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    1514 Progress Dr Albion, IN 46701

    For Lease
    $3 SF/Yr

    59,200 SF Warehouse, Albion, IN

    Lot size:
    59,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    361
    This exceptional 59,200-square-foot industrial warehouse in Albion, Indiana, presents a significant opportunity. Situated on a 5.89-acre lot at 1514 Progress Dr., this single-tenant property offers immediate occupancy. The building features a pre-engineered steel construction with a standing seam metal roof and 6-inch reinforced concrete floors. High ceilings range from 13 to 20 feet, complemented by full air conditioning and energy-efficient LED lighting. The property includes 4 truck docks and 1 drive-in door, supported by a robust 1,200-amp electric service. Ample parking is provided with 84 spaces. Thirteen ground-mounted HVAC units ensure climate control. The location is strategically advantageous, offering easy access to SR 8 and I-69. The property is versatile and has potential for subdivision. The asking price is available upon request. This well-maintained facility is ideal for a variety of industrial uses. The lease rate is $3.95 per square foot per year (NNN).

    Property Features for 1514 Progress Dr

    General Information

    Property type
    Distribution properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    59,200 SF

    Unit(s) available at that property

    Space
    Size
    59,200 SF
    Rate per SF
    $3

    HighLights

    • Fully air‑conditioned space.
    • High ceilings (13' to 20').
    • 1,200‑amp electrical service.
    • Four truck docks and one drive‑in door.
    • Subdividing possible.
    • Immediate occupancy.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

    Realty agency Building Supply Auto Repair Shop Storage Facility Veterinary Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Albion
    County
    Noble
    State
    Indiana
    Longitude
    -85.4019226
    Latitude
    41.3926095

    Nearby Comparable

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    • Contact for pricing
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    Nearby Similar for Lease

    • $3 SF/Yr
      37,102 SF

      Albion Warehouse: 37,102 SF

      Spacious industrial warehouse, 5.86 acres.
      600 7Th St, Albion, IN 46701
      View Details

    FAQs

    What type of property is this?
    Distribution property - 59,200 SF Warehouse, Albion, IN
    Where is this distribution property located?
    The property is located at 1514 Progress Dr Albion, IN.
    What is the lease rate?
    The lease rate is $3 SF/Yr.
    What are key features of this property?
    This property features: Fully air-conditioned space.; High ceilings (13' to 20').; 1,200-amp electrical service.
    Request Owner's contact information
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    Realmo Value Estimation

    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.

    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.

    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
    1514 Progress Dr Albion, IN 46701
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