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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2013
Accounting Policies [Abstract] |
Schedule of Derivative Liabilities at Fair Value [Table Text Block] | The ta ble below sets forth the Company’s fair value hierarchy for assets and liabilities measured or disclosed at fair value as of December 31, 2013.
|  |  |  |  |  |  |  |  |  |  | Carrying |
Asset: |  | Level 1 |  | Level 2 |  | Level 3 |  | Value |
Interest rate swaps |  | $ | - |  | $ | 679,234 |  | $ | - |  | $ | 679,234 |
|  |  |  |  |  |  |  |  |  |  | Carrying |
Liability: |  | Level 1 |  | Level 2 |  | Level 3 |  | Value |
Interest rate swap |  | $ | - |  | $ | 204,696 |  | $ | - |  | $ | 204,696 |
Mortgage notes payable |  | $ | - |  | $ | - |  | $ | 108,385,281 |  | $ | 113,897,758 |
Unsecured revolving credit facility |  | $ | - |  | $ | 9,500,000 |  | $ | - |  | $ | 9,500,000 |
Unsecured term loan |  | $ | - |  | $ | - |  | $ | 32,728,011 |  | $ | 35,000,000 |
The table below sets forth the Company’s fair value hierarchy for liabilities measured or disclosed at fair value as of December 31, 2012.
|  |  |  |  |  |  |  |  |  |  | Carrying |
Liability: |  | Level 1 |  | Level 2 |  | Level 3 |  | Value |
Interest rate swaps |  | $ | - |  | $ | 1,337,998 |  | $ | - |  | $ | 1,337,998 |
Mortgage notes payable |  | $ | - |  | $ | - |  | $ | 119,581,000 |  | $ | 117,376,142 |
Unsecured revolving credit facility |  | $ | - |  | $ | 43,530,005 |  | $ | - |  | $ | 43,530,005 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | The following table represents estimated future aggregate amortization expense related to deferred expenses as of December 31, 2013.
Year Ending December 31, |  |  |  |
2014 |  | $ | 2,856,168 |
2015 |  |  | 2,551,978 |
2016 |  |  | 2,423,747 |
2017 |  |  | 2,330,506 |
2018 |  |  | 2,198,622 |
Thereafter |  |  | 18,629,283 |
Total |  | $ | 30,990,304 |
Schedule of Dividends Payable [Table Text Block] | The Company declared dividends of $1.64, $1.60 and $1.60 per share during the years ended December 31, 2013, 2012, and 2011; the dividends have been reflected for federal income tax purposes as follows:
December 31, |  | 2013 |  | 2012 |  | 2011 |
Ordinary income |  | $ | 1.372 |  | $ | 1.200 |  | $ | 1.570 |
Return of capital |  |  | .268 |  |  | .400 |  |  | .030 |
Total |  | $ | 1.640 |  | $ | 1.600 |  | $ | 1.600 |
Schedule of Earnings Per Share, Basic and Diluted [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, |
|  | 2013 |  | 2012 |  | 2011 |
Weighted average number of common shares outstanding |  | 13,314,989 |  | 11,321,498 |  | 9,854,285 |
Unvested restricted stock |  | 249,082 |  | 250,180 |  | 216,920 |
Weighted average number of common shares outstanding used in basic earnings per share |  | 13,065,907 |  | 11,071,318 |  | 9,637,365 |
Weighted average number of common shares outstanding used in basic earnings per share |  | 13,065,907 |  | 11,071,318 |  | 9,637,365 |
Effect of dilutive securities: |  |  |  |  |  |  |
Restricted stock |  | 91,598 |  | 65,592 |  | 43,867 |
Weighted average number of common shares outstanding used in diluted earnings per share |  | 13,157,505 |  | 11,136,910 |  | 9,681,232 |

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