INVESTMENT IN UNCONSOLIDATED ENTITY (Tables)

9 Months Ended

Sep. 30, 2021

Schedule of Equity Method Investments [Line Items]

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