The empty lot at 280 Yarrow Street has been for sale for years, but recently Suppa Properties has proposed an 18,500 square foot retail development for the parcel. The location is on the corner of Yarrow and W. Alameda.
The renderings I've seen show an appropriately scaled development that reinforces the Alameda streetscape with brickwork and high facades, and (critically) hides its surface parking in back. The retail spaces would range from 1200 to 8500 square feet, and would be easily walkable from the South Lakewood neighborhoods to the north, including the Village at Belmar.
I'm going to dig around and see if I can find out more about the proposal, but it looks promising if it gets off the ground.