Norwich Textiles 132-176 Franklin St 220,000 SF Vacant Industrial Building Norwich, CT 06360 $10,000,000 ($45.45/SF) 10% Cap Rate

FOR SALE — 132–176 Norwich Avenue, Norwich, CT
Historic Industrial Complex | ±220,000 SF | Opportunity Zone | $10,000,000
Once the home of the Alan & Hopkins Gun Factory and later a prominent textile mill, this roughly 220,000-square-foot industrial campus offers exceptional potential for adaptive reuse or large-scale redevelopment in the heart of downtown Norwich, Connecticut.
Positioned within a federally designated Opportunity Zone, the property provides powerful tax incentives and the rare chance to participate in Norwich’s next chapter of economic revitalization. The City of Norwich is strongly supportive of redevelopment here and has expressed enthusiasm for projects that bring new life, employment, and vibrancy to the area. City leadership has been proactive in working with developers to streamline approvals and encourage creative reuse of this historic asset.
Prime Location & Regional Growth
7-minute drive to Mohegan Sun Casino
10-minute drive to Foxwoods Resort Casino
Directly across from Mohegan Sun’s new 300+ acre master development site, where the Mohegan Tribe has announced plans for a major tourism destination featuring an indoor water park, amusement park, retail centers, hotels, sound stages, and family entertainment venues — a project expected to transform the local economy and drive millions of annual visitors to the region.
20 minutes from Electric Boat (General Dynamics) — one of Connecticut’s largest and most advanced employers. Electric Boat has hired over 10,000 engineers in recent years (average salaries exceeding $200,000/year) and recently acquired land near Norwich for a 400,000+ square-foot manufacturing and logistics facility.
This industrial resurgence has fueled tremendous demand for housing, retail, and hospitality space, particularly in downtown Norwich, where breweries, restaurants, and mixed-use projects are breathing new life into the city’s historic core. The workforce drawn by Electric Boat and other regional employers continues to seek housing and entertainment options close to the city center — just minutes from this site.
Investment Highlights
±220,000 SF across multiple interconnected industrial buildings with flexible configurations
Located in Norwich’s Opportunity Zone — eligible for substantial capital gains tax advantages
Strong municipal support for redevelopment and adaptive reuse
Excellent access to major highways, tourism destinations, and a growing regional employment base
High-value upside from nearby billion-dollar developments by both the Mohegan Tribe and Electric Boat
Situated in a walkable downtown district, surrounded by expanding breweries, restaurants, and creative businesses
Summary
132–176 Norwich Avenue represents a rare opportunity to acquire a property of scale and character at a time when Norwich is experiencing strong momentum from both private investment and public support. Whether envisioned as a mixed-use residential conversion, industrial redevelopment, or creative campus, this property sits at the intersection of historic legacy, strategic location, and regional growth.
An iconic property ready for its next chapter
Full DD available for Qualified buyers