OTHER INCOME	12 Months Ended
Dec. 31, 2021
OTHER INCOME
OTHER INCOME	NOTE 13—OTHER INCOME 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 representing the carrying value of the damaged portion of the building based on its replacement cost (and net of accumulated depreciation of $352,000). The Company submitted a claim to its insurance carrier to cover, less the $263,000 deductible, the (i) approximate $2,306,000 cost to rebuild the damaged portion of the building (of which $150,000, $975,000 and $918,000 were received in 2020, 2021, and February 2022, respectively), and (ii) $259,000 of losses in rental income (of which $216,000 and $43,000 were received in 2021 and February 2022, respectively). The $961,000 received in February 2022 will be recognized in the consolidated statement of income for the three months ending March 31, 2022. The Company recognized a gain on insurance recoveries of $695,000 and $430,000 during the years ended December 31, 2021 and 2020, respectively, which is included in Other income on the consolidated statements of income. Lease Assignment Fee Income In 2021, the Company received a one-time fee of $100,000 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 year ended December 31, 2021. Interest Income on Loan Receivable In December 2020, in connection with a sale of two properties in Houston, Texas (see Note 5), the Company provided the buyer a $4,612,500 one-year loan representing 50% of the purchase price 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 which is recorded in Other income on the consolidated statement of income for the year ended December 31, 2021. The loan was repaid in full in April 2021.

OTHER INCOME

12 Months Ended

Dec. 31, 2021

NOTE 13—OTHER INCOME

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 representing the carrying value of the damaged portion of the building based on its replacement cost (and net of accumulated depreciation of $352,000).

The Company submitted a claim to its insurance carrier to cover, less the $263,000 deductible, the (i) approximate $2,306,000 cost to rebuild the damaged portion of the building (of which $150,000, $975,000 and $918,000 were received in 2020, 2021, and February 2022, respectively), and (ii) $259,000 of losses in rental income (of which $216,000 and $43,000 were received in 2021 and February 2022, respectively). The $961,000 received in February 2022 will be recognized in the consolidated statement of income for the three months ending March 31, 2022. The Company recognized a gain on insurance recoveries of $695,000 and $430,000 during the years ended December 31, 2021 and 2020, respectively, which is included in Other income on the consolidated statements of income.

Lease Assignment Fee Income

In 2021, the Company received a one-time fee of $100,000 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 year ended December 31, 2021.

Interest Income on Loan Receivable

In December 2020, in connection with a sale of two properties in Houston, Texas (see Note 5), the Company provided the buyer a $4,612,500 one-year loan representing 50% of the purchase price 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 which is recorded in Other income on the consolidated statement of income for the year ended December 31, 2021. The loan was repaid in full in April 2021.