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    Homesite near Fearrington Village Title is generated by Realmo AI

    411 Auburn Lane, Pittsboro, NC 27312

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    Claim this Listing
    For Sale
    $480,000

    LAND - Pittsboro, NC

    Lot size:
    11.12 Acres
    Added:
    Mar 20, 2026
    Days on Market:
    57
    Last Refresh:
    May 15 at 10:06 pm

    Property Features for 411 Auburn Lane

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R1
    Vegetation
    Partially Wooded
    Standard status
    Active
    APN
    0097653
    Lot size
    11.12 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Description
    97653 - new description comes out Jan 2027
    Tax Annual Amount
    1288

    Utilities

    Utilities
    Electricity Available
    Sewer type
    Perc Test On File, Septic Needed
    Water source
    Well Needed

    We can help!

    Listing Contact
    Kristen Spruill

    Listing agent Kristen Spruill

    Listing office Choice Residential Real Estate 256 W Millbrook Road, Raleigh, NC

    Listing date Mar 20, 2026

    MLS# 10154127 Listing URL

    Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Approved 5‑bedroom septic permit saves time and allows for faster building process.
    • Creek frontage with west‑facing exposure for stunning sunset views.
    • Prime location across from Fearrington Village, close to Pittsboro and Chapel Hill.
    • No HOA and R‑1 zoning allows for an ADU up to 1,500 sq ft.
    • Build‑ready homesite with flexibility for homesite placement to maximize privacy and views.
    • Electricity available.

    Overview

    This 11.12-acre homesite, located across from Fearrington Village, is ready for construction with an approved septic permit for a 5-bedroom home. The west-facing property offers views and captures afternoon light and sunset views over Pokeberry Creek. Zoned R-1 with no HOA, the property allows for an Accessory Dwelling Unit (ADU) up to 1,500 square feet, suitable for guests, extended family, or a private studio. The landscape provides flexibility for homesite placement, allowing for a home design that maximizes privacy, views, and natural light. Situated along the US Highway 15-501 corridor, the property is located minutes from Pittsboro and Chapel Hill. The property offers the opportunity to build a custom home surrounded by nature, while remaining close to Chatham County destinations.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Auto Repair Shop Nail Salon Hotel & Motel Gym & Fitness Center Food Market Bar & Pub Electrical Service Wine and Liquor Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pittsboro
    County
    Chatham
    State
    North Carolina
    Longitude
    -79.10718
    Latitude
    35.79642

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    FAQs

    What type of property is this?
    Residential land & home lot - Build-ready homesite with creek frontage near Pittsboro and Chapel Hill.
    Where is this residential land & home lot located?
    The property is located at 411 Auburn Lane Pittsboro, NC.
    What is the asking price?
    The asking price for this property is $480,000.
    What are key features of this property?
    This property features: Approved 5‑bedroom septic permit saves time and allows for faster building process.; Creek frontage with west‑facing exposure for stunning sunset views.; Prime location across from Fearrington Village, close to Pittsboro and Chapel Hill.
    (540) 455-3434
    We can help!
    Listing Contact
    Kristen Spruill
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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