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Note 5 - Property and Equipment
 12 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

5. Property and Equipment

 

The components of property and equipment, net, as of  December 31, 2023 and 2022 were as follows (in thousands):

 

  

December 31,

 
  

2023

  

2022

 

Land

 $3,734  $3,734 

Buildings

  15,980   15,980 

Site improvements

  494   470 

Tenant improvements

  3,062   3,016 

Furniture and equipment

  868   851 

Construction in progress

  —   13 

Gross property and equipment

 $24,138  $24,064 

Accumulated depreciation

  (2,284)  (1,200)

Property and equipment, net

 $21,854  $22,864 

 

Depreciation expense for property and equipment was $1,084,000, $804,000 and $310,000 for the years ended December 31, 2023, 2022 and 2021, respectively.