11420 Jamaica Ave
Jamaica, NY 11418

This prime corner development site offers a rare opportunity in the thriving Richmond Hill section of Jamaica, Queens. Positioned at Jamaica Avenue and 115th Street, the property spans 6,926 square feet and currently features a single-story retail bank building formerly occupied by Chase Bank since 2005. The space is now vacant, but Chase maintains an absolute NNN lease through May 31, 2026, paying $19,467 per month and covering all expenses—providing immediate income while plans are finalized.
Ownership has drafted plans for a transformative seven-story mixed-use building totaling 26,964 square feet. The proposed design includes 32 residential units—22 free market and 10 affordable—along with 5,093 square feet of ground-floor retail and an additional 5,093 square feet on the lower level. The residential mix features 13 one-bedroom units and 19 two-bedroom units, catering to strong local demand for quality housing.
A key advantage of this offering is the ability to build atop the existing structure, leveraging the current foundation for significant cost savings. This strategic location benefits from excellent visibility, strong neighborhood demographics, and proximity to major transit options, retail corridors, and employment centers.