Renovated Medical Office
5528 Hempstead Way Unit 24G Springfield, VA 22151
For Sale
$349,990
Turnkey suite with multiple treatment rooms, two updated bathrooms, and updated major systems.
Property Size1,592 SF
Price / SF$219.84
Days on Market78
Property Features for 5528 Hempstead Way Unit 24G
General Information
Standard status
Active
Size
1,592 SF
Property subtype
Office
Building Details
Year Built
1980
Listing Agency:
RE/MAX Galaxy
(703) 508-0835
Listed By:
Farzad Maghsoudi
(703) 508-0835
Source:
Xome
Added: May 14
Changed: Jul 10
Last Checked: Jul 30 at 4:13AM
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 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 | $47.0k | $29.52 |
| − Vacancy | −$6.8k | −$4.28 |
| EGI | $40.2k | $25.24 |
| − OpEx | −$10.0k | −$6.31 |
| NOI | $30.1k | $18.93 |
1,592 SF · lease $29.52/SF/yr · vacancy 14.50% · expense 25.00%
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
Location Intelligence
Current Use
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 Unit 24G 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.
