How is property depreciation/basis affected after a fire?

[Michael DiFranco]

I am trying to sell a commercial investment property and am wondering the tax implications.

Here is the example.

I had a long term tenant, 40 + years.  Original Value of Building in 1970 was like $500k.

In 2007 there was a fire and the building was a total loss and I rebuilt the building 8 years ago after a fire.

If i am planning selling the building how is my basis factored?  Will all the depreciation i had written off the past 33 years prior to the building burning down essentially up in smoke?

Thanks!