$2,695,000
4938 Commonwealth Drive
Sarasota, FL 34242
Property type
Year built
Lot size
Price / sq ft
HOA dues
Days on market
Garage spaces
Flood zone
About this home
Experience the pinnacle of waterfront luxury on Siesta Key’s prestigious Grand Canal. This meticulously reimagined residence at 4938 Commonwealth Drive offers a rare blend of modern sophistication, structural integrity, and complete peace of mind. Extensively transformed both structurally and aesthetically, the home welcomes you into an expansive open-concept design filled with natural light. The newly expanded kitchen serves as the heart of the home, offering abundant cabinetry and storage, a double oven, generous pantry storage, striking custom beam detail, an open breakfast bar, and direct access to the wraparound decking—creating seamless indoor-outdoor living and effortless entertaining. A stylish powder room has also been thoughtfully added. New hurricane-impact windows and sliding glass doors frame the interiors, while designer flooring flows beautifully throughout both levels. Major system upgrades elevate the home’s value and efficiency, including a brand-new roof and a comprehensive solar power system with battery storage. A fresh, contemporary interior palette enhances the clean architectural lines and airy coastal feel. The lower level adds over 1,300 square feet of legal non-conforming living space with its own private entry, garage access, and elevator connection to the main living areas, leading directly to the pool deck. Redesigned for modern functionality, this space features a spacious family entertainment area, custom bar, and an additional guest suite with a walk-in closet and full bath—ideal for extended family, guests, or a private retreat. Outdoor living is equally impressive. The private backyard sanctuary showcases a heated pool and spa with a new heater and filtration system, sleek updated decking, professional landscaping, and premium artificial turf for effortless maintenance. For the boating enthusiast, the deep-water dock and boat lift provide direct access to the Intracoastal Waterway and open waters of Sarasota Bay, delivering the ultimate waterfront lifestyle.
Estimated monthly payment
Estimate only. Taxes use the listing's reported amount where available; insurance is a Florida-average estimate. Your actual payment will vary — run a full calculation or talk to a lender.
Price & listing history90 days on market
- Status: ActiveMar 2, 2026
- Listed$3,050,000Mar 2, 2026
- Price reduced$2,695,000
Virtual Tour
Facts & features
- Property type
- Residential
- Sub type
- Single Family Residence
- Status
- Active
- Days on market
- 90
- Subdivision
- Siesta Beach
- County
- Sarasota
- Year built
- 1984
- Living area
- 2,169 sq ft
- Price/sq ft
- $1,243
- Building area
- 4,827 sq ft (Public Records)
- Lot size
- 7,604 sq ft
- Lot category
- 0 to less than 1/4
- Flood zone
- AE (12115C0143G)
- Garage
- 2 spaces
- Pool
- Private pool
- Annual taxes
- $12,150 (2025)
- Parcel #
- 0081070011
- Zoning
- RSF2
- MLS #
- A4683758
Interior Details
- Bedrooms
- 4
- Full bathrooms
- 3
- Half bathrooms
- 1
- Flooring
- Laminate, Tile
- Appliances
- Bar Fridge, Built-In Oven, Convection Oven, Cooktop, Dishwasher, Disposal, Dryer, Electric Water Heater, Microwave, Refrigerator, Washer
- Interior features
- Built-in Features, Cathedral Ceiling(s), Ceiling Fans(s), Eat-in Kitchen, Elevator, High Ceilings, Living Room/Dining Room Combo, Open Floorplan, Primary Bedroom Main Floor, PrimaryBedroom Upstairs, Solid Surface Counters, Split Bedroom, Stone Counters, Thermostat, Vaulted Ceiling(s), Walk-In Closet(s), Window Treatments
- Laundry
- Electric Dryer Hookup, Inside, Laundry Room, Upper Level
- Stories / Levels
- Two
- Direction faces
- East
- Fireplace
- Yes
Heating & Cooling
- Heating
- Central, Electric
- Cooling
- Central Air
Parking
- Garage spaces
- 2
- Attached garage
- Yes
- Parking features
- Garage Door Opener, Golf Cart Parking, Ground Level, Oversized, Parking Pad, Basement
HOA & Financial
- Total monthly fees
- $0/mo
- Total annual fees
- $0
- CDD
- No
- Homestead exemption
- Yes
- Min lease term
- 1 Month
- Listing terms
- Cash, Conventional
- Ownership
- Fee Simple
- Available for lease
- Yes
- Lease restrictions
- Yes
- Additional lease restrictions
- Sarasota County guidelines
Exterior & Construction
- Exterior features
- Garden, Lighting, Permeable Paving
- Construction materials
- Concrete, Stucco, Frame
- Roof
- Shingle
- Foundation
- Slab, Stilt/On Piling
- Pool
- Private pool
- Waterfront
- Yes
- Water access
- Yes
- Water view
- Yes
- Road surface
- Asphalt
Utilities
- Sewer
- Public Sewer
- Water source
- Public
- Utilities
- BB/HS Internet Available, Cable Connected, Electricity Connected, Public, Underground Utilities, Water Connected
Community
- Pets allowed
- Yes
Schools
Letter grades: Florida DOE 2024–25 school grades (Orange, Seminole, Lake, Osceola, Brevard). Assigned schools from the listing agent — verify enrollment with the district.
Room Details
| Room | Level | Dimensions |
|---|---|---|
| Foyer | Second | 12x11 |
| Great Room | Second | 21x30 |
| Kitchen | Second | 10x21 |
| Laundry | Second | 8x8 |
| Primary Bedroom | Second | 13x29 |
| Bedroom 2 | Second | 13x13 |
| Bedroom 3 | Second | 12x13 |
| Bathroom 1 | Second | 9x11 |
| Family Room | First | 19x30 |
| Additional Bedroom | First | 12x26 |
| Foyer | First | 8x12 |
| Balcony/Porch/Lanai | Second | 10x21 |
| Balcony/Porch/Lanai | First | 26x45 |
Listing Details
- Listing date
- 2026-02-24
- On market date
- 2026-03-02
- Original list price
- $3,050,000
- Occupant type
- Owner
- MLS area
- 34242 - Sarasota/Crescent Beach/Siesta Key
- Listing AOR
- Sarasota - Manatee
- Status changed
- 2026-03-02
- Tax legal description
- LOT 17 & TH N 10 FT OF LOT 18 BLK 22 SIESTA BEACH
Flood risk
FEMA Special Flood Hazard Area (1% annual-chance / “100-year” floodplain). Flood insurance is generally required by mortgage lenders.
Source: FEMA flood zone reported on the listing. Confirm current designation at FEMA Flood Map Service Center.
Location
Directions
From the Siesta Key Bridge turn left onto MPR at the Higel light. Turn right on the first Commonwealth Drive after crossing the Grand Canal Bridge. Property down on the right. Vacant lot beside it that can be used for additional road parking.
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Listings courtesy of Stellar MLS as distributed by MLS GRID
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Based on information submitted to the MLS GRID as of May 31, 2026 at 4:06 PM ET. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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