Renovated Medical Office
For Sale
$349,990
5528 Hempstead Way, Springfield, VA 22151
Turnkey suite with multiple treatment rooms, two updated bathrooms, and updated major systems.
Property Size1,592 SF
Price / SF$219.84
Days on Market74
Property Features for 5528 Hempstead Way
General Information
Standard status
Active
Size
1,592 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,582
Amenities
Central Air
3
Vinyl
550
Parking.
Unassigned, Lot.
Trees/Woods
Private Roads, Interior lot.
Building Details
Year Built
1980
Listing Agency:
RE/MAX Galaxy
(703) 508-0835
Listed By:
Farzad Maghsoudi
(703) 508-0835
Source:
Xome
Added: May 30
Changed: Aug 8
Last Checked: Aug 11 at 5:21AM
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 interior configured for professional wellness use, currently arranged as a high-end acupuncture and wellness clinic. The layout includes a spacious reception area, six private offices and/or treatment rooms, and a dedicated break room with a quartz-finished kitchenette. Finishes and lighting are updated throughout, including commercial-grade LVP flooring and recessed lighting with smart-dimmer technology. The suite is also supported by two updated bathrooms with marble tile.
The property is located near The St. James and the I-95/395/495 interchange, supporting convenient regional access. Notably, the suite has two separate entrances designed to support staff and client privacy.
For buyers seeking a move-in ready professional space, the combination of private rooms, dedicated reception, and updated mechanicals makes the suite well suited for medical or wellness operators. Recent major system updates include HVAC from 2017 and a water heater from 2022. Condo fees are noted at $310 per month, which includes cleaning and area maintenance.
The property is located near The St. James and the I-95/395/495 interchange, supporting convenient regional access. Notably, the suite has two separate entrances designed to support staff and client privacy.
For buyers seeking a move-in ready professional space, the combination of private rooms, dedicated reception, and updated mechanicals makes the suite well suited for medical or wellness operators. Recent major system updates include HVAC from 2017 and a water heater from 2022. Condo fees are noted at $310 per month, which includes cleaning and area maintenance.
Key Highlights
- 1,595 SF renovated office suite currently configured as an acupuncture and wellness clinic.
- Flexible layout includes a reception area, 6 private offices/treatment rooms, and a dedicated break room with quartz‑finished kitchenette.
- Two separate entrances for staff and client privacy.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,136
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.61%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$602,720
$602.7K
Cap Rate 7%
$430,514
$430.5K
Cap Rate 9%
$334,844
$334.8K
Market Conditions
NOI Build-Up for 1,592 SF
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.
Gross rent
$47.0K $29.52/SF
− Vacancy
−$6.8K −$4.28/SF
EGI
$40.2K $25.24/SF
− OpEx
−$10.0K −$6.31/SF
NOI
$30.1K $18.93/SF
Area
Fairfax County, VA
Vacancy
14.50%
Lease Rate
$29.52 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$602,720
Cap Rate 7%
$430,514
Cap Rate 9%
$334,844
Alternative Uses
Best Use
Office B
$430.5K
$376.7K – $502.3K
NOI $30,136 @ 7.0% cap · market cap 8.61%
Second Best
Healthcare Medical
$414.4K
$362.6K – $483.5K
NOI $29,009 @ 7.0% cap · market cap 8.29%
Theoretical Best
Specialty Retail
$6.67M
$5.84M – $7.79M
NOI $467,129 @ 7.0% cap · market cap 133.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Turnkey suite with multiple treatment rooms, two updated bathrooms, and updated major systems.
Where is this office units located?
The property is located at 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 configured as an acupuncture and wellness clinic.; Flexible layout includes a reception area, 6 private offices/treatment rooms, and a dedicated break room with quartz‑finished kitchenette.; Two separate entrances for staff and client privacy.
