Medical and Office
5524 HEMPSTEAD WAY Unit B Springfield, VA 22151
New
5524 HEMPSTEAD WAY Unit B, Springfield, VA, 22151
$349,990
For Sale
$349,990
Flexible suite with multiple separate offices suitable for medical and professional services.
Property Size1,405 SF
Price / SF$249.10
Days on Market2
Property Features for 5524 HEMPSTEAD WAY Unit B
General Information
- Standard status
- Active
- Size
- 1,405 SF
- Property subtype
- Office
Building Details
- Year Built
- 1983
Listing Agency
Slate Realty
(540) 295-9808
Listed by
Israel Mohammed
(540) 295-9808
Source
Xome
Added: Jul 17 Checked: Jul 18 at 2:15 am
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 Slate Realty
Investment Insights
Based on property information with market context.
This commercial unit suite is well suited for office and medical use, with a flexible layout that includes multiple separate office spaces. The configuration supports a range of professional workflows, including consulting, legal, administrative, insurance, and other service-oriented operations.
Located just off Backlick Road, the suite offers convenient access to major commuter routes. Public transportation is available, with bus access to Springfield Metro, Van Dorn Metro Station, Tysons Corner, and surrounding areas.
Unit B is an individual commercial space offered for sale and is presented as a versatile option for either an owner-user or an investor seeking an adaptable office environment.
Located just off Backlick Road, the suite offers convenient access to major commuter routes. Public transportation is available, with bus access to Springfield Metro, Van Dorn Metro Station, Tysons Corner, and surrounding areas.
Unit B is an individual commercial space offered for sale and is presented as a versatile option for either an owner-user or an investor seeking an adaptable office environment.
Key Highlights
- Commercial unit space suitable for office, medical, and professional uses
- Flexible layout with multiple separate office spaces
- Central air conditioning and heating (heating system listed as "3")
Local 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 | $41.5k | $29.52 |
| − Vacancy | −$6.0k | −$4.28 |
| EGI | $35.5k | $25.24 |
| − OpEx | −$8.9k | −$6.31 |
| NOI | $26.6k | $18.93 |
1,405 SF · lease $29.52/SF/yr · vacancy 14.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$379.9K
$332.5K – $443.3K
NOI $26,596 @ 7.0% cap · market cap 7.60%
Second Best
Healthcare Medical
$365.7K
$320.0K – $426.7K
NOI $25,602 @ 7.0% cap · market cap 7.32%
Theoretical Best
Specialty Retail
$5.89M
$5.15M – $6.87M
NOI $412,259 @ 7.0% cap · market cap 117.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
MD Maid Easy
(Bike/Boat/Book/etc) Store
Rent2BuyProperties.com
Real Estate Agency
Green Maidworks
(Bike/Boat/Book/etc) Store
Kingdom Liberty Ministries ...
Church
God's Love Empowered ...
Church
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Flexible suite with multiple separate offices suitable for medical and professional services.
Where is this office units located?
The property is located at 5524 HEMPSTEAD WAY Unit B 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: Commercial unit space suitable for office, medical, and professional uses; Flexible layout with multiple separate office spaces; Central air conditioning and heating (heating system listed as "3")