Valuation Method for Commercial Real Estate

As an investment analyst, you are tasked with valuing a commercial real estate property for a potential acquisition. The property generates an annual net operating income (NOI) of $400,000 and is located in an area experiencing stable demand but no significant growth. You consider three different valuation methods: the income approach, the sales comparison approach, and the cost approach.

Given the current market conditions and the unique characteristics of this property, which valuation method would likely provide the most relevant value estimate in this scenario?