XML 46 R36.htm IDEA: XBRL DOCUMENT
v3.24.3

REAL ESTATE INVESTMENTS, NET - Narrative (Details) |  |  | 1 Months Ended | 3 Months Ended | 9 Months Ended |
--- | --- | --- | --- | --- | --- | ---
Jul. 15, 2024 USD ($) | Aug. 10, 2023 property | Mar. 31, 2023 USD ($) | Sep. 30, 2024 USD ($) ft² state property renewal_option lease | Sep. 30, 2023 USD ($) ft² property | Sep. 30, 2024 USD ($) ft² state property renewal_option lease | Sep. 30, 2023 USD ($) ft² property | Dec. 31, 2023 USD ($) property
Real Estate [Line Items] |  |  |  |  |  |  |  |
Real estate net investment portfolio |  |  |  | $ 468,201,442 |  | $ 468,201,442 |  | $ 473,760,320
Number of real estate properties | property |  |  |  | 43 |  | 43 |  |
Number of states in which entity operates | state |  |  |  | 15 |  | 15 |  |
Total investments in real estate property |  |  |  | $ 531,540,076 |  | $ 531,540,076 |  | $ 524,661,932
Number of real estate properties sold | property |  | 13 |  |  |  |  | 14 |
Number of square feet of aggregate leasable space (in square foot) | ft² |  |  |  | 4,500,000 |  | 4,500,000 |  |
Gain (loss) gain on sale of real estate investments, net |  |  |  | $ 172,001 | $ (1,708,801) | $ 3,359,807 | $ (1,708,801) |
Operating leases extension term |  |  |  | 8 years |  | 8 years |  |
Number of real estate properties, held-for-sale | property |  |  |  |  |  |  |  | 2
Wholly Owned Properties |  |  |  |  |  |  |  |
Real Estate [Line Items] |  |  |  |  |  |  |  |
Number of real estate properties | lease |  |  |  | 42 |  | 42 |  |
Lease Renewal, Scenario One |  |  |  |  |  |  |  |
Real Estate [Line Items] |  |  |  |  |  |  |  |
Operating leases extension term |  |  |  | 5 years |  | 5 years |  |
Lease Renewal, Scenario One | Minimum |  |  |  |  |  |  |  |
Real Estate [Line Items] |  |  |  |  |  |  |  |
Number of renewal options | renewal_option |  |  |  | 1 |  | 1 |  |
Lease Renewal, Scenario One | Maximum |  |  |  |  |  |  |  |
Real Estate [Line Items] |  |  |  |  |  |  |  |
Number of renewal options | renewal_option |  |  |  | 6 |  | 6 |  |
Lease Renewal, Scenario Two |  |  |  |  |  |  |  |
Real Estate [Line Items] |  |  |  |  |  |  |  |
Operating leases extension term |  |  |  | 10 years |  | 10 years |  |
Lease Renewal, Scenario Two | Minimum |  |  |  |  |  |  |  |
Real Estate [Line Items] |  |  |  |  |  |  |  |
Number of renewal options | renewal_option |  |  |  | 1 |  | 1 |  |
