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    2425 Magnesium Rd Spokane, WA 99217

    Sponsored
    For Lease
    $15,681 /Mo

    Acreage for Lease, Heavy Industrial Zoning

    Lot size:
    958,320 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional industrial property, known as the Magnesium Yard, presents a rare opportunity for businesses seeking expansive land in a prime Spokane County location. The property boasts a sizable area ranging from one to twenty-two acres, offering significant flexibility for various industrial uses. Its zoning designation is Heavy Industrial, allowing for a wide array of potential developments and operations. The site is primarily fenced, providing a secure environment for storage or other industrial activities. Convenient access to Nevada and the market is a key advantage, further enhanced by its proximity to the future 395. The property's Assessed Parcel Number (APN) is 36215.9011, and it's located in Spokane County, with Crestline serving as a cross street. This single-tenant property is ideal for companies requiring substantial space and strategic access to transportation routes. The flexible acreage allows for customization to meet specific business needs, making it an attractive investment for long-term growth and operational efficiency. The substantial size and strategic location combine to create a compelling opportunity for businesses seeking a secure and well-positioned industrial base of operations within Spokane County. The property's heavy industrial zoning ensures a wide range of permissible uses, making it suitable for a variety of industrial applications. Interested parties are encouraged to investigate this unique opportunity further.

    Property Features for 2425 Magnesium Rd

    General Information

    Property type
    Land
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    958,320 SF
    Total Rate
    15681.6

    Unit(s) available at that property

    Space
    Size
    958,320 SF
    Rate per SF
    $15,681

    HighLights

    • 1 Acre to 22 Acres of Industrial Land for Sale
    • Single‑Tenant Industrial Land Parcel
    • Located near Crestline, Spokane County, WA
    • Heavy Industrial Zoning
    • APN: 36215.9011
    • Mostly fenced storage yard with great access to Nevada, the market, and future 395.
    Property Profile Location Intelligence

    Current Use by Public Records

    Finnoe Design Steel Fabricator BL Iron, Inc Steel Fabricator Highwood Global Manufacturer

    Suggested Use

    Realty agency Law Firm Spa & Massage Building Supply Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.37470959915
    Latitude
    47.73666758891

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    FAQs

    What type of property is this?
    Land - Acreage for Lease, Heavy Industrial Zoning
    Where is this land located?
    The property is located at 2425 Magnesium Rd Spokane, WA.
    What is the lease rate?
    The lease rate is $15,681 /Mo.
    What are key features of this property?
    This property features: 1 Acre to 22 Acres of Industrial Land for Sale; Single-Tenant Industrial Land Parcel; Located near Crestline, Spokane County, WA
    Request Owner's contact information
    2425 Magnesium Rd Spokane, WA 99217
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    Spokane, WA 99217
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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.

    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
    2425 Magnesium Rd Spokane, WA 99217
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