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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2012
Accounting Policies [Abstract] |
Schedule of Derivative Liabilities at Fair Value [Table Text Block] | The table below sets forth the Company’s fair value hierarchy for liabilities measured or disclosed at fair value as of December 31, 2012.
Liability: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Carrying Value |
Interest rate swaps |  | $ | - |  |  | $ | 1,337,998 |  |  | $ | - |  |  | $ | 1,337,998 |
Mortgages payable |  | $ | - |  |  | $ | - |  |  | $ | 119,581,000 |  |  | $ | 117,376,142 |
Note payable |  | $ | - |  |  | $ | 43,530,005 |  |  | $ | - |  |  | $ | 43,530,005 |
The table below sets forth the Company’s fair value hierarchy for liabilities measured or disclosed at fair value as of December 31, 2011.
Liability: |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Carrying Value |
Interest rate swap |  | $ | - |  |  | $ | 629,460 |  |  | $ | - |  |  | $ | 629,460 |
Mortgages payable |  | $ | - |  |  | $ | - |  |  | $ | 64,243,000 |  |  | $ | 62,854,057 |
Variable rate debt |  | $ | - |  |  | $ | 56,443,898 |  |  | $ | - |  |  | $ | 56,443,898 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | The following table represents estimated aggregate amortization expense related to deferred expenses as of December 31, 2012.
Year Ending December 31, |  |  |  |
2013 |  | $ | 1,881,155 |
2014 |  |  | 1,795,619 |
2015 |  |  | 1,523,036 |
2016 |  |  | 1,399,528 |
2017 |  |  | 1,355,536 |
Thereafter |  |  | 16,939,390 |
Total |  | $ | 24,894,264 |
Schedule of Dividends Payable [Table Text Block] | The Company declared dividends of $1.60, $1.60 and $2.04 per share during the years ended December 31, 2012, 2011, and 2010; the dividends have been reflected for federal income tax purposes as follows:
December 31, |  | 2012 |  |  | 2011 |  |  | 2010 |
Ordinary income |  | $ | 1.20 |  |  | $ | 1.57 |  |  | $ | 1.84 |
Return of capital |  |  | .40 |  |  |  | .03 |  |  |  | .20 |
Total |  | $ | 1.60 |  |  | $ | 1.60 |  |  | $ | 2.04 |
Schedule of Earnings Per Share Reconciliation [Table Text Block] | The following is a reconciliation of the denominator of the basic net earnings per common share computation to the denominator of the diluted net earnings per common share computation for each of the periods presented:
|  | Year Ended December 31, |
|  | 2012 |  |  | 2011 |  |  | 2010 |
Weighted average number of common shares outstanding |  |  | 11,321,498 |  |  |  | 9,854,285 |  |  |  | 9,322,509 |
Unvested restricted stock |  |  | 250,180 |  |  |  | 216,920 |  |  |  | 166,850 |
Weighted average number of common shares outstanding used in basic earnings per share |  |  | 11,071,318 |  |  |  | 9,637,365 |  |  |  | 9,155,659 |
Weighted average number of common shares outstanding used in basic earnings per share |  |  | 11,071,318 |  |  |  | 9,637,365 |  |  |  | 9,155,659 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
Restricted stock |  |  | 65,592 |  |  |  | 43,867 |  |  |  | 35,841 |
Weighted average number of common shares outstanding used in diluted earnings per share |  |  | 11,136,910 |  |  |  | 9,681,232 |  |  |  | 9,191,500 |

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- Definition Tabular disclosure of all or some of the information related to dividends declared, but not paid, as of the financial reporting date. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4304-108586 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 95 -Paragraph 32 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of the reconciliation of basic net earnings per share (or unit) to diluted earnings per share (or unit). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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