Urgent care CEO buys shuttered Burger King in Five Points for coffee shop conversion

Former Burger King property in Denver sold

The former Burger King property in Five Points sold for $1.8 million. (Matthew Geiger photos)

Darius Kerman is used to hiring doctors. Now he needs baristas.

The CEO of the local AFC Urgent Care Denver chain last month paid $1.8 million for the former Burger King property at 3200 N. Downing St. in Five Points, according to property records.

Kerman said he’s hoping to remodel the fast food joint into a coffee shop with a drive-thru component, and is in talks with national chains.

Darius Kerman

Darius Kerman

“I want to have a contract in place in the next few months, for sure this year, and then start with construction,” Kerman said. “Get the permit stuff — that’s a painful, long process; getting the permits that would take, I guess, six months — and then start with construction next year, 2023. And hopefully, (the coffee shop will) be up and running by the end of next year.”

The makeover will be a  “partial demolition,” using as much of the current building as possible, Kerman said.

Archived Google Street View images indicate Burger King closed sometime between November 2019 and November 2020.

The entire property is 14,050 square feet, while the building itself is 2,037 square feet. So, Kerman paid $125 per square foot for the entire lot or $864 per square foot for the building, depending on how one values the property.

The property last sold in 2015 for $1.9 million, records show.

Burger King sign scaled

Archived Google Street View images indicate the Burger King closed sometime between November 2019 and November 2020.

Kerman noted that AFC has a location across the street from the building, and said the purchase is his initial foray into the coffee scene.

“Right now it’s just an experiment,” he said. “It was a property I like. There’s a great opportunity in it. It’s nearby one of my other properties, so it’s easier to manage. I can make a decision in a few years if that’s something I want to pursue more.”

Former Burger King property in Denver sold

The former Burger King property in Five Points sold for $1.8 million. (Matthew Geiger photos)

Darius Kerman is used to hiring doctors. Now he needs baristas.

The CEO of the local AFC Urgent Care Denver chain last month paid $1.8 million for the former Burger King property at 3200 N. Downing St. in Five Points, according to property records.

Kerman said he’s hoping to remodel the fast food joint into a coffee shop with a drive-thru component, and is in talks with national chains.

Darius Kerman

Darius Kerman

“I want to have a contract in place in the next few months, for sure this year, and then start with construction,” Kerman said. “Get the permit stuff — that’s a painful, long process; getting the permits that would take, I guess, six months — and then start with construction next year, 2023. And hopefully, (the coffee shop will) be up and running by the end of next year.”

The makeover will be a  “partial demolition,” using as much of the current building as possible, Kerman said.

Archived Google Street View images indicate Burger King closed sometime between November 2019 and November 2020.

The entire property is 14,050 square feet, while the building itself is 2,037 square feet. So, Kerman paid $125 per square foot for the entire lot or $864 per square foot for the building, depending on how one values the property.

The property last sold in 2015 for $1.9 million, records show.

Burger King sign scaled

Archived Google Street View images indicate the Burger King closed sometime between November 2019 and November 2020.

Kerman noted that AFC has a location across the street from the building, and said the purchase is his initial foray into the coffee scene.

“Right now it’s just an experiment,” he said. “It was a property I like. There’s a great opportunity in it. It’s nearby one of my other properties, so it’s easier to manage. I can make a decision in a few years if that’s something I want to pursue more.”

Your subscription has expired. Renew now by choosing a subscription below!

For more informaiton, head over to your profile.

Profile


SUBSCRIBE NOW

 — 

 — 

 — 

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING [email protected].

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.

EACH MEMBERSHIP WILL ONLY FUNCTION ON UP TO 3 MACHINES. ACCOUNTS ABUSING THAT LIMIT WILL BE DISCONTINUED.

FOR ASSISTANCE WITH YOUR MEMBERSHIP PLEASE EMAIL [email protected]




Return to Homepage

POSTED IN Commercial Real Estate, Restaurants,

Editor's Picks

Comments are closed.