Representing real estate developers, we are often asked how damages are calculated when the State of Florida takes a building in eminent domain. The answer is that it depends (don’t you love lawyerly answers?), but for the most basic scenario, we’ll analyze a taking that will require destruction of the entire building and for round numbers, we’ll say that the building has a fair market value of one million dollars. In short, under applicable Florida statutes and case law, fair market value of land and any additional factor impacting the value of the condemned property are factors to determine full compensation. The specific facts of the case will determine if any other applicable compensation is awarded.
Real Estate Development, Sales and Leasing Industry Legal Blog
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