Welcome to your private tropical retreat on Terra Ceia Bay! 5003 Commonwealth Road sits on two 75 foot lots 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.
Single-familyProperty Type
1965Year Built
0.41 acresLot Size
$512Price/Sq.Ft.
2 car garageParking
Listed by Tim Lester• TIM LESTER INTERNAT'L REALTY
The purpose of these districts is to provide for residences in a suburban environment at low to medium densities, to accommodate residential support uses (as defined in; Abandonment shall mean the visible or otherwise apparent intention of an owner to discontinue a structure, use of a structure, or lot; or the removal of the characteristic equipment or furnishings used in the performance of the use without its replacement by similar equipment or furnishings, or the replacement of a nonconforming use or structure by a conforming use or structure; for 6 consecutive months.; and other limited non-residential uses, and to protect these areas from the encroachment of incompatible uses.
Permitted uses
Include but are not limited to:
Housing-Group
Housing-Single unit
Housing-Senior
Infrastructure
Office
Educational/school
Fire house
Police station
Post office
Recreation
Jan 26, 2026 • Final
Aluminum structure
Replace a rear enclosure damaged by Hurricane Milton with a new enclosure of the same size featuring sliding vinyl windbreaker panels.
Remodel
Jan 28, 2025 • Final
Residential roof express
Remove the existing shingle roof and install a new shingle roof.
Roofing
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Climate risks
10/10 Flood Factor
Estimated 80%+ chance of a flood reaching the building in the next 30 years
3/10 Fire Factor
0.15% chance of being in a wildfire in next 30 years
10/10 Heat Factor
7 days above 107° expected this year, 30 days in 30 years
10/10 Wind Factor
99% chance of strong winds in next 30 years
3/10 Air Factor
2 unhealthy days expected this year, 3 days in 30 years
Provided by First Street
Historical weather
Palmetto, FL • 34221
Average low and high temperatures (°F)
68
52
73
57
79
62
84
67
88
74
90
76
90
78
90
78
89
76
84
70
79
63
74
58
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
92/ 100
Exceptional sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
9.4 hrs
6.9 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 5003 Commonwealth Rd
$889,205
$59K under list price of $948K
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $381K to $1.6M.