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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Real estate assets and lease intangibles:    
Land $ 27,242,954 $ 27,024,601
Buildings and improvements 140,172,074 139,267,377
Tenant improvements 14,968,991 14,282,502
Lease intangibles 5,321,296 5,321,296
Real estate assets and lease intangibles held for investment, cost 187,705,315 185,895,776
Accumulated depreciation and amortization (30,603,911) (29,316,098)
Real estate assets and lease intangibles held for investment, net 157,101,404 156,579,678
Real estate assets held for sale, net 22,090,530 43,626,942
Real estate assets, net 179,191,934 200,206,620
Cash, cash equivalents and restricted cash 8,982,679 10,391,275
Deferred leasing costs, net 1,745,325 2,053,927
Goodwill 2,423,000 2,423,000
Other assets, net 3,999,350 5,709,586
TOTAL ASSETS 196,342,288 220,784,408
Liabilities:    
Mortgage notes payable, net 114,700,145 114,090,245
Mortgage notes payable related to properties held for sale, net 12,423,400 28,302,747
Mortgage notes payable, total net 127,123,545 142,392,992
Note payable, net 7,632,556 12,238,692
Accounts payable and accrued liabilities 4,034,753 5,673,815
Accrued real estate taxes 1,751,297 2,987,601
Lease liability, net 121,203 560,188
Below-market leases, net 267,337 309,932
Total liabilities 140,930,691 164,163,220
Commitments and contingencies (Note 9)
Equity:    
Additional paid-in capital 152,040,300 152,040,300
Dividends and accumulated losses (114,144,274) (113,037,144)
Total stockholders' equity before noncontrolling interest 38,073,664 39,180,794
Noncontrolling interest 17,337,933 17,440,394
Total equity 55,411,597 56,621,188
TOTAL LIABILITIES AND EQUITY 196,342,288 220,784,408
Common Class A    
Equity:    
Series A Common Stock, 0.01 par value, shares authorized: 100,000,000; 17,763,683 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively $ 177,638 $ 177,638
Common stock shares outstanding (in shares) 17,763,683 17,763,683
Common stock shares issued (in shares) 17,763,683 17,763,683