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Note 5 - Lease Intangibles | 3 Months Ended
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Mar. 31, 2021
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:
|  | March 31, 2021 |  |  | December 31, 2020 |
|  | Lease |  |  | Accumulated |  |  | Lease |  |  | Lease |  |  | Accumulated |  |  | Lease |
|  | Intangibles |  |  | Amortization |  |  | Intangibles, net |  |  | Intangibles |  |  | Amortization |  |  | Intangibles, net |
In-place leases |  | $ | 3,136,587 |  |  | $ | (2,826,071 | ) |  | $ | 310,516 |  |  | $ | 3,136,587 |  |  | $ | (2,757,530 | ) |  | $ | 379,057 |
Leasing costs |  |  | 1,730,656 |  |  |  | (1,548,144 | ) |  |  | 182,512 |  |  |  | 1,730,656 |  |  |  | (1,510,559 | ) |  |  | 220,097 |
Above-market leases |  |  | 333,485 |  |  |  | (309,449 | ) |  |  | 24,036 |  |  |  | 333,485 |  |  |  | (291,421 | ) |  |  | 42,064 |
|  | $ | 5,200,728 |  |  | $ | (4,683,664 | ) |  | $ | 517,064 |  |  | $ | 5,200,728 |  |  | $ | (4,559,510 | ) |  | $ | 641,218 |
At each of March 31, 2021 and December 31, 2020, gross lease intangible assets of $1.1 million were included in real estate assets held for sale. At each of March 31, 2021 and December 31, 2020, accumulated amortization related to the lease intangible assets of $1.1 million were included in real estate assets held for sale. The net value of acquired intangible liabilities was $0.1 million relating to below-market leases at each of March 31, 2021 and December 31, 2020. Future aggregate approximate amortization expense for the Company's lease intangible assets is as follows:
2021 |  | $ | 248,330 |
2022 |  |  | 202,479 |
2023 |  |  | 17,663 |
2024 |  |  | 17,663 |
2025 |  |  | 17,663 |
Thereafter |  |  | 13,266 |
Total |  | $ | 517,064 |
The weighted average remaining amortization period of the intangible assets as of March 31, 2021 is 1.31 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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