Renovated Office
For Sale
$324,999
5528 Hempstead Way 24g, Springfield, VA 22151
Flexible professional suite with private treatment rooms, updated finishes, and separate staff and client entrances.
Property Size1,592 SF
Price / SF$204.15
Days on Market51
Property Features for 5528 Hempstead Way 24g
General Information
Standard status
Active
Size
1,592 SF
Additional Details
HOA Fee
$310
Highway Access
Yes
Building Details
Year Built
1980
Listing Agency:
RE/MAX Galaxy
Listed By:
Farzad Maghsoudi · License #0225105784
(703) 508-0835
Source:
Kableteam
Added: Sep 9
Changed: Oct 26
Last Checked: Oct 5 at 10:06PM
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
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Investment Insights
Based on property information with market context.
This office unit is configured as a wellness-oriented professional suite with a welcoming reception area, six private offices or treatment rooms, a break room, and a quartz-finished kitchenette. Interior improvements include commercial-grade LVP flooring, recessed lighting with smart-dimmer technology, and two bathrooms finished with marble tile. Two separate entrances support distinct staff and client access. The HVAC system was updated in 2017, and the water heater was replaced in 2022.
The property is located at 5528 Hempstead Way in Springfield, Virginia, near The St. James and the I-95, I-395, and I-495 interchange. The existing configuration and upgraded finishes provide a ready-to-use setting for office, treatment, or wellness operations.
The property is located at 5528 Hempstead Way in Springfield, Virginia, near The St. James and the I-95, I-395, and I-495 interchange. The existing configuration and upgraded finishes provide a ready-to-use setting for office, treatment, or wellness operations.
Key Highlights
- Six private offices or treatment rooms
- Two separate entrances for staff and client access
- Quartz‑finished kitchenette and dedicated break room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,009
Cap Rate
8.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$580,180
$580.2K
Cap Rate 7%
$414,414
$414.4K
Cap Rate 9%
$322,322
$322.3K
Market Conditions
NOI Build-Up for 1,592 SF
Gross rent
$56.5K $35.52/SF
− Vacancy
−$8.2K −$5.15/SF
EGI
$48.3K $30.37/SF
− OpEx
−$19.3K −$12.15/SF
NOI
$29.0K $18.22/SF
Area
Fairfax County, VA
Vacancy
14.50%
Lease Rate
$35.52 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$580,180
Cap Rate 7%
$414,414
Cap Rate 9%
$322,322
Alternative Uses
Best Use
Office B
$430.5K
$376.7K – $502.3K
NOI $30,136 @ 7.0% cap · market cap 9.27%
Second Best
Healthcare Medical
$414.4K
$362.6K – $483.5K
NOI $29,009 @ 7.0% cap · market cap 8.93%
Theoretical Best
Specialty Retail
$6.67M
$5.84M – $7.79M
NOI $467,129 @ 7.0% cap · market cap 143.73%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
743
Businesses Nearby
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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Flexible professional suite with private treatment rooms, updated finishes, and separate staff and client entrances.
Where is this office unit located?
The property is located at 5528 Hempstead Way 24g Springfield, VA.
What is the asking price?
The asking price for this property is $324,999.
What are key features of this property?
This property features: Six private offices or treatment rooms; Two separate entrances for staff and client access; Quartz‑finished kitchenette and dedicated break room
