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LEASE INTANGIBLES (Tables) | 9 Months Ended
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Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
Net Value of Other Intangible Assets | The following table summarizes the net value of other intangible assets acquired and the accumulated amortization for each class of intangible asset:
| September 30, 2019 |  |  |  |  |  | December 31, 2018 |  |  |  |
| Lease Intangibles |  | Accumulated Amortization |  | Lease Intangibles, net |  | Lease Intangibles |  | Accumulated Amortization |  | Lease Intangibles, net
In-place leases | $ | 4,360,027 |  |  | $ | (3,188,320) |  |  | $ | 1,171,707 |  |  | $ | 4,958,477 |  |  | $ | (3,467,781) |  |  | $ | 1,490,696 |
Leasing costs | 2,937,977 |  |  | (1,943,128) |  |  | 994,849 |  |  | 3,628,080 |  |  | (2,405,514) |  |  | 1,222,566 |
Above-market leases | 333,485 |  |  | (228,069) |  |  | 105,416 |  |  | 439,878 |  |  | (291,666) |  |  | 148,212 |
| $ | 7,631,489 |  |  | $ | (5,359,517) |  |  | $ | 2,271,972 |  |  | $ | 9,026,435 |  |  | $ | (6,164,961) |  |  | $ | 2,861,474 |
Amortization Expense for the Company Lease Intangible Assets | Future aggregate approximate amortization expense for the Company's lease intangible assets is as follows:
Three months remaining in 2019 | $ | 142,408 |
Years ending December 31: |
2020 | 687,974 |
2021 | 510,215 |
2022 | 360,116 |
2023 | 173,785 |
Thereafter | 397,474 |
Total | $ | 2,271,972 |

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- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
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