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Mortgage Notes Payable (Tables) | 9 Months Ended
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Sep. 30, 2012
Mortgage Loans On Real Estate [Abstract] |
Mortgage Notes Payable [Table Text Block] |
4. MORTGAGE NOTES PAYABLE |  |  |  |  |
Mortgage notes payable as of September 30, 2012 and December 31, 2011 consisted of the following:
| September 30, |  | December 31,
| 2012 |  | 2011
Mortgage note payable in monthly installments of $24,330 |  |  |  |  |
through July 1, 2016, including interest at a fixed rate of 6.51%; |  |  |  |  |
collateralized by the Havana/Parker Complex property. | $ | 3,183,162 |  | $ | 3,242,767
Mortgage note payable in monthly installments of $71,412 through April 5, |  |  |  |  |
2014, including interest at a fixed rate of 6.08%; collateralized by the leases |  |  |  |  |
and office buildings of the Garden Gateway Plaza property. Certain |  |  |  |  |
obligations under the note are guaranteed by the executive officers. |  | 9,321,619 |  |  | 9,533,849
Mortgage note payable in monthly installments of $28,865 through March 1, |  |  |  |  |
2034, including interest at a variable rate ranging from 5.5% to 10.5%; |  |  |  |  |
with a current rate of 5.5% collateralized by the |  |  |  |  |
Sparky’s Thousand Palms Self-Storage property. |  | 4,353,391 |  |  | 4,431,783
Mortgage note payable in monthly installments of $10,764 through December |  |  |  |  |
18, 2016, including interest at a fixed rate of 6.25%; collateralized by the |  |  |  |  |
Sparky’s Hesperia East Self-Storage property. |  | 1,673,767 |  |  | 1,690,301
Mortgage note payable in monthly installments of $17,226 through May 3, 2012, |  |  |  |  |
including interest at a fixed rate of 5.00%; monthly installments of $19,323 from |  |  |  |  |
June 3, 2012, including interest at 6.25% to maturity, or May 15, 2015; |  |  |  |  |
collateralized by the Sparky’s Rialto Self-Storage property. |  | 2,785,127 |  |  | 2,820,793
Mortgage note payable in monthly installments of $28,219 through September 1, |  |  |  |  |
2015, including interest at a fixed rate of 4.65%; collateralized |  |  |  |  |
by the Genesis Plaza property. |  | 4,768,306 |  |  | 4,854,307
Mortgage note payable in monthly installments of $26,962 through July 1, |  |  |  |  |
2025, including interest at a fixed rate of 5.79% through July 1, 2018; |  |  |  |  |
collateralized by the Executive Office Park property. |  | 4,526,811 |  |  | 4,572,161
Mortgage note payable in monthly installments sufficient to amortize the note |  |  |  |  |
on a 25 year schedule and the current month interest charge (currently, |  |  |  |  |
approximately $36,200), interest at a variable rate of 3.0% over the one month |  |  |  |  |
libor with a floor of 5.75% (current rate) and a ceiling of 9.75% through |  |  |  |  |
May 31, 2016; collateralized by the Dakota Bank Building property. |  | 5,560,002 |  |  | 5,640,568
Mortgage note payable in monthly installments of $23,919 through April 11, |  |  |  |  |
2015, including interest at a fixed rate of 5.62%; collateralized |  |  |  |  |
by the Yucca Valley Retail Center. |  | 3,229,266 |  |  | 3,304,120
Mortgage note payable in monthly installments of $9,858 through January 1, |  |  |  |  |
2019, including interest at a fixed rate of 4.95%; collateralized |  |  |  |  |
by the Rangewood Medical Office Building. |  | 1,229,158 |  |  | 1,150,000
Mortgage note payable in monthly installments of $7,562 through January 1, |  |  |  |  |
2019, including interest at a fixed rate of 4.95%; collateralized |  |  |  |  |
by Regatta Square. |  | 1,279,784 |  |  | 1,300,000
Mortgage note payable in monthly installments of $82,537 through June 20, |  |  |  |  |
2013, including interest at a variable rate of 1% over a published prime rate |  |  |  |  |
with no rate ceiling and a floor of 6% (the current rate); |  |  |  |  |
collateralized by the Port of San Diego Complex. |  | 9,233,238 |  |  | 9,500,000
Mortgage note payable in monthly installments of $13,896 through June 1, |  |  |  |  |
