Today's scan covered approximately 65 active MLS land listings across Wake, Chatham, Orange, and southern Durham counties. No client requests were pending. Two deals cleared the bar. The standout is a heavily discounted Fuquay-Varina entitlement play: an 11.12-acre RA/HCO parcel on the US 401 corridor, listed 681 days with a Suburban Commercial Future Land Use designation and a town sewer pump station abutting the rear — a paper-win setup with real commercial demand proven by Gold Leaf Crossing (Target-anchored) and WakeMed Medical Park flanking the site. The second deal is a Holly Springs 10-acre public-sewer parcel near the business park that fails the residential model at any land price (construction + carry consume >80% of revenue at current $265/SF comps) but offers meaningful commercial entitlement upside if negotiated to MAO and rezoned. Wake Forest, Apex, Cary, and Chapel Hill were also scanned; actionable land either carried institutional pricing (the $34.6M, 110-acre Tingen Rd assemblage across from the new NC Children's Hospital campus in Apex — notable flag for partners with that scale) or had septic-only utilities limiting viable density.
| # | Property · Strategy & project cost | List | Net | Margin | Max Offer | Grade |
|---|---|---|---|---|---|---|
| 1 | 0 Long Street, Fuquay Varina, NC 27526 · Entitlement (Strategy D) — negotiate RA/HCO land with Suburban Commercial FLU, rezone commercial, resell to medical/retail developer; no Home On construction required $1M–$5M project | $1,999,000 | +$1,008,632 | 33.6% | $1,755,224 | GOOD |
| 2 | 0 Thomas Mill Road, Holly Springs, NC 27540 · Entitlement (Strategy D) — public-sewer RR land near Holly Springs Business Park; rezone commercial/office, resell to developer. Residential subdivision FAILS at any land cost at current $265/SF comps. $1M–$5M project | $2,900,000 | +$672,500 | 16.8% | $2,389,035 | MARGINAL |
Project cost is the whole job — land, carry, build and financing, everything except selling. Click any property for its full deep-dive. Figures are model outputs on best-effort public listing data — re-verify each listing is active and clear the go/no-go gates before acting.
Fuquay-Varina commercial land: active listings average $291,603/acre (LandSearch/Crexi, Sep 2026); Deal 1 modeled conservatively at $270K/acre for entitlement resale. Holly Springs new construction sold comps: 749 W Holly Springs Rd $789,000/3,008 SF = $262/SF; 743 W Holly Springs Rd $785,000/2,944 SF = $267/SF (Redfin/Triangle MLS, late 2025–2026); median new construction Holly Springs $804,508 (May 2026 Redfin). These comps confirm HS new construction trades at $262–$267/SF — a spread insufficient to support residential subdivision at $2.9M land cost. Holly Springs commercial/industrial land comps from Wake County recorder records are needed before committing on Deal 2.
This scan reinforces that the best near-term Triangle opportunity is entitlement arbitrage: land with strong Future Land Use support for commercial or higher density, a motivated seller (long DOM), and proven demand drivers already operating on the corridor. The Fuquay 401 parcel checks every box. Recommended next step: Home On submits a contingent term sheet at $1.4–$1.5M with a 90-day DD period, uses 30 days for a pre-app meeting with FV planning, and goes hard only after staff confirms commercial rezoning support. Wake Forest, Apex outside institutional scale, and Holly Springs face tight buildable-land supply through 2026–2027 as the NC Children's Hospital Apex campus construction ramp begins in 2027.