Fresh Stop II portfolio
Retail (NNN gas station / convenience store) property in Multi-state (2) — sponsored by Madison Capital Group
Files with the SEC as Fresh Stop II DST
Minimum investment
$100k
Offering size
$13.2M
How much has sold
None sold yet
Asset type
Retail (NNN gas station / convenience store) property
Location
Multi-state (2)
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Fresh Stop II DST is a Delaware statutory trust — fractional, passive property ownership that can serve as replacement property in a 1031 exchange — holding gas-station and convenience-store properties in Texas and Florida that Madison Capital Group says are triple-net leased to Fresh Stop.2 The sponsor's fact sheet presents the Offering, still raising, as all-cash and debt-free.3 SEC records show one Form D on file, never amended.1
Sponsor Madison Capital Group; 4 single-tenant NNN FreshStop stores; min $100k; $0 sold as of 8/25 Form D
Show sources (5)Hide sources (5)
These links support the public record as a whole; individual details may come from different sources.
Driscoll (Corpus Christi MSA), TX · exact location not on recordThe filings name the market but not an address we can place on a map.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
Madison Capital Group lists the addresses as 2204 Highway 77 in Driscoll, 308 East Pine Street in Frankston and 4730 US-59 in Shepherd, Texas, plus 9590 Ulberton Road in Largo, Florida.2 Its fact sheet puts the combined space at 11,414 rentable square feet and states the properties were renovated in 2025, with re-imaging as Fresh Stop locations described as a plan rather than finished work.3 No seller, acquisition date or purchase price appears in the public record.
- Reported location
- Multi-state (2)
- Property size
- 4 stores
Who is the tenant, and what's the lease?
Madison Capital Group states the properties are NNN — triple-net — leased to Fresh Stop, meaning the tenant, not the Trust, carries taxes, insurance and maintenance, with roughly 20 years remaining.3 Fresh Stop's founder, Ryan Hanks, is Madison's chief executive, so tenant and sponsor share leadership rather than standing at arm's length.
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
Raise history appears here once sales are filed — free account required.
How is it financed, and what does it pay?
A Madison Capital Group fact sheet presents the Trust as all-cash and debt-free, holding the properties without mortgage financing.3 An unleveraged DST has no loan to mature or refinance, and it leaves a 1031 exchanger no mortgage debt to replace. No lender is named in any public source.
Who's behind it?
Madison Capital Group's offering page identifies Madison Commercial Manager, LLC as managing the fund's investment activities and day-to-day operations.2 CSP Daily News reported on September 24, 2025 that Ryan Hanks, founder of the Fresh Stop brand, is chief executive of Madison Capital Group, alongside Fresh Stop's expansion into Texas and Florida. CStore Dive reported on April 23, 2026 that Madison had another convenience store in development in Driscoll, Texas — one of this portfolio's locations.
- Sponsor
- Madison Capital Group
- Legal Trust name
- Fresh Stop II DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 6 active / 12 total offerings from Madison Capital Group
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The exempt-offering notice on record is the original and shows no amendment, so its figures are a snapshot taken at filing rather than a current tally.1 Rule 506(c) lets Madison Capital Group advertise the Offering publicly, provided every purchaser is an accredited investor — income- or net-worth-qualified — whose status the sponsor verifies.
- Form D filedFirst and latest filing on record.
- Filings on record
- 1
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
- Read the filings on SEC EDGAR
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
Common questions
Is Fresh Stop II portfolio still raising money?
Top1031 lists Fresh Stop II portfolio as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for Fresh Stop II portfolio?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
What does Fresh Stop II DST own?
Madison Capital Group describes a portfolio of freestanding gas-station and convenience-store properties totaling 11,414 rentable square feet: 2204 Highway 77 in Driscoll, Texas (Corpus Christi MSA), 308 East Pine Street in Frankston, Texas (Tyler MSA), 4730 US-59 in Shepherd, Texas (Houston MSA) and 9590 Ulberton Road in Largo, Florida (Tampa Bay MSA). Some sponsor and pipeline materials spell the Houston-area town 'Shepard' rather than Shepherd.
Is the Trust financed with a mortgage?
A Madison Capital Group fact sheet characterizes Fresh Stop II DST as all-cash and debt-free, and no lender appears in any public source reviewed. An exchanger who needs to replace mortgage debt from a relinquished property would not find that debt here. Confirm capitalization in the Private Placement Memorandum, the offering document that governs actual terms.
Is the tenant related to the sponsor?
Yes. CSP Daily News reported on September 24, 2025 that Ryan Hanks, founder of the Fresh Stop brand, is chief executive of Madison Capital Group, the sponsor, and Madison states the properties are NNN leased to Fresh Stop. That makes the lease an affiliated arrangement rather than a lease to an unrelated operator. The PPM should set out lease terms and any guaranty.
Who can invest, and what is the minimum?
The August 28, 2025 Form D was filed under Rule 506(c), which permits public advertising of a private placement but limits purchasers to accredited investors whose status the sponsor must verify — typically with tax returns, brokerage statements or a third-party letter. That notice reports a $100,000 minimum investment from any outside investor. Confirm the governing minimum in the PPM.
Is there a 721 or UPREIT exit?
Nothing in the record indicates a 721 exchange or UPREIT exit, in which a DST's property is later contributed to a REIT's operating partnership in exchange for units. The Trust shows no REIT conversion feature. Exit mechanics, including sale rights and hold expectations, are set out in the PPM.
What is still unresolved in public filings?
The seller, acquisition dates and purchase prices, whether the 2025 renovation and Fresh Stop re-imaging are complete, occupancy, exact lease expiration dates, and the tenant's or any guarantor's financial strength are not settled by public sources. Only one Form D appears on EDGAR for this issuer, dated August 28, 2025, and its subscription figures are as of that date rather than current.
Chapter 9Fresh Stop acquires 4 c-stores in Texas for $13MCStore Dive coverage of Madison Capital Group's Fresh Stop Texas acquisitions notes Madison also has 'another c-store in development in Driscoll', one of the four properties comprising the Fresh Stop II DST portfolio.