Create a new component from a part with edit at the assembly level?

Is there a way to create a new part from a part that I added cuts to at the assembly level?

example:

1.) Add part number 12345 into an assembly.

2.) Add a cut to part 12345 at the assembly level

3.) Save 12345 part with newly added cut as new part number 54321

4.) Assembly tree now shows new part 54321 where 12345 used to be.

Anybody?

I'm sure JD knows a workflow to do this task.

JD where art thou?

There is an add-in that you can find called Feature Migrator, that will take assembly-level features and add them to parts, but it's pretty finicky and error-prone, in my (limited) experience. It also won't save a copy of the part you've edited, I don't think.

Easiest way to do it is right click on the part and open it, save-as with a different file name, then go back to the assembly and do a component replace, then you can edit it in-place in the assembly.

Thank you Bishop, I used the workflow you suggested and it worked just fine.