One of the big land owners here in Oklahoma City area bought every bit of land he could. He said he did not want to own everything, just his property, and the property next to his.
If you are buying land in a "good area" and not in a bad part of town, it is hard to go wrong long term. Only in parts of the Big Island of Hawaii is there any new land, and it will not be on the market for hundreds or thousands of years. Your plot sounds like a good deal.
One of "friends of a friend" had his father in law call him and tell him to buy a piece of property and to sell assets and borrow all he could to buy it. He listened, and within a year Walmart came knocking and offered him a nice profit. He called the FIL and he said whatever they offer, say no unless they double it. Walmart would walk away, but come back a year later. In the end he sold the property for a huge profit, and promptly asked his FIL if he had another advice for a good piece of land.