48 Main Street
Penetanguishene, ON
- 10 bath
- 6,000 sqft
- Sale Of Business
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.
Listing Details
- Taxes (2025)
- $7,800
- Listed
- October 27, 2026
Price History
Property
- Lot Size
- 77 x 207.84 Feet
Parking
- Garage
- Outside/Surface
Utilities
- Sewer
- Sanitary+Storm
Location & Legal
- Cross Street
- Main St & Robert St E
- Zoning
- Business Commercial
- Possession
- Flexible
- Occupancy
- Tenant
Commercial
- Business Type
- Restaurant
- Office / Apartment Area
- 4400 Sq Ft
Community
Postal area L9M
- Population
- 16,607
- Private dwellings
- 9,066
- Median age
- 53.2
- Average household size
- 2.3
- Median household income
- $76,000
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Commercial in Penetanguishene · last 12 months
- Median sold price
- $598,500
- Homes sold
- 116
- Median days on market
- 34
- Sale-to-list price
- 95.8%
Based on 116 recorded sales of commercial properties in Penetanguishene over the last 12 months.
Listed by
ROYAL LEPAGE SIGNATURE REALTY
Walk Score
Walk Score is unavailable for this address right now.
Location
Street View
Commercial figures
- Building area
- 6,000 sq ft
- Price per sq ft
- $633.17
- Annual property tax
- $7,800
- Tax per sq ft
- $1.30
Derived from the listing's own figures. Taxes are as reported by the listing brokerage and may be a prior year.
Reita | Assistant
Online
Reita is an automated assistant, not a licensed real estate agent. This listing mentions 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.. I can help you explore neighbourhoods, understand the market, and find our free tools. What are you looking for?