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INVESTMENT IN UNCONSOLIDATED ENTITY (Tables) | 9 Months Ended
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Sep. 30, 2021
Schedule of Equity Method Investments [Line Items] |
Investments | The Company’s investment in unconsolidated entity as of September 30, 2021 and December 31, 2020 is as follows:
|  | September 30, 2021 |  | December 31, 2020
The TIC Interest |  | $ | 9,977,144 |  |  | $ | 10,002,368 |
Entities Equity In Earnings | The Company’s income from investment in unconsolidated entity for the three and nine months ended September 30, 2021 and 2020 is as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2021 |  | 2020 |  | 2021 |  | 2020
The TIC Interest |  | $ | 75,403 |  |  | $ | 92,617 |  |  | $ | 222,705 |  |  | $ | 239,028 |
The TIC Interest |
Schedule of Equity Method Investments [Line Items] |
Summarized Financial Information | The following is summarized financial information for the Santa Clara property as of September 30, 2021 and December 31, 2020 and for the three and nine months ended September 30, 2021 and 2020:
|  | September 30, 2021 |  | December 31, 2020
Assets: |  |  |  |
Real estate investments, net |  | $ | 29,510,151 |  |  | $ | 29,906,146 |
Cash and cash equivalents |  | 670,458 |  |  | 380,774 |
Other assets |  | 176,583 |  |  | 164,684 |
Total assets |  | $ | 30,357,192 |  |  | $ | 30,451,604 |
Liabilities: |  |  |  |
Mortgage note payable, net |  | $ | 13,287,876 |  |  | $ | 13,489,126 |
Below-market lease, net |  | 2,697,183 |  |  | 2,806,973 |
Other liabilities |  | 343,815 |  |  | 92,777 |
Total liabilities |  | 16,328,874 |  |  | 16,388,876 |
Total equity |  | 14,028,318 |  |  | 14,062,728 |
Total liabilities and equity |  | $ | 30,357,192 |  |  | $ | 30,451,604 |
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2021 |  | 2020 |  | 2021 |  | 2020
Total revenues |  | $ | 683,160 |  |  | $ | 697,851 |  |  | $ | 2,034,072 |  |  | $ | 2,047,424 |
Expenses: |  |  |  |  |  |  |  |
Interest expense |  | 138,616 |  |  | 141,935 |  |  | 414,258 |  |  | 424,544 |
Depreciation and amortization |  | 250,754 |  |  | 250,015 |  |  | 750,784 |  |  | 749,913 |
Other expenses |  | 190,086 |  |  | 178,522 |  |  | 562,738 |  |  | 544,225 |
Total expenses |  | 579,456 |  |  | 570,472 |  |  | 1,727,780 |  |  | 1,718,682 |
Net income |  | $ | 103,704 |  |  | $ | 127,379 |  |  | $ | 306,292 |  |  | $ | 328,742 |

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