Fuel & Convenience Real Estate

We buy the dirt,
and the business
standing on it.

QuadStone Group LLC is a partner-owned investment company. We acquire gas station and convenience store properties, hold the real estate, and operate the businesses ourselves. No syndication, no outside capital, no committee. Four partners and one shared standard.

See what we buy How we underwrite
4
Partners, one shared book
1.25×
Minimum DSCR to proceed
100%
Deals modeled before offer
0
Outside investors to answer to

The Approach

Four steps, in this order, every time.

Most listings that include real estate are priced far above what a lender will finance. Our process is built to find the exceptions quickly and walk away from the rest without wasting a seller's time.

  1. 01

    Research

    We source directly and through brokers, then pull traffic counts, fuel volumes, competition, and the demographics around the corner before we ever ask for financials.

  2. 02

    Underwrite

    Every deal is rebuilt from the ground up in our own platform — inside margin, cents per gallon, lottery, ATM, food service, the full expense stack, and the financing structure a lender would actually approve.

  3. 03

    Acquire

    We close with our own capital and conventional or SBA debt. Environmental diligence is never skipped: Phase I on every site, Phase II when the record warrants it, and reserves set before the LOI is signed.

  4. 04

    Operate

    We run what we buy. Inventory, staffing, fuel supply, and compliance stay in-house, because the return we underwrote only shows up if somebody actually manages the store.

The Platform

Our edge is that we do the math first.

We built our own underwriting software rather than working off a broker's spreadsheet. It prices the real estate off a cap rate and the business off an earnings multiple, structures the debt the way an SBA lender actually would, and stress-tests the result before anyone gets excited.

  • Sum-of-parts valuation against live comparable ranges
  • Two-tranche debt modelling, real estate and business amortised separately
  • DSCR stress-tested against a 20% earnings decline
  • Tank age, environmental diligence and remediation reserves priced in
  • Levered IRR and equity multiple across the full hold period
≥ 1.25×
Debt service coverage, after owner pay
4–6×
Price to earnings, real-estate adjusted
≥ 15%
Cash-on-cash return target
Phase I
Environmental review on every site

Buy Box

What we're looking for.

If you're a broker or an owner considering a sale, this is the shape of deal we can move on quickly. We'll give you a straight answer either way, usually within a week.

Asset type Gas stations and convenience stores. Fee simple preferred; we'll look at leasehold with long remaining term.
Geography Texas and neighbouring states, with a focus on the Houston metro and secondary markets within a day's drive.
Deal size $500K to $5M per site. Single locations and small portfolios both work.
Structure Cash and conventional or SBA debt. Seller financing welcome and often improves the terms we can offer.
Condition Operating sites, underperforming stores, and owner-retirement situations. Known environmental issues considered if documented.
What we need Two to three years of financials, fuel volume history, and tank records. That's enough for a first answer.

The Partners

Four owners. Every deal signed off by all of us.

QuadStone is owned and run by its four partners. There is no fund, no outside LP, and no acquisition that goes forward without agreement across the table.

SMSahil Manisa
SASaineef Ali
AAAynul Ali
AMAlzaib Maknojia

Bring us a deal

Have a site to sell?

Send the address, the last two years of financials, and recent fuel volumes. We underwrite every submission ourselves and reply either way.

contact@quadstonellc.com Partner sign in