Parkyn Parade runs along the Mooloolaba River and serves as the main access corridor for a cluster of boating and waterfront facilities on the Mooloolah River.

The street provides access to boat ramps, trailer parking, and fuel wharves, including commercial fuel suppliers located at various points along the parade.

A Coast Guard station is also situated along Parkyn Parade, and a boat ramp nearby remains open to both recreational boaters and commercial operators.

Just off Parkyn Parade, via Penny Lane, lies Mooloolah River Park (also known as Penny Lane Park), a shaded riverside green space popular for gatherings and a short walk from The Wharf Mooloolaba precinct.