XML 95 R71.htm IDEA: XBRL DOCUMENT v3.20.2
Note 12 - Segments - Operating Income by Segment (Details) - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2020
Mar. 31, 2020
Jun. 30, 2019
Mar. 31, 2019
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
Dec. 31, 2018
Rental, fees and other income $ 6,121,404   $ 7,120,987   $ 13,150,555 $ 14,300,251 $ 28,641,111 $ 32,344,013
Property and related expenses (1,999,834)   (2,526,002)   (4,380,926) (5,289,552) (10,410,574) (10,886,719)
General and administrative expenses (1,278,971)   (1,419,668)   (2,630,316) (3,180,371) (5,268,315) (4,532,703)
Depreciation and amortization (1,622,230)   (1,749,113)   (3,196,756) (3,959,194) (7,364,688) (9,101,605)
Interest expense (2,273,355)   (2,491,870)   (4,827,202) (5,037,073) (10,649,646) (13,041,016)
Other income (expense), net 8,400   4,409   1,405 9,933    
Income tax expense (51,369)   (191,809)   (135,000) (273,239) (611,263) (518,567)
Gain on sale of real estate 334,096   176,392   324,261 1,390,634 6,319,272 12,200,138
Net loss (1,607,534) $ (932,119) (1,076,674) $ (961,937) (2,539,653) (2,038,611) 772,934 4,452,723
Operating Segments [Member]                
Net operating income, as defined 3,275,895   4,594,985   7,923,955 9,010,699 18,230,537 21,457,294
Office/Industrial Properties [Member] | Operating Segments [Member]                
Rental, fees and other income 4,198,849   5,496,096   9,183,790 10,950,249 21,490,215 24,037,363
Property and related expenses (1,657,836)   (2,299,126)   (3,673,459) (4,803,914) (9,317,720) (9,494,885)
Net operating income, as defined 2,541,013   3,196,970   5,510,331 6,146,335 12,172,495 14,542,478
Model Home Properties [Member] | Operating Segments [Member]                
Rental, fees and other income 1,093,015   1,001,918   2,209,745 2,083,602 4,194,489 4,642,159
Property and related expenses (55,531)   (48,187)   (101,791) (98,609) (193,367) (174,238)
Net operating income, as defined 1,037,484   953,731   2,107,954 1,984,993 4,001,122 4,467,921
Retail Properties [Member] | Operating Segments [Member]                
Rental, fees and other income 829,540   622,973   1,757,020 1,266,400 2,956,407 3,664,491
Property and related expenses (1,132,142)   (178,689)   (1,451,350) (387,029) (899,487) (1,217,596)
Net operating income, as defined $ (302,602)   $ 444,284   $ 305,670 $ 879,371 $ 2,056,920 $ 2,446,895