1031 Exchange for the long run ?

[Guy Injayan]

I have a single tenant triple net lease building in the Nashville metro area.  I bought the building in 2021 when caps were lower for $1.2 million.  Now the caps are higher but the market value of the property has decreased around $1 million.  I have another 3 years on the lease, but not sure if tenant will renew.  As a result I am running different scenarios if I do another 1031 exchange or not.   I am looking for assistance in reviewing the pro/ con of doing the next 1031 exchange.