Welcome to your private tropical retreat on Terra Ceia Bay! 5003 Commonwealth Road sits on a rare double lot offering an impressive 150 feet of deep-water frontage along the pristine, shimmering waters of Terra Ceia Bay. This is the kind of setting where palm trees sway, dolphins pass by, and sunsets never get old. Lovingly maintained by the same family since 1965, this 3-bedroom, 3-bath home is filled with character and pride of ownership. With nearly 4,400 square feet under roof, the home provides generous indoor and outdoor living spaces—perfect for entertaining, relaxing, or creating your own coastal compound. The expansive property spans two lots totaling 150 feet of seawall, opening the door to endless possibilities: enjoy it as-is, expand, or reimagine the space into a true waterfront estate. Whether you’re boating, fishing, or simply soaking in the tranquil bay breezes, this is Florida waterfront living at its finest.
For sale
Price cut: $100K (6/9)
$998,000
5003 Commonwealth Rd, Palmetto, FL 34221
3beds
1,851sqft
Single Family Residence
Built in 1965
0.41 Acres Lot
$946,900 Zestimate®
$539/sqft
$-- HOA
What's special
Palm trees swayRare double lot
- 142 days |
- 308 |
- 9 |
Zillow last checked:
Listing updated:
Listed by:
Tim Lester 941-981-5388,
TIM LESTER INTERNAT'L REALTY 941-981-5388
Source: Stellar MLS,MLS#: A4679863
Originating MLS: Sarasota - Manatee
Originating MLS: Sarasota - Manatee
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Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 3
- Full bathrooms: 3
Rooms
- Room types: Bonus Room, Den/Library/Office, Utility Room
Primary bedroom
- Features: Walk-In Closet(s)
- Level: First
- Area: 165 Square Feet
- Dimensions: 11x15
Bedroom 2
- Features: Built-in Closet
- Level: First
- Area: 275 Square Feet
- Dimensions: 11x25
Bedroom 3
- Features: Built-in Closet
- Level: First
- Area: 110 Square Feet
- Dimensions: 10x11
Balcony porch lanai
- Level: First
- Area: 387 Square Feet
- Dimensions: 9x43
Den
- Level: First
- Area: 220 Square Feet
- Dimensions: 11x20
Dining room
- Level: First
- Area: 80 Square Feet
- Dimensions: 8x10
Game room
- Level: First
- Area: 240 Square Feet
- Dimensions: 15x16
Kitchen
- Level: First
- Area: 140 Square Feet
- Dimensions: 10x14
Living room
- Level: First
- Area: 252 Square Feet
- Dimensions: 14x18
Office
- Level: First
- Area: 112 Square Feet
- Dimensions: 8x14
Heating
- Central
Cooling
- Central Air
Appliances
- Included: Dishwasher, Disposal, Dryer, Electric Water Heater, Range, Refrigerator, Washer
- Laundry: Inside, Laundry Room
Features
- Ceiling Fan(s), Eating Space In Kitchen, L Dining, Solid Surface Counters, Walk-In Closet(s)
- Flooring: Carpet, Epoxy, Porcelain Tile
- Windows: Blinds, Window Treatments, Skylight(s), Hurricane Shutters
- Has fireplace: No
Interior area
- Total structure area: 4,390
- Total interior livable area: 1,851 sqft
Video & virtual tour
Property
Parking
- Total spaces: 2
- Parking features: Boat, Driveway, Guest, Oversized, RV Access/Parking
- Attached garage spaces: 2
- Has uncovered spaces: Yes
- Details: Garage Dimensions: 21x34
Features
- Levels: One
- Stories: 1
- Patio & porch: Covered, Enclosed, Rear Porch, Screened
- Exterior features: Irrigation System, Rain Gutters
- Fencing: Chain Link
- Has view: Yes
