Look at how far the cap rates have compressed due to lending rates being at 4-5% what happens to cap rates if interest rates go to .5%?  

And little plastic fittings (with O-ring compression to seal) for pex.

There are some compressed time frames.  

There are specific CTL lenders out there who specialize in it.Cap rates on single free standing have compressed so much that buyers are using local banks and using short term debt to eek out cash flow with personal guarantees.Regular CMBS lenders that are non-bank see a lot of risk.Buying a single NNN building for a 5 cap versus an 8 cap 3 to 4 years ago doesn't make sense because I can get a strip center today at an 8 cap and diversify my risk among many businesses instead of one.The rent per sq ft and cost per sq ft is lower and you tend to get more valuable dirt with 2% rental increases for strip centers.  

My main interests are for low cost insulators for non-residential applications, but if I can integrate micro rebar or other enhancements and achieve a code compliant (by PSI compression test) formula, then it's a matter of finding a PE to sign off on a floor, foundation or wall application.

Cap rates can also compress depending on the type of asset, typically for multifamily value-add properties like we specialize in, cap rates can be lower than the 'typical' depending on how much upside there is on the asset. 

They’ve already seen incredible gains in value from cap rate compression.

As the rent yields continue to compress, most investors are looking at alternative strategies to boost cash flow yield like short and mid-term rentals, rent by the room, etc. 

The last 15 years has been pretty easy to make money in real estate as prices have continuously grown and cap rates have continued to compress. 

Cap rate compression is real, and the risk premium has been reduced.