Affine rotation surfaces, which appear in the context of affine differential geometry, are generalizations of surfaces of revolution. These affine rotation surfaces can be classified into three different families: elliptic, hyperbolic and parabolic. In this paper we investigate some properties of algebraic parabolic affine rotation surfaces, i.e. parabolic affine rotation surfaces that are algebraic, generalizing some previous results on algebraic affine rotation surfaces of elliptic type (classical surfaces of revolution) and hyperbolic type (hyperbolic surfaces of revolution). In particular, we characterize these surfaces in terms of the structure of their implicit equation, we describe the structure of the form of highest degree defining an algebraic parabolic affine rotation surface, and we prove that these surfaces can have either one, or two, or infinitely many axes of affine rotation. Additionally, we characterize the surfaces with more than one parabolic axis.