I just store my backup cart in it's original packaging. I think it's sitting in a drawer at my bedside table.
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If you really want to preserve it for a long time, I would put it into an air-tight container and displace the air w N2 like you said. You could use one of those wine-keeper aerosols or go to a tire dealer who offers N for filling tires. You would probably want to re-fill it every year or 2 since its bound to leak at least a little.
I've used a FoodSaver vac-u-seal machine to seal a cart. in its factory box. Once sealed a syringe needle connected to a hose was used to introduce dry Argon into the sealed bag and then the bag was resealed to close off the hole from the needle. Probably over kill, but it did keep any O2 from the rubber bits in the cart.