Warehouse Building | What is the best way to know its value

[Edward Salazar]

Hi everyone, I just bought a 10,000 sf Warehouse building from a distressed owner and would like to try something out. I did some renovations to it and brought some highly qualified new tenants that pay a lot more than the previous ones. The current tenants pays 6.5 per sq ft/year, whereas the previous paid 4.5 per year. 

My question is: If I want to sell the property fully rented, would i assess the value and sales price based on the current rentals and cap rate or the comparables? What would be an enticing cap rate for an investor? Is there a strong demand for this type of investment? At the time of me purchasing it, The appraiser gave me an appraised value similar to what i paid for, would the appraised value increase because of the higher returns? Thanks for any input