Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Shippenville Retail Corner Lot Title is generated by Realmo AI

    303 Main Street, Shippenville, PA 16254

    View on Map
    Claim this Listing
    For Sale
    $250,000

    Retail - Shippenville, PA

    Type:Retail
    Property size:
    1,728 SF
    Lot size:
    1.00 Acre
    Price / SF:
    $144/SF
    Added:
    Jan 25, 2026
    Days on Market:
    117
    Last Refresh:
    May 22 at 6:06 pm

    Property Features for 303 Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Zoning
    C1 R1
    Parking
    20
    Standard status
    Active
    Size
    1,728 SF
    Lot size
    1.00 Acre

    Taxes and HOA fees

    Tax Annual Amount
    2000

    Building Details

    Year built
    1920
    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Elaine Shetler-Libent

    Listing agent Elaine Shetler-Libent License #RS313916

    Listing office KELLER WILLIAMS REALTY 1500 Oxford Drive, Bethel Park, PA

    Listing date Jan 25, 2026

    MLS# 1738126 Listing URL

    Copyright © 2026 West Penn Multi List, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High‑visibility ONE ACRE corner lot at the intersection of PA‑208 & US‑322.
    • High traffic counts: Up to ~8,600 vehicles/day on US‑322 and ~3,000 vehicles/day on PA‑208.
    • Includes a separate, currently rented, 3‑bedroom, 1‑bath residence for immediate income.
    • Large gravel parking area for 20 cars plus ample on‑street parking.
    • Formerly a grocery store, ideal for retail, service business, franchise, or redevelopment.
    • Alley access provides additional flexibility for commercial building development.

    Overview

    This one-acre corner lot in Shippenville, PA, offers high visibility at the intersection of PA-208 and US-322. PennDOT reports annual average daily traffic (AADT) of approximately 8,600 vehicles per day on US-322 and 3,000 vehicles per day on PA-208. Specifically, US Route 322 sees about 8,600 vehicles per day just east of Shippenville towards Clarion and around 3,600 vehicles per day just west of Shippenville towards Knox. PA Route 208 experiences roughly 3,000 vehicles per day approaching Shippenville from the west and about 2,700 vehicles per day north of town after splitting from US-322. Formerly a grocery store, this commercial parcel is located in town. Adjacent to the corner lot is a separate 3-bedroom, 1-full bath residence that is currently rented, providing immediate income potential or flexible on-site use. The property includes a large gravel parking area accommodating approximately 20 cars, along with ample on-street parking. Alley access enhances flexibility for commercial building development. The existing grocery store building is 1728 square feet. This property is suitable for a retail user, service business, franchise concept, or redevelopment in a prime location.

    Financial Insights

    Value Estimation Calculated for Specialty Retail

    Conservative
    $213.3K
    NOI $19,195 @ 9.00% cap · cautious / downside scenario
    Moderate
    $274.2K
    NOI $19,195 @ 7.00% cap · market / base-case scenario
    Aggressive
    $383.9K
    NOI $19,195 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Specialty Retail

    Component $ $/SF
    Gross rent $27.6k $15.96
    − Vacancy −$2.0k −$1.15
    EGI $25.6k $14.81
    − OpEx −$6.4k −$3.70
    NOI $19.2k $11.11
    1,728 SF · lease $15.96/SF/yr · vacancy 7.20% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Specialty Retail
    $274.2K
    $239.9K – $319.9K (±1% cap)
    NOI $19,195 @ 7.0% cap · market cap 7.68%
    Second Best
    Retail
    $209.8K
    $183.6K – $244.8K (±1% cap)
    NOI $14,689 @ 7.0% cap · market cap 5.88%
    Theoretical Best
    Office A
    $305.7K
    $267.5K – $356.7K (±1% cap)
    NOI $21,400 @ 7.0% cap · market cap 8.56%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

    Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Auto Parts Store Kitchen & Bath Showroom Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Shippenville
    County
    Clarion
    State
    Pennsylvania
    Longitude
    -79.463369
    Latitude
    41.250862

    FAQs

    What type of property is this?
    Grocery and convenience store - High-visibility corner lot with income potential in Shippenville, PA.
    Where is this grocery and convenience store located?
    The property is located at 303 Main Street Shippenville, PA.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: High‑visibility ONE ACRE corner lot at the intersection of PA‑208 & US‑322.; High traffic counts: Up to ~8,600 vehicles/day on US‑322 and ~3,000 vehicles/day on PA‑208.; Includes a separate, currently rented, 3‑bedroom, 1‑bath residence for immediate income.
    (412) 831-3800
    We can help!
    Listing Contact
    Elaine Shetler-Libent
    Real Estate License ID: RS313916
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    303 Main Street, Shippenville, PA 16254
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!