9227 Centre Pointe DrWest Chester, OH 45069

Property Details for 9227 Centre Pointe Dr

Year built

2006

Lot size

6.86 AC

Property size (Sq ft)

175,128 SF

Property type

Office properties

Property subtype

Office buildings

APN

M5610-032.000-124

APU

M5610032000124

Description

This exceptional Class A office building, totaling 135,936 square feet across four stories, presents a compelling investment opportunity. Built in 2007 as a build-to-suit for AK Steel Corporation, it serves as their corporate headquarters and is currently 100% occupied under a NNN lease expiring July 31, 2029. The lease commenced February 19, 2007, with a remaining term of approximately 4.7 years. The property boasts a substantial 6.86-acre lot in West Chester, Ohio's Central Business District (CBD), providing ample surface parking (3.85 spaces per 1,000 sq ft). The building features approximately 33,984 square foot floor plates. The property's strong financial performance is evidenced by a current Net Operating Income (NOI) of $2,107,008. AK Steel, a subsidiary of Cleveland-Cliffs (a Fortune 500 company), is a leading producer of flat-rolled steel products. This investment offers a stable, long-term lease with a financially sound tenant in a prime location. The property's size, location, and tenant history make it an attractive addition to any portfolio. There are no rent bumps and no ground lease. This is a stabilized investment opportunity with a significant return potential.

• CAP approach

  CAP return

  Valuation

  6%

  $20,004,210

  6.5%

  $18,465,424

  7%

  $17,146,466

• Comparable approach

  Method

  Valuation

  Relative Method

  $21,749,146

  Geo Method

  $21,749,146

• Alternative Use

  Use

  Valuation

  Residential

  $22,897,126

  Hospitality

  $20,973,646

  Educational

  $17,449,826

  Medical

  $18,049,952

  Retail

  $27,144,174

Location Insight

City

West Chester

County

Butler

State

Ohio

Latitude

39.3277

Longitude

-84.4279

CBSA code

17140

CBSA name

CINCINNATI-MIDDLETOWN, OH-KY-IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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