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OTHER BALANCE SHEET DETAILS | 9 Months Ended
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Sep. 30, 2024
Payables and Accruals [Abstract] |
OTHER BALANCE SHEET DETAILS | OTHER BALANCE SHEET DETAILS Tenant Deferred Rent and Other Receivables As of September 30, 2024 and December 31, 2023, tenant deferred rent and other receivables consisted of the following:
|  | September 30, 2024 |  | December 31, 2023
Straight-line rent |  | $ | 16,868,726 |  |  | $ | 12,474,137 |
Tenant rent and billed reimbursements |  | 236,608 |  |  | 107,635 |
Unbilled tenant reimbursements |  | 282,785 |  |  | 212,796 |
Total |  | $ | 17,388,119 |  |  | $ | 12,794,568 |
Prepaid Expenses and Other Assets As of September 30, 2024 and December 31, 2023, prepaid expenses and other assets consisted of the following:
|  | September 30, 2024 |  | December 31, 2023
Prepaid expenses |  | $ | 1,528,756 |  |  | $ | 1,445,629 |
Construction advances (1) |  | 199,856 |  |  | 1,352,355 |
Other assets |  | 1,199,770 |  |  | 626,575 |
Deferred financing costs on credit facility revolver |  | 473,643 |  |  | 748,662 |
Total |  | $ | 3,402,025 |  |  | $ | 4,173,221 |
(1) The balance as of September 30, 2024 and December 31, 2023 represents advances for improvements to be made to the Lindsay property in Franklinton, North Carolina. Accounts Payable, Accrued and Other Liabilities As of September 30, 2024 and December 31, 2023, accounts payable, accrued and other liabilities consisted of the following:
|  | September 30, 2024 |  | December 31, 2023
Accounts payable |  | $ | 766,483 |  |  | $ | 562,647 |
Accrued expenses |  | 1,698,283 |  |  | 1,202,115 |
Accrued interest payable |  | 257,232 |  |  | 358,777 |
Unearned rent |  | 1,631,952 |  |  | 2,076,300 |
Security deposits |  | 469,409 |  |  | 82,981 |
Lease incentive obligation |  | 162,065 |  |  | 186,688 |
Total |  | $ | 4,985,424 |  |  | $ | 4,469,508 |

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
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