You can change somebody's zoning but typically they would be allowed to remain as a legal, nonconforming use. However, once the building is demolished, it would have to conform to the new zoning ordinance. Building standards would have changed over the intervening 80 years anyway though.
Nearly every adult business that isn't located in an industrial area is operating under some sort of grandfathered special use permit that allows them to continue to operate in their location. But if they close for 30 days (or 90 or whatever) they permit is revoked and they can't reopen.
I'm not sure if there are regulations around chemicals that would relate to this building and their continued use and storage, but the site is next to the railroad tracks and zoned GI, General Industrial.
Changing a zoning and telling the property owner that they can't continue to do business would be a de facto taking.