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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 4,169,000 $ 5,380,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sale of real estate, net (1,110,000) (1,784,000)
Increase in net amortization of unbilled rental income (402,000) (283,000)
Amortization and write-off of intangibles relating to leases, net (252,000) (378,000)
Amortization of restricted stock and RSU compensation expense 1,346,000 1,272,000
Equity in earnings of unconsolidated joint ventures (25,000) (53,000)
Depreciation and amortization 6,545,000 6,021,000
Amortization and write-off of deferred financing costs 233,000 226,000
Payment of leasing commissions (106,000) (4,000)
Decrease in escrow, deposits, other assets and receivables 1,540,000 740,000
Decrease in accrued expenses and other liabilities (942,000) (2,230,000)
Net cash provided by operating activities 10,996,000 8,907,000
Cash flows from investing activities:    
Purchase of real estate (88,838,000)  
Improvements to real estate (1,566,000) (844,000)
Investments in ground leased property (10,000)  
Net proceeds from sale of real estate 3,456,000 2,670,000
Distributions of capital from unconsolidated joint venture 620,000  
Net cash (used in) provided by investing activities (86,338,000) 1,826,000
Cash flows from financing activities:    
Proceeds from mortgage financings 52,121,000 28,000,000
Repayments of mortgages payable (3,539,000) (26,527,000)
Scheduled amortization payments of mortgages payable (2,797,000) (3,046,000)
Proceeds from bank line of credit 5,000,000  
Issuance of shares through dividend reinvestment plan 187,000 1,435,000
Payment of financing costs (591,000) (449,000)
Capital contribution from non-controlling interests   43,000
Distributions to non-controlling interests (63,000) (94,000)
Cash distributions to common stockholders (9,641,000) (9,466,000)
Net cash provided by (used in) financing activities 40,677,000 (10,104,000)
Net (decrease) increase in cash, cash equivalents and restricted cash (34,665,000) 629,000
Cash, cash equivalents and restricted cash at beginning of year 45,481,000 29,592,000
Cash, cash equivalents and restricted cash at end of period 10,816,000 30,221,000
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest expense 5,200,000 $ 4,741,000
Supplemental disclosure of non-cash investing activities:    
Purchase accounting allocation - intangible lease assets 7,888,000  
Purchase accounting allocation - intangible lease liabilities $ (1,155,000)