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REAL ESTATE AND ACCUMULATED DEPRECIATION | 12 Months Ended
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Jul. 31, 2021
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract] |
REAL ESTATE AND ACCUMULATED DEPRECIATION | J.W. MAYS, INC. REAL ESTATE AND ACCUMULATED DEPRECIATION July 31, 2021
Col. A |  | Col. B |  | Col. C |  | Col. D |  | Col. E |  | Col. F |  | Col. G |  | Col. H |  | Col. I
|  |  |  | Initial Cost to Company |  | Cost Capitalized Subsequent to Acquisition |  | Gross Amount at Which Carried At Close of Period |  |  |  |  |  |  |  | Life on Which Depreciation in Latest Income Statement is Computed
Description |  | Encumbrances |  | Land |  | Building & Improvements |  | Improvements |  | Carried Cost |  | Land |  | Building & Improvements |  | Total |  | Accumulated Depreciation |  | Date of Construction |  | Date Acquired |
Office and Rental Buildings |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Brooklyn, New York |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fulton Street at Bond Street |  | $ | 3,817,450 |  | $ | 3,901,349 |  | $ | 7,403,468 |  | $ | 24,346,123 |  | $ | — |  |  | $ | 3,901,349 |  | $ | 31,749,591 |  | $ | 35,650,940 |  | $ | 14,787,673 |  | Various |  | Various |  | (1)(2)
Jamaica, New York Jamaica |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Avenue at 169th Street |  |  | — |  |  | — |  |  | — |  |  | 474,359 |  |  | — |  |  |  | — |  |  | 474,359 |  |  | 474,359 |  |  | 82,307 |  | 1959 |  | 1959 |  | (3)
Fishkill, New York Route 9 at |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interstate Highway 84 |  |  | 3,832,182 |  |  | 594,723 |  |  | 7,212,116 |  |  | 14,609,761 |  |  | — |  |  |  | 594,723 |  |  | 21,821,877 |  |  | 22,416,600 |  |  | 9,750,935 |  | 10/74 |  | 11/72 |  | (1)
Brooklyn, New York Jowein |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Building Fulton Street and |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Elm Place |  |  | — |  |  | 1,324,957 |  |  | 728,327 |  |  | 17,179,497 |  |  | — |  |  |  | 1,324,957 |  |  | 17,907,824 |  |  | 19,232,781 |  |  | 6,786,738 |  | 1915 |  | 1950 |  | (1)(2)
Levittown, New York |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hempstead Turnpike |  |  | — |  |  | 125,927 |  |  | — |  |  | — |  |  | — |  |  |  | 125,927 |  |  | — |  |  | 125,927 |  |  | — |  | 4/69 |  | 6/62 |  | (1)
Circleville, Ohio Tarlton Road |  |  | — |  |  | 120,849 |  |  | 4,388,456 |  |  | 86,520 |  |  | — |  |  |  | 120,849 |  |  | 4,474,976 |  |  | 4,595,825 |  |  | 3,140,543 |  | 9/92 |  | 12/92 |  | (1)
Total(A) |  | $ | 7,649,632 |  | $ | 6,067,805 |  | $ | 19,732,367 |  | $ | 56,696,260 |  | $ | — |  |  | $ | 6,067,805 |  | $ | 76,428,627 |  | $ | 82,496,432 |  | $ | 34,548,196 |  |  |  |  |  |
(1) | Building and improvements | 18–40 years
(2) | Improvements to leased property | 3–40 years
(3) | The initial recording of operating lease right-of-use assets of $27.1 million includes adjustments of approximately $10.2 million primarily relating to building and improvements, net of accumulated depreciation, required pursuant to a ground lease with an affiliate, principally owned by a director of the Company (“landlord”). Upon lease termination in 2030, the building and all improvements will be turned over to the landlord as property owner (See Notes 1 and 11 to the Accompanying Consolidated Financial Statements). Leasehold improvements are amortized over the life of the lease.
(A) | Does not include Office Furniture and Equipment and Transportation Equipment in the amount of $363,428 and Accumulated Depreciation thereon of $245,262 at July 31, 2021.
|  | Year Ended July 31,
|  | 2021 |  | 2020
Investment in Real Estate |  |  |  |  |  |  |
Balance at Beginning of Year |  | $ | 80,286,244 |  | $ | 96,333,110 |
Improvements |  |  | 2,210,188 |  |  | 5,840,914 |
Retirements |  |  | — |  |  | (21,887,780 | )
Balance at End of Year |  | $ | 82,496,432 |  | $ | 80,286,244 |
Accumulated Depreciation |  |  |  |  |  |  |
Balance at Beginning of Year |  | $ | 32,805,218 |  | $ | 43,310,270 |
Additions Charged to Costs and Expenses |  |  | 1,742,978 |  |  | 1,626,230 |
Retirements |  |  | — |  |  | (12,131,282 | )
Balance at End of Year |  | $ | 34,548,196 |  | $ | 32,805,218

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- Definition The entire disclosure of real estate investments and associated accumulated depreciation for entities with a significant portion of their business acquiring and holding investment real estate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 28 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -SubTopic 360 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-28) -URI http://asc.fasb.org/extlink&oid=120402810&loc=d3e638233-123024 + Details
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