This work proposes an enhanced nanolevel magnetic separation model considering flow limitations using simplifying assumptions. The theoretical model builds on magnetic heteroflocculation models described in the literature and couples the magnetic and hydrodynamic forces between two spherical particles with different sizes and different magnetic properties under bulk fluid flow conditions. Separator performance figures are presented showing the relationship between input parameters such as applied magnetic field strength, flow rate, and matrix material size and composition, and output parameters such as Peclet number and capture propensity for various contaminant particle sizes. This purely predictive model work may be useful in estimating actual magnetic separator performance and serve as a starting point for experimental work or more accurate mathematical models. This work provides a simplified mathematical model to predict magnetic separator performance based on single magnetic matrix particle and single magnetic contaminant particle interactions. Local maxima, or transition points, between matrix and contaminant particle size and separator performance indicate magnetic separator performance can be optimized by the selection of appropriate magnetic matrix particle size. Evaluation of points of maximum particle capture force using the Peclet number provides limiting conditions for retention of particles under Stokes flow conditions.