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Note 5 - Property and Equipment
 12 Months Ended
Dec. 31, 2024
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, 2024 and 2023 were as follows (in thousands):

 

  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

  875   868 

Construction in progress

  55   — 

Gross property and equipment

 $24,200  $24,138 

Accumulated depreciation

  (3,236)  (2,284)

Property and equipment, net

 $20,964  $21,854 

 

Depreciation expense for property and equipment was $952,000, $1,084,000 and $804,000 for the years ended December 31, 2024, 2023 and 2022, respectively.