Eminent domain question for retail
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[{"id": "eiq2acv", "text": "Your jurisdiction should have a process for determining FMV. Might be associated with local brokerage association or MAI chapter. Could you have built on it? Did you market the landscaping portion to prospective tenants? Does it provide a buffer from neighboring property for sound, safety, or other reasons?", "replies": [], "depth": 1}, {"id": "eiqalcq", "text": "There should be two values in the appraisal. One will be the value of the property actually taken. The other will be the damages to the remainder tract. The damages will be determined by comparing the \u201cbefore\u201d and the \u201cafter\u201d the taking. In some cases the damages are negligible and sometimes they are significant. ", "replies": [], "depth": 1}, {"id": "eir32n8", "text": "We start with sales of similarly developed land, ideally pad-ready. If the comps indicate $40/ft., multiply x what is being taken. If there are damages to the remainder, say by you losing parking, the compensation will be more. If the offer or your rough estimate is high enough, you should consider hiring an MAI-designated appraiser for $3000. Could be well worth your while. ", "replies": [], "depth": 1}]