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Note 5 - Property and Equipment
 9 Months Ended
Sep. 30, 2024
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

Note 5. Property and equipment

 

The components of property and equipment, net, as of September 30, 2024 and  December 31, 2023 were as follows (in thousands):

 

  

September 30,

  

December 31,

 
  

2024

  

2023

 

Land

 $3,734  $3,734 

Buildings

  15,980   15,980 

Site improvements

  494   494 

Tenant improvements

  3,062   3,062 

Furniture and equipment

  873   868 

Gross property and equipment

 $24,143  $24,138 

Accumulated depreciation

  (3,008)  (2,284)

Property and equipment, net

 $21,135  $21,854 

 

Depreciation expense for property and equipment was $228,000 and $273,000 for the three months ended September 30, 2024 and 2023, respectively. Depreciation expense for property and equipment was $724,000 and $817,000 for the nine months ended September 30, 2024 and 2023, respectively.