Is a 10% Cap Rate High for a Triple Net (NNN) Property with Sale-Leaseback?

[Tzvi Friedman]

Hello Bigger Pockets Community,

I recently came across a triple net (NNN) warehouse/flex property that I'm considering. It is a single-tenant property with 4.8 years remaining on the lease, which includes 3% annual rent increases. The deal also involves a sale-leaseback condition.

I'm trying to understand if a 10% cap rate is considered high for this type of property. What factors should I consider to determine if this is a good investment?

Any insights or advice would be greatly appreciated!

Thank you,
Tzvi