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Note 13 - Segments (Tables) | 12 Months Ended
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Dec. 31, 2020
Notes Tables |
Schedule of Segment Reporting Information, by Segment [Table Text Block] |
|  | For the Year Ended December 31, |
|  | 2020 |  |  | 2019 |
Office/Industrial Properties: |  |  |  |  |  |  |  |
Rental, fees and other income |  | $ | 17,580,472 |  |  | $ | 21,490,215 |
Property and related expenses |  |  | (7,977,561 | ) |  |  | (9,317,720 | )
Net operating income, as defined |  |  | 9,602,911 |  |  |  | 12,172,495 |
Model Home Properties: |  |  |  |  |  |  |  |
Rental, fees and other income |  |  | 4,251,980 |  |  |  | 4,194,489 |
Property and related expenses |  |  | (202,667 | ) |  |  | (193,367 | )
Net operating income, as defined |  |  | 4,049,313 |  |  |  | 4,001,122 |
Retail Properties: |  |  |  |  |  |  |  |
Rental, fees and other income |  |  | 2,971,125 |  |  |  | 2,956,407 |
Property and related expenses |  |  | (2,368,906 | ) |  |  | (899,487 | )
Net operating income, as defined |  |  | 602,219 |  |  |  | 2,056,920 |
Reconciliation to net loss: |  |  |  |  |  |  |  |
Total net operating income, as defined, for reportable segments |  |  | 14,254,443 |  |  |  | 18,230,537 |
General and administrative expenses |  |  | (5,751,754 | ) |  |  | (5,268,315 | )
Depreciation and amortization |  |  | (6,274,321 | ) |  |  | (7,364,688 | )
Interest expense |  |  | (8,813,067 | ) |  |  | (10,649,646 | )
Deferred offering costs |  |  | (530,639 | ) |  |  | — |
Other income (expense), net |  |  | (20,636 | ) |  |  | 117,037 |
Income tax expense |  |  | (370,884 | ) |  |  | (611,263 | )
Gain on sale of real estate |  |  | 1,245,460 |  |  |  | 6,319,272 |
Net loss |  | $ | (6,261,398 | ) |  | $ | 772,934 |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] |
|  | December 31, |  |  | December 31, |
Assets by Reportable Segment: |  | 2020 |  |  | 2019 |
Office/Industrial Properties: |  |  |  |  |  |  |  |
Land, buildings and improvements, net (1) |  | $ | 99,120,649 |  |  | $ | 126,421,648 |
Total assets (2) |  | $ | 100,046,782 |  |  | $ | 131,180,612 |
Model Home Properties: |  |  |  |  |  |  |  |
Land, buildings and improvements, net (1) |  | $ | 42,509,596 |  |  | $ | 48,466,371 |
Total assets (2) |  | $ | 42,246,022 |  |  | $ | 51,389,400 |
Retail Properties: |  |  |  |  |  |  |  |
Land, buildings and improvements, net (1) |  | $ | 24,555,371 |  |  | $ | 25,318,601 |
Total assets (2) |  | $ | 26,108,109 |  |  | $ | 26,588,254 |
Reconciliation to Total Assets: |  |  |  |  |  |  |  |
Total assets for reportable segments |  | $ | 168,400,913 |  |  | $ | 209,158,266 |
Other unallocated assets: |  |  |  |  |  |  |  |
Cash, cash equivalents and restricted cash |  |  | 2,149,088 |  |  |  | 1,591,041 |
Other assets, net |  |  | 15,018,615 |  |  |  | 10,035,101 |
Total Assets |  | $ | 185,568,616 |  |  | $ | 220,784,408 |
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block] |
|  | For the Year Ended December 31, |
Capital Expenditures by Reportable Segment |  | 2020 |  |  | 2019 |
Office/Industrial Properties: |  |  |  |  |  |  |  |
Capital expenditures and tenant improvements |  | $ | 2,825,168 |  |  | $ | 6,373,464 |
Model Home Properties: |  |  |  |  |  |  |  |
Acquisition of operating properties |  |  | 10,161,613 |  |  |  | 13,037,562 |
Retail Properties: |  |  |  |  |  |  |  |
Capital expenditures and tenant improvements |  |  | 9,205 |  |  |  | 20,247 |
Totals: |  |  |  |  |  |  |  |
Acquisition of operating properties, net |  |  | 10,161,613 |  |  |  | 13,037,562 |
Capital expenditures and tenant improvements |  |  | 2,834,373 |  |  |  | 6,393,711 |
Total real estate investments |  | $ | 12,995,986 |  |  | $ | 19,431,273 |

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