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Wantage Plaza & CubeSmart - Bids Due 3/13/26 205 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
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
Amenities
- Fenced Lot
- Restaurant
- Storage Space
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Real Estate
- -
- -
- Triple Net
- -
CubeSmart (NYSE: CUBE) is a self-administered, self-managed real estate investment trust focused on the ownership, operation, acquisition, development, and third-party management of self-storage properties across the United States. Originally established as U-Store-It and rebranded to CubeSmart, the company has grown into one of the three largest owners/operators in the sector, supported by an integrated operating platform that includes revenue management, marketing, development, and a scaled third-party management business. As a REIT, CubeSmart’s strategy emphasizes stable cash flow generation, disciplined external growth through selective acquisitions and joint ventures, and capital-light fee income from managed stores.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Real Estate | - | - | Triple Net | - |
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
Presented by
Wantage Plaza & CubeSmart - Bids Due 3/13/26 | 205 State Rt 23
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