Jose Quinones-Mendez, 42, is facing several charges, including theft, obstruction of justice and tampering with evidence.
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Quinones-Mendez was captured Wednesday night at Juniper and Race streets, authorities say.
Police were tipped off that he was potentially heading to the airport from Race Street, according to Action News sources.
He was also in a car with two other males when he was apprehended, sources say.
A witness told Action News that he saw dozens of officers swarm the vehicle Quinones-Mendez was in when police found him.
"I've never seen that many people run so fast, it was like a herd. Probably 50 or maybe 60 [officers]," the witness said.
Police are now waiting on a search warrant to see if the gun taken from the original crime scene was inside that vehicle.
The shooting the stolen gun is connected to took place around 8:45 p.m. Friday near the 2800 block of North Mascher Street inside the local corner store, Jennifer Tavern.
Investigators say two officers were on routine patrol in the area while also keeping an eye out for a person wanted in a recent non-fatal shooting.
In a newly released video, one of the officers is seen walking into the store, asking if anyone has a gun and checking waistbands.
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WATCH: Full surveillance video of deadly Philadelphia police-involved shooting
WARNING: GRAPHIC CONTENT - VIEWER DISCRETION ADVISED
Officials release new surveillance video of deadly Philadelphia police-involved shooting
The officer then gets to 28-year-old Alexander Spencer and signals to his partner that he is armed.
The two officers and Spencer are seen in a short scuffle on the ground before you hear a shot and see blood coming from the leg of an officer. Police believe Spencer fired that initial shot.
Seconds later, 33-year-old Ofc. Raheem Hall fires at Spencer, killing him, before radioing for backup.
After the shooting, Quinones-Mendez was seen on video grabbing Spencer's gun and fleeing the scene.
A social media video circulating online is also part of the investigation.
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In the video, Spencer can be seen on the ground with officers on top of him moments before two gunshots are heard. The wounded officer's partner can then be seen calling for help over the radio.
New video raises questions about what led to deadly police shooting
The injured officer, who was crouching, suffered four wounds when he was shot by a single bullet, Deputy Commissioner Frank Vanore said.
There is no word yet on the wounded officer's identity.
Action News has reached out to the police department to answer lingering questions on this case, such as what happened in the store before the shooting, whether the "stop and frisk" was justified, and if the officer's actions before the shooting followed protocol. We have not yet heard back.