Fla. Std. Jury Instr. (Civ.) 423.5

The constitutional requirement of full compensation means (owner) must be paid completely for the whole loss resulting from the taking. In most cases, it will be necessary and sufficient to full compensation that the award constitutes the fair market value of the property. Although fair market value is a reliable standard in determining the amount of full compensation to be paid to (owner), it is not the only standard. It is merely a tool to assist you in determining what is full compensation as guaranteed by the Florida Constitution. [You [will hear] [have heard] witnesses testify concerning values of property involving different methods of appraisal and mathematical computations.] In determining full compensation, all facts and circumstances that bear a reasonable relationship to (owner’s) loss must be taken into account.

Fair market value is the price that a seller willing, but not compelled, to sell and a buyer willing, but not compelled, to buy would agree on in fair negotiations with knowledge of all the facts. In making your determination, you should take into account all factors that might fairly be considered and be reasonably given substantial weight in the bargaining between the seller and the buyer.

You may also consider the market value of other comparable property as of the date of the valuation and all other factors tending to increase or reduce the value of the property that a prudent seller and buyer would consider in negotiating a voluntary sale and purchase of the property taken.

The property should be valued according to its highest and best use. The phrase “highest and best use” means the highest and most profitable use for which the property is reasonably adaptable and needed, or is likely to be needed, in the foreseeable future.