Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    35 Rose Morrow Road Wantage Twp, NJ 7461

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,900,000

    Large warehouse on 20+ acres with favorable cap rate.

    Property size:
    50,339 SF
    Added:
    Jun 4, 2025
    Days on Market:
    302
    Last Refresh:
    Mar 16 at 9:08 am

    Property Features for 35 Rose Morrow Road

    General Information

    Standard status
    Active
    Size
    50,339 SF

    Building Details

    Year Built
    9999

    We can help!

    Listing Contact
    JOSEPH KRUMPFER
    JOSEPH KRUMPFER

    Listing agent JOSEPH KRUMPFER

    Listing office KRUMPFER REALTY GROUP

    Listing date Jun 4, 2025

    Source Corcoran

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of KRUMPFER REALTY GROUP

    Overview

    Spacious Warehouse on Large Lot

    This is a rare opportunity to purchase a large warehouse situated on over 20 acres in Sussex County, New Jersey. The property features over 50,000 square feet of interconnected space, including more than 45,000 square feet on the ground floor and an additional 4,000+ square feet on the mezzanine level. The main warehouse is located at the rear of the building. The interior includes over 35,000 square feet of open warehouse space with ceiling heights reaching up to 23 feet, complemented by more than 10,000 square feet of storage, office, kitchen, and restroom facilities. Loading docks are available in both flush and drive-in configurations. The current tenant, a lawn care equipment company, has been in operation for nearly 50 years and has a lease extending into 2029 with 3.0% annual increases. The property has been previously used for manufacturing, packaging/repackaging, warehousing, and distribution of equipment, products, food, and distillery items. The zoning permits a wide range of uses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Steven Willand Inc. Warehouse & Storage

    Suggested Use

    Real Estate Agency Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Accounting Firm Veterinary Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wantage Twp
    County
    Sussex
    State
    New Jersey
    Longitude
    -74.5805
    Latitude
    41.2532

    Nearby Similar for Sale

    • $75,000
      875 SF

      Established Pizzeria/Restaurant Business Opportunity

      Successful restaurant business for sale in Wantage Twp., NJ.
      1214 State Rt 23, Wantage Twp., NJ 07461-3603
      View Details
    • $449,000
      1,752 SF

      Versatile Commercial Property with Live/Work Potential

      Flexible commercial space with storage, parking, and live/work potential.
      160 County Road 565, Wantage Twp., NJ 07461
      View Details
    • $629,999
      5,000 SF

      Renovated Mixed-Use Property For Sale

      Renovated mixed-use property with income potential and 10% CAP.
      1050 State Rt 23, Wantage Twp., NJ 07461
      View Details
    • $600,000
      6,500 SF

      Former Horse Farm Opportunity

      21.26-acre former horse farm with endless possibilities.
      10 Pidgeon Hill Rd, Wantage Twp., NJ 07461
      View Details
    • $525,000
      2,000 SF

      Wantage Twp Auto Shop

      Three-bay garage with lifts and office space for sale.
      168 County Rd 565, Wantage Twp., NJ 07461
      View Details

    FAQs

    What type of property is this?
    Warehouse - Large warehouse on 20+ acres with favorable cap rate.
    Where is this warehouse located?
    The property is located at 35 Rose Morrow Road Wantage Twp, NJ.
    What is the asking price?
    The asking price for this property is $2,900,000.
    What are key features of this property?
    This property features: Favorable Cap Rate; Large Warehouse: **Over 50,000 sq ft on 20+ acres**; Existing Tenant: Lease in place until 2029 with 3% annual increases
    (973) 293-0085
    We can help!
    Listing Contact
    JOSEPH KRUMPFER
    JOSEPH KRUMPFER
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!