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Lease Intangibles (Tables)
 12 Months Ended
Dec. 31, 2017
Goodwill And Intangible Assets Disclosure [Abstract]  
Net Value of Other Intangible Assets

Lease intangibles consist of the following:

 

 

 

December 31, 2017

 

 

December 31, 2016

 

 

 

Lease Intangibles

 

 

Accumulated Amortization

 

 

Lease Intangibles, net

 

 

Lease Intangibles

 

 

Accumulated Amortization

 

 

Lease Intangibles, net

 

In-place leases

 

$

4,958,477

 

 

$

(2,899,042

)

 

$

2,059,435

 

 

$

6,180,817

 

 

$

(3,156,194

)

 

$

3,024,623

 

Leasing costs

 

 

3,628,080

 

 

 

(1,990,154

)

 

 

1,637,926

 

 

$

4,632,619

 

 

$

(2,339,434

)

 

 

2,293,185

 

Above-market leases

 

 

510,237

 

 

 

(293,146

)

 

 

217,091

 

 

 

1,850,193

 

 

 

(1,538,348

)

 

 

311,845

 

 

 

$

9,096,794

 

 

$

(5,182,342

)

 

$

3,914,452

 

 

$

12,663,629

 

 

$

(7,033,976

)

 

$

5,629,653

 

 
Amortization Expense for the Company Lease Intangible Assets

Aggregate approximate amortization expense for the Company's lease intangible assets is as follows:

 

 

 

 

 

 

 

 

 

 

 

Years ending December 31:

 

 

 

 

2018

 

$

1,103,919

 

2019

 

 

885,806

 

2020

 

 

697,113

 

2021

 

 

497,459

 

2022

 

 

369,255

 

Thereafter

 

 

360,900

 

Total

 

$

3,914,452