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243 Vergason Avenue Ext 57,100 SF 100% Leased Industrial Building Norwich, CT 06360 For Sale
Investment Highlights
- Fully leased industrial asset with long-term, creditworthy tenants committed through 2030.
- Rare outside storage capability with paved yard space for added operational flexibility.
- Southeast Connecticut industrial market features a low 3.2% vacancy rate and significant rental growth over the past five years.
- Institutional-grade tenancy, including SRS Distribution and American Systems, offering strong financial stability.
- Located in Norwich Industrial Park with immediate access to I-395, Routes 2 and 32, and regional transportation hubs.
- Positioned for seamless regional distribution with proximity to ports, rail, and major New England metros.
Executive Summary
This fully leased, institutional-grade industrial property offers a rare investment opportunity in the heart of Norwich Industrial Park, one of Southeastern Connecticut’s most established and supply-constrained industrial hubs. The asset spans approximately 57,100 square feet on over 10 acres, featuring four loading docks, two drive-in doors, and clear heights ranging from 15 to 24 feet. A valuable outside storage component enhances operational flexibility and long-term tenant appeal.
The property is anchored by creditworthy tenants, including SRS Distribution, a Home Depot-acquired company with a nationwide presence, and American Systems, a federal contractor with long-term defense and cybersecurity contracts. Both tenants are committed through 2030, providing stable cash flow and reduced risk for the next owner.
Strategically positioned with immediate access to I-395, Routes 2 and 32, and proximity to major ports and regional distribution networks, the property ensures seamless connectivity to key New England markets. The Southeast Connecticut industrial market continues to demonstrate strong fundamentals, with a low vacancy rate of 3.2% and rental growth of 32% over the past five years, reinforcing the long-term value of this investment.
The property is anchored by creditworthy tenants, including SRS Distribution, a Home Depot-acquired company with a nationwide presence, and American Systems, a federal contractor with long-term defense and cybersecurity contracts. Both tenants are committed through 2030, providing stable cash flow and reduced risk for the next owner.
Strategically positioned with immediate access to I-395, Routes 2 and 32, and proximity to major ports and regional distribution networks, the property ensures seamless connectivity to key New England markets. The Southeast Connecticut industrial market continues to demonstrate strong fundamentals, with a low vacancy rate of 3.2% and rental growth of 32% over the past five years, reinforcing the long-term value of this investment.
Property Facts
| Sale Type | Investment | No. Stories | 1 |
| Property Type | Industrial | Year Built/Renovated | 1983/2025 |
| Property Subtype | Manufacturing | Parking Ratio | 6.18/1,000 SF |
| Building Class | B | Clear Ceiling Height | 24’ |
| Lot Size | 10.11 AC | No. Dock-High Doors/Loading | 4 |
| Rentable Building Area | 57,100 SF | No. Drive In / Grade-Level Doors | 2 |
| Zoning | BP - Business Park (BP), Enterprise Zone | ||
| Sale Type | Investment |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | B |
| Lot Size | 10.11 AC |
| Rentable Building Area | 57,100 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1983/2025 |
| Parking Ratio | 6.18/1,000 SF |
| Clear Ceiling Height | 24’ |
| No. Dock-High Doors/Loading | 4 |
| No. Drive In / Grade-Level Doors | 2 |
| Zoning | BP - Business Park (BP), Enterprise Zone |
Amenities
- 24 Hour Access
- Mezzanine
- Security System
- Signage
- Air Conditioning
Utilities
- Lighting - Fluorescent
- Gas - Natural
- Water - City
- Sewer - City
- Heating
Somewhat walkable
20/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | NORW-000034-000001-000015 | Improvements Assessment | $1,372,000 |
| Land Assessment | $509,500 | Total Assessment | $1,881,500 |
Property Taxes
Parcel Number
NORW-000034-000001-000015
Land Assessment
$509,500
Improvements Assessment
$1,372,000
Total Assessment
$1,881,500
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243 Vergason Avenue Ext
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