NetREIT, Inc. and Subsidiaries

Schedule III - Real Estate and Accumulated Depreciation and Amortization – as of December 31, 2015

All amounts are in thousands			Initial Cost								Total Cost
Property Name/ Location	Loan Balance		Land Cost		Building and Improvements		Acquisition Price		Capitalized Improvements		Land Cost		Building & Improvements		Total Cost		Accumulated Depreciation		Reserve for Impairment		NBV Real Estate
Havana Parker, Aurora , CO	$	2,500	$	1,023	$	4,806	$	5,829		2,603		1,023		7,409	$	8,432	$	2,889	$	3,450	$	2,093
Garden Gateway, CO Springs, CO		6,799		3,035		12,091		15,126		1,335		3,035		13,426		16,461		4,653		—		11,808
Executive Park, CO Springs, CO		4,308		1,266		8,815		10,081		386		1,266		9,201		10,467		2,240		—		8,227
Pacific Oaks Plaza, Escondido, CA		1,557		980		3,868		4,848		143		980		4,011		4,991		780		—		4,211
Morena Center, San Diego, CA		2,289		1,333		5,203		6,536		707		1,333		5,910		7,243		1,474		500		5,269
Genesis Plaza, San Diego, CA		6,500		1,400		8,600		10,000		805		1,400		9,405		10,805		2,407		—		8,398
Dakota Center, Fargo, ND		10,825		832		8,743		9,575		2,752		832		11,495		12,327		1,875		—		10,452
Rangewood Medical, CO Springs		1,027		572		2,058		2,630		384		572		2,442		3,014		707		—		2,307
Shoreline Medical, Half Moon Bay		3,728		1,820		4,530		6,350		—		1,820		4,530		6,350		494		—		5,856
Port of San Diego Complex, SD, CA		10,098		9,613		4,887		14,500		700		9,613		5,587		15,200		1,230		—		13,970
The Presidio, CO Springs, CO		6,000		1,325		5,950		7,275		553		1,325		6,503		7,828		1,185		—		6,643
Bismarck Building, Bismarck, ND		3,252		413		4,926		5,339		419		413		5,345		5,758		854		—		4,904
Union Terrace, Lakewood, CO		6,600		1,717		7,708		9,425		329		1,717		8,037		9,754		1,147		—		8,607
Centennial Tech Center, CO		10,238		2,025		13,475		15,500		48		2,025		13,523		15,548		792		—		14,756
Arapahoe Service Center, CO Springs		8,500		1,420		10,430		11,850		29		1,420		10,459		11,879		578		—		11,301
West Fargo Industrial		4,500		1,693		6,207		7,900		26		1,693		6,233		7,926		94		—		7,832
300 N.P.		—		135		3,715		3,850		116		135		3,831		3,966		57		—		3,909
Highland Court		6,958		3,608		9,442		13,050		474		3,608		9,916		13,524		279		—		13,245
One Park Centre		6,610		1,206		7,944		9,150		141		1,206		8,085		9,291		241		—		9,050
Shea Center II		17,728		2,214		23,747		25,961		—		2,214		23,747		25,961		—		—		25,961
Total Office/ Industrial properties	$	120,017	$	37,630	$	157,145	$	194,775	$	11,950	$	37,630	$	169,095	$	206,725	$	23,976	$	3,950	$	178,799

World Plaza , San Bernardino, CA		—		1,698		6,232		7,930		682		1,698		6,914		8,612		1,959		—		6,653
Regatta Square, Denver, CO		1,184		811		1,369		2,180		71		811		1,440		2,251		392		—		1,859
Waterman Plaza, San Bernardino, CA		—		2,350		4,814		7,164		81		2,350		4,895		7,245		1,068		300		5,877
Yucca Retail Ctr, Yucca Valley, CA		6,000		2,811		5,175		7,986		619		2,811		5,794		8,605		1,415		—		7,190
Union Town Center, CO Springs, CO		8,440		1,750		9,462		11,212		153		1,750		9,615		11,365		424		—		10,941
Research		—		408		2,442		2,850		61		408		2,503		2,911		33		—		2,878
Total Retail properties	$	15,624	$	9,828	$	29,494	$	39,322	$	1,667	$	9,828	$	31,161	$	40,989	$	5,291	$	300	$	35,398

Model Homes -NDMHR, LP		4,804		1,417		7,983		9,400		—		1,417		7,983		9,400		472		—		8,928
Model Homes -DMH LP #201		860		287		1,337		1,624		—		287		1,337		1,624		94		—		1,530
Model Homes-DMH LP #202		2,508		796		4,236		5,032		—		796		4,236		5,032		106		—		4,926
Model Homes-NTMH LLC		878		217		1,311		1,528		—		217		1,311		1,528		23		—		1,505
Total Model Home properties		9,050		2,717		14,867		17,584		—		2,717		14,867		17,584		695		—		16,889
																						—
CONSOLIDATED TOTALS:	$	144,691	$	50,175	$	201,506	$	251,681	$	13,617	$	50,175	$	215,123	$	265,298	$	29,962	$	4,250	$	231,086

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