Gbolahan Olabode, 45, was shot outside his home in the unit block of Owen Avenue around 8:10 p.m. on Wednesday.
Officers on the scene say Olabode was shot multiple times. He was rushed to the hospital where he was pronounced dead.
Investigators say there were multiple gunmen, but a motive for the killing has not been determined.
There was no description available of the suspects.
Police say Olabode owned businesses in several locations outside of Lansdowne.
Anyone with information is asked to contact Lansdowne Police Detective Division (610) 623-0700 or the Delaware County CID Homicide Unit (610) 891-4700.