I can’t remember the last time a local civic improvement generated this much buzz. Developers near Little Rock have just broken ground on the most eagerly anticipated new construction project in years… and people can’t stop talking about it.

Believe it or not, I’m referring to a gas station. But not just any ordinary Shell or Chevron. That would hardly be newsworthy. I’m talking about a monstrous 60,000 square-foot superstore that is part filling station, part food court, and part shopping mall.

Yes, a Buc-ee’s is coming to town.

The flourishing travel center chain (which first began spreading beyond its Texas roots in 2018) has quickly become an institution across the Gulf Coast states. There are now about 50 locations stretching as far as Kentucky. And to call them popular would be an understatement.

Travelers heading east on I-10 towards the Florida beaches are accustomed to seeing a long line of brake lights right around Exit No. 49, sometimes stretching for miles.

Is it a wreck? Nope, just the line to get into the Foley, Alabama, Buc-ee’s. I’ve tried to visit multiple times, always giving up impatiently and ultimately stopping somewhere else.

Honestly, it’s easier to get into Disney World.

So what’s the big deal? For those who’ve never been, I’ll try to explain. Let me start by saying that most Buc’ee’s locations are about the size of your average supermarket, filled with an eclectic mix of merchandise you won’t find at any other convenience store.

Swimwear. Pet toys. Home decor. Even Yeti coolers.

If shopping isn’t on your agenda, then maybe a bite to eat. There are rows of freshly prepared snacks — everything from sliced vegetables to banana pudding. No trip is complete without a bag of sugary “Beaver Nuggets.” I can’t think of too many other gas stations with their own line of private-label merchandise.

That wonderful scent wafting around could be the house-made fudge (dozens of varieties available to sample). Or it could be oversized blueberry muffins in the bakery. Or cinnamon-glazed pecans at the nut kiosk. But most likely, it’s the smoked barbecue being sliced and chopped right in the middle of the store.

If you’re there early, I recommend the brisket and egg breakfast burritos. There are huge bins of grab-and-go items, as well as a full menu of made-to-order meals. Weary travelers stop for a tank of unleaded and a trip to the spotlessly clean bathrooms. But they stay for a pulled pork sandwich and a steamed cappuccino.

Based on several million reviews, Buc-ee’s has been named “best gas station coffee in the country” multiple times.

It truly is a next-level pitstop.

Outside, you’ll find as many as 120 fuel pumps — often with cars and trucks waiting in line 24 hours a day.

Most locations are staffed with 200-plus crew members. You know something is different when department managers pull down lofty six-figure salaries. I’d love to peek at the firm’s financials, but as a private enterprise, they aren’t divulged.

However, widely circulated reports suggest that sales have been growing at a healthy 20% annualized pace and now exceed $2.5 billion per year. Gross profits are thought to be in the 40% range. And new locations are popping up on heavily traveled interstate corridors from Colorado to West Virginia.

There are rumors of a potential IPO in a few years, at which point venture capital backers will likely cash out a fortune.

In the meantime, investors have other options.

After all, there are busy gas stations on just about every major street corner. According to the American Petroleum Institute (API), we’ve got approximately 145,000 up and running nationwide. Contrary to popular belief, very few (less than 5%) are owned and operated by refiners like Valero or integrated oil giants like Exxon Mobil.

Most are run by independents.

It’s hard to even imagine a time before curbside gas stations. But at the turn of the 20th century, early drivers purchased gasoline in five-gallon containers from hardware stores and other bulk suppliers. The first service station was opened in Seattle in 1907 by Standard Oil, helping John D. Rockefeller build an empire. At that point, there weren’t any paved roads yet — just dirt and gravel.

But within a year, 300,000 automobiles were already in use.

The next big evolution came in 1927, when an enterprising merchant in Dallas began stocking his store with milk, bread, eggs, and other staples. He opened at 7 a.m. and stayed open until 11 p.m., long after most grocery stores were closed. Shoppers appreciated the convenience — encouraging the owner to rebrand his store as 7-Eleven.

Suddenly drivers could now top off the tank and grab a few essential items at the same time. Before long, self-serve stations first made their appearance. And then the Federal Highway Act of 1956 created the interstate system.

The rest is history.

Today, this industry serves 280 million cars and trucks plying the nation’s roadways… to say nothing of commercial freight haulers. According to the Department of Energy, U.S. drivers burned 8.94 million barrels of gasoline per day last year. At 42 gallons per barrel, that works out to 376 million gallons.

That’s about a quarter-million gallons per minute… not counting diesel. And we need every drop of it. Because on an average day, U.S. drivers travel a combined 10 billion miles – enough to reach Jupiter and back ten times.

As consumers, none of us like the strain on our budget. But all those weekly fill-ups translate into steady recurring income for companies like Sunoco (NYSE: SUN), a wholesale supplier that distributes motor fuel to thousands of retail gas station customers.

But there’s even more to like at Casey’s General Stores (NSDQ: CASY), a common fixture in countless rural towns throughout the nation’s heartland. The chain has expanded to 2,900 locations from Florida to North Dakota, two-thirds of which are found in small cities of less than 20,000.

The Casey’s brand has more than doubled in size over the past decade. Some of that growth is organic, but most comes from the acquisition and rebranding of hundreds of existing stores over the past few years. Considering more than half of the industry is still fragmented among small-scale operators with 1-10 locations, this field is ripe for continued consolidation.

Casey’s rings up about 800 million sales transactions annually. Most of those come from guests who pick up a few miscellaneous items while refueling. Maybe even lunch. Like Buc’ee’s, Casey’s carries a wide assortment of private-label goods and also has a buzzing prepared food business – it ranks as the nation’s fifth largest pizza chain.

There are 9 million card-carrying members of the Casey’s rewards club, a loyalty program that encourages repeat business. Citing strong store traffic, the company delivered a healthy 20% increase in earnings last quarter to $5.77 per share. Quarterly EBITDA topped $400 million and is expected to continue climbing at an 8%-10% annual clip through a combination of margin expansion and accelerated new unit growth.

In the meantime, CASY stock has already more than tripled over the past five years, motoring from $180 to the current $560. But look under the hood, and you’ll find it still trades at a discounted Enterprise Value/EBITDA multiple relative to most of its retail peers.