Can anyone shed light on this building?

I saw this yesterday on my walk to Denny's on Moorhouse, it seems to be an extremely run-down building that I presume was built prior to the quakes. My best guess is that it was left to rot bc the owners never fixed it?

I saw this yesterday on my walk to Denny's on Moorhouse, it seems to be an extremely run-down building that I presume was built prior to the quakes. My best guess is that it was left to rot bc the owners never fixed it?