good cap rate on quality strip malls

[Rodger Wilson]

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?