Much of what you describing would need to be capitalized and then depreciated. Demolition costs, rebuilding, the electrical and plumbing.
Equipment separate from the building structure would be capitalized separately, and may be elected to be deducted outright under Section 179, or depreciated. There are some limits to Section 179 deduction.
This link may help you
https://www.irs.gov/pub/irs-pdf/p946.pdf
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