v3.10.0.1
DEBT (Details) - USD ($)
 6 Months Ended
Jun. 30, 2018
Dec. 31, 2017
Short Term Debt [LineItems]    
Principal Amount $ 87,630,765 $ 62,228,409
Deferred Loan Costs, net (2,129,310) (1,741,106)
Net Balance $ 85,501,455 60,487,303
Debt Instrument, Description of Variable Rate Basis [1],[2] One-month LIBOR+2.05 %  
Accredo/Walgreen properties [Member]    
Short Term Debt [LineItems]    
Principal Amount $ 7,065,895 7,133,966
Deferred Loan Costs, net (107,771) (124,763)
Net Balance $ 6,958,124 7,009,203
Contractual Interest Rate [1] 3.95%  
Effective Interest Rate [1] 3.95%  
Loan Maturity Jul. 01, 2021  
Dana property [Member]    
Short Term Debt [LineItems]    
Principal Amount $ 4,671,294 4,709,889
Deferred Loan Costs, net (113,139) (125,132)
Net Balance $ 4,558,155 4,584,757
Contractual Interest Rate [1] 4.56%  
Effective Interest Rate [1] 4.56%  
Loan Maturity Apr. 01, 2023  
MorSix Dollar General properties [Member]    
Short Term Debt [LineItems]    
Principal Amount $ 3,916,681 3,951,846
Deferred Loan Costs, net (135,993) (153,290)
Net Balance $ 3,780,688 3,798,556
Contractual Interest Rate [1] 4.69%  
Effective Interest Rate [1] 4.69%  
Loan Maturity Apr. 01, 2022  
Wyndham property [Member]    
Short Term Debt [LineItems]    
Principal Amount [2] $ 5,871,600 5,920,800
Deferred Loan Costs, net [2] (104,096) (109,936)
Net Balance [2] $ 5,767,504 5,810,864
Effective Interest Rate [1],[2] 4.34%  
Loan Maturity [2] Jun. 05, 2027  
Williams Sonoma property [Member]    
Short Term Debt [LineItems]    
Principal Amount [2] $ 4,658,400 4,699,200
Deferred Loan Costs, net [2] (77,067) (85,227)
Net Balance [2] $ 4,581,333 4,613,973
Debt Instrument, Description of Variable Rate Basis [1],[2] One-month LIBOR+2.05 %  
Effective Interest Rate [1],[2] 4.05%  
Loan Maturity [2] Jun. 05, 2022  
Omnicare property [Member]    
Short Term Debt [LineItems]    
Principal Amount $ 4,386,906 4,423,574
Deferred Loan Costs, net (159,155) (169,372)
Net Balance $ 4,227,751 4,254,202
Contractual Interest Rate [1] 4.36%  
Effective Interest Rate [1] 4.36%  
Loan Maturity May 01, 2026  
Harley property [Member]    
Short Term Debt [LineItems]    
Principal Amount $ 6,926,045 6,983,418
Deferred Loan Costs, net (185,658) (200,811)
Net Balance $ 6,740,387 6,782,607
Contractual Interest Rate [1] 4.25%  
Effective Interest Rate [1] 4.25%  
Loan Maturity Sep. 01, 2024  
Northrop Grumman property [Member]    
Short Term Debt [LineItems]    
Principal Amount $ 5,877,911 5,945,655
Deferred Loan Costs, net (183,229) (217,584)
Net Balance $ 5,694,682 5,728,071
Contractual Interest Rate [1] 4.40%  
Effective Interest Rate [1] 4.40%  
Loan Maturity Mar. 02, 2021  
EMCOR property [Member]    
Short Term Debt [LineItems]    
Principal Amount $ 2,935,147 2,955,000
Deferred Loan Costs, net (77,682) (83,743)
Net Balance $ 2,857,465 2,871,257
Contractual Interest Rate [1] 4.35%  
Effective Interest Rate [1] 4.35%  
Loan Maturity Dec. 01, 2024  
Moexp US Services property [Member]    
Short Term Debt [LineItems]    
Principal Amount $ 3,475,886 3,505,061
Deferred Loan Costs, net (131,916) (140,382)
Net Balance $ 3,343,970 3,364,679
Contractual Interest Rate [1],[3]  
Effective Interest Rate [1] 4.25%  
Loan Maturity Nov. 17, 2024  
Mortgage Note Payable Eleven [Member]    
Short Term Debt [LineItems]    
Contractual Interest Rate [4]  
Husqvarna property [Member]    
Short Term Debt [LineItems]    
Principal Amount $ 6,380,000 0
Deferred Loan Costs, net (201,883) 0
Net Balance $ 6,178,117 0
Effective Interest Rate [1] 4.60%  
Loan Maturity Feb. 20, 2028  
AvAir property [Member]    
Short Term Debt [LineItems]    
Principal Amount [5] $ 14,575,000 12,000,000
Deferred Loan Costs, net [5] (349,657) (330,866)
Net Balance [5] $ 14,225,343 11,669,134
Contractual Interest Rate [5],[6]  
Effective Interest Rate [1],[5] 4.84%  
Loan Maturity [5] Mar. 27, 2028  
3M property [Member]    
Short Term Debt [LineItems]    
Principal Amount $ 8,360,000 0
Deferred Loan Costs, net (139,889) 0
Net Balance $ 8,220,111 0
Debt Instrument, Description of Variable Rate Basis [1] One-month LIBOR+2.25 %  
Effective Interest Rate [1] 5.09%  
Loan Maturity Mar. 29, 2023  
Cummins property [Member]    
Short Term Debt [LineItems]    
Principal Amount $ 8,530,000 0
Deferred Loan Costs, net (162,175) 0
Net Balance $ 8,367,825 $ 0
Debt Instrument, Description of Variable Rate Basis [1] One-month LIBOR+2.25 %  
Effective Interest Rate [1] 5.16%  
Loan Maturity Apr. 04, 2023  
[1] Contractual interest rate represents the interest rate in effect under the mortgage note payable as of June 30, 2018. Effective interest rate is calculated as the actual interest rate in effect as of June 30, 2018 (consisting of the contractual interest rate and the effect of the interest rate swap, if applicable). For further information regarding the Company’s derivative instruments (see Note 7).
[2] The loans on each of the Williams Sonoma and Wyndham properties (collectively, the “Property”) located in Summerlin, Nevada were originated by Nevada State Bank (“Bank”). The loans are collateralized by a deed of trust and a security agreement with assignment of rents and fixture filing. In addition, the individual loans are subject to a cross collateralization and cross default agreement whereby any default under, or failure to comply with the terms of any one or both of the loans is an event of default under the terms of both loans. The value of the Property must be in an amount sufficient to maintain a loan to value ratio of no more than 60%. If the loan to value ratio is ever more than 60%, the borrower shall, upon the Bank’s written demand, reduce the principal balance of the loans so that the loan to value ratio is no more than 60%.
[3] The initial contractual interest rate is 4.25% and starting November 18, 2022, the interest rate is T-Bill index plus 3.25%.
[4] The initial contractual interest rate is 4.60% for the first five years and the greater of 4.60% or five-year Treasury Constant Maturity (“TCM”) plus 2.45% for the second five years.
[5] On March 27, 2018, the Company refinanced the mortgage loan payable as of December 31, 2017 with a new loan for $14,575,000 through a nonaffiliated lender. The loan is secured by the AvAir property and it matures on March 27, 2028.
[6] The initial contractual interest rate for the note payable outstanding as of June 30, 2018 is 4.84% for the first five-years and the greater of 4.60% or five-year TCM plus 2.45% for the second five-years.