O mercado fica logo ali, entre a farmácia e o banco.

Here, fica comes from the verb ficar, and it means is located, is, or sits in a place.

So:

• O mercado fica logo ali = The market is right over there

This is a very common use of ficar when talking about the location of buildings, stores, neighborhoods, and other places.

Portuguese often uses ficar to talk about where a place is located.

• ser is mainly for identity or essential characteristics
• estar is for states or temporary location
• ficar is very natural for the location of places

So for a building or business, O mercado fica... sounds very normal in Brazilian Portuguese.

You might also hear O mercado está ali, but fica is especially common when giving directions or describing where something is.

Logo ali means something like:

• right there
• just over there
• very close by

In this phrase, logo adds the idea of immediacy or closeness. It makes ali stronger.

So:

• ali = there
• logo ali = right there / just there

Also, Portuguese logo does not mean the English word logo.

Both can mean there, but they often suggest different distances or levels of precision.

A simple way to think about them:

• aqui = here
• aí = there, near you
• ali = there, over there, somewhat specific
• lá = there, farther away or less specific

In real speech, the boundaries are not always strict, but ali often feels more precise than lá.

So logo ali suggests a place that is nearby and easy to point out.

Portuguese uses definite articles much more often than English.

That is why you get:

• o mercado = the market
• a farmácia = the pharmacy
• o banco = the bank

Even when English might sometimes omit the, Portuguese often keeps the article, especially with places that are known in the situation.

The articles also show grammatical gender:

• mercado is masculine
• farmácia is feminine
• banco is masculine

Entre means between, and it is followed here by two specific places:

• a farmácia = the pharmacy
• o banco = the bank

So:

• entre a farmácia e o banco = between the pharmacy and the bank

The articles are used because the speaker means particular, identifiable places.

Also, unlike some other prepositions in Portuguese, entre does not contract with the article here. So you say:

• entre a farmácia
• entre o banco e...

not some shortened form.

Mercado can mean market, but in everyday Brazilian Portuguese it can also refer to a grocery store or even a supermarket, depending on context.

However:

• mercado = market / grocery market / small supermarket
• supermercado = supermarket

So if someone says O mercado fica logo ali, it could easily mean a neighborhood grocery store or supermarket.

The word banco can mean either:

• bank = financial institution
• bench = seat

But in this sentence, it almost certainly means bank, because the sentence is naming businesses or places in town:

• a farmácia
• o banco

That makes between the pharmacy and the bank the natural reading.

The comma separates the more general location from the more specific detail.

• logo ali = a general indication: right there
• entre a farmácia e o banco = a more exact explanation: between the pharmacy and the bank

So the comma helps the sentence flow naturally.

You may sometimes see similar sentences without a comma in informal writing, but the comma works well here because the second part adds extra clarification.

The sentence as given is very natural:

• O mercado fica logo ali, entre a farmácia e o banco.

But Portuguese allows some flexibility.

For example, you could also say:

• O mercado fica entre a farmácia e o banco, logo ali.

That still works, but it sounds slightly different in rhythm and focus. The original version is especially natural when someone is pointing something out first and then giving a more exact location.

Also, logo ali is a common chunk, so learners should try to remember it as a set expression.

A rough English-style approximation is:

oo mehr-KAH-doo FEE-kah LOH-go ah-LEE, EN-tree ah far-MAH-see-ah ee oo BAHN-koo

A few helpful notes:

• fica sounds like FEE-kah
• ali is stressed on the last syllable: ah-LEE
• farmácia is stressed on má: far-MAH-see-ah
• banco has a nasal sound in ban

If you want a more Brazilian-sounding rhythm, the sentence flows with the main stresses on:

merCÁdo FÍca lógo aLÍ, entre a farMÁcia e o BANco