Lease Renewal, Scenario Two | Maximum |  |  |  |  |  |  |  |
Real Estate [Line Items] |  |  |  |  |  |  |  |
Number of renewal options | renewal_option |  |  |  | 2 |  | 2 |  |
Tennessee |  |  |  |  |  |  |  |
Real Estate [Line Items] |  |  |  |  |  |  |  |
Impairment charge |  |  | $ 3,499,438 |  |  |  |  |
Acquired Properties |  |  |  |  |  |  |  |
Real Estate [Line Items] |  |  |  |  |  |  |  |
Revenue related to acquisition |  |  |  | $ 3,136,705 | 3,079,272 | $ 9,395,523 | 5,025,967 |
Total investments in real estate property |  |  |  |  | $ 129,753,499 |  | $ 129,753,499 |
Term of contract |  |  |  |  | 20 years 7 months 6 days |  | 20 years 7 months 6 days |
Industrial |  |  |  |  |  |  |  |
Real Estate [Line Items] |  |  |  |  |  |  |  |
Number of real estate properties | property |  |  |  | 39 |  | 39 |  |
Properties acquired | property |  |  |  |  | 12 |  | 12 |
Retail |  |  |  |  |  |  |  |
Real Estate [Line Items] |  |  |  |  |  |  |  |
Revenue related to acquisition |  |  |  |  |  | $ 117,759 |  |
Properties acquired | property |  |  |  |  | 11 |  | 11 |
Office |  |  |  |  |  |  |  |
Real Estate [Line Items] |  |  |  |  |  |  |  |
Properties acquired | property |  |  |  |  | 3 |  | 3 |
Net Proceeds |  |  |  |  |  |  | $ 44,473,792 |
Office And Industrial |  |  |  |  |  |  |  |
Real Estate [Line Items] |  |  |  |  |  |  |  |
Number of square feet of aggregate leasable space (in square foot) | ft² |  |  |  |  | 241,795 |  | 241,795 |
Contract Sale Price |  |  |  |  | $ 47,466,960 |  | $ 47,466,960 |
Gain (loss) gain on sale of real estate investments, net |  |  |  |  |  |  | $ (1,708,801) |
Tampa Florida, Industrial Manufacturing Property Acquisition |  |  |  |  |  |  |  |
Real Estate [Line Items] |  |  |  |  |  |  |  |
Sale leaseback transaction consideration | $ 5,125,000 |  |  |  |  |  |  |
Term of sale leaseback transaction | 20 years |  |  |  |  |  |  |
Initial cap rate | 8.00% |  |  |  |  |  |  |
Weighted average cap rate | 10.59% |  |  |  |  |  |  |
Annual rent escalation | 2.85% |  |  |  |  |  |  |
Asset acquisition, consideration transferred | $ 5,183,443 |  |  |  |  |  |  |
Tampa Florida, Industrial Manufacturing Property Acquisition | Retail |  |  |  |  |  |  |  |
Real Estate [Line Items] |  |  |  |  |  |  |  |
Revenue related to acquisition |  |  |  | $ 117,759 |  |  |  |

