When an agent gives a range for an area's Cap Rate

[Cody Barrett]

Hey everyone. What do you guys do when an agent responds with a range of Cap Rates? Or does tell you something about the local market as an investor? I asked what the local cap rate is on similar buildings that recently sold. She said they are all over the place from 5 to 10%.. Which kind of puts me in a weird spot with trying to determine a starting point for an offer price based on the building's NOI. Still learning so I appreciate the feedback, hah!

Its an 8 unit building that I am checking out. He owns 2 right next to each other but they're being separately offered to buyers.  

Thanks,

Cody B