Building Details

Year built 1920

Building materials Brick

Listing Agency: KELLER WILLIAMS REALTY c***@kw.com

Listed By: Elaine Shetler-Libent · License #RS313916 Show Phone

Added: Jan 25 Changed: Oct 8 Last Checked: Oct 26 at 7:06AM

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MLS# 1738126

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.

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Investment Insights

Based on property information with market context.

The property includes a 1,728-square-foot brick grocery store built in 1920, together with a separate residence next door. The home has three bedrooms and one full bath and is currently rented. The one-acre parcel is zoned C1 R1 and includes a gravel parking area with space for 20 cars, additional on-street parking, and alley access.

The corner site sits at PA-208 and US-322 in Shippenville. Reported PennDOT AADT is approximately 8,600 vehicles per day on US-322 east of town and 3,000 vehicles per day on PA-208 approaching from the west.

Key Highlights

• 1‑acre corner parcel at PA‑208 and US‑322
• 1,728‑square‑foot brick grocery store; built in 1920
• Separate rented residence with 3 bedrooms and 1 full bath

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$19,195

Cap Rate

7.68%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$383,900 $383.9K

Cap Rate 7%

$274,214 $274.2K

Cap Rate 9%

$213,278 $213.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,728 SF

Gross rent

$27.6K $15.96/SF

− Vacancy

−$2.0K −$1.15/SF

EGI

$25.6K $14.81/SF

− OpEx

−$6.4K −$3.70/SF

NOI

$19.2K $11.11/SF

Area

Clarion County, PA

Vacancy

7.20%

Lease Rate

$15.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$383,900

Cap Rate 7%

$274,214

Cap Rate 9%

$213,278

Alternative Uses

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 authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Grocery and convenience stores

Suggested Use

Top Pick Building Supply Plumbing Service Real Estate Agency (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

61

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

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Frequently Asked Questions

What type of property is this?

Grocery and convenience store - A separate rented residence beside the store provides an additional property component.

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‑acre corner parcel at PA‑208 and US‑322; 1,728‑square‑foot brick grocery store; built in 1920; Separate rented residence with 3 bedrooms and 1 full bath