West Chester Office
9227 Centre Pointe Dr, West Chester, OH 45069
Four-story office building 100% leased by AK Steel Corporation.
Type:Office
Property size:
135,936 SFPrice / SF:
$123/SF- Added:
- Sep 5, 2024
- Days on Market:
- 637
- Last Refresh:
- May 12 at 8:12 pm
Property Features for 9227 Centre Pointe Dr
General Information
- Standard status
- Active
- Size
- 135,936 SF
- Property subtype
- Office
Building Details
- Year Built
- 2007
Listing agent Tivon Moffitt License #AZ BR639369000
Listing office Marcus & Millichap - Phoenix
Listing date Sep 5, 2024
Source Crexi
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 Marcus & Millichap - Phoenix
HighLights
- 100% leased to AK Steel Corporation, a subsidiary of Cleveland‑Cliffs.
- Property has served as AK Steel's headquarters since 2007.
- AK Steel is a leading producer of flat‑rolled steel products.
- Located in West Chester (Cincinnati MSA), OH.
- +/- 135,936 SF four‑story office building.
- AK Steel retains its branding and corporate identity.
Overview
This four-story office building offers 135,936 square feet and is fully leased by AK Steel Corporation. Constructed in 2007 as a build-to-suit property, it has served as AK Steel’s headquarters since its completion. AK Steel is a producer of flat-rolled carbon, stainless and electrical steel products, primarily serving the automotive, infrastructure, manufacturing, and distribution markets. The company also provides customer solutions with carbon and stainless-steel tubing products, hot- and cold-stamped components, and die design and tooling. Headquartered in West Chester, Ohio, the company has approximately 9,300 employees at manufacturing operations in the United States, Canada and Mexico, and facilities in Western Europe. In March 2020, Cleveland-Cliffs acquired AK Steel, integrating its iron ore business with steel production. AK Steel became a wholly owned subsidiary, retaining its branding and corporate identity. Cleveland-Cliffs is the largest flat-rolled steel producer and largest supplier of steel to the automotive industry in North America. Cleveland-Cliffs employs more than 25,000 people across its mining, steel and downstream manufacturing operations in the United States and Canada.
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 | $2.28M | $16.80 |
| − Vacancy | −$577.8k | −$4.25 |
| EGI | $1.71M | $12.55 |
| − OpEx | −$426.5k | −$3.14 |
| NOI | $1.28M | $9.41 |
135,936 SF · lease $16.80/SF/yr · vacancy 25.30% · expense 25.00%
Alternative Uses
Best Use
Office B
$18.28M
$15.99M – $21.32M
NOI $1,279,457 @ 7.0% cap · market cap 7.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$24.37M
$21.32M – $28.43M
NOI $1,705,942 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
Location Insight
- Map
- Local Demand
- City
- West Chester
- County
- Hamilton
- State
- Ohio
- Longitude
- -84.4290082
- Latitude
- 39.3269491
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Four-story office building 100% leased by AK Steel Corporation.
Where is this office building located?
The property is located at 9227 Centre Pointe Dr West Chester, OH.
What is the asking price?
The asking price for this property is $16,750,000.
What are key features of this property?
This property features: 100% leased to AK Steel Corporation, a subsidiary of Cleveland‑Cliffs.; Property has served as AK Steel's headquarters since 2007.; AK Steel is a leading producer of flat‑rolled steel products.
