My duplex nets less per hour spent than a 6.5 cap box would. Is that a fair way to compare them?

Third water heater in two years on my four unit, and I spent a Saturday on the phone about it. That night I ran the arithmetic on a small single tenant retail pad someone sent me, 6.5 cap, national chain, tenant pays taxes, insurance, and maintenance, 12 years of term left.

My small multifamily is doing better than 6.5 on paper. Call it low eights after everything I actually pay. But I do the work, and every year something surprises me. The box would pay less and ask nothing of me. That's what triple net means, the tenant covers the three big costs on top of rent and the owner mostly collects.

Where I get stuck is that these aren't the same risk. My four unit can lose one tenant and still pay the mortgage. The box has one tenant and one guarantee behind it, so if that company stops paying, my income goes to zero on the same day. People here call that concentration risk and I now see why.

So which comparison is honest? Yield per dollar, or yield per dollar after I price my own time and the vacancy math? I genuinely don't know how to weigh a 150 basis point giveup against never getting a 9pm call.