As near as I can tell, I believe that's the last remaining Monon structure in New Albany, or Louisville. This structure is actually very close to the old Pennsy / current Louisville & Indiana RR lift bridge. Is that a holdover from when the Monon crossed into Louisville from Jeffersonville? Did they have a freight house at Youngtown Yard also?
Here are some links that might shed some light on the location.
Google Maps:
https://www.google.com/maps/@38.2605101,-85.7727033,216m/data=!3m1!1e3Historic Aerials
http://www.historicaerials.com/This is just the general url, but if you search for Louisville, KY, they have some images from 1949 that show an additional structure along one side.
Finally, Bygone Places Along the Monon
http://www.monon.monon.org/bygone/louisville.htmlHas several pictures of the Louisville Freight House. They also indicate there was a freight house at Youngtown Yard, but I believe that is just the same Louisville freight house but the picture is taken from the back side of the structures.
Steve