Corner Grocery Store
For Sale
$250,000
303 Main Street, Shippenville, PA 16254
Former grocery space with customer parking, street access, and an adjacent rented residence.
Property Size1,728 SF
Lot Size1.00 Acre
Price / SF$144.68
Days on Market191
Property Features for 303 Main Street
General Information
Standard status
Active
Size
1,728 SF
Total Parking Spaces
20
Lot size
1.00 Acre
Property subtype
Retail
Site & Location
Corner Location
Yes
Highway Access
Yes
Road Access
Yes
Additional Details
Land Use
commercial, residential
Taxes and HOA fees
Annual Taxes
$2,000
Building Details
Year Built
1920
Buildings
1
Listing Agency:
KELLER WILLIAMS REALTY
(412) 831-3800
Listed By:
Elaine Shetler-Libent · License #RS313916
(412) 831-3800
Source:
Nelsonrealtypa
Added: Jan 25
Changed: Aug 3
Last Checked: Aug 4 at 8:20AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KELLER WILLIAMS REALTY
Investment Insights
Based on property information with market context.
This commercial property includes a 1,728-square-foot former grocery store on a one-acre corner parcel at PA-208 and US-322. The site provides a 20-car gravel parking area, additional on-street parking, and alley access that supports customer circulation, deliveries, and future building access. The commercial improvements date to 1920.
A separate three-bedroom, one-bath residence is located next door and is currently rented. Traffic counts reported for the surrounding routes include approximately 8,600 vehicles per day on US-322 near the site and approximately 3,000 vehicles per day on PA-208 approaching Shippenville. The property combines an existing commercial building, a residential component, and a highly accessible corner setting.
A separate three-bedroom, one-bath residence is located next door and is currently rented. Traffic counts reported for the surrounding routes include approximately 8,600 vehicles per day on US-322 near the site and approximately 3,000 vehicles per day on PA-208 approaching Shippenville. The property combines an existing commercial building, a residential component, and a highly accessible corner setting.
Key Highlights
- 1,728‑square‑foot former grocery store on a one‑acre parcel
- Corner location at PA‑208 and US‑322
- PennDOT AADT up to approximately 8,600 vehicles/day on US‑322
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
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.
| 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 Uses
Best Use
Specialty Retail
$274.2K
$239.9K – $319.9K
NOI $19,195 @ 7.0% cap · market cap 7.68%
Second Best
Retail
$209.8K
$183.6K – $244.8K
NOI $14,689 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$305.7K
$267.5K – $356.7K
NOI $21,400 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 16254, PA
3,174
Population
1,551
Households
2
Avg Household Size
47
Median Age
24%
College-Educated
91%
High-School Grad
47.2 sq mi
ZIP Area
67
Density / Sq Mi
$57,250
Median Household Income
$36,719
Median Earnings
$933
Median Rent
$155,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Former grocery space with customer parking, street access, and an adjacent rented residence.
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: 1,728‑square‑foot former grocery store on a one‑acre parcel; Corner location at PA‑208 and US‑322; PennDOT AADT up to approximately 8,600 vehicles/day on US‑322
