Urban industrial land (UIL), which is classified for industrial purposes, is an indispensable component of urban land. Obtaining up-to-date and timely UIL details from the industrial development perspective has practical significance for UIL planning. Therefore, we propose a practical method for integrating UIL identification and use efficiency evaluation at the parcel scale based on multi-source data. The Open Street Map (OSM) data were utilized to generate parcels, which served as basic analytical units. Point of Interest (POI) data combined with a Continuous Bag-of-Words (CBoW)-based Word2Vec model was utilized to acquire UIL information. The entropy-weight Technique for Order Preference by Similarity to Ideal Solution method, combined with economic and environmental UIL indicators obtained from remote sensing images, ground observation data, and statistical data, was used to evaluate UIL use efficiency, and the spatial distribution and utilization degree of UIL within Beijing’s fifth ring road was analyzed. The region within Beijing’s fifth ring road was classified into commercial land, industrial land, and other types, with an overall accuracy of 92.24%. With this method, we found that the distribution of UIL presented a ring structure developing outwards along the ring roads and contained concentrated commercial areas. UIL utilization exhibited a south–north differentiation, and industrial land had lower use efficiency. Our work fully utilized the available fine-scale multi-source data.