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Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Income Statement [Abstract]        
Rental income $ 11,836,563 $ 10,144,478 $ 22,147,745 $ 19,714,091
Operating expenses:        
General and administrative 1,597,776 1,615,182 3,505,831 3,721,365
Stock compensation expense 660,170 679,747 1,320,339 1,191,612
Depreciation and amortization 3,956,334 3,682,681 7,228,394 6,983,173
Property expenses 1,527,868 1,434,215 3,234,712 3,594,080
Impairment of real estate investment property 0 0 3,499,438 0
Impairment of goodwill 0 0 0 17,320,857
Total operating expenses 7,742,148 7,411,825 18,788,714 32,811,087
Gain on sale of real estate investments 0 720,071 0 7,595,157
Operating income (loss) 4,094,415 3,452,724 3,359,031 (5,501,839)
Other income (expense):        
Interest income 216,841 1,763 270,535 15,198
Interest expense, net of derivative settlements and unrealized gain on interest rate swaps 179,931 (1,197,154) (3,838,861) (2,765,329)
Income from unconsolidated investment in a real estate property 72,773 66,868 128,340 162,332
Loss on early extinguishment of debt 0 0 0 (1,725,318)
Other 65,993 66,143 131,987 132,136
Other income (expense), net 535,538 (1,062,380) (3,307,999) (4,180,981)
Net income (loss) 4,629,953 2,390,344 51,032 (9,682,820)
Less: net (income) loss attributable to noncontrolling interest in Operating Partnership (649,643) (219,214) 166,556 1,708,815
Net income (loss) attributable to Modiv Industrial, Inc. 3,980,310 2,171,130 217,588 (7,974,005)
Preferred stock dividends (921,875) (921,875) (1,843,750) (1,843,750)
Net income (loss) attributable to common stockholders $ 3,058,435 $ 1,249,255 $ (1,626,162) $ (9,817,755)
Net income (loss) per share attributable to common stockholders:        
Net income (loss) per share attributable to common stockholders, basic (in usd per share) $ 0.41 $ 0.17 $ (0.22) $ (1.31)
Net income (loss) per share attributable to common stockholders, diluted (in usd per share) $ 0.35 $ 0.14 $ (0.22) $ (1.31)
Weighted-average number of common shares outstanding:        
Weighted-average number of common shares outstanding, basic (in shares) 7,532,106 7,478,973 7,532,080 7,505,673
Weighted-average number of common shares outstanding, diluted (in shares) 10,638,311 10,221,490 7,532,080 7,505,673
Distributions declared per common share (in usd per share) $ 0.2875 $ 0.2875 $ 0.5750 $ 0.6750