OTHER INCOME	9 Months Ended
Sep. 30, 2021
OTHER INCOME
OTHER INCOME	NOTE 13 – OTHER INCOME Lease Assignment Fee Income In March 2021, the Company received a one-time $100,000 fee from a tenant in connection with consenting to a lease assignment related to six of its properties; such amount is included in Other income on the consolidated statement of income for the nine months ended September 30, 2021. Insurance Recoveries on Hurricane Casualty In 2020, a portion of a multi-tenanted building at the Company’s Lake Charles, Louisiana property was damaged due to Hurricane Laura and as such, the Company recognized an impairment loss of $430,000 for the damaged portion of the building and recorded a $430,000 receivable, related to its insurance claim, as income on insurance recoveries. The Company submitted a claim to its insurance carrier, subject to a $250,000 minimum deductible, to cover the (i) estimated $2,200,000 cost to rebuild the damaged portion of the building (of which $150,000 was received in 2020 and $975,000 was received from January through September 2021) and (ii) $251,000 of losses in rental income (of which $216,000 was received from the insurance carrier in July 2021). During the three and nine months ended September 30, 2021, the Company recognized a gain of $675,000 and $695,000, respectively, which is included in Other income on the consolidated statements of income. Interest Income on Loan Receivable In December 2020, in connection with a sale of two properties in Houston, Texas, the Company provided a $4,612,500 one-year loan representing 50% of the purchase price as seller-financing to the buyer which was included in other receivables on the consolidated balance sheet at December 31, 2020. The Company received $59,000 of interest income on this loan during the nine months ended September 30, 2021, which is recorded in Other income on the consolidated statements of income. The loan was repaid in full in April 2021.

OTHER INCOME

9 Months Ended

Sep. 30, 2021

NOTE 13 – OTHER INCOME

Lease Assignment Fee Income

In March 2021, the Company received a one-time $100,000 fee from a tenant in connection with consenting to a lease assignment related to six of its properties; such amount is included in Other income on the consolidated statement of income for the nine months ended September 30, 2021.

Insurance Recoveries on Hurricane Casualty

In 2020, a portion of a multi-tenanted building at the Company’s Lake Charles, Louisiana property was damaged due to Hurricane Laura and as such, the Company recognized an impairment loss of $430,000 for the damaged portion of the building and recorded a $430,000 receivable, related to its insurance claim, as income on insurance recoveries.

The Company submitted a claim to its insurance carrier, subject to a $250,000 minimum deductible, to cover the (i) estimated $2,200,000 cost to rebuild the damaged portion of the building (of which $150,000 was received in 2020 and $975,000 was received from January through September 2021) and (ii) $251,000 of losses in rental income (of which $216,000 was received from the insurance carrier in July 2021). During the three and nine months ended September 30, 2021, the Company recognized a gain of $675,000 and $695,000, respectively, which is included in Other income on the consolidated statements of income.

Interest Income on Loan Receivable

In December 2020, in connection with a sale of two properties in Houston, Texas, the Company provided a $4,612,500 one-year loan representing 50% of the purchase price as seller-financing to the buyer which was included in other receivables on the consolidated balance sheet at December 31, 2020. The Company received $59,000 of interest income on this loan during the nine months ended September 30, 2021, which is recorded in Other income on the consolidated statements of income. The loan was repaid in full in April 2021.