Professional Office Suite with Separate
5524 NW Hempstead Way 23g Springfield, VA 22151
New
5524 NW Hempstead Way 23g, Springfield, VA, 22151
$349,990
For Sale
$349,990
Office suite with a flexible layout featuring multiple separate office spaces, suited for professional and medical use.
Property Size1,600 SF
Price / SF$218.74
Days on Market3
Property Features for 5524 NW Hempstead Way 23g
General Information
- Standard status
- Active
- Size
- 1,600 SF
Building Details
- Year Built
- 1983
Listing agency
Slate Realty
(540) 372-2004
Listed by
Israel Mohammed
Source
Kandorre
Added: Jul 20 Updated: Jul 21 at 3:29AM Checked: Jul 21 at 3:29AM
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 office unit space is suitable for office, medical, and a range of professional services. The interior offers a flexible layout with multiple separate office spaces, providing workable separation for consultative or administrative functions.
Conveniently located just off Backlick Road, the property offers easy access to major commuter routes. Public transportation is available, with bus access to Springfield Metro, Van Dorn Metro Station, Tysons Corner, and surrounding areas.
Ideal for an owner-user looking for a versatile professional setup or for investors seeking a commercial unit with adaptable interior configuration.
Conveniently located just off Backlick Road, the property offers easy access to major commuter routes. Public transportation is available, with bus access to Springfield Metro, Van Dorn Metro Station, Tysons Corner, and surrounding areas.
Ideal for an owner-user looking for a versatile professional setup or for investors seeking a commercial unit with adaptable interior configuration.
Key Highlights
- Built in 1983 commercial unit space with a flexible layout designed for professional use
- Multiple separate office spaces within the suite for offices, consulting, legal, administrative, or insurance services
- Suitable for medical, consulting, legal, administrative, and other professional services
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 | $47.2k | $29.52 |
| − Vacancy | −$6.8k | −$4.28 |
| EGI | $40.4k | $25.24 |
| − OpEx | −$10.1k | −$6.31 |
| NOI | $30.3k | $18.93 |
1,600 SF · lease $29.52/SF/yr · vacancy 14.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$432.7K
$378.6K – $504.8K
NOI $30,288 @ 7.0% cap · market cap 8.65%
Second Best
Healthcare Medical
$416.5K
$364.4K – $485.9K
NOI $29,155 @ 7.0% cap · market cap 8.33%
Theoretical Best
Specialty Retail
$6.71M
$5.87M – $7.82M
NOI $469,476 @ 7.0% cap · market cap 134.14%
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 - Office suite with a flexible layout featuring multiple separate office spaces, suited for professional and medical use.
Where is this office units located?
The property is located at 5524 NW Hempstead Way 23g 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: Built in 1983 commercial unit space with a flexible layout designed for professional use; Multiple separate office spaces within the suite for offices, consulting, legal, administrative, or insurance services; Suitable for medical, consulting, legal, administrative, and other professional services