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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:    
Net income $ 772,934 $ 4,452,723
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 7,364,688 9,101,605
Stock compensation 686,133 460,651
Bad debt expense (recoveries) (32,544) 110,416
Gain on sale of real estate assets (6,319,272) (12,200,138)
Impairment of real estate assets 0 532,951
Accretion of original issue discount 386,595 0
Amortization of financing costs 965,239 675,087
Amortization of above-market leases 55,466 68,878
Amortization of  below-market leases (185,995) (894,445)
Straight-line rent adjustment (63,895) 45,778
Changes in operating assets and liabilities:    
Other assets 1,035,806 (818,384)
Accounts payable and accrued liabilities (767,440) (1,183,057)
Accrued real estate taxes (106,779) 80,387
Net cash provided by operating activities 3,790,936 432,452
Cash flows from investing activities:    
Real estate acquisitions (13,037,562) (17,326,915)
Buildings and tenant improvements (6,393,711) (3,359,283)
Additions to deferred leasing costs (661,401) (714,596)
Proceeds from sale of real estate assets 32,073,721 46,991,372
Net cash provided by investing activities 11,981,047 25,590,578
Cash flows from financing activities:    
Proceeds from mortgage notes payable, net of issuance costs 15,494,715 20,510,012
Repayment of mortgage notes payable (23,176,581) (31,374,774)
Redemption of mandatorily redeemable Series B Preferred Stock (16,900,000) (13,800,000)
Series B Preferred Stock costs 0 (153,500)
Proceeds from note payable, net of issuance costs 11,479,237 0
Contributions received from noncontrolling interests in excess of distributions paid 331,603 260,872
Repurchase of common stock (227,428) 0
Dividends paid to stockholders (2,158,469) 0
Net cash used in financing activities (15,156,923) (24,557,390)
Net increase in cash, cash equivalents and restricted cash 615,060 1,465,640
Cash, cash equivalents and restricted cash - beginning of year 9,776,215 8,310,575
Cash, cash equivalents and restricted cash - end of year 10,391,275 9,776,215
Supplemental disclosure of cash flow information:    
Interest paid-Series B preferred stock 1,859,672 4,357,694
Interest paid-mortgage notes payable 6,442,750 7,806,068
Interest paid-notes payable 713,262 0
Non-cash investing and financing activities:    
Accrual of dividends payable $ 0 $ 1,075,371