But the question remains - what do we need to do with these empty retail spaces? 

Go in person to the planning department and talk to them.

The property has two residential units on the second floor and first floor is a retail space.

For C to B-Larger developments announced nearby-Increased activity in new construction-Building of commercial retail in or near the neighborhood. 

My focus is on raising capital for acquisitions and acting as a general partner in real estate investments, with a special interest in industrial, multifamily, and retail properties.

I called the zoning department and they are telling me this is a Mixed use building (N zone).

Hey @Raven Ye Mahar, so you should call the city and make sure but if you are renting it long term, you shouldn't be on the hook for any of the occupancy taxes.Nashville has a STR Occupancy Tax - https://www.nashville.gov/departments/finance/office-treasur...In the end, I would just call the city and get the deets that way. 

I would guess that an employee in the zoning department could answer questions, too.  

I was informed by KCMO Health Department that landlords are supposed to be paying an annual fee to them and they conduct inspections of rental units in the city?

Once that’s confirmed, they’ll help you submit the required permits to the Department of Buildings (DOB) and get approval from the Department of Transportation (DOT), since it affects the sidewalk and street.After permits are approved, you’ll need a licensed contractor to do the construction.