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So i found this listing in Loopnet for an office building at $1.2mil w/ a 26% cap rate.It's in a pretty good area and 100% leased up.Talked to the agent and he said it's closing tomorrow; final price $1.05mil and stated the cap rate is accurate (of course I did not believe it so I flat out asked if accurate).Besides a pro forma; what other docs could I get to substanitate the agent/sellers claims on the cap rate?  

Also, what's the market rent if you don't think the figures from your agent are accurate? 

How accurate do you believe the estimates, or zestimates, are?  

I am with Steve and your initial impressions on "too good to be true" may be accurate..

Are you sure you are performing accurate ARV's?

After leaving the service he was employed with Proctor and Gamble in sales.

The gamble will be: how long will the Tenant last, and/or how much will the land appreciate?

Use realtor.com, which is more viable, to secure comps for an accurate ARV.Kudos,Mary

This could be NOI or NI.Sales Price: Less any feesIf you are making a simple return calculation you can use  ROI (unleveraged and leveraged), but the longer you have held your investment the less accurate ROI will be.1.