Triplex and Duplex Short-Term Rental
For Sale
$2,350,000
10609 Parkhill Circle, Panama City Beach, FL 32407
MULTI_FAMILY - Other - Panama City Beach, FL
Property Size6,856 SF
Price / SF$342.77
Days on Market467
Property Features for 10609 Parkhill Circle
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Resid Multi-Family
Bedrooms
13
Bathrooms
15
Full bathrooms
15
Rooms
Bathroom 7, Bedroom 3, Bathroom 15, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 9, Bathroom 11, Bathroom 14, Bedroom 11, Bathroom 5, Bathroom 10, Bedroom 2, Kitchen, Bathroom 13, Bathroom 2, Bedroom 7, Bathroom 8, Bathroom 12, Bedroom 10, Bedroom 8, Bedroom 6, Bathroom 9, Bathroom 6, Bedroom 4, Bedroom 5, Bedroom 12, Bedroom 13, Bathroom 1
Window features
Window Treatments
Interior features
Breakfast Bar, Washer/Dryer Hookup
Exterior features
Fenced Back Yard
Fencing
Back Yard
Appliances
Dishwasher, Dryer, Microwave, Refrigerator, Stove/Oven Electric, Washer, Water Heater - Elect
Subdivision
LONG BEACH 3RD ADDN
Lot features
Survey Available, Within 1/2 Mile to Water
Elementary school
Hutchinson Beach
Middle school
Surfside
High school
Arnold
Directions
From 98, South on Richard Jackson Blvd, Left on Middle Beach Road, Right on Churchwell Drive, Left on Parkhill Circle. Duplex & Triplex will be on your Left.
Standard status
Active
APN
34980-000-000
Size
6,856 SF
Taxes and HOA fees
Tax Description
LONG BEACH 3RD ADD LOTS 3, 4 & 5 BLK 13 ORB 4178 P 807
Legal Description
LONG BEACH 3RD ADD LOTS 3, 4 & 5 BLK 13 ORB 4178 P 807
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2020
Floors in Building
2
Architectural style
Other
Listing Agency:
Counts Real Estate Group Inc
(850) 249-1414
Listed By:
Thomas J Lewis · License #3231512
(850) 896-6939
Added: Apr 24, 2025
Changed: Aug 3
Last Checked: Aug 3 at 3:06PM
MLS# 974700
Copyright © 2026 Emerald Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
A turnkey short-term rental package combining a triplex and a duplex, fully furnished for immediate income use. The triplex was built in 2020 and provides over 4,000 square feet with 9 bedrooms and 9 bathrooms across three individually themed units, each with private entrances. The adjoining duplex adds about 2,800 square feet with 4 bedrooms and 6 bathrooms across two units. Interior amenities include a washer/dryer hookup, and the property is served by central heating and central air. Appliances listed include dishwasher, microwave, refrigerator, electric stove/oven, dryer, washer, and an electric water heater. The exterior features include a fenced back yard.
The package is described as five doors from the shore and positioned for a short walk to the Gulf. It is located near dining, shopping, and entertainment in Panama City Beach.
Plans are in place for a 3-bedroom townhouse to be added on the west side of the lot, supporting future expansion of the property’s rental offerings.
The package is described as five doors from the shore and positioned for a short walk to the Gulf. It is located near dining, shopping, and entertainment in Panama City Beach.
Plans are in place for a 3-bedroom townhouse to be added on the west side of the lot, supporting future expansion of the property’s rental offerings.
Key Highlights
- Triplex and duplex sold together, fully furnished for plug‑and‑play use
- Built in 2020 triplex with over 4,000 SF, 9 bedrooms and 9 bathrooms
- Adjoining duplex about 2,800 SF with 4 bedrooms and 6 bathrooms
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $111.1k | $16.20 |
| − Vacancy | −$6.9k | −$1.00 |
| EGI | $104.2k | $15.20 |
| − OpEx | −$31.3k | −$4.56 |
| NOI | $73.0k | $10.64 |
6,856 SF · lease $16.20/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$911.9K – $1.22M
NOI $72,950 @ 7.0% cap · market cap 3.10%
Second Best
Apartment 5plus
$955.0K
$835.6K – $1.11M
NOI $66,847 @ 7.0% cap · market cap 2.84%
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $139,832 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
870
Businesses Nearby
Explore this area
Business Placement
Demographics for 32407, FL
14,366
Population
12,163
Households
1.2
Avg Household Size
41
Median Age
40%
College-Educated
96%
High-School Grad
14.9 sq mi
ZIP Area
964
Density / Sq Mi
$79,052
Median Household Income
$44,027
Median Earnings
$1,792
Median Rent
$403,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Turnkey, fully furnished short-term rental package featuring a 2020 triplex and duplex with central HVAC and fenced back yard.
Where is this short term rental property located?
The property is located at 10609 Parkhill Circle Panama City Beach, FL.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Triplex and duplex sold together, fully furnished for plug‑and‑play use; Built in 2020 triplex with over 4,000 SF, 9 bedrooms and 9 bathrooms; Adjoining duplex about 2,800 SF with 4 bedrooms and 6 bathrooms
