good cap rate on quality strip malls
My uncle used to be a commercial lender in TX. He has been retired for about 5 years. He was telling me that I should look for cap rates of 10-12% on quality strip malls. I found a beautiful small strip mall with a 9% cap. I believe the days of 12% cap rates are gone. Even defunct meth labs seem to have low cap rates.
What say you?