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Property Held for Lease and Rental Income | 12 Months Ended
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Sep. 27, 2025
Property Held for Lease and Rental Income [Abstract] |
Property Held for Lease and Rental Income | 4. Property Held for Lease and Rental Income At September 27, 2025, the Company owned and operated 101 shopping centers in conjunction with its supermarket operations, which includes one of the three stores that remains temporarily closed due to its location in a shopping center that remains closed as a result of damage sustained during Hurricane Helene which is located in a shopping center. The Company leases a portion of its shopping center properties to third parties. The leases are non-cancelable operating lease agreements for periods ranging up to 20 years. Rental income is included in the line item “Net sales” on the Consolidated Statements of Income. Depreciation on owned properties leased to others and other shopping center expenses are included in the line item “Cost of goods sold” on the Consolidated Statements of Income.
|  | 2025 |  | 2024 |  | 2023
Rents earned on owned and subleased properties: |  |  |  |  |  |  |  |  |
Base rentals |  | $ | 30,559,595 |  | $ | 26,658,958 |  | $ | 24,964,305
Variable rentals |  |  | 141,049 |  |  | 314,009 |  |  | 203,823
Total |  |  | 30,700,644 |  |  | 26,972,967 |  |  | 25,168,128
Depreciation on owned properties leased to others |  |  | (9,262,235) |  |  | (8,620,836) |  |  | (7,788,344)
Direct shopping center expenses, excluding overhead allocations |  |  | (3,981,962) |  |  | (3,819,139) |  |  | (3,752,407)
Total |  | $ | 17,456,447 |  | $ | 14,532,992 |  | $ | 13,627,377
Owned properties leased or held for lease to others under operating leases by major classes are summarized as follows:
|  | September 27, |  | September 28,
|  | 2025 |  | 2024
Land |  | $ | 114,417,119 |  | $ | 112,871,892
Buildings |  |  | 309,855,505 |  |  | 305,862,582
Total |  |  | 424,272,624 |  |  | 418,734,474
Less accumulated depreciation |  |  | (137,362,918) |  |  | (127,936,997)
Total |  | $ | 286,909,706 |  | $ | 290,797,477
The above amounts are included on the Consolidated Balance Sheets in the caption “Property and equipment, net.” The following is a schedule of minimum future rental income on non-cancelable operating leases as of September 27, 2025:
Fiscal Year |  |  |
2026 |  | $ | 21,645,537
2027 |  |  | 18,688,120
2028 |  |  | 16,028,346
2029 |  |  | 12,631,080
2030 |  |  | 9,976,273
Thereafter |  |  | 49,332,572
Total minimum future rental income |  | $ | 128,301,928

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 974 -SubTopic 720 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477728/974-720-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 976 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/976/tableOfContent Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 978 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/978/tableOfContent Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 970 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/970/tableOfContent Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 972 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/972/tableOfContent Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 974 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/974/tableOfContent + Details
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