is this a good investment?

[Jane Lewis]

I saw a commercial RE for sale listed at $1,600,000. The building was built in 2001. Cap rate is 7.85%. NOI is $125,400. It is an NNN lease starting at Mar 2010 and ending at Mar 2030 with two options. Rent increase no more than 10% per five yrs. It is leased to an auto service chain. I did some calculation,

If 30% down, 30 yrs loan @ 5.5, the mortgage is $6359 per month.  The cap rate is (125400-6359*12)/1120000=10.23%

So does this sound like a worthy deal?  I am no professional investor at all.  Just looking for some passive income.  What are the potential deal breakers or concerns?

Thank you!