4.4.4.2. Income to Be Considered.The Supreme Court has instructed that “separation…must be made, in any case, between the value of the property and the value of the claimant’s own business skill . . . .”613 As a result, in determining the market value of the property, only income generated by the real estate itself—typically rental or royalty income—can be considered and capitalized.614 In contrast, income generated by a business conducted on the property (such as a farming operation) is not considered.615 As the First Circuit stated: “It is the value of the real estate, not the business that we are concerned with in this case. To allow evidence of past and future business profits would only confuse the value of the business with the value of the real estate.”616 The Supreme Court has recognized a single exception to this rule, allowing consideration of business income, rather than real estate income, only in those rare instances where the United States has condemned a business or franchise itself, and not merely a property on which business is conducted.617