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ORGANIZATION (Details) | 3 Months Ended
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Mar. 31, 2020 USD ($) ft² property counterparty
Real Estate Properties [Line Items] |
Number of partnerships that purchase and lease back model homes from homebuilders in which the company is the general and limited partner | counterparty | 5
Key provisions of operating or partnership agreement | The Company or one of its affiliates operates the following partnerships during the periods covered by these condensed consolidated financial statements:•The Company is the sole general partner and a limited partner in two limited partnerships (NetREIT Palm Self-Storage LP and NetREIT Casa Grande LP), all with ownership interests in entities that own real estate income producing properties.•The Company is the general and/or limited partner in five limited partnerships that purchase Model Homes and lease them back to homebuilders (Dubose Model Home Investors #202, LP, Dubose Model Home Investors #203, LP, Dubose Model Home Investors #204, LP, Dubose Model Home Investors #205, LP and NetREIT Dubose Model Home REIT, LP). The Company refers to these entities collectively as the “Model Home Partnerships”.The Company has determined that the limited partnerships in which it owns less than 100% should be included in the Company’s consolidated financial statements as the Company directs their activities and has control of such limited partnerships.
Number of limited partnerships in which the company is sole general partner | counterparty | 2
Income tax description | We have elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code (“Code”), for federal income tax purposes. To maintain our qualification as a REIT, we are required to distribute at least 90% of our REIT taxable income to our stockholders and meet the various other requirements imposed by the Code relating to such matters as operating results, asset holdings, distribution levels and diversity of stock ownership.
Percentage of distributed taxable income to qualify as REIT | 90.00%
Long-term maturity debt, remaining in 2019 | $ 20,215,786
Long-term maturity debt, in 2020 | 23,422,230
Model Home |
Real Estate Properties [Line Items] |
Long-term maturity debt, remaining in 2019 | 9,903,239
Long-term maturity debt, in 2020 | 12,949,485
Mortgage Notes Payable |
Real Estate Properties [Line Items] |
Long-term maturity debt, remaining in 2019 | 20,200,000
Long-term maturity debt, in 2020 | 23,400,000
Mortgage Notes Payable | Model Home |
Real Estate Properties [Line Items] |
Long-term maturity debt, remaining in 2019 | 9,900,000
Mortgage Notes Payable | Commercial Property |
Real Estate Properties [Line Items] |
Long-term maturity debt, remaining in 2019 | $ 10,300,000
Industrial Properties |
Real Estate Properties [Line Items] |
No. of Properties | property | 1
Office Properties |
Real Estate Properties [Line Items] |
No. of Properties | property | 10
Office/Industrial Properties |
Real Estate Properties [Line Items] |
Area of real estate property | ft² | 998,016
Retail Properties |
Real Estate Properties [Line Items] |
No. of Properties | property | 4
Area of real estate property | ft² | 131,722
Residential Properties |
Real Estate Properties [Line Items] |
No. of Properties | property | 138
Number of corporations | property | 1
Number of limited partnerships in which the company is sole general partner | counterparty | 5

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