Carvana put millions into a Denver vending machine and got nothing back

Months after Carvana built one of its car vending machines near I-25 and Evans, their stock has tanked and it’s still sitting empty. What happens next?

DENVER — It catches eyes of drivers on Interstate 25, but perhaps not for the reason the company hopes it will.

Months after Carvana built one of its car vending machines near I-25 and Evans, it’s still sitting empty with no public plan to open.

In the end, the city council voted 10-3 to rezone the land, allowing the developers to build eight stories.

Phil Ruschmeyer, a commercial real estate broker, said the property at 4700 E. Evans Ave. was highly sought after because it falls on what real estate agents call “hard corners” – streets with high visibility. He said the visibility of that property alone makes it “priceless.”

Should Carvana not survive its difficult financial times, several real estate experts told 9NEWS the property would still be incredibly valuable, even with a structure that has limited uses. Ruschmeyer said another car dealer could use it to display their products. He suggested anyone looking to advertise could effectively use the property.

Carvana did not specify a date it plans to open the vending machine.