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    Property profile & analytics

    1514 Progress Dr Albion, IN 46701

    • Manufacturing properties
    • 59,200 SF
    • 5.00 lot acres
    For Lease
    View listing
    $3 SF/Yr
    Value Estimation
    $765,000
    Location Intelligence
    Property ID
    US31-1316754
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Manufacturing properties

    Property Details for 1514 Progress Dr

    Year built
    1994
    Construction
    WOOD
    Lot size
    5.00 lot acres
    Property size
    59,200 SF
    Property type
    Manufacturing properties
    APN
    57-12-20-400-005.000-022
    APU
    571220400005000022

    Description

    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).

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $790,000

    • CAP approach

      CAP return
      Estimation
      6%
      $780,000
      6.5%
      $805,000
      7%
      $800,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $790,000
      Geo Method
      $685,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $860,000
      Retail
      $940,000
      Mixed-Use
      $805,000
      Hospitality
      $920,000
      Educational
      $795,000
      Residential Income
      $845,000
      Energy
      $815,000
      Income-Based Land
      $715,000
      Food Service
      $800,000

    Location Insight

    • Map
    • Local Demand
    City
    Albion
    County
    Noble
    State
    Indiana
    Longitude
    -85.4018
    Latitude
    41.3927
    CBSA code
    28340
    CBSA name
    KENDALLVILLE, IN MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $19,918
    $68,600
    $847,100
    $915,700
    -
    $68,600
    $847,100
    $915,700

    Comparable in this City

    • Value Estimation
      $820,000
      71,474 SF

      1132 Park Dr

      MANUFACTURING (LIGHT) • 71,474 SF
      1132 Park Dr, Albion, IN 46701
      View Details
    • Value Estimation
      $825,000
      67,767 SF

      1612 Progress Dr

      MANUFACTURING (LIGHT) • 67,767 SF
      1612 Progress Dr, Albion, IN 46701-1494
      View Details
    • Value Estimation by Request
      14,720 SF

      1545 State Rd 8th 8

      MANUFACTURING (LIGHT) • 14,720 SF
      1545 State Rd 8th 8, Albion, IN 46701
      View Details
    • Value Estimation by Request
      22,060 SF

      3903 State Rd 9th 9

      MANUFACTURING (LIGHT) • 22,060 SF
      3903 State Rd 9th 9, Albion, IN 46701-9634
      View Details
    • Value Estimation
      $615,000
      42,750 SF

      71 400th S

      MANUFACTURING (LIGHT) • 42,750 SF
      71 400th S, Albion, IN 46701-9229
      View Details
    • Value Estimation by Request
      10,240 SF

      1563 150th E

      MANUFACTURING (LIGHT) • 10,240 SF
      1563 150th E, Albion, IN 46701-9712
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      59,200 SF

      Albion Industrial Warehouse For Sale

      59,200 SF Warehouse, Immediate Occupancy
      1514 Progress Dr, Albion, IN 46701
      View Details
    • $1,225,000
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    • $572,000
      0.40 Acres

      Remodeled Mixed-Use Building with Apartment

      Completely remodeled mixed-use building with office space and residential apartment.
      111 W Hazel St, Albion, IN 46701
      View Details
    • $119,000
      0.03 Acres

      Charming Updated Commercial Property

      Turn-key brick building with modern updates and business potential.
      118 E Main St, Albion, IN 46701
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    • $239,900
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      12 Acres of Tillable Land

      12 acres of tillable land in Noble County, Indiana.
      S 50 W, Albion, IN 46701
      View Details
    • $668,160
      55.68 Acres

      Noble County Agricultural Land

      55.68 acres in Noble County with frontage on 125 N.
      0000 E 125 N, Albion, IN 46701
      View Details

    Similar Nearby for Lease

    • $3 SF/Yr
      59,200 SF

      Albion, IN Industrial Warehouse

      59,200 SF Warehouse, Albion, IN
      1514 Progress Dr, Albion, IN 46701
      View Details
    • $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
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    Albion, IN 46701
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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
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