Take a property with $1MM in NOI at a 3.5% cap rate to start and watch what happens each 100 bp increase in cap rate:
Starting value $28,571,428
4.5% cap - $22,222,222 (⬇️ 22%)
5.5% cap - $18,181,818 (⬇️ 18%)
6.5% cap - $15,384,615 (⬇️ 15%)
7.5% cap - $13,333,333 (⬇️ 13%)