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Note 5 - Lease Intangibles | 9 Months Ended
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Sep. 30, 2020
Notes to Financial Statements |
Intangible Assets Disclosure [Text Block] | 5. LEASE INTANGIBLES The following table summarizes the net value of other intangible assets acquired and the accumulated amortization for each class of intangible asset:
|  | September 30, 2020 |  |  | December 31, 2019 |
|  | Lease |  |  | Accumulated |  |  | Lease |  |  | Lease |  |  | Accumulated |  |  | Lease |
|  | Intangibles |  |  | Amortization |  |  | Intangibles, net |  |  | Intangibles |  |  | Amortization |  |  | Intangibles, net |
In-place leases |  | $ | 3,186,889 |  |  | $ | (2,740,785 | ) |  | $ | 446,104 |  |  | $ | 4,360,027 |  |  | $ | (3,283,027 | ) |  | $ | 1,077,000 |
Leasing costs |  |  | 1,800,921 |  |  |  | (1,542,960 | ) |  |  | 257,961 |  |  |  | 2,937,976 |  |  |  | (2,002,711 | ) |  |  | 935,265 |
Above-market leases |  |  | 333,485 |  |  |  | (278,751 | ) |  |  | 54,734 |  |  |  | 333,485 |  |  |  | (240,739 | ) |  |  | 92,746 |
|  | $ | 5,321,295 |  |  | $ | (4,562,496 | ) |  | $ | 758,799 |  |  | $ | 7,631,488 |  |  | $ | (5,526,477 | ) |  | $ | 2,105,011 |
As of September 30, 2020 there were no gross lease intangible assets included in real estate assets held for sale. As of December 31, 2019, there was $2.3 million of gross lease intangible assets included in real estate assets held for sale, with $1.4 million of accumulated amortization related to the lease intangible assets netted against real estate assets held for sale. The net value of acquired intangible liabilities was $187,000 and $310,000 relating to below-market leases as of September 30, 2020 and December 31, 2019, respectively. Future aggregate approximate amortization expense for the Company's lease intangible assets is as follows:
Three months remaining in 2020 |  | $ | 132,584 |
Years ending December 31: |  |  |  |
2021 |  |  | 372,484 |
2022 |  |  | 202,479 |
2023 |  |  | 17,663 |
2024 |  |  | 17,663 |
Thereafter |  |  | 15,926 |
Total |  | $ | 758,799 |
The weighted average remaining amortization period of the intangible assets as of September 30, 2020 is 1.6 years.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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