48 Main Street

Penetanguishene Penetanguishene L9M 1S8

The very popular and well-known Phil's Family Restaurant, including the real estate, is now available in the heart of downtown Penetanguishene. This established restaurant occupies 1,600sq ft and is licensed for 70 seats, with a full commercial kitchen featuring an 11-ft hood, two walk-in coolers (1 + 1), and 400-amp electrical service. The business enjoys excellent sales and strong, consistent income, making it a proven operation with a long-standing reputation in the community. The property also includes six fully tenanted residential apartments located above the restaurant, bringing the total building size to approximately 4,400 sq ft across two floors. The 6 residential units provide steady rental income that supports both the business and the overall investment, creating a rare opportunity to acquire a restaurant with built-in income-producing real estate. This is an ideal opportunity for owner-operators or investors seeking a well-established restaurant paired with reliable residential income. Training will be provided to ensure a smooth transition for new ownership. Please do not go direct or speak to staff.