5-Unit Furnished Short-Term Rental
For Sale
$2,099,000
10609 Parkhill Circle, Panama City Beach, FL 32407
Five individually styled units are fully furnished and have private entrances, with the Gulf a short walk away.
Property Size6,856 SF
Price / SF$306.16
Days on Market559
Property Features for 10609 Parkhill Circle
General Information
Standard status
Active
Size
6,856 SF
Property subtype
Triplex
Additional Details
Furnished
Yes
Multifamily Units
5
Building Details
Building Size
6,856 SF
Year Built
2020
Buildings
2
Listing Agency:
Counts Real Estate Group Inc
Listed By:
Kristen Counts Barr · License #3248132
(850) 832-3728
Source:
Inletbeachre
Added: Apr 21, 2025
Changed: Oct 27
Last Checked: Oct 31 at 4:33PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Counts Real Estate Group Inc
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Investment Insights
Based on property information with market context.
This five-unit short-term rental property combines a triplex and duplex offered together. Built in 2020, the triplex has 9 bedrooms and 9 bathrooms across three units with more than 4,000 square feet. The duplex adds two units with 4 bedrooms, 6 bathrooms, and 2,800 square feet. All five units are furnished and equipped, and each has its own design theme and private entrance.
The property is in Panama City Beach, with the Gulf a short walk away. Dining, shopping, and entertainment are described as minutes away. Plans are in place to add a 3-bedroom townhouse on the west side of the lot; this is a planned addition, not an existing unit.
The property is in Panama City Beach, with the Gulf a short walk away. Dining, shopping, and entertainment are described as minutes away. Plans are in place to add a 3-bedroom townhouse on the west side of the lot; this is a planned addition, not an existing unit.
Key Highlights
- Five furnished units: a triplex and duplex offered together
- Triplex built in 2020, with 9 bedrooms, 9 bathrooms, and more than 4,000 square feet
- Duplex has 4 bedrooms, 6 bathrooms, and 2,800 square feet
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.
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
870
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Short term rental property - Five individually styled units are fully furnished and have private entrances, with the Gulf a short walk away.
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 $2,099,000.
What are key features of this property?
This property features: Five furnished units: a triplex and duplex offered together; Triplex built in 2020, with 9 bedrooms, 9 bathrooms, and more than 4,000 square feet; Duplex has 4 bedrooms, 6 bathrooms, and 2,800 square feet
