tax burden around $0. 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.
9 components · show ▾hide ▴
| Code | Description | SF | In Gross |
|---|---|---|---|
| 551 | PAVED AREA | 358,020 SF | ✗ |
| 491 | SPRINKLER HEADS | 123,650 SF | ✗ |
| 2ND | 2nd Floor | 84,639 SF | ✓ |
| 1ST | 1st Floor | 81,694 SF | ✓ |
| 3RD | 3rd Floor | 27,455 SF | ✓ |
| 501 | CANOPY | 8,026 SF | ✗ |
| 611 | TERRACE | 5,828 SF | ✗ |
| 276 | ELEVATOR COM PAS | 3 SF | ✓ |
| 482 | LIGHT POLES | 3 SF | ✓ |
No large value jumps, delinquencies, or data anomalies found for this parcel.
| 2026 Certified Certified | 2025 Certified Certified | Change 2025→2026 | |
|---|---|---|---|
| Market Value | $35,254,265 | $75,115,273 | -53.1% |
| Assessed Value | $35,254,265 | $75,115,273 | -53.1% |
| Land Value | $16,305,275 | $37,344,406 | -56.3% |
| Improvement Value | $18,948,990 | $37,770,867 | -49.8% |
| Taxable Value | — | — | — |
| Exemptions | — | E | |
| Total Tax | Pending certification | — | |
| 2026 Preliminary Preliminary | 2026 Certified Certified | Change | |
|---|---|---|---|
| Market Value | $35,254,265 | $35,254,265 | +0 (+0.0%) |
| Taxable Value | — | — | — |
| Year | Market Value | Land Value | Imprv Value | Value Limitation Adj (−) | Net Appraised (Assessed) | Taxable Value | Total Tax | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | $35,254,265 | $16,305,275 | $18,948,990 | — | $35,254,265 | $— | Not yet — post-cert | Certified — no billing yet |
| 2025 | $75,115,273 | $37,344,406 | $37,770,867 | — | $75,115,273 | $— | not in county billing file ⓘ | Partial |
| 2024 | $45,169,900 | — | — | −$43,913,198 | $1,256,702 | $— | $239,327 | Verified |
| 2023 | $45,169,900 | — | — | −$43,913,198 | $1,256,702 | $— | $881,964 | Verified |
| 2022 | $28,800,000 | — | — | −$27,543,298 | $1,256,702 | $— | $973,483 | Verified |
| 2021 | $28,165,000 | — | — | −$19,450,909 | $8,714,091 | $— | $645,809 | Verified |
| Year | MktVal YoY | Assessed YoY | Asmt Ratio | Eff. Tax Rate | Coverage |
|---|---|---|---|---|---|
| 2026 | -53.1% | -53.1% | ~100% | Not available | Partial |
| 2025 | +40.9% | +40.9% | ~100% | Not available | Partial |
| 2024 | +18.0% | +18.0% | ~100% | 0.4500% | Verified |
| 2023 | +0.0% | +0.0% | ~100% | 1.9500% | Verified |
| 2022 | +56.8% | +56.8% | ~100% | 2.1600% | Verified |
| 2021 | base year | — | ~100% | 2.2900% | Verified |
| Cumulative market value growth (earliest valid year → 2025): +160.8% | |||||
| 12 Month | Hist. Avg | Forecast Avg | Peak | When | Trough | When | |
|---|---|---|---|---|---|---|---|
| Market Value Growth | -53.1% | +14.5% | +56.7% | +66.3% | 2025 | -53.1% | 2026 |
| Assessment Ratio | 100.0% | 40.1% | — | 100.0% | 2025 | 2.8% | 2023 |
|
Effective Tax Rate (2025)
⚑ Billing data available for 2025 only |
— | — | — | — | — | — | — |
| Tax Amount | $239,327 | $685,146 | — | $973,483 | 2022 | $239,327 | 2024 |
| Year | ~Mkt Value | ~Assessed | ~Rate | ~Ann. Tax | Value Δ |
|---|---|---|---|---|---|
| 2026 | ~$95,991,521 | ~$82,626,800 | ~0.0000% | ~$0 | +27.8% |
| 2027 | ~$122,669,755 | ~$90,889,480 | ~0.0000% | ~$0 | +63.3% |
| 2028 | ~$156,762,478 | ~$99,978,428 | ~0.0000% | ~$0 | +108.7% |
| 2029 | ~$200,330,348 | ~$109,976,271 | ~0.0000% | ~$0 | +166.7% |
| 2030 | ~$256,006,722 | ~$120,973,898 | ~0.0000% | ~$0 | +240.8% |
| 2026 | ~$94,489,216 | ~$82,626,800 | ~0.0000% | ~$0 | +25.8% |
| 2027 | ~$118,860,140 | ~$90,889,480 | ~0.0000% | ~$0 | +58.2% |
| 2028 | ~$149,516,882 | ~$99,978,428 | ~0.0000% | ~$0 | +99.0% |
| 2029 | ~$188,080,697 | ~$109,976,271 | ~0.0000% | ~$0 | +150.4% |
| 2030 | ~$236,591,000 | ~$120,973,898 | ~0.0000% | ~$0 | +215.0% |
| 2026 | ~$97,493,827 | ~$82,626,800 | ~0.0000% | ~$0 | +29.8% |
| 2027 | ~$126,539,462 | ~$90,889,480 | ~0.0000% | ~$0 | +68.5% |
| 2028 | ~$164,238,454 | ~$99,978,428 | ~0.0000% | ~$0 | +118.6% |
| 2029 | ~$213,168,837 | ~$109,976,271 | ~0.0000% | ~$0 | +183.8% |
| 2030 | ~$276,676,697 | ~$120,973,898 | ~0.0000% | ~$0 | +268.3% |
In 2025, this property's market value of $75,115,273 places it in the top 25% for Commercial properties in Travis County (13608 comparable) — 53× 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 | $75,115,273 | $649,268 | $1,417,484 | $3,347,260 | ↑ Top 25% | -0.8% |
| 2024 | $45,169,900 | $661,016 | $1,438,465 | $3,471,171 | ↑ Top 25% | +0.0% |
| 2023 | $45,169,900 | $667,828 | $1,414,358 | $3,374,900 | ↑ Top 25% | +9.7% |
| 2022 | $28,800,000 | $553,066 | $1,215,730 | $2,939,150 | ↑ Top 25% | +3.3% |
| 2021 | $28,165,000 | $517,750 | $1,142,600 | $2,780,453 | ↑ Top 25% | base yr |