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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Mar. 31, 2021
Dec. 31, 2020
Real estate assets and lease intangibles:    
Land $ 17,851,741 $ 18,827,000
Buildings and improvements 109,787,999 115,409,423
Tenant improvements 12,032,338 11,960,018
Lease intangibles 4,110,139 4,110,139
Real estate assets and lease intangibles held for investment, cost 143,782,217 150,306,580
Accumulated depreciation and amortization (27,477,471) (26,551,789)
Real estate assets and lease intangibles held for investment, net 116,304,746 123,754,791
Real estate assets held for sale, net 29,043,401 42,499,176
Real estate assets, net 145,348,147 166,253,967
Cash, cash equivalents and restricted cash 6,985,381 11,540,917
Deferred leasing costs, net 1,538,917 1,927,951
Goodwill 2,423,000 2,423,000
Other assets, net 2,846,561 3,422,781
TOTAL ASSETS 159,142,006 185,568,616
Liabilities:    
Mortgage notes payable, net 90,899,959 94,664,266
Mortgage notes payable related to properties held for sale, net 17,785,222 25,365,430
Mortgage notes payable, total net 108,685,181 120,029,696
Note payable, net 0 7,500,086
Accounts payable and accrued liabilities 3,881,486 5,126,199
Accrued real estate taxes 1,525,006 2,548,686
Lease liability, net 95,825 102,323
Below-market leases, net 120,008 139,045
Total liabilities 114,307,506 135,446,035
Commitments and contingencies (Note 9)
Equity:    
Additional paid-in capital 156,463,146 156,463,146
Dividends and accumulated losses (125,334,982) (121,674,505)
Total stockholders' equity before noncontrolling interest 31,223,202 34,883,679
Noncontrolling interest 13,611,298 15,238,902
Total equity 44,834,500 50,122,581
TOTAL LIABILITIES AND EQUITY 159,142,006 185,568,616
Common Class A [Member]    
Equity:    
Series A Common Stock, $0.01 par value, shares authorized: 100,000,000; 9,508,363 shares were both issued and outstanding at March 31, 2021 and December 31, 2020, respectively $ 95,038 $ 95,038