"Mohamed's restaurant is good."
Translation:مَطْعَم مُحَمَّد طَيِّب.
Exactly, ‘طيّب’ is used when you want to say that the food is "tasty", yet there is a better word that can be used if you want to learn MSA which is "lad'eed'-لذيذ". Still, you can also use ‘جيّد’ with food but it would mean that the food is "okay".
PS: ‘طيّب’ can also be used to describe humans as being kind, so you would say ’هو رجلٌ طيّب‘ meaning "he is a kind/good man."