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LEASE INTANGIBLES (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Net Value of Other Intangible Assets

Lease intangibles consist of the following:

			December 31, 2019																														December 31, 2018
			Lease Intangibles						Accumulated Amortization						Lease Intangibles, net						Lease Intangibles						Accumulated Amortization						Lease Intangibles, net
In-place leases			$	4,360,027					$	(3,283,027)					$	1,077,000					$	4,958,477					$	(3,467,781)					$	1,490,696
Leasing costs			2,937,976						(2,002,711)						935,265						3,628,080						(2,405,514)						1,222,566
Above-market leases			333,485						(240,739)						92,746						439,878						(291,666)						148,212
			$	7,631,488					$	(5,526,477)					$	2,105,011					$	9,026,435					$	(6,164,961)					$	2,861,474

Amortization Expense for the Company Lease Intangible Assets

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

Year ending December 31,
2020			$	687,974
2021			510,215
2022			360,116
2023			173,785
2024			118,989
Thereafter			253,932
Total			$	2,105,011

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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.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
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Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

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-Name Accounting Standards Codification
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-SubTopic 30
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