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Mortgage Notes Payable (Tables) | 12 Months Ended
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Dec. 31, 2014
Mortgage Notes Payable [Abstract] |
Mortgage Notes Payable |
6. MORTGAGE NOTES PAYABLE |  |
Mortgage notes payable consisted of the following at December 31, 2014 and 2013: |  |  |  |
|  |  |  | Principal as of December 31, |  | Loan |  | Interest |  |
Mortgage note property |  | Notes |  | 2014 |  | 2013 |  | Type |  | Rate (1) |  | Maturity
Havana Parker property |  |  | $2,500,000 |  | $3,098,780 |  | Fixed |  | 6.51% |  | 7/1/16
Garden Gateway Plaza |  |  | 6,963,381 |  | 7,119,544 |  | Fixed |  | 5.00% |  | 4/5/20
Waterman property |  |  | 3,368,146 |  | 3,457,973 |  | Fixed |  | 6.50% |  | 9/1/15
Sparky’s Thousand Palms | (2) |  | 4,092,100 |  | 4,215,349 |  | Variable |  | 5.50% |  | 3/1/34
Sparky's Hesperia East | (3) |  | 830,883 |  | 890,774 |  | Variable |  | 4.75% |  | 12/18/22
Sparky's Rialto | (4) |  | 2,119,037 |  | 2,166,791 |  | Fixed (reset) |  | 4.75% |  | 5/3/18
Genesis Plaza |  |  | 4,491,588 |  | 4,618,147 |  | Fixed |  | 4.65% |  | 9/1/15
Executive Office Park | (5) |  | 4,379,854 |  | 4,447,699 |  | Fixed (reset) |  | 5.80% |  | 7/1/25
Dakota Bank Building |  | 10,993,386 |  | 5,417,950 |  | Fixed |  | 4.74% |  | 7/6/24
Yucca Valley Retail Center |  | 2,982,411 |  | 3,095,974 |  | Fixed |  | 5.62% |  | 4/11/15
Rangewood Medical Office Building |  |  | 1,092,778 |  | 1,155,305 |  | Fixed |  | 4.95% |  | 1/1/19
Regatta Square property |  |  | 1,214,799 |  | 1,244,615 |  | Fixed |  | 4.95% |  | 1/1/19
Port of San Diego Complex |  |  | 10,368,228 |  | 10,608,385 |  | Fixed |  | 4.75% |  | 3/5/20
Morena Office Center | (6) |  | 2,351,805 |  | 2,411,282 |  | Fixed (reset) |  | 4.50% |  | 1/1/21
Pacific Oaks Plaza | (6) |  | 1,599,204 |  | 1,639,658 |  | Fixed (reset) |  | 4.50% |  | 6/1/21
Shoreline Medical Office Building | (6) |  | 3,846,697 |  | 3,959,914 |  | Fixed (reset) |  | 5.10% |  | 6/1/22
Sparky's Palm, Joshua and Sunrise |  |  | 7,986,522 |  | 8,116,028 |  | Fixed |  | 4.70% |  | 12/6/22
The Presidio |  |  | 6,000,000 |  | 5,492,375 |  | Fixed |  | 4.54% |  | 12/1/24
Sparky's Lancaster |  |  | 1,903,982 |  | 1,965,504 |  | Fixed |  | 5.00% |  | 6/1/20
Fontana Medical Plaza |  |  | - |  | 1,990,880 |  | Fixed |  | 4.75% |  | 8/28/19
Bismarck Office Building |  |  | 3,321,198 |  | - |  | Fixed |  | 6.12% |  | 10/1/16
Union Terrace Building |  |  | 6,600,000 |  | - |  | Fixed |  | 4.50% |  | 9/5/24
Centennial Tech Center |  |  | 10,250,000 |  | - |  | Fixed |  | 4.34% |  | 12/5/24
Arapahoe Service Center |  |  | 8,500,000 |  | - |  | Fixed |  | 4.34% |  | 1/5/25
Union Town Center |  |  | 8,440,000 |  | - |  | Fixed |  | 4.28% |  | 1/5/25
Subtotal, NetREIT, Inc. properties |  |  | 116,195,999 |  | 77,112,927 |  |  |  |  |  |
Model Home mortgage notes | (7) |  | 7,703,299 |  | 12,438,797 |  | Fixed |  | (7) |  | 2015-19
Mortgage Notes Payable, total |  |  | $123,899,298 |  | $89,551,724 |  |  |  |  |  |
(1) | Interest rates as of December 31, 2014
(2) | Interest at variable rate ranging from 5.50%-10.50%.
(3) | Interest at a variable rate indexed to the 5 year interest rate swap .
(4) | Interest subject to reset; thereafter, monthly payments of $11,982, including interest at rate indexed to 5-year Treasury Rate + 3%
(5) | Interest rate is subject to reset on July 1, 2018.
(6) | Interest rate subject to resetting on the 3rd and 6th loan anniversary.
(7) | Each Model Home has a standalone mortgage note at interest rates ranging from 4.9% to 5.8% (at December 31, 2014).
Scheduled Principal Payments of Mortgage Notes Payable | Scheduled principal payments of mortgage notes payable are as follows:
|  |  |  |  |  | Model Home |  |  |
|  |  | NetREIT, Inc. |  |  | Properties |  |  | Scheduled
|  |  | Principal |  |  | Principal |  |  | Principal
Years Ending December 31: |  |  | Payments |  |  | Payments |  |  | Payments
2015 |  | $ | 12,383,176 |  |  | 410,603 |  |  | 12,793,779
2016 |  |  | 7,085,079 |  |  | 1,122,737 |  |  | 8,207,816
2017 |  |  | 1,501,774 |  |  | 2,210,768 |  |  | 3,712,542
2018 |  |  | 5,641,001 |  |  | 1,546,748 |  |  | 7,187,749
2019 |  |  | 2,413,466 |  |  | 2,412,442 |  |  | 4,825,908
Thereafter |  |  | 87,171,504 |  |  | - |  |  | 87,171,504
Total |  | $ | 116,196,000 |  | $ | 7,703,298 |  | $ | 123,899,298

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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 FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 Reference 2: 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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