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  • For sale
The property at 1105 Route 130 S in Cinnaminson is located on a primary arterial with excellent signage, visibility and access. Extra Space Storage Storage is located in an area dominated by retail, restaurants, and residential neighborhoods. The property is offered free and clear of any debt allowing the investor/buyer to acquire the property utilizing their own preferred debt/equity deal structure. Facility has a full array of solar panels with a power purchase agreement in-place to offset electricity costs and potentially derive additional revenue.

Sale Note
Colliers’ de Jong | Becher team has been retained as the exclusive advisor by the ownership to offer for sale the Extra Space Storage 3rd Party Managed property located at 1105 Route 130 S, Cinnaminson, New Jersey. The property is currently in lease-up with 93,754 net rentable square feet in 940 interior, climate controlled units in 2 floors. This Extra Space Storage 3rd party managed facility will be delivered with contractors’ warranty and is currently at approximately +/- 19.3% occupancy at an in-place weighted average rental rate of $1.69/SF and current potential WARR of $2.16/SF. Market rents in the area are reported by Yardi Matrix as $2.14/SF, giving the buyer ample room to raise rents. Facility opened April 2022 and has projected stabilized gross rents of $2,740,966 and a year four projected net operating income of $2,403,189 (less reassessed property taxes).