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INTEREST RATE SWAP DERIVATIVES (Tables)
 9 Months Ended
Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of the Notional Amount and Other Information Related to Interest Rate Swaps
The following table summarizes the notional amount and other information related to the Company’s interest rate swaps as of September 30, 2021 and December 31, 2020, respectively:
September 30, 2021December 31, 2020
Derivative
Instruments		Number of InstrumentsNotional
Amount (i)		Reference
Rate (ii)		Weighted Average Fixed Pay RateWeighted
Average
Remaining
Term		Number
of
Instruments		Notional
Amount (i)		Reference
Rate (iii)		Weighted Average Fixed Pay RateWeighted
Average
Remaining
Term
Interest Rate Swap Derivatives (iv)4$26,171,300 
One-month LIBOR + applicable spread/Fixed at 4.05%-5.16%
4.53 %2.3 years8$36,617,164 
One-month LIBOR + applicable spread/Fixed at 3.13%-5.16%
3.35 %2.2 years
(i)The notional amount of the Company’s swaps decreases each month to correspond to the outstanding principal balance on the related mortgage. The minimum notional amounts (outstanding principal balance at the maturity date) as of September 30, 2021 and December 31, 2020 were $24,935,999 and $34,989,063, respectively.
(ii)The reference rate was as of September 30, 2021.
(iii)The reference rate was as of December 31, 2020.
(iv)During the three months ended September 30, 2020, the Company terminated the swap agreements related to the Rite Aid and Island Pacific properties at aggregate costs of $52,200. No termination of swap agreements were made during the three months ended September 30, 2021. During the nine months ended September 30, 2021 and 2020, the Company terminated swap agreements related to the GSA and Eco-Thrift properties at aggregate costs of $23,900 and terminated the swap agreements related to the Dinan, Rite Aid and Island Pacific properties at aggregate costs of $99,200, respectively.
Summary of the Fair Value of Derivative Instruments and Their Classification
The following table sets forth the fair value of the Company’s derivative instruments (Level 2 measurement), as well as their classification in the unaudited condensed consolidated balance sheets:
September 30, 2021December 31, 2020
Derivative InstrumentBalance Sheet LocationNumber of
Instruments		Fair ValueNumber of
Instruments		Fair Value
Interest Rate SwapsAsset - Interest rate swap derivatives, at fair value—$— —$— 
Interest Rate SwapsLiability - Interest rate swap derivatives, at fair value4$(1,073,998)8$(1,743,889)