Capt. Gus's Steak Shop Property Listed for Sale in Lancaster
The 2,700-square-foot site, which includes an attached laundromat, is on the market for $775,000 as current operators exit.
Updated on Oct. 25, 2026 in Openings & Closings
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The 2,700-square-foot Capt. Gus's Steak Shop and its attached laundromat at 600 W. Orange St. in Lancaster have been listed for sale. The 58-year-old business is currently operated by Nick G. Karpouzis and Phyllis Rothweiler.
Why it matters
The sale offers an opportunity for operators to acquire an established local property and ongoing business enterprise as the current owners depart to pursue other careers. The inclusion of the laundromat provides a potential footprint for restaurant expansion for a new owner.
The property is listed at $775,000 for the 2,700-square-foot site, which has been in operation for 58 years. The business is currently supported by a staff of three employees.
The players
Nick G. Karpouzis
The current co-operator of the steak shop who has managed the business for the last six years.
Phyllis Rothweiler
The current co-owner of the steak shop and primary contact for property inquiries.
Gus Karpouzis
The original founder who established the steak shop in 1968.
The details
The current owners are selling the restaurant and attached laundromat as a single package. Nick G. Karpouzis intends to remain through the transition to train a prospective owner. Potential renovation plans mentioned include converting the laundromat space into additional dining area.
Timeline
1968: Capt. Gus's Steak Shop opened.
2012: Founder Gus Karpouzis died.
October 2026: The property was listed for sale.
February 2027: Nick G. Karpouzis turns 60.
Market Landscape
The sale follows the pattern of succession planning trends identified by the U.S. Small Business Administration as retiring owners exit family-run ventures. This transition reflects a typical shift as second-generation operators look to exit long-standing community businesses.
Prospective buyers should evaluate the utility of the attached laundromat as a conversion opportunity to expand dining capacity within the 2,700-square-foot footprint. For inquiries regarding the listing, contact Phyllis Rothweiler at 717-587-8283.
The takeaway
The property represents a turn-key opportunity for operators looking to inherit an existing customer base in a multi-use facility. Interested parties should prioritize reviewing the site's zoning permits and equipment lease agreements before moving forward with the owners.
Further reading
For additional context on shifts in the local commercial real estate market, see Lancaster Openings & Closings.
Source note: This article includes information reported by LancasterOnline.
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