Are you a net lease investor with $5 million cash in your pocket? Then you're golden in the current market.

Right now the sector's biggest problem is that there is a considerable amount of supply on the market and not enough buyers willing to invest at cap rates where the merchant developers can break even or make some money, explains Jimmy Goodman, partner with The Boulder Group. Goodman will be a moderator at GlobeSt.com's upcoming Net Lease conference.

Most of the deals he is seeing come from private buyers because institutional capital needs to be at a much higher cap rate – over 7% – compared to what private buyers can do. "There are not enough sellers that can meet that high of a cap rate," Goodman says. A private buyer with cash, though, does not have to secure expensive financing, which is why the sub $5 million deal space right now is particularly robust. "The larger the deal the more likely you will need some form of debt and that makes a deal harder to pencil, Goodman says.