Compared with the conventional building, the industrialized building (IB) promotes the sustainable development of the construction industry, which will become a growth trend in the future. Nevertheless, the progress of industrialized building is intimately affected through the scientific evaluating mechanism, which still requires more research. Thus, this study establishes a conceptual framework of industrialized building assessment (IBA), which is validated through exploratory factor analysis (EFA) and confirmatory factor analysis (CFA). The impact between efficiency and the other five dimensions are studied by the structural equations model (SEM). The findings indicated that the conceptual framework is valid, and the efficiency has a positive impact on economic factors, livability, safety, environmental factors, and social benefits. Consequently, the improvement of efficiency has turned out to be the primary issue for improving the growth of the industrialized building. This research explores the basic framework of industrialized building assessment and provides a basis to establish a comprehensive and precise industrial building evaluation mechanism in the near future.