How to find the rental rate based on a NNN cap rate in EXCEL?

[Hunter Purnell]

I'm having trouble figuring out how to do this in excel. I want to see what the rental rate would be for a NNN lease based on the CAP rate. I have multiple % from 9% to 5% and want to see what rental rate would bring each CAP rate. For example 9% = (x - op. exp.) / PP x = rental rate. I'm not sure if I need goal seek or it can be done with an equation.

[Greg Scott]

I'm curious why you would want to do this.  This seems mostly an academic exercise as lease rate and Cap Rate are largely set by the market. You don't get to pick them.

The math should be fairly elementary. NOI / Cap Rate = Value. With NNN there is no reduction from operating expenses so monthly NNN x12 should equal NOI. At any fixed valuation Cap Rate and NNN must be perfectly proportional. If NNN goes up 10%, Cap Rate must go up 10%.