It is still controversial whether the grave accent should be placed on the letter o or letter a. They both are accepted.
The common rule is that if there're more than one vowel in a word which end with a vowel, the accent marks goes to the second one from the right
The English sentence is actually ambiguous as "see from that building" and "smoke from that building" are both possible readings. Is the sense of the Vietnamese "I see smoke (coming) from that building?"