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Note 12 - Segments (Tables)

3 Months Ended

Mar. 31, 2021

Notes Tables

Schedule of Segment Reporting Information, by Segment [Table Text Block]

		For the Three Months Ended March 31,
		2021				2020
Office/Industrial Properties:
Rental, fees and other income		$	3,942,805			$	4,984,942
Property and related expenses			(1,854,272	)			(2,015,624	)
Net operating income, as defined			2,088,533				2,969,318
Model Home Properties:
Rental, fees and other income			943,777				1,116,730
Property and related expenses			(50,285	)			(46,260	)
Net operating income, as defined			893,492				1,070,470
Retail Properties:
Rental, fees and other income			782,172				927,479
Property and related expenses			(234,366	)			(319,208	)
Net operating (loss) income, as defined			547,806				608,271
Reconciliation to net loss:
Total net operating income, as defined, for reportable segments			3,529,831				4,648,059
General and administrative expenses			(1,537,265	)			(1,351,345	)
Depreciation and amortization			(1,428,934	)			(1,574,526	)
Interest expense			(1,584,394	)			(2,553,846	)
Gain on extinguishment of government debt			10,000				—
Other income (expense), net			(32,785	)			(6,995	)
Income tax expense			(50,199	)			(83,631	)
Gain (loss) on sale of real estate			(1,161,328	)			(9,835	)
Net loss		$	(2,255,074	)		$	(932,119	)

Reconciliation of Assets from Segment to Consolidated [Table Text Block]

		March 31,				December 31,
Assets by Reportable Segment:		2021				2020
Office/Industrial Properties:
Land, buildings and improvements, net (1)		$	86,427,084			$	99,120,649
Total assets (2)		$	85,861,760			$	100,046,782
Model Home Properties:
Land, buildings and improvements, net (1)		$	37,888,865			$	42,509,596
Total assets (2)		$	35,987,702			$	42,246,022
Retail Properties:
Land, buildings and improvements, net (1)		$	20,970,712			$	24,555,371
Total assets (2)		$	22,190,105			$	26,108,109
Reconciliation to Total Assets:
Total assets for reportable segments		$	144,039,567			$	168,400,913
Other unallocated assets:
Cash, cash equivalents and restricted cash			229,700				2,149,088
Other assets, net			14,872,739				15,018,615
Total Assets		$	159,142,006			$	185,568,616

Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block]

		For the Three Months Ended March 31,
Capital Expenditures by Reportable Segment		2021				2020
Office/Industrial Properties:
Capital expenditures and tenant improvements		$	100,765			$	881,497
Model Home Properties:
Acquisition of operating properties			—				3,573,743
Retail Properties:
Capital expenditures and tenant improvements			—				8,176
Totals:
Acquisition of operating properties, net			—				3,573,743
Capital expenditures and tenant improvements			100,765				889,673
Total real estate investments		$	100,765			$	4,463,416

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