How does Sheen + Brutalizer + Pickaxe + 328gold = Creative Item Name (total price 3900)

Stats would be something like
+50 Attack Damage, UNIQUE Passive: +15% Cooldown Reduction, UNIQUE Passive: +20 Armor Penetration, UNIQUE Passive: After using an ability, your next basic attack deals bonus physical damage equal to your base Attack Damage (2 second cooldown). Does not stack with Sheen, Trinity Force, or Lich Bane.

Broken OP? Useless? Viable? Tweaks needed but OK?

The general problems with physical damage + cdr:
1. Ad Champions generally are not balanced around much cooldown reduction; therefore, any "good" item would require a large number of physical damage champions to be nerfed to accommodate it--even though those champions might not take it in every game.

2. All "ad casters" are bruisers/assassins with a need to build defensive items. Every single one of those champions has access to some strong CDR+defense items. Therefore, there is no gap to fill by making this kind of item.

3. Utility (which includes the Cooldown reduction stat), should require some sacrifice in damage potential to acheive it. This is one of the reasons why Utility items are mostly defensive.

Needs moar spellvamp

I Can see this being viable with champions such as urgot.

Don't need another item from sheen. Trinity force already exists.

Maybe if it was more like, next attack applies a 3 second DOT equal to 75% of base ad? (cannot stack)