📉 Why Cap Rates No Longer Tell the Full Story in 2026 Commercial Real Estate

Bill Rapp - Commercial & Residential Mortgage Broker

Published on: 13/01/2026

Why Cap Rates No Longer Tell the Full Story And what lenders are actually using to approve—or kill—deals like in 2025 For decades, cap rates were the go-to metric for valuing commercial real estate. They were simple, widely understood, and effective in a low-rate, stable credit environment. That world no longer exists.