Corner Former Grocery
For Sale
$250,000
303 Main Street, Shippenville, PA 16254
CommercialSale, Shippenville, PA
Property Size1,728 SF
Lot Size1.00 Acre
Price / SF$144.68
Days on Market229
Property Features for 303 Main Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
C1 R1
Zoning description
C1 R1
Parking
20
Directions
On the corner of 208 and 322
Subdivision
Shippenville
Standard status
Active
Lot size
1.00 Acre
Taxes and HOA fees
Tax Annual Amount
2000
Amenities
alley access
Building Details
Year built
1920
Listing Agency:
KELLER WILLIAMS REALTY
(412) 831-3800
Listed By:
Elaine Shetler-Libent · License #RS313916
(724) 681-0412
Added: Jan 25
Changed: Sep 9
Last Checked: Sep 11 at 3:06AM
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.
Investment Insights
Based on property information with market context.
This one-acre commercial property includes a 1,728-square-foot building formerly used as the Shippenville Red & White grocery store. The corner parcel has a gravel parking area for 20 cars, additional on-street parking, and alley access. Zoning is C1 R1, and the building dates to 1920.
A separate next-door residence with three bedrooms and one full bath is currently rented. The property occupies the intersection of PA-208 and US-322. Reported traffic volumes reach up to ~8,600 vehicles/day on US-322 east of Shippenville, ~3,600 vehicles/day west of town, and ~3,000 vehicles/day on PA-208 approaching from the west.
A separate next-door residence with three bedrooms and one full bath is currently rented. The property occupies the intersection of PA-208 and US-322. Reported traffic volumes reach up to ~8,600 vehicles/day on US-322 east of Shippenville, ~3,600 vehicles/day west of town, and ~3,000 vehicles/day on PA-208 approaching from the west.
Key Highlights
- One‑acre corner parcel at PA‑208 and US‑322
- 1,728‑square‑foot former grocery store building
- Separate rented residence with 3 bedrooms and 1 full bath
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
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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
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Commercial site with a separate rented residence, gravel parking, and alley access.
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: One‑acre corner parcel at PA‑208 and US‑322; 1,728‑square‑foot former grocery store building; Separate rented residence with 3 bedrooms and 1 full bath
