The catch is that it might be miles away while one such object could be right near you.
For example: you want to locate a 100 dollar bill. There might be one somewhere in your vicinity but this power doesn’t tell you its location, rather the location of a 100 dollar bill that is 50 miles in a given direction.
You won’t know if it is in a bank, at someone’s house or just laying in the bushes until you look.
Would you finally know if there are hot singles in your area?
The shitty superpower genie has a dark sense of humor when it comes to this specifically, hot Kraft cheese singles that were sitting in the sun, may be in your area, depending on where you live.