- View description: Water, Bay/Harbor - Partial, Canal
- Has water view: Yes
- Water view: Water,Bay/Harbor - Partial,Canal
- Waterfront features: Bay/Harbor Front, Waterfront, Canal - Saltwater, Saltwater Canal Access, Bridges - No Fixed Bridges, No Wake Zone, Sailboat Water, Seawall
Lot
- Size: 0.41 Acres
- Features: Cleared, FloodZone, In County, Oversized Lot, Street Dead-End, Unincorporated
Details
- Parcel number: 2223600004
- Zoning: RSF4.5/C
- Special conditions: None
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Ranch
- Property subtype: Single Family Residence
Materials
- Block, Stucco
- Foundation: Slab
- Roof: Shingle
Condition
- Completed
- New construction: No
- Year built: 1965
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Connected, Public, Sprinkler Well, Water Connected
Community & HOA
Community
- Features: Bay/Harbor Front, Community Boat Ramp, Dock, Fishing, Water Access, Waterfront, Dog Park, Golf Carts OK
- Pet fee: $0 monthly
- Subdivision: PALMETTO SKYWAY REP
HOA
- Has HOA: No
- Services included: None
Location
- Region: Palmetto
Financial & listing details
- Price per square foot: $539/sqft
- Tax assessed value: $1,015,861
- Annual tax amount: $4,847
- Date on market: 1/26/2026
- Cumulative days on market: 143 days
- Listing terms: Cash,Conventional,FHA,VA Loan
- Ownership: Fee Simple
- Total actual rent: 0
- Electric utility on property: Yes
- Road surface type: Paved
Estimated market value
$946,900
$900,000 - $994,000
$2,665/mo
Price history
| Date | Event | Price |
|---|---|---|
| 6/9/2026 | Price change | $998,000-9.1%$539/sqft |
Source:  Stellar MLS #A4679863 Report a problem | ||
| 1/26/2026 | Listed for sale | $1,098,000$593/sqft |
Source: Stellar MLS #A4679863 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $5,159 +6.4% | $393,407 +2.9% |
| 2024 | $4,847 +1.1% | $382,320 +3% |
| 2023 | $4,792 +2.6% | $371,184 +3% |
| 2022 | $4,670 -0.2% | $360,373 +3% |
| 2021 | $4,681 +0.9% | $349,877 +1.4% |
| 2020 | $4,640 +1.5% | $345,046 +2.3% |
| 2019 | $4,573 | $337,288 +1.9% |
| 2018 | $4,573 +0.8% | $330,999 +2.1% |
| 2017 | $4,537 +6.5% | $324,191 +2.1% |
| 2016 | $4,262 | $317,523 +0.7% |
| 2015 | $4,262 | $315,316 +0.8% |
| 2014 | $4,262 +0.3% | $312,813 +1.5% |
| 2013 | $4,251 +425018% | $308,190 +1.7% |
| 2012 | $1 | $303,038 +3% |
| 2011 | $1 | $294,212 +1.5% |
| 2010 | -- | $289,864 +2.7% |
| 2009 | $3,865 -3.3% | $282,243 +0.1% |
| 2008 | $3,997 +4.7% | $281,961 +3% |
| 2007 | $3,816 -4.9% | $273,749 +2.5% |
| 2006 | $4,015 +0.1% | $267,072 +3% |
| 2005 | $4,012 +1.8% | $259,293 +3% |
| 2004 | $3,940 +0.3% | $251,741 +1.9% |
| 2003 | $3,927 +2.2% | $247,047 +2.4% |
| 2002 | $3,843 +3.3% | $241,257 +1.6% |
| 2001 | $3,721 +1.3% | $237,458 +3% |
| 2000 | $3,674 | $230,542 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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Climate risks
Neighborhood: 34221
Nearby schools
GreatSchools rating
- 4/10Palm View Elementary SchoolGrades: PK-8Distance: 1.1 mi
- 2/10Palmetto High SchoolGrades: 8-12Distance: 2 mi
A local agent can set up tours, give advice and negotiate with sellers.
- Florida
- Manatee County
- Palmetto
- 34221
- 5003 Commonwealth Rd
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Nearby neighborhoods
Nearby zip codes
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