205 E Oklahoma Blvd
Alva, OK 73717
Retail Property For Sale

205 E Oklahoma Boulevard presents the opportunity to acquire a single-tenant Pizza Hut property occupied by a long-standing operator in Alva, Oklahoma. The asset is leased to GMRG ACQ 1, LLC, an affiliate of Grand Mere Restaurant Group, under an absolute NNN lease structure that transfers responsibility for real estate taxes, insurance, utilities, maintenance, roof, structure, HVAC, and operating expenses to the tenant. The lease term extends through December 2, 2041, with four additional five-year renewal options and contractual 1.5% annual rent increases throughout the initial term and option perio
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The property has operated continuously as a Pizza Hut since its construction in 1979, demonstrating long-term occupancy and sustained relevance within the local market. The tenant's recent lease extension and commitment to a new long-term term further reinforce the location's importance within its operating portfolio. Grand Mere Restaurant Group reports ownership and operation of 126 restaurants across nine states, supported by more than 2,000 employees and annual revenue exceeding $135 million.
Positioned along Oklahoma Boulevard, which serves as the combined U.S. 64 and U.S. 281 corridor through Alva, the property benefits from visibility and access along the community's primary commercial route. Nearby demand drivers include Northwestern Oklahoma State University, Share Medical Center, Woods County government offices, Walmart, national retailers, hotels, restaurants, and other service-oriented businesses. These institutions generate recurring traffic from students, healthcare professionals, residents, visitors, and regional travelers, supporting ongoing commercial activity in the area. The combination of long-term tenancy, annual rent growth, absolute NNN lease structure, and established location within a regional service center offers investors a stable income-producing asset with embedded rental growth.