48 Main St is a 10-bathroom business in Penetanguishene, listed for $3,799,000.
1This 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.
2Training will be provided to ensure a smooth transition for new ownership.
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10 Bath Commercial Property in Penetanguishene
About 48 Main Street
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.
Penetanguishene business priced at $3,799,000 — book a tour to see if it fits your search.
Inside 48 Main St
Every detail from the listing, in one place.
Type
Business
Features & systems
Lot & land
Lot size (sqft)
0
Listing & possession
Property class
Sale Of Business
48 Main St Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
For saleListedThis listingMLS® S14120694$3,799,000
Sourced from MLS®. Includes earlier listings of this property on record.
What's it worth?
How 48 Main St Compares to the Penetanguishene Market
Zara compares it with recent sales of similar homes nearby. It's a guide, not an appraisal.
Zara’s estimate
$•,•••,•••
Estimated from city-wide sales. There isn’t enough detail on this listing to rate the price.
Mortgage financing is arranged through Mortgage Squad Advisors. Summitly is the technology platform that powers this site. Estimated values, AI insights, calculator results, and rental projections shown on this page are generated by Summitly and are not provided by, reviewed by, or sourced from TRREB, the MLS®, or the listing brokerage; they are not appraisals or opinions of value. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The Coldwell Banker® name and logo are trademarks of Coldwell Banker Real Estate LLC.
Keep looking near 48 Main St
Homes for sale in Penetanguishene
Every active Penetanguishene MLS® listing, updated all day.
Average days on market48Homes sold in about 48 days on average.
Sale-to-list ratio95.4%On average, homes sold below asking.
Active listings91Homes for sale here right now.
Median vs prior 90 days−7.3%Compared with Apr 30 – Jul 29, 2026: prices down.
Based on 46 sales from Jul 29 – Oct 27, 2026 (37 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
Questions About 48 Main St
How much is 48 Main St listed for?
48 Main St is listed at $3,799,000 (MLS® S14120694). Summitly updates the price as soon as the MLS® record changes.
Has the price of 48 Main St changed?
No — 48 Main St is still listed at its original asking price of $3,799,000.
How many bedrooms and bathrooms does 48 Main St have?
48 Main St has 10 bathrooms. It is a commercial property in Penetanguishene.
How does 48 Main St compare with other homes in Penetanguishene?
Its asking price of $3,799,000 is about 561% above the median sold price in Penetanguishene over the last 90 days, $575,000, across 46 closed sales on the TRREB MLS®. A city median mixes every type and size of home, so the comparable sales on this page are the closer guide.
Has 48 Main St been sold before?
Summitly has no earlier MLS® sale or lease of 48 Main St on record from the last two years. Older records aren't shown under TRREB rules.
Where is 48 Main St?
48 Main St is in Penetanguishene, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 48 Main St been on the market?
48 Main St was listed today (October 27, 2026).
What is the land transfer tax on 48 Main St?
About $81,450 in Ontario land transfer tax at the asking price of $3,799,000. First-time buyers can get up to $4,000 back. Legal fees and other closing costs are extra.
How do I book a viewing of 48 Main St or make an offer?
Select "Book a viewing" on this page and pick a time. A licensed Coldwell Banker Summit Realty, Brokerage agent confirms it with the listing brokerage. When you're ready, your agent prepares the offer with you and submits it to the listing brokerage.
What is the property tax for 48 Main St?
The listing for 48 Main St doesn't publish the annual property tax. The property tax calculator linked at the foot of this page gives an estimate for Penetanguishene.
When was 48 Main St built?
The listing for 48 Main St doesn't publish a year built. A Summitly agent can ask the listing brokerage for it.
