Renovated Medical Office
For Sale
$349,990
24g-5528 Hempstead Way, Springfield, VA 22151
Move-in ready, renovated suite with reception, private offices, updated restrooms, and separate staff and client entrances.
Property Size1,595 SF
Price / SF$219.43
Days on Market60
Property Features for 24g-5528 Hempstead Way
General Information
Standard status
Active
Size
1,595 SF
Additional Details
Business Included
Yes
Listing Agency:
RE/MAX Galaxy
(703) 508-0835
Listed By:
Farzad Maghsoudi
(703) 508-0835
Source:
Exprealty
Added: Jun 1
Changed: Jul 10
Last Checked: Jul 29 at 12:45PM
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 RE/MAX Galaxy
Investment Insights
Based on property information with market context.
This meticulously renovated office suite offers a flexible medical and wellness layout totaling 1,595 square feet. The space includes a spacious reception area, six private offices or treatment rooms, a dedicated break room, and a quartz-finished kitchenette. Commercial-grade LVP flooring and recessed lighting with smart-dimmer technology support a polished interior finish, while two updated bathrooms feature marble tile. Two separate entrances are set up to support staff and client privacy. Major systems include an HVAC replacement in 2017 and a water heater update in 2022.
The property is described as being conveniently positioned near The St. James and the I-95/395/495 interchange, providing straightforward regional access.
As currently configured for a high-end acupuncture and wellness clinic, the suite should suit healthcare or wellness operators seeking a turnkey environment with multiple exam or treatment rooms, a reception area, and dedicated staff flow through separate entrances. The updated finishes, two bathrooms, and modernized mechanicals are practical for day-to-day use, while the condo association fee is stated at $310 per month for cleaning and area maintenance.
The property is described as being conveniently positioned near The St. James and the I-95/395/495 interchange, providing straightforward regional access.
As currently configured for a high-end acupuncture and wellness clinic, the suite should suit healthcare or wellness operators seeking a turnkey environment with multiple exam or treatment rooms, a reception area, and dedicated staff flow through separate entrances. The updated finishes, two bathrooms, and modernized mechanicals are practical for day-to-day use, while the condo association fee is stated at $310 per month for cleaning and area maintenance.
Key Highlights
- 1,595 SF renovated office suite currently used as an acupuncture and wellness clinic
- Flexible layout includes reception area, six private offices/treatment rooms, and a dedicated break room
- Quartz‑finished kitchenette and commercial‑grade LVP flooring with recessed lighting and smart‑dimmer technology
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.1k | $29.52 |
| − Vacancy | −$6.8k | −$4.28 |
| EGI | $40.3k | $25.24 |
| − OpEx | −$10.1k | −$6.31 |
| NOI | $30.2k | $18.93 |
1,595 SF · lease $29.52/SF/yr · vacancy 14.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$431.3K
$377.4K – $503.2K
NOI $30,193 @ 7.0% cap · market cap 8.63%
Second Best
Healthcare Medical
$415.2K
$363.3K – $484.4K
NOI $29,064 @ 7.0% cap · market cap 8.30%
Theoretical Best
Specialty Retail
$6.69M
$5.85M – $7.80M
NOI $468,009 @ 7.0% cap · market cap 133.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
743
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 22151, VA
18,026
Population
5,853
Households
3.1
Avg Household Size
39
Median Age
50%
College-Educated
89%
High-School Grad
5.1 sq mi
ZIP Area
3,535
Density / Sq Mi
$160,187
Median Household Income
$57,986
Median Earnings
$2,502
Median Rent
$636,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Move-in ready, renovated suite with reception, private offices, updated restrooms, and separate staff and client entrances.
Where is this medical office space located?
The property is located at 24g-5528 Hempstead Way Springfield, VA.
What is the asking price?
The asking price for this property is $349,990.
What are key features of this property?
This property features: 1,595 SF renovated office suite currently used as an acupuncture and wellness clinic; Flexible layout includes reception area, six private offices/treatment rooms, and a dedicated break room; Quartz‑finished kitchenette and commercial‑grade LVP flooring with recessed lighting and smart‑dimmer technology
