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Wantage Plaza & CubeSmart (Managed) 205 State Rt 23 116,450 SF 100% Leased Retail Building Wantage, NJ 07461 For Sale
Investment Highlights
- Prime visibility along NJ-23, the dominant north–south commercial artery for Sussex County, offering direct access to I-287, I-80 and I-84.
- 100% physical occupancy across retail and 67.4% across self storage, generating $718,414 of in-place NOI, with multiple levers for further growth.
- Phase I – Online as of Oct. 20, 2023. Phase III – Online as of Sept. 17, 2025. Phase II – Online as of Oct. 20, 2025.
- Eleven fully occupied suites & an AT&T cell tower totaling ±116,450 SF, anchored by CubeSmart, and surrounded by necessity-driven tenant.
- ±60,922 NRSF of climate-controlled storage managed by CubeSmart, plus 108 fully secured exterior RV/boat parking spaces.
- ±34,292 SF retail center is fully leased at an average rent of $11.85/SF, well below prevailing market rates for Northern New Jersey retail.
Executive Summary
Broker of Record
Patrick Forde
License #122887, 2330333 (NJ)
Matthews Real Estate Investment Services, Inc
300 Frank W Burr Blvd, Suite 440 Teaneck, NJ 07666
(866) 889-0550
Patrick Forde
License #122887, 2330333 (NJ)
Matthews Real Estate Investment Services, Inc
300 Frank W Burr Blvd, Suite 440 Teaneck, NJ 07666
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
116,450 SF
Building Class
B
Year Built/Renovated
1970/2023
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.21
Lot Size
12.98 AC
Zoning
Highway Commercial
Parking
532 Spaces (4.38 Spaces per 1,000 SF Leased)
Frontage
750’ on State Route 23
Amenities
- Fenced Lot
- Restaurant
- Storage Space
Property Taxes
| Parcel Number | 24-00007-0000-00012 | Improvements Assessment | $2,313,400 |
| Land Assessment | $3,190,000 | Total Assessment | $5,503,400 |
Property Taxes
Parcel Number
24-00007-0000-00012
Land Assessment
$3,190,000
Improvements Assessment
$2,313,400
Total Assessment
$5,503,400
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Wantage Plaza & CubeSmart (Managed) | 205 State Rt 23
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