X
- Definition Lessor, Operating Lease, Number Of Renewal Options + References No definition available. + Details
Name: | cik0001645873_LessorOperatingLeaseNumberOfRenewalOptions
Namespace Prefix: | cik0001645873_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition Number Of Real Estate Properties, Acquired + References No definition available. + Details
Name: | cik0001645873_NumberOfRealEstatePropertiesAcquired
Namespace Prefix: | cik0001645873_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition Number of Real Estate Properties, Held-for-Sale + References No definition available. + Details
Name: | cik0001645873_NumberOfRealEstatePropertiesHeldForSale
Namespace Prefix: | cik0001645873_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition Number of Real Estate Properties, Sold + References No definition available. + Details
Name: | cik0001645873_NumberOfRealEstatePropertiesSold
Namespace Prefix: | cik0001645873_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | duration

X
- Definition Number of Rentable Square Feet + References No definition available. + Details
Name: | cik0001645873_NumberOfRentableSquareFeet
Namespace Prefix: | cik0001645873_
Data Type: | dtr-types:areaItemType
Balance Type: | na
Period Type: | instant

X
- Definition Sale Leaseback Transaction, Initial Cap Rate + References No definition available. + Details
Name: | cik0001645873_SaleLeasebackTransactionInitialCapRate
Namespace Prefix: | cik0001645873_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Sale Leaseback Transaction, Lease Terms, Annual Rent Escalation + References No definition available. + Details
Name: | cik0001645873_SaleLeasebackTransactionLeaseTermsAnnualRentEscalation
Namespace Prefix: | cik0001645873_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Sale Leaseback Transaction, Weighted Average Cap Rate + References No definition available. + Details
Name: | cik0001645873_SaleLeasebackTransactionWeightedAverageCapRate
Namespace Prefix: | cik0001645873_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Amount of consideration transferred in asset acquisition. Includes, but is not limited to, cash, liability incurred by acquirer, and equity interest issued by acquirer. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 805 -SubTopic 50 -Name Accounting Standards Codification -Section 55 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479908/805-50-55-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 50 -Name Accounting Standards Codification -Section 25 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480060/805-50-25-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 50 -Name Accounting Standards Codification -Section 30 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480027/805-50-30-1 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 50 -Name Accounting Standards Codification -Section 30 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480027/805-50-30-2 + Details
Name: | us-gaap_AssetAcquisitionConsiderationTransferred
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition This element represents the amount of revenue of the acquiree since the acquisition date included in the consolidated income statement for the reporting period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
Name: | us-gaap_BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of consideration received or receivable for the disposal of assets and liabilities, including discontinued operation. + References No definition available. + Details
Name: | us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The net gain (loss) resulting from sales and other disposals of real estate owned for investment purposes. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(9)(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(7)(c)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(7)(a)(8)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(14)(d)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 45 -Paragraph 3 -SubTopic 360 -Topic 944 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477875/944-360-45-3 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 45 -Paragraph 4 -SubTopic 360 -Topic 944 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477875/944-360-45-4 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 360 -Topic 944 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478586/944-360-50-1 + Details
Name: | us-gaap_GainsLossesOnSalesOfInvestmentRealEstate
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The charge against earnings in the period to reduce the carrying amount of real property to fair value. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 360 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-2 + Details
Name: | us-gaap_ImpairmentOfRealEstate
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Term of lessor's operating lease renewal, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479773/842-30-50-3 + Details
Name: | us-gaap_LessorOperatingLeaseRenewalTerm
Namespace Prefix: | us-gaap_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | instant

X
- Definition Term of lessor's operating lease, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479773/842-30-50-3 + Details
Name: | us-gaap_LessorOperatingLeaseTermOfContract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | instant

X
- Definition The number of real estate properties owned as of the balance sheet date. + References No definition available. + Details
Name: | us-gaap_NumberOfRealEstateProperties
Namespace Prefix: | us-gaap_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition The number of states the entity operates in as of the balance sheet date. + References No definition available. + Details
Name: | us-gaap_NumberOfStatesInWhichEntityOperates
Namespace Prefix: | us-gaap_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition Cash received for the sale of real estate that is not part of an investing activity during the current period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482740/230-10-45-12 + Details
Name: | us-gaap_ProceedsFromSaleOfRealEstate
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of real estate investment property which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(1)(d)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(1)(6)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1 + Details
Name: | us-gaap_RealEstateInvestmentPropertyAtCost
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount of real estate investment property, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(1)(d)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(1)(6)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1 + Details
Name: | us-gaap_RealEstateInvestmentPropertyNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 976 -SubTopic 310 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477332/976-310-50-1 + Details
Name: | us-gaap_RealEstateLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Lease term for sale and leaseback transaction, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479741/842-40-50-2 + Details
Name: | us-gaap_SaleLeasebackTransactionLeaseTerm
Namespace Prefix: | us-gaap_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition The net book value of the asset(s) sold in connection with the sale of the property to another party and lease back to the seller. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 840 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481266/840-40-55-50 Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 840 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 52 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481266/840-40-55-52 Reference 3: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 840 -SubTopic 40 -Name Accounting Standards Codification -Section 55 -Paragraph 51 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481266/840-40-55-51 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479741/842-40-50-2 + Details
Name: | us-gaap_SaleLeasebackTransactionNetBookValue
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Details
Name: | us-gaap_RealEstatePropertiesAxis=us-gaap_WhollyOwnedPropertiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | cik0001645873_LeaseRenewalScenarioAxis=cik0001645873_LeaseRenewalScenarioOneMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MinimumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | cik0001645873_LeaseRenewalScenarioAxis=cik0001645873_LeaseRenewalScenarioTwoMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_StatementGeographicalAxis=stpr_TN
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=cik0001645873_AcquiredPropertiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_IndustrialPropertyMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_RetailSiteMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_OfficeBuildingMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=cik0001645873_OfficeAndIndustrialMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_SaleLeasebackTransactionDescriptionAxis=cik0001645873_TampaFloridaIndustrialManufacturingPropertyAcquisitionMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |