Mortgage Notes Payable (Tables)

12 Months Ended

Dec. 31, 2015

Mortgage Loans On Real Estate [Abstract]

Mortgage notes payable consisted of the following:

		Principal as of December 31,				Loan	Interest
Mortgage note property	Notes	2015		2014		Type	Rate (1)			Maturity

Waterman Plaza		$	—	$	3,368,146	Fixed		6.50	%	9/1/2015
Havana/Parker Complex			2,500,000		2,500,000	Fixed		6.51	%	7/1/2016
Bismarck Office Building			3,252,016		3,321,198	Fixed		6.12	%	10/1/2016
Sparky's Rialto	(2)		—		2,119,037	Fixed (reset)		4.75	%	5/3/2018
Rangewood Medical Office Building			1,027,085		1,092,778	Fixed		4.95	%	1/1/2019
Regatta Square			1,183,473		1,214,799	Fixed		4.95	%	1/1/2019
Port of San Diego Complex			10,097,726		10,368,228	Fixed		4.75	%	3/5/2020
Garden Gateway Plaza			6,799,229		6,963,381	Fixed		5.00	%	4/5/2020
Sparky's Lancaster			—		1,903,982	Fixed		5.00	%	6/1/2020
West Fargo Industrial			4,500,000		—	Fixed		4.79	%	9/9/2020
Morena Office Center	(3)		2,289,899		2,351,805	Fixed (reset)		4.50	%	1/1/2021
Pacific Oaks Plaza	(3)		1,556,891		1,599,204	Fixed (reset)		4.50	%	6/1/2021
Shoreline Medical Building	(3)		3,727,569		3,846,697	Fixed (reset)		5.10	%	6/1/2022
Highland Court			6,958,147		—	Fixed		3.82	%	9/1/2022
Sparky's Palm, Joshua and Sunrise			—		7,986,522	Fixed		4.70	%	12/6/2022
Sparky's Hesperia East	(4)		—		830,883	Variable		4.75	%	12/18/2022
Dakota Bank Buildings			10,825,201		10,993,386	Fixed		4.74	%	7/6/2024
Union Terrace Building			6,600,000		6,600,000	Fixed		4.50	%	9/5/2024
The Presidio			6,000,000		6,000,000	Fixed		4.54	%	12/1/2024
Centennial Tech Center			10,237,591		10,250,000	Fixed		4.34	%	12/5/2024
Arapahoe Service Center			8,500,000		8,500,000	Fixed		4.34	%	1/5/2025
Union Town Center			8,440,000		8,440,000	Fixed		4.28	%	1/5/2025
Yucca Valley Retail Center			6,000,000		2,982,411	Fixed		5.62	%	4/6/2025
Executive Office Park	(5)		4,307,975		4,379,854	Fixed (reset)		5.80	%	7/1/2025
Genesis Plaza			6,500,000		4,491,588	Fixed		4.65	%	9/6/2025
One Park Centre			6,610,000		—	Fixed		4.77	%	9/5/2025
Shea Center II			17,727,500		—	Fixed		4.92	%	1/5/2026
Sparky’s Thousand Palms	(6)		—		4,092,100	Variable		5.50	%	3/1/2034
Subtotal, NetREIT, Inc. properties			135,640,302		116,195,999
Model Home mortgage notes			9,050,268		7,703,299	Fixed		(7	)	2015-2019
Mortgage Notes Payable, total		$	144,690,570	$	123,899,298

(1)	Interest rates as of December 31, 2015

(2)	Interest subject to reset; thereafter, monthly payments of $11,982, including interest at rate indexed to 5-year Treasury Rate + 3%.

(3)	Interest rate subject to resetting on the 3r ^d and 6 ^th loan anniversary.

(4)	Interest at a variable rate indexed to the 5 year interest rate swap.

(5)	Interest rate is subject to reset on July 1, 2018.

(6)	Interest at variable rate ranging from 5.50%-10.50%.

(7)	Each Model Home has a standalone mortgage note at interest rates ranging from 4.9% to 5.8% (at December 31, 2015).

Scheduled Principal Payments of Mortgage Notes Payable

Scheduled principal payments of mortgage notes payable are as follows:

	Principal Payments				Scheduled
Years Ending December 31:	NetREIT, Inc. Notes Payable		Model Homes Notes Payable		Principal Payments
2016		7,245,568		901,272		8,146,840
2017		1,767,577		1,557,176		3,324,753
2018		5,973,359		1,581,239		7,554,598
2019		2,984,389		1,442,319		4,426,708
2020		2,276,109		3,568,262		5,844,371
Thereafter		115,393,300		-		115,393,300
Total	$	135,640,302	$	9,050,268	$	144,690,570