Certainly looks like a Cycad

I am assuming that someone once planted it and it just decided to start growing again. (They don't normally pop up in the middle of North Carolina.) Cycads can appear to be dead for long periods like that..., then suddenly push new growth. That's why you shouldn't assume one is dead just because it has no leaves. If you Winter is on the drier side, that is helpful, but you may still have some foliage burned out by Spring. I would would just containerize it. They do well in containers..., especially if you can get them outside in the milder months. I overwinter mine in a sunny, large garage that is cold but frost free in the dead of Winter. I put them outside from about mid March to early December (in NJ, Zone 7). The only thing it that do eventually become large for the average home. BTW, your particular species is most likely Cycas revoluta (Japanese Sago), because it is one the most commonly available and is relatively cold hardy (for a cycad). Interesting find!

Thank you for your detailed response. I will let it grow in the ground for now and then pot it up in fall before frost.