Exceptional investment and development opportunity on ±4.42 acres of Light Industrial-zoned land in a prime Spokane location with quick, convenient access to I-90. This versatile property offers the rare combination of immediate rental income and outstanding future development potential. Two updated residential homes are currently leased, generating $4,600 per month with the opportunity for immediate rent increases. The homes include a 5-bedroom, 2-bath residence with approximately 1,656 square feet and a 4-bedroom, 2-bath residence with approximately 1,200 square feet. Continue collecting rental income while planning your next commercial or industrial project. The Light Industrial zoning supports a variety of business and development opportunities, making this an ideal investment for developers, owner-users, or investors seeking long-term upside. Rarely does a property offer this combination of income, flexibility, desirable zoning, and a highly accessible location.
Exceptional investment and development opportunity on ±4.42 acres of Light Industrial-zoned land in a prime Spokane location with quick, convenient access to I-90. This versatile property offers the rare combination of immediate rental income and outstanding future development potential. Two updated residential homes are currently leased, generating $4,600 per month with the opportunity for immediate rent increases. The homes include a 5-bedroom, 2-bath residence with approximately 1,656 square feet and a 4-bedroom, 2-bath residence with approximately 1,200 square feet. Continue collecting rental income while planning your next commercial or industrial project. The Light Industrial zoning supports a variety of business and development opportunities, making this an ideal investment for developers, owner-users, or investors seeking long-term upside. Rarely does a property offer this combination of income, flexibility, desirable zoning, and a highly accessible location.
SPOKANEMLS as Distributed by MLS Grid #202219034
Nov 7, 2022
Listing Removed
—
Aug 14, 2022
Price Changed
$1,125,000
Jul 8, 2022
Listed
$1,200,000
SPOKANEMLS as Distributed by MLS Grid #202122910
Oct 21, 2021
Sold
$495,000
Oct 5, 2021
Pending
—
Sep 24, 2021
Listed
$499,900
SPOKANEMLS as Distributed by MLS Grid #202020228
Dec 9, 2020
Listing Removed
—
Aug 9, 2020
Listed
$485,000
SPOKANEMLS as Distributed by MLS Grid #201927087
Jul 12, 2020
Listing Removed
—
Dec 12, 2019
Listed
$550,000
SPOKANEMLS as Distributed by MLS Grid #201911545
Nov 1, 2019
Listing Removed
—
Mar 10, 2019
Price Changed
$485,000
Feb 7, 2019
Listed
$495,000
SPOKANEMLS as Distributed by MLS Grid #201814608
Dec 31, 2018
Listing Removed
—
Apr 6, 2018
Listed
$375,000
SPOKANEMLS as Distributed by MLS Grid #201614056
Mar 21, 2017
Listing Removed
—
Mar 21, 2016
Listed
$395,000
SPOKANEMLS as Distributed by MLS Grid #201614061
Mar 21, 2017
Listing Removed
—
Mar 21, 2016
Listed
$395,000
SPOKANEMLS as Distributed by MLS Grid #201324948
Sep 30, 2014
Listing Removed
—
Sep 29, 2013
Listed
$419,000
SPOKANEMLS as Distributed by MLS Grid #201016858
Feb 1, 2011
Listing Removed
—
Apr 15, 2010
Listed
$295,000
SPOKANEMLS as Distributed by MLS Grid #201020525
Oct 18, 2010
Listing Removed
—
Jun 15, 2010
Listed
$99,500
SPOKANEMLS as Distributed by MLS Grid #24023543
Jun 1, 2005
Sold
$165,000
Aug 6, 2004
Listed
$165,000
SPOKANEMLS as Distributed by MLS Grid #24014873
Aug 1, 2004
Listing Removed
—
Apr 5, 2004
Listed
$168,000
SPOKANEMLS as Distributed by MLS Grid #24014874
Aug 1, 2004
Listing Removed
—
Apr 5, 2004
Listed
$182,900
Year
Property tax
Land + Additions
Assessment*
2026
$5,442 (+8.4%)
$127,750 + $382,100
$509,850
2025
$5,021 (+10.3%)
$127,750 + $382,100
$509,850
2024
$4,551 (+3.6%)
$140,620 + $392,300
$532,920
2023
$4,392 (−3.4%)
$136,850 + $385,500
$522,350
2022
$4,547 (+45.4%)
$114,040 + $317,100
$431,140
2021
$3,127 (+1.4%)
$51,810 + $226,400
$278,210
2020
$3,083 (+15.3%)
$47,100 + $215,300
$262,400
2019
$2,672 (+3.2%)
$47,100 + $193,700
$240,800
2018
$2,590 (+18.0%)
$43,000 + $143,200
$186,200
2017
$2,195 (+4.5%)
$43,000 + $143,200
$186,200
2016
$2,100 (−1.7%)
$42,830 + $128,300
$171,130
2015
$2,136
$42,830 + $123,700
$166,530
Public record
Public record
Zoning
Permits
Beds
3
Baths
2
Stories
1
Lot width
—
Lot depth
—
Lot size
4.42 Acres
Year renovated
2001
Finished Sq. Ft.
1,656
Unfinished Sq. Ft.
—
Total Sq. Ft.
1,656
Year built
1948
Style
Single Family Residential
County
Spokane County
APN
24053.9031
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Sep 2, 2026.
LI
AIRPORT OVERLAY ZONE
Light Industrial Zone
The Light Industrial (LI) zone is intended for industrial businesses that need industrial resources, but that do not have the potential impacts on surrounding areas that heavy industrial users do. Light industrial areas often have a special emphasis and attention given to aesthetics, landscaping and community compatibility. Light Industrial areas are comprised of predominantly industrial uses but may incorporate office and neighborhood-sized commercial uses that support and compliment the industrial area. Residential use is generally discouraged except for master planned industrial developments that provide residences intended to house employees of the planned industrial use.
Zone overlays
Traffic Pattern Zone
Permitted uses
Include but are not limited to:
Automotive sales
Gas station
Convenience store
Day care facility
Commercial laundry
Manufacturing
Self-Storage / mini-Storage
Warehouse
Hotel / motel
Office
Oct 13, 2025 • Final
Sewer relay/repair
Plumbing
Oct 28, 2022 • Final
Water meter
Electrical
Electric meter
Plumbing
Water heater
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
5/10 Fire Factor
5% chance of being in a wildfire in next 30 years
2/10 Heat Factor
7 days above 93° expected this year, 14 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
8/10 Air Factor
12 unhealthy days expected this year, 15 days in 30 years
Provided by First Street
Historical weather
Spokane, WA • 99224
Average low and high temperatures (°F)
35
26
39
27
52
35
60
38
70
47
77
53
87
60
85
60
80
54
59
39
45
35
40
32
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
95/ 100
Exceptional sunlight
Sunscore
This home ranks in the top 9% for direct sun exposure in Spokane. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
11.2 hrs
5.9 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 5703 S Thomas Mallen Rd
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $420,445 and $450,721.
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $420K to $451K.