Police say Eric Locke, 31, of West Sterner Street in North Philadelphia, surrendered to police Thursday night, hours after a police bulletin identified Locke as the suspected gunman.
Investigators say Locke ambushed 53-year-old Joel Blumer Saturday morning as Blumer opened up B & R Check Cashing at 26th and Sterner Streets.
Blumer, a married father of two children, was found with gunshot wounds to the neck.
Medics rushed him to Temple University Hospital, where he was pronounced dead.
Police believe robbery was the motive.
Locke will be charged with murder, robbery, and related offenses for his alleged involvement in the murder.