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    11900 Hays Rd Spangle, WA 99031

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    For Sale
    $299,000

    40 acres in Liberty school district with creek.

    Type:Unimproved Land
    Lot size:
    40.00 Acres
    Added:
    Mar 5, 2026
    Days on Market:
    33
    Last Refresh:
    Apr 5 at 11:19 pm

    Property Features for 11900 Hays Rd

    General Information

    Standard status
    Active
    Lot size
    40.00 Acres
    Property subtype
    Unimproved Land

    We can help!

    Listing Contact
    Joni Hay
    Joni Hay

    Listing agent Joni Hay License #131013

    Listing office Spokane

    Listing date Mar 5, 2026

    Source Kw

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Spokane

    Overview

    Picturesque 40-Acre Parcel

    This picturesque 40-acre parcel is located within the Liberty school district, free of HOA or CCRs. The land features views, a small amount of timber, a grassy pasture area, and an alfalfa field. Latah Creek runs through the property. It is approximately 20 minutes from Spokane and 5 minutes from schools. Main power supply from Avista has been installed to the property line. The buyer will need to install a well and septic system. The property is located off a county-maintained road, and the seller has installed a driveway through Lot A. The property was recently surveyed, and corners are marked. Currently used for agriculture and zoned as 83 Cur-Use-Ag, this land offers an opportunity to build a new home or equestrian estate.
    Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Suggested Use

    Real Estate Agency Spa & Massage Center Hair Salon Nail Salon Garden Center Discount Store Department Store Storage Facility Bar & Pub Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Spangle
    County
    Spokane
    State
    Washington
    Longitude
    -117.373
    Latitude
    47.4263

    Nearby Similar for Sale

    • $299,000

      Picturesque 40-Acre Parcel in Spangle

      40 acres in Liberty school district with creek and views.
      11900 Hays Rd, Spangle, WA 99031
      View Details
    • $1,600,000

      Spangle WA Agricultural Land

      369-acre agricultural land with development potential near Spokane.
      E Cornwall Rd, Spangle, WA 99031
      View Details
    • $183,350

      Spangle, WA Land Opportunity

      24 acres near Spokane, ideal for farming and country living.
      NKA Cheney Spangle Rd lot: 2, Spangle, WA 99031
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - 40 acres in Liberty school district with creek.
    Where is this agricultural land / farmland located?
    The property is located at 11900 Hays Rd Spangle, WA.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: 40 acre parcel with no HOA or CCRs; Located in award winning Liberty school district; Latah Creek runs through the property, offering a unique natural feature
    (509) 919-1389
    We can help!
    Listing Contact
    Joni Hay
    Joni Hay
    Real Estate License ID: 131013
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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