You could make it conditional on some things. The goal is to compensate for discomfort, not to compensate lost income. So you could say you only compensate primary residences and self operated businesses, both occupied for 3+ years.
Or you could approach it from a different angle and compensate each resident and business operators with $10,000 relocation cost (in addition to buying their property with a 5% extra). That has the added benefit of eliminating more of the market price risk from projections.
I think the optimal course is to have a very painful eminant domain process that pays a crappy above market rate so that government is incentivized to offer actual market rate (big project wants your land so market rate is vastly increased as a result). I have seen corn fields sold for millions because a state college wanted it for a new campus. The market rate was well under $1MM. For that land eminant domain would have been a nightmare because of the particular politics and unimproved nature of the site....so they had to offer actual market rate...which is the rate demanded of someone when they know it's a monied developer that wants it.
Or you could approach it from a different angle and compensate each resident and business operators with $10,000 relocation cost (in addition to buying their property with a 5% extra). That has the added benefit of eliminating more of the market price risk from projections.