By Makayla Richardson | Portal Realty Agent

In the heart of Gainesville’s bustling downtown, just steps from the University of Florida, a major real estate transaction has officially closed. The iconic Gainesville Lodge, located at 413 West University Avenue, has been sold—marking yet another milestone for Portal Realty and the city’s growing commercial momentum.

This .67-acre property, boasting over 14,000 square feet of motel space, sits on one of Gainesville’s most high-traffic corridors, making it a rare and valuable asset for any investor or developer eyeing downtown revitalization. While the final sale price remains confidential, sources confirm it closed for multi-millions, reflecting the property’s premier location and potential.

At the helm of this deal was Teresa Callen, a leading agent on the Portal Realty team, whose direct relationship and deep understanding of the market helped bring this high-profile transaction to the finish line.

“This deal exemplifies what Portal is about—strategic vision, local relationships, and long-term impact,” said Callen. “The Gainesville Lodge has served this community for decades, and we’re excited to see what the next chapter brings to this corner of downtown.”

With a location nestled between innovation, academia, and nightlife, the possibilities for the site are endless—whether it be adaptive reuse, boutique redevelopment, or a new mixed-use concept that caters to Gainesville’s evolving urban energy.

Your Property Could Be Next

As demand for central Gainesville real estate grows, opportunities like this are becoming harder to come by. If you’re considering selling or reimagining your property, the Portal team is here to help navigate the process.