The incident happened at Tienda Hispana Mi Barrio II on Western Boulevard near Clanton Street.
Jose Jimenez, the owner's nephew, says his uncle shot a suspect who was trying to rob his store. Two other suspects fled the scene.
According to the owner, he observed three Hispanic males enter the store. He said they appeared suspicious so he watched them closely. A female employee was also in the store at the time, but there were no customers.
At least two of the suspects had guns and one of them pointed a handgun towards the clerk.
The clerk and one of the suspects fired at least one shot each. One suspect was struck and died at the scene.
Raleigh Police say the incident is a death investigation and they are looking for the other suspects.