While it is tied to the zero risk USA government debt (the floor for all income valuation models), a cap rate is very sensitive to the local market dynamics.Ring around some commercial brokers.

So, be sensitive to the cost of converting the space.

There are lots of trees on it and some area is nature sensitive area.

Then instruct your tenant to call consistently if there is ever a problem.Full disclosure 9/10 times the person complaining is being overly sensitive to vehicle presence on a public street.

Many of my deals are time-sensitive - I got a wholesaler calling to give me first shot at the property but at the end of the next day he's releasing it to the public.

However, consider that these people are probably getting quite a few calls and are sensitive.

I spoke with my real estate agent who said that they are not allowing any showings, and it may be a sensitive subject.I was wondering, have any of you faced this kind of situation before?

Keep in mind, I have a longer term perspective with a focus on cash flow and am sensitive to where we are at the cycle. 

If a property was abated 10-15 years ago, it may still give you trouble because newer testing technologies are more sensitive.

Too many new agents are fee sensitive when they haven't even made a cent.