XML 40 R27.htm IDEA: XBRL DOCUMENT
v3.24.3

OPERATING LEASES (Tables) | 12 Months Ended
--- | ---
Jul. 31, 2024
Operating Leases |
Schedule of revenues by lease and non-lease components |
Schedule of revenues by lease and non-lease components |  |  |  |  |  |  |  |
|  | Years Ended July 31, |
|  | 2024 |  |  | 2023 |
Base rent – fixed |  | $ | 19,762,211 |  |  | $ | 20,541,387 |
Reimbursements of common area costs |  |  | 771,496 |  |  |  | 936,438 |
Non-lease components (real estate taxes) |  |  | 1,059,557 |  |  |  | 1,098,630 |
Rental income |  | $ | 21,593,264 |  |  | $ | 22,576,455 |
|  | Years Ended July 31, |
|  | 2024 |  |  | 2023 |
Base rent – fixed |  |  |  |  |  |  |  |
Company owned property |  | $ | 13,107,528 |  |  | $ | 13,856,697 |
Leased property |  |  | 6,654,683 |  |  |  | 6,684,690 |
|  |  | 19,762,211 |  |  |  | 20,541,387 |
Reimbursements of common area costs & Non lease components (real estate taxes) |  |  |  |  |  |  |  |
Company owned property |  |  | 1,127,841 |  |  |  | 1,322,923 |
Leased property |  |  | 703,212 |  |  |  | 712,145 |
|  |  | 1,831,053 |  |  |  | 2,035,068 |
Total |  | $ | 21,593,264 |  |  | $ | 22,576,455 |
Schedule of future minimum non-cancelable rental income |
Schedule of future minimum non-cancelable rental income |  |  |  |  |  |  |  |  |  |  |  |
Year Ended July 31, |  | Company Owned Property |  |  | Leased Property |  |  | Total |
2025 |  | $ | 11,482,260 |  |  | $ | 6,022,977 |  |  | $ | 17,505,237 |
2026 |  |  | 8,397,838 |  |  |  | 4,460,999 |  |  |  | 12,858,837 |
2027 |  |  | 7,081,987 |  |  |  | 4,114,812 |  |  |  | 11,196,799 |
2028 |  |  | 6,244,415 |  |  |  | 4,068,938 |  |  |  | 10,313,353 |
2029 |  |  | 5,651,205 |  |  |  | 3,243,914 |  |  |  | 8,895,119 |
After 2029 |  |  | 21,719,199 |  |  |  | 6,422,863 |  |  |  | 28,142,062 |
Total |  | $ | 60,576,904 |  |  | $ | 28,334,503 |  |  | $ | 88,911,407 |
Schedule of operating lease right-of-use assets, liabilities and rent expense |
Schedule of operating lease right-of-use assets, liabilities and rent expense |  | Jamaica Avenue at 169th Street |
|  | Increase in Operating Lease Right- of-Use Asset |  |  | Increase in Operating Lease Liability |  |  | Decrease in Monthly Rent Expense |
Remeasurement change resulting from April 2023 lease extension |  | $ | 1,201,952 |  |  | $ | 1,201,952 |  |  | $ | (30,563 | )
Schedule of rental expense |
Schedule of rental expense |  |  |  |  |  |  |  |
|  | Years Ended July 31, |
|  | 2024 |  |  | 2023 |
Sublease income |  | $ | 7,357,895 |  |  | $ | 7,396,835 |
Operating lease cost |  |  | (2,996,055 | ) |  |  | (3,239,348 | )
Excess of sublease income over lease cost |  | $ | 4,361,840 |  |  | $ | 4,157,487 |
Schedule of additional information related to leases |
Schedule of additional information related to leases |  |  |  |  |  |  |  |
|  | Years Ended July 31, |
|  | 2024 |  |  | 2023 |
Other information: |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 2,150,129 |  |  | $ | 2,132,945 |
Schedule of annual undiscounted cash flows of the operating lease liabilities |
Schedule of annual undiscounted cash flows of the operating lease liabilities |  |  |  |
Year ended July 31 |  | Operating Leases |
2025 |  | $ | 2,167,284 |
2026 |  |  | 2,237,257 |
2027 |  |  | 2,328,731 |
2028 |  |  | 2,349,076 |
2029 |  |  | 2,370,098 |
Thereafter |  |  | 21,662,828 |
Total undiscounted cash flows |  |  | 33,115,274 |
Less: present value discount |  |  | (7,805,549 | )
Total Lease Liabilities |  | $ | 25,309,725 |

X
- References No definition available. + Details
Name: | MAYS_DisclosureOperatingLeasesAbstract
Namespace Prefix: | MAYS_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of leases. + References No definition available. + Details
Name: | MAYS_ScheduleOfAdditionalInformationRelatedToLeasesTableTextBlock
Namespace Prefix: | MAYS_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of rental Expenses. + References No definition available. + Details
Name: | MAYS_ScheduleOfRentalExpenseTableTextBlock
Namespace Prefix: | MAYS_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
Name: | us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479773/842-30-50-12 + Details
Name: | us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of components of income from operating lease. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479773/842-30-50-5 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-6A + Details
Name: | us-gaap_OperatingLeaseLeaseIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of supplemental cash flow information for the periods presented. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration