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LEASE INTANGIBLES (Tables) | 3 Months Ended
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Mar. 31, 2020
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:
| March 31, 2020 |  |  |  |  |  | December 31, 2019 |  |  |  |
| Lease Intangibles |  | Accumulated Amortization |  | Lease Intangibles, net |  | Lease Intangibles |  | Accumulated Amortization |  | Lease Intangibles, net
In-place leases | $ | 3,186,889 |  |  | $ | (2,592,558) |  |  | $ | 594,331 |  |  | $ | 4,360,027 |  |  | $ | (3,283,027) |  |  | $ | 1,077,000 |
Leasing costs | 1,800,922 |  |  | (1,455,228) |  |  | 345,694 |  |  | 2,937,976 |  |  | (2,002,711) |  |  | 935,265 |
Above-market leases | 333,485 |  |  | (253,410) |  |  | 80,075 |  |  | 333,485 |  |  | (240,739) |  |  | 92,746 |
| $ | 5,321,296 |  |  | $ | (4,301,196) |  |  | $ | 1,020,100 |  |  | $ | 7,631,488 |  |  | $ | (5,526,477) |  |  | $ | 2,105,011 |
Amortization Expense for the Company Lease Intangible Assets | Future aggregate approximate amortization expense for the Company's lease intangible assets is as follows:
Nine months remaining in 2020 | $ | 397,753 |
Years ending December 31: |
2021 | 372,484 |
2022 | 202,479 |
2023 | 17,663 |
2024 | 17,663 |
Thereafter | 12,058 |
Total | $ | 1,020,100 |

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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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