2021, including interest at a fixed rate of 4.5% subject to reseting at the 3rd |  |  |  |  |
and 6th anniversary to the lender's current rate on similar loans; |  |  |  |  |
collateralized by the Morena Office Center. |  | 2,481,814 |  |  | -
Mortgage note payable in monthly installments of $9,450 through June 1, |  |  |  |  |
2021, including interest at a fixed rate of 4.5% subject to reseting at the 3rd |  |  |  |  |
and 6th anniversary to the lender's current rate on similar loans; |  |  |  |  |
collateralized by the Pacific Oaks Plaza. |  | 1,687,631 |  |  | -
Mortgage note payable in monthly installments of $26,043 through June 1, |  |  |  |  |
2021, including interest at a fixed rate of 5.1% subject to reseting at the 3rd |  |  |  |  |
and 6th anniversary to the lender's current rate on similar loans; |  |  |  |  |
collateralized by the Shoreline Medical Office Building. |  | 4,094,127 |  |  | -
Subtotal, NetREIT, Inc. properties |  | 59,407,203 |  |  | 52,040,649
Mortgage notes payable in monthly installments of $20,588 through February 10, |  |  |  |  |
2014, including interest at a fixed rate of 5.50%; |  |  |  |  |
collateralized by 7 model home properties. |  | 1,666,083 |  |  | 1,779,823
Mortgage notes payable in monthly installments of $3,767 through September |  |  |  |  |
15, 2012, including interest at a fixed rate of 5.75%; |  |  |  |  |
collateralized by 4 model home properties. (1) |  | 412,807 |  |  | 428,203
Mortgage notes payable in monthly installments of $13,273 through December |  |  |  |  |
15, 2015, including interest at a fixed rate of 5.75%; |  |  |  |  |
collateralized by 14 model home properties. |  | 1,473,714 |  |  | 2,205,798
Mortgage notes payable in monthly installments of $1,357; maturity date |  |  |  |  |
of March 5, 2012; including interest at fixed rate of 2.55%; |  |  |  |  |
collateralized by 1 model home property. |  | - |  |  | 66,985
Mortgage notes payable in monthly installments of $20,507 maturities varying |  |  |  |  |
from February 15, 2016 to August 15, 2016, including interest at |  |  |  |  |
fixed rates from 5.75%, to 6.30%; collateralized by 19 model home properties. |  | 1,878,864 |  |  | 2,747,709
Mortgage notes payable in monthly installments of $31,064, maturities varying |  |  |  |  |
from June 30, 2012 to June 15, 2017, including interest at |  |  |  |  |
fixed rates from 5.50%, to 7.13%; collateralized by 16 model home properties. (1) |  | 3,624,377 |  |  | 389,622
Mortgage notes payable in monthly installments of $35,594, maturities varying |  |  |  |  |
from April 15, 2017 to June 15, 2017, including interest at a fixed rate of 5.50%; |  |  |  |  |
collateralized by 20 model home properties. |  | 4,285,333 |  |  | -
Subtotal, model home properties |  | 13,341,178 |  |  | 7,618,140
| $ | 72,748,381 |  | $ | 59,658,789
Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block] |
|  |  |  |  |  | Model Home |  |  |
|  |  | NetREIT, Inc. |  |  | Properties |  |  | Scheduled
|  |  | Principal |  |  | Principal |  |  | Principal
Years Ending: |  |  | Payments |  |  | Payments |  |  | Payments
Three month period ending December 31, 2012 |  | $ | 499,099 |  | $ | 354,977 |  | $ | 854,076
2013 |  |  | 10,337,165 |  |  | 697,649 |  |  | 11,034,814
2014 |  |  | 9,969,486 |  |  | 2,039,772 |  |  | 12,009,258
2015 |  |  | 10,867,662 |  |  | 2,155,302 |  |  | 13,022,964
2016 |  |  | 10,151,071 |  |  | 2,120,198 |  |  | 12,271,269
Thereafter |  |  | 17,582,720 |  |  | 5,973,280 |  |  | 23,556,000
Total |  | $ | 59,407,203 |  | $ | 13,341,178 |  | $ | 72,748,381

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- Definition Tabular disclosure of the aggregate amount of payments due on known contractual obligations for the five years following the date of the latest balance sheet and the combined aggregate amount of maturities of known contractual obligations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 303 -Paragraph a -Subparagraph 5 + Details
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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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