Furnished Triplex Rental
For Sale
$2,099,000
10609 Parkhill Circle, Panama City Beach, FL 32407
Residential, Panama City Beach, FL
Property Size6,856 SF
Price / SF$306.16
Days on Market539
Property Features for 10609 Parkhill Circle
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
Resid Multi-Family
Bedrooms
13
Bathrooms
15
Full bathrooms
15
Rooms
Bedroom 7, Bathroom 8, Bedroom 4, Bedroom 6, Bathroom 15, Bedroom 1, Bedroom 5, Bedroom 2, Bathroom 7, Bathroom 4, Bathroom 5, Bathroom 9, Bathroom 11, Bathroom 1, Bedroom 10, Living Room, Bedroom 8, Bathroom 14, Bedroom 11, Bathroom 10, Bathroom 6, Bedroom 9, Bathroom 13, Bathroom 12, Bedroom 13, Bathroom 3, Bathroom 2, Bedroom 3, Bedroom 12
Fencing
Fenced
Appliances
ElectricRange, ElectricWaterHeater
Subdivision
No Named Subdivision
Lot features
Paved
Elementary school
Hutchison 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
Electric (Heating)
Cooling system
Ceiling Fan(s)
Building Details
Year built
2020
Floors in Building
2
Roof type
Metal
Listing Agency:
Counts Real Estate Group Inc
(850) 249-3615
Listed By:
Kristen Counts Barr · License #3248132
(850) 832-3728
Added: Apr 21, 2025
Changed: Sep 13
Last Checked: Oct 11 at 8:06PM
MLS# 772255
Copyright © 2026 Central Panhandle 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.
Built in 2020, this furnished triplex includes more than 4,000 square feet arranged across three separate units with 9 bedrooms and 9 bathrooms. Each unit has its own entrance, distinctive interior theme, coastal finishes, and individual exterior door. The accompanying duplex contributes approximately 2,800 square feet across two units, with 4 bedrooms and 6 bathrooms. Together, the buildings provide 6,856 square feet of space and are furnished and equipped for rental use.
The property is located at 10609 Parkhill Circle in Panama City Beach, approximately five doors from the Gulf shoreline and within a short walk of the beach. Public sewer, a metal roof, electric heating, electric water heating, ceiling fans, and fencing are among the recorded property features. Plans are in place for a future three-bedroom townhouse on the west side of the lot.
The property is located at 10609 Parkhill Circle in Panama City Beach, approximately five doors from the Gulf shoreline and within a short walk of the beach. Public sewer, a metal roof, electric heating, electric water heating, ceiling fans, and fencing are among the recorded property features. Plans are in place for a future three-bedroom townhouse on the west side of the lot.
Key Highlights
- 6,856 square feet total property size
- Triplex includes 9 bedrooms and 9 bathrooms across three units
- Adjoining duplex adds 4 bedrooms and 6 bathrooms across two units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,950
Cap Rate
3.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,459,000
$1.5M
Cap Rate 7%
$1,042,143
$1.0M
Cap Rate 9%
$810,556
$810.6K
Market Conditions
NOI Build-Up for 6,856 SF
Gross rent
$111.1K $16.20/SF
− Vacancy
−$6.9K −$1.00/SF
EGI
$104.2K $15.20/SF
− OpEx
−$31.3K −$4.56/SF
NOI
$73.0K $10.64/SF
Area
Bay County, FL
Vacancy
6.17%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,459,000
Cap Rate 7%
$1,042,143
Cap Rate 9%
$810,556
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$911.9K – $1.22M
NOI $72,950 @ 7.0% cap · market cap 3.48%
Second Best
Apartment 5plus
$955.0K
$835.6K – $1.11M
NOI $66,847 @ 7.0% cap · market cap 3.18%
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $139,832 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
5
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit coastal property with an adjoining duplex and fully furnished interiors.
Where is this triplex 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 $2,099,000.
What are key features of this property?
This property features: 6,856 square feet total property size; Triplex includes 9 bedrooms and 9 bathrooms across three units; Adjoining duplex adds 4 bedrooms and 6 bathrooms across two units
