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Agile Development Site in an Affluent Area 2700 Forestville Rd 15.76 Acres of Commercial Land Online Auction Sale Wake Forest, NC 27587
Investment Highlights
- Offering 15.76 acres on a single parcel with acreage on both sides of Forestville Road for two separate lots spanning 11.79 acres and 3.97 acres.
- Surrounded by new single-family residential, multifamily, and commercial projects, highlighting rising demand in the immediate area.
- Flexibly zoned, the preliminary plan shows 24 single-family home lots for the 11.79-acre side; the 3.97-acre side is ideal to complement residences.
- Future deliveries will benefit from a high-income population, as the average household income within a 3-mile radius stands at over $136,000 per year.
Executive Summary
Explore the immense potential of this one-of-a-kind land acquisition opportunity presented by Lee & Associates.
This 15.76-acre tract is a single parcel, but it is spread across two segmented lots. The western lot spans 11.79 acres, and the eastern lot is 3.97 acres. This site is at the center of a dense concentration of exciting upscale residential developments. It is adjacent to a sprawling community that includes a 224-unit apartment complex and over 140 townhomes, KB Home’s Tucker Place, and many more. Sheetz also just opened a store caddy corner to the site. Water and sewer utilities are readily available and the site’s generous zoning allows for a range of uses. The 11.79-acre lot had previously been mapped out for 24 single-family homes, and the 3.97-acre lot is ideal for an outparcel to serve the new households.
Growth in the immediate area is reflected in broader demographic data. In fact, total households within a 3-mile radius of the site grew by 16.5% from 2020 to 2025, with projections calling for another 8% uptick through 2030, and these households tend to be highly affluent. In addition to residential development, roughly 520,000 square feet of commercial and multifamily space has been delivered since 2020 within an approximately five-minute drive of the site, underscoring the viability of mixed-use projects here. The site’s location is poised for long-term value, as its proximity to key roadways makes it a desirable commuter node, enabling drivers to reach the centers of both Raleigh and Durham in 18 to 30 minutes without the cost of near-city housing.
This 15.76-acre tract is a single parcel, but it is spread across two segmented lots. The western lot spans 11.79 acres, and the eastern lot is 3.97 acres. This site is at the center of a dense concentration of exciting upscale residential developments. It is adjacent to a sprawling community that includes a 224-unit apartment complex and over 140 townhomes, KB Home’s Tucker Place, and many more. Sheetz also just opened a store caddy corner to the site. Water and sewer utilities are readily available and the site’s generous zoning allows for a range of uses. The 11.79-acre lot had previously been mapped out for 24 single-family homes, and the 3.97-acre lot is ideal for an outparcel to serve the new households.
Growth in the immediate area is reflected in broader demographic data. In fact, total households within a 3-mile radius of the site grew by 16.5% from 2020 to 2025, with projections calling for another 8% uptick through 2030, and these households tend to be highly affluent. In addition to residential development, roughly 520,000 square feet of commercial and multifamily space has been delivered since 2020 within an approximately five-minute drive of the site, underscoring the viability of mixed-use projects here. The site’s location is poised for long-term value, as its proximity to key roadways makes it a desirable commuter node, enabling drivers to reach the centers of both Raleigh and Durham in 18 to 30 minutes without the cost of near-city housing.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
Property Facts
| Property Type | Land | Total Lot Size | 15.76 AC |
| Property Subtype | Commercial | Sale Condition | Auction Sale |
| Sale Type | Investment | Type of Ownership | Fee Simple |
| Zoning | R-10-CU - Residential | ||
| Property Type | Land |
| Property Subtype | Commercial |
| Sale Type | Investment |
| Total Lot Size | 15.76 AC |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Zoning | R-10-CU - Residential |
1 Lot Available
Lot
| Lot Size | 15.76 AC | Parcel Number | 1748.04-52-8864-000 |
| Lot Size | 15.76 AC |
| Parcel Number | 1748.04-52-8864-000 |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Sale Advisors
Sale Advisors
Moss Withers, Chief Executive Officer & Principal
Moss Withers, SIOR, MBA is the founding President of Lee & Associates, Raleigh-Durham. He began his brokerage career at NAI Carolantic and quickly established himself as a leader in the Triangle’s commercial real estate market. Moss has completed over 650 transactions ranging from large, land assemblages, to office sales & leasing, to investment properties. As a service oriented broker, Moss has earned numerous commercial brokerage awards including the prestigious Triangle Commercial Association of Realtors 2016 Realtor of the Year, the TCREW 2017 Powerhouse award, two Global Top Producer recognitions in 2016 & 2017 for performance internationally, TCREW’s Best Professional Commercial Real Estate Service Award in 2016, and the Triangle, Business Journal’s Top 40 under 40 award in 2014 to name a few.
Karah Jennings McConnell, Principal/Executive Vice President
Karah Jennings McConnell is a founding Principal with more than ten years in the Commercial Real Estate industry. She started her real estate career with NAI Carolantic Realty in 2013 after working with JP Morgan on the Institutional Equity Sales team covering the Southeast and Texas regions. Karah’s corporate and research experience are the foundation for her business development skills that lead into effective management of transactions. She primarily focuses on land and office properties, teaming with Moss Withers, SIOR, MBA.
About the Auction Technology
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Auction Contact
Kevin Loudy
Contact
Ten-X Licensing:
Ten-X, LLC Samantha Corbat RE Brkr C34060. Ten-X, LLC Auction Firm 10478. NCALB Disclosure: Broker Contact is the Seller’s Real Estate Listing Agent providing real estate services only. Broker Contact is not acting as an Auctioneer.
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3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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Agile Development Site in an Affluent Area | 2700 Forestville Rd
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Agile Development Site in an Affluent Area | 2700 Forestville Rd
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