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 Market237
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
Listed By:
Elaine Shetler-Libent · License #RS313916
(412) 831-3800
Source:
Nelsonrealtypa
Added: Jan 25
Changed: Sep 17
Last Checked: Sep 18 at 12:41PM
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
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,195
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$383,900
$383.9K
Cap Rate 7%
$274,214
$274.2K
Cap Rate 9%
$213,278
$213.3K
Market Conditions
NOI Build-Up for 1,728 SF
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
