7. MORTGAGE NOTES PAYABLE

Mortgage notes payable consisted of the following:

		Principal as of
		September 30,			December 31,			Loan	Interest
Mortgage note property	Notes	2018			2017			Type	Rate (1)			Maturity
Port of San Diego Complex	(5)		9,359,077			9,575,508		Fixed		4.75	%	3/5/2020
Garden Gateway Plaza			6,303,202			6,445,300		Fixed		5.00	%	4/5/2020
World Plaza	(6)		6,011,564			-		Variable		4.83	%	6/5/2020
West Fargo Industrial			4,311,440			4,365,449		Fixed		4.79	%	8/4/2020
Morena Office Center			2,102,058			2,156,479		Fixed		4.30	%	6/1/2021
Waterman Plaza			3,786,784			3,850,365		Fixed		4.25	%	4/29/2021
Pacific Oaks Plaza			1,429,346			1,466,351		Fixed		4.30	%	6/1/2021
300 N.P.			2,354,328			2,380,703		Fixed		4.95	%	6/11/2022
Highland Court			6,591,783			6,695,541		Fixed		3.82	%	8/28/2022
Dakota Center			10,347,159			10,492,904		Fixed		4.74	%	7/6/2024
Union Terrace Building			6,372,478			6,454,448		Fixed		4.50	%	9/5/2024
The Presidio			6,000,000			6,000,000		Fixed		4.54	%	12/1/2024
Centennial Tech Center			9,773,141			9,908,235		Fixed		4.43	%	1/5/2025
Research Parkway			1,872,419			1,909,012		Fixed		3.94	%	1/5/2025
Arapahoe Service Center			8,255,412			8,364,088		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	(5)		5,952,658			6,000,000		Fixed		4.30	%	4/11/2025
Executive Office Park	(2)		4,965,346			4,151,161		Fixed		5.80	%	7/1/2025
Genesis Plaza			6,500,000			6,500,000		Fixed		4.65	%	8/25/2025
One Park Centre			6,601,714			6,610,000		Fixed		4.77	%	9/5/2025
Shea Center II			17,727,500			17,727,500		Fixed		4.92	%	1/5/2026
Bismarck Office Building	(4)		3,979,105			4,057,752		Fixed		4.02	%	8/1/2037
Subtotal, Presidio Property Trust, Inc. Properties			139,036,514			133,550,796				4.58	%
Model Home mortgage notes			33,585,165			28,454,883		Fixed	(3)			2019-2021
Mortgage Notes Payable		$	172,621,679		$	162,005,679
Unamortized loan costs			(1,789,959	)		(1,682,942	)
Mortgage Notes Payable, net		$	170,831,720		$	160,322,737

(1) Interest rates as of September 30, 2018.

(2) Interest rate is subject to reset on June 1, 2021 and June 1, 2024.

(3) Each model home has a stand-alone mortgage note at interest rates ranging from 3.8% to 5.75% per annum (at September 30, 2018).

(4) Interest rate is subject to reset on September 1, 2023 and on September 1, 2030.

(5) Properties held for sale as of September 30, 2018.

(6) Interest rate is Libor plus 2.75% or 5.75% as of September 30, 2018.

The Company is in compliance with all material conditions and covenants of its mortgage notes payable.

Scheduled principal payments of mortgage notes payable were as follows as of September 30, 2018:

	Presidio Property Trust, Inc.		Model Homes		Principal
	Notes Payable		Notes Payable		Payments
Three months remaining in 2018	$	537,754	$	314,997	$	852,751
Years ending December 31:
2019		2,307,005		12,265,710	$	14,572,715
2020		27,187,327		11,192,731	$	38,380,058
2021		14,518,280		9,811,727	$	24,330,007
2022		10,154,452		-	$	10,154,452
Thereafter		84,331,696		-	$	84,331,696
Total	$	139,036,514	$	33,585,165	$	172,621,679