April 22, 2026
When people talk about mixed-use real estate in Queens, they tend to focus on the marquee neighborhoods like Astoria and Long Island City. But some of the most interesting activity in the borough is happening along the commercial corridors that run through its middle and southeastern sections. Here is a ground-level look at what is happening on Jamaica Avenue, Hillside Avenue, and the surrounding markets.
Jamaica Avenue: A Corridor Under Transformation
Jamaica Avenue is one of the longest and most heavily trafficked commercial streets in Queens, running through Richmond Hill, Woodhaven, and Jamaica before terminating near the Queens-Nassau border. The corridor has long supported a dense inventory of mixed-use buildings: typically two-to-four-story structures with retail on the ground floor and one to three residential units above.
Downtown Jamaica specifically has been drawing development attention for years, and that activity accelerated in 2025. The area around Sutphin Boulevard and Jamaica Avenue, anchored by the AirTrain terminal and multiple subway and LIRR connections, has seen a steady pipeline of new mixed-use proposals. Listings along Sutphin Boulevard, including properties like 119-01 Sutphin Blvd, illustrate the typical structure: two-bedroom residential units above ground-floor commercial spaces in high-traffic, transit-rich locations. These properties attract both investors seeking dual income streams and owner-users who want to operate a business while collecting rent above.
Further east along Jamaica Avenue through Richmond Hill, the zoning designations shift between R6A and C-overlay districts, creating opportunities for mixed-use development on lots that are currently underbuilt relative to their allowable FAR. Properties along Jamaica Avenue in Richmond Hill have been trading with a mix of retail and residential components, with prices varying significantly based on unit mix, occupancy status, and whether the retail is occupied by a long-term tenant or vacant.
Vacancy in the retail component is worth paying attention to. Per Matthews' Queens 2025 report, the most aggressively priced transactions in 2025 involved buildings with vacant retail spaces, with owner-users paying a 22% premium above what traditional investors were bidding. If you own a Jamaica Avenue mixed-use building with a vacant storefront and have been treating that as a liability, the data suggests the market disagrees.
Hillside Avenue: The Understated Corridor
Hillside Avenue runs from Jamaica north through Jamaica Estates, Queens Village, Bellerose, and toward the Nassau County line. It is a slower-burn corridor than Jamaica Avenue but one with strong fundamentals: steady foot traffic, a dense residential population on both sides, and a mix of long-tenanted retail users including pharmacies, supermarkets, and service businesses.
One of the notable transactions on the corridor in November 2025 was the sale of 169-01 Hillside Ave in Jamaica Estates, a 12,000-square-foot retail property that traded for $8.3 million in an all-cash deal. The building, occupied by a mix of tenants including CTown Supermarkets and Carvel, was purchased by a private individual. Shortly before the sale, construction permits had been filed for a ten-story mixed-use building on the site with 15 residences and retail space, signaling that the buyer may be looking at this as a long-term redevelopment play.
That transaction is instructive for existing Hillside Avenue property owners. The gap between what a stabilized retail asset is worth today and what a permitted, shovel-ready mixed-use development site is worth is meaningful. If you own a one or two-story commercial or mixed-use building on Hillside Avenue and your lot has unused FAR, the rezoning and development conversations happening in this part of Queens are worth paying attention to.
Further east in Queens Village, corner lots along Hillside Avenue near Francis Lewis Boulevard have been drawing buyer interest as mixed-use development candidates, with properties along the Queens Village business district actively trading in the $1M to $2.5M range depending on size and configuration.
What 2026 Holds for These Corridors
Queens is entering 2026 with the strongest inventory growth of any NYC borough at 14.9% year over year, which means buyers have more options than they did a year ago. For sellers along Jamaica Avenue and Hillside Avenue, that is not a reason to panic but it is a reason to be precise. The buyers who are active in these markets in 2026 are informed, data-driven, and not overpaying for properties that have pricing disconnected from income.
The structural demand story for these corridors remains intact. High transit access, dense renter populations, and a persistent shortage of quality free-market mixed-use inventory all support values. The owners who position their buildings well in 2026, with clean financials, accurate rent rolls, and a clear understanding of their development potential, will find a willing buyer pool.
Disclaimer: This content is meant for informational purposes only and is not intended to be construed as financial, tax, legal, or insurance advice.
