i have 2.8 acres that is going to be taken over by turnpike project what can i expect in payment @ $135. sq ft

In Selling Property - Asked by kevin a. - Oct 6, 2008
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Answer(s)

Erika A.
Coral Gables, FL

1 Acres = 43,560 sf
Therefore, 2.8 x 43,560 = 121,968 Sf
121,968 x $135 sf = $16,465,680
Just double check the figures to make sure that it is correct...

Oct 6, 2008
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H M.
Owner/Investor
Orlando, FL

If the government is taking your property for a road project, you should speak with an experienced eminent domain attorney to help you evaluate your options. In addition to compensation for the property taken and damages to the remainder, the condemning authority is required to pay your attorney's fees and reasonable expert costs.

Oct 6, 2008
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Joel O.
Broker/Agent
Canton, GA

There are Federal statutes and State statutes when it comes to eminent domain.The process varies by state so you do need to talk to an attorney.
The 135.00 sq ft seems awfully high for raw land.What will usually happen is an appraisal will be performed to determine a FAIR market value for the property.Often times this varies from the sellers (highest and best use) point of view.Usually if you disagree with the appraisal there is an appeals process.
Good luck-no legal advice

Oct 8, 2008
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