4938 COMMONWEALTH, SARASOTA, FL 34242

$2,900,000 Was $3,050,000

Beds: 4

Baths: 3 Full / 1 Half

Sq. Ft.: 2,169 Sq. Ft.

Year Built: 1984

Lot Size: 0.17 Acres

Garage: 2

Pool: Yes

DOM: 28

Property Overview

Status: Active

Property Type: Residential

MLS #: 07366643c6077d485beda96ae9868920

Subdivision: SIESTA BEACH

County: Sarasota

HOA Fee: N/A

Year Built: 1984

Construction: Concrete, Stucco, Wood Frame (FSC Certified)

Foundation: Slab, Stilt/On Piling

Roof: Shingle

Cooling: Central Air

Heating: Central, Electric

Sewer: Public Sewer

Water Source: Public

Zoning: RSF2

Tax Amount: $12,149.85 (2025)

Listed On: Feb 24, 2026

Description

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.

Exterior Features

Garden, Irrigation System, Lighting, Permeable Paving

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.

School Information

Elementary: Phillippi Shores Elementary

Middle: Brookside Middle

High: Sarasota High

Location

Get Directions View on Google Maps

Mortgage Estimator

*Estimate includes Principal & Interest (P&I) only. It does not include taxes, insurance, HOA fees, or PMI. Rates and payments may vary. Consult a lender for accurate figures.

Listing Information

Provided Courtesy of:

MICHAEL SAUNDERS & COMPANY

Listing Agent: Maurice Menager

Information is deemed reliable but not guaranteed. Information provided is 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.

Data last updated: April 2, 2026, 12:48 pm UTC

MLS Source: Stellar MLS Copyright © 2026

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