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Segments (Tables) | 12 Months Ended
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Dec. 31, 2013
Segments [Abstract] |
Net Operating Income by Segment | The following tables reconcile the Company's segment activity to its results of operations and financial position as of and for the years ended December 31, 2013 and 2012, respectively.
|  | Year Ended |
|  | December 31, 2013 |  |  | December 31, 2012 |
Industrial/Office Properties: |  |  |  |  |  |
Rental income |  | $ | 10,448,256 |  |  | $ | 8,994,345 |
Property and related expenses |  |  | 3,629,413 |  |  |  | 2,979,251 |
Asset impairment |  |  | 2,000,000 |  |  |  | - |
Net operating income, as defined |  |  | 4,818,843 |  |  |  | 6,015,094 |
Residential Properties: |  |  |  |  |  |  |  |
Rental income |  |  | 2,995,612 |  |  |  | 2,921,813 |
Property and related expenses |  |  | 195,752 |  |  |  | 354,655 |
Asset impairment |  |  | - |  |  |  | 98,000 |
Net operating income, as defined |  |  | 2,799,860 |  |  |  | 2,469,158 |
Retail Properties: |  |  |  |  |  |  |  |
Rental income |  |  | 2,878,145 |  |  |  | 2,862,846 |
Property and related expenses |  |  | 861,327 |  |  |  | 767,677 |
Asset impairment |  |  | - |  |  |  | 300,000 |
Net operating income, as defined |  |  | 2,016,818 |  |  |  | 1,795,169 |
Self-Storage Properties: |  |  |  |  |  |  |  |
Rental income |  |  | 3,241,109 |  |  |  | 2,889,963 |
Property and related expenses |  |  | 1,695,933 |  |  |  | 1,453,354 |
Net operating income, as defined |  |  | 1,545,176 |  |  |  | 1,436,609 |
Reconciliation to Net Income Available to Common Stockholders |
Reconciliation to Net Income Available to Common Stockholders: |  |  |  |  |  |
Total net operating income, as defined, for reportable segments |  | $ | 11,180,697 |  |  |  | 11,716,030 |
Unallocated other income: |  |  |  |  |  |  |  |
Total other income |  |  | 116,602 |  |  |  | 80,427 |
Gain on sale of real estate |  |  | 1,620,109 |  |  |  | 898,220 |
Gain on dissolution of partnership interests |  |  | 372,645 |  |  |  | 372,089 |
General and administrative expenses |  |  | 5,443,652 |  |  |  | 4,752,459 |
Interest expense |  |  | 5,059,912 |  |  |  | 4,493,558 |
Depreciation and amortization |  |  | 5,309,560 |  |  |  | 4,869,467 |
Impairment of real estate owned |  |  | - |  |  |  | 1,278,531 |
Gain on extinguishment of a liability |  |  | - |  |  |  | 691,487 |
Net loss before noncontrolling interests |  |  | (2,523,071 | ) |  |  | (1,635,762 | )
Noncontrolling interests |  |  | 1,566,023 |  |  |  | 497,712 |
Net loss |  | $ | (4,089,094 | ) |  | $ | (2,133,474 | )
Reconciliation of Assets by Segment to Total Assets |
|  | December 31, 2013 |  |  | December 31, 2012 |
Assets: |  |  |  |  |  |
Industrial/Office Properties: |  |  |  |  |  |
Land, buildings and improvements, net (1) |  | $ | 84,458,209 |  |  | $ | 86,695,553 |
Total assets (2) |  |  | 89,813,764 |  |  |  | 90,286,093 |
Residential Property: |  |  |  |  |  |  |  |
Land, buildings and improvements, net (1) |  |  | 23,093,296 |  |  |  | 29,399,405 |
Total assets (2) |  |  | 25,434,100 |  |  |  | 31,869,016 |
Retail Properties: |  |  |  |  |  |  |  |
Land, buildings and improvements, net (1) |  |  | 21,931,330 |  |  |  | 22,613,528 |
Total assets (2) |  |  | 23,354,122 |  |  |  | 23,913,305 |
Self-Storage Properties: |  |  |  |  |  |  |  |
Land, buildings and improvements, net (1) |  |  | 29,972,327 |  |  |  | 26,930,233 |
Total assets (2) |  |  | 31,028,008 |  |  |  | 27,384,412 |
Reconciliation to Total Assets: |  |  |  |  |  |  |  |
Total assets for reportable segments |  |  | 169,629,994 |  |  |  | 173,452,826 |
Other unallocated assets: |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 10,207,001 |  |  |  | 10,746,536 |
Other assets, net |  |  | 1,408,387 |  |  |  | 932,631 |
Total Assets |  | $ | 181,245,382 |  |  | $ | 185,131,993 |
____________
(1) | Includes lease intangibles and the land purchase option related to property acquisitions.
(2) Includes land, buildings and improvements, current receivables, deferred rent receivables and deferred leasing costs and other related intangible assets, all shown on a net basis.
Reconciliation of Capital Expenditures by Segment to Total Real Estate Investments |
|  | Year Ended |
|  | December 31, 2013 |  |  | December 31, 2012 |
Capital Expenditures: |  |  |  |  |  |
Industrial/Office Properties: |  |  |  |  |  |
Acquisition of operating properties |  | $ | - |  |  | $ | 13,625,000 |
Capital expenditures and tenant improvements |  |  | 2,758,787 |  |  |  | 850,847 |
Residential Property: |  |  |  |  |  |  |  |
Acquisition of operating properties |  |  | 4,189,389 |  |  |  | 17,138,295 |
Retail Properties: |  |  |  |  |  |  |  |
Acquisition of operating properties |  |  | 3,650,000 |  |  |  | 1,125,000 |
Capital expenditures and tenant improvements |  |  | 70,235 |  |  |  | 158,005 |
Self-Storage Properties: |  |  |  |  |  |  |  |
Capital expenditures and tenant improvements |  |  | 27,988 |  |  |  | 20,964 |
Acquisition of operating properties, net |  |  | 7,839,389 |  |  |  | 31,888,295 |
Capital expenditures and tenant improvements |  |  | 2,857,010 |  |  |  | 1,029,816 |
Total real estate investments |  | $ | 10,696,399 |  |  | $ | 32,918,111 |

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- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -Paragraph 32 -Subparagraph c -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8736-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8813-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -Paragraph 27, 28 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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