The best replacement for cap rate is roi.

The best alternatives to cap rate are rated as following:
★★★★★  roi
★★★★★  discount rate
★★★★  irr
★★★  yield
★★★  cash on cash
★★★  grm
★  noi
★  ebitda multiple
★  low cap rate
★  debt yield
★  cash on cash return
★  going out cap rate
  gross rent multiplier
  oar
  reversion cap rate
  rate of return
  high cap rate
  cost of capital
  terminal cap rate
  internal rate of return

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cap rate
roi
discount rate