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.
Full Property Details
General
Business Type
Restaurant
Retail Area
1600.00 Sq Ft
Office Area
4400.00 Sq Ft
Total Area
6000.00 Square Feet
Sprinklers
No
Drive-In Level Shipping Doors
-
Double Man Shipping Doors
-
Grade Level Shipping Doors
-
Truck Level Shipping Doors
-
Business Type
Restaurant
Retail Area
1600.00 Sq Ft
Office Area
4400.00 Sq Ft
Total Area
6000.00 Square Feet
Sprinklers
No
Drive-In Level Shipping Doors
-
Double Man Shipping Doors
-
Grade Level Shipping Doors
-
Truck Level Shipping Doors
-
Interior
Washrooms
10
Heating Fuel
Gas Forced Air Closed
Air Conditioning
Yes
Washrooms
10
Heating Fuel
Gas Forced Air Closed
Air Conditioning
Yes
Exterior
Depth
207.84
Front
77.0
Lot Size
77 x 207.84 ft
Parking Spaces
-
Total Parking Spaces
-
Parking Description
Outside/Surface
Garage Spaces
-
Zoning
Business Commercial
Depth
207.84
Front
77.0
Lot Size
77 x 207.84 ft
Parking Spaces
-
Total Parking Spaces
-
Parking Description
Outside/Surface
Garage Spaces
-
Zoning
Business Commercial
Building Description
Home Type
Commercial
Subtype
Sale Of Business
Sewers
Sanitary+Storm
Water Supply
Municipal
Possession Date
No Data
Home Type
Commercial
Subtype
Sale Of Business
Sewers
Sanitary+Storm
Water Supply
Municipal
Possession Date
No Data
Community
Community
Penetanguishene
Community
Penetanguishene
Taxes & Fees
Taxes
$7,800 /yr
Tax Year
2025
Occupancy
Tenant
Taxes
$7,800 /yr
Tax Year
2025
Occupancy
Tenant
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