Note 13 - Subsequent Events	12 Months Ended
Dec. 31, 2021
Notes to Financial Statements
Subsequent Events [Text Block]	13. SUBSEQUENT EVENTS Sponsorship of Special Purpose Acquisition Company On January 7, 2022, we announced our sponsorship, through our wholly-owned subsidiary, Murphy Canyon Acquisition Sponsor, LLC (the “Sponsor”), of a special purpose acquisition company (“SPAC”) initial public offering. The registration statement and prospectus relating to the initial public offering (“IPO”) of the SPAC, Murphy Canyon Acquisition Corp. (“Murphy Canyon”), was declared effective by the Securities and Exchange Commission (the “SEC”) on February 2, 2022 and SPAC units, consisting of one share of Class A common stock, par value $0.0001 per share, of Murphy Canyon and one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one share of common stock at a price of $11.50 per share, began trading on the Nasdaq Global Market on February 3, 2022. Once the securities comprising the units begin separate trading, the common stock and the warrants are expected to be traded on the Nasdaq Global Market under the symbols “MURF” and “MURFW,” respectively. The Murphy Canyon IPO closed on February 7, 2022, raising gross proceeds for Murphy Canyon of $132,250,000, including the exercise in full by the underwriters of their over-allotment option. In connection with the IPO, we purchased, through the Sponsor, 754,000 placement units (the “placement units”) at a price of $10.00 per unit, for an aggregate purchase price of $7,540,000. The Sponsor has agreed to transfer an aggregate of 45,000 placement units (15,000 each) to each of Murphy Canyon’s independent directors. Immediately following the IPO, Murphy Canyon began to evaluate acquisition candidates in the real estate industry, including construction, homebuilding, real estate owners and operators, arrangers of financing, insurance, and other services for real estate, and adjacent businesses and technologies targeting the real estate space with an aggregate combined enterprise value of approximately $300 million to $1.2 billion. Murphy Canyon’s goal is to complete its initial business combination (“IBC”) within one year of its IPO. We expect Murphy Canyon to operate as a separately managed, publicly traded entity following the completion of the IBC, or “De-SPAC”. The $7,540,000 to purchase the placement units was funded with the use of our unrestricted cash on hand, which totaled approximately $10 million as of December 31, 2021. The Company is currently evaluating the consolidation treatment for our investment in the SPAC after the IPO on February 7, 2022. While we have not concluded our review it is possible that we will continue to consolidate Murphy Canyon into the Company’s financial statements after its IPO. If we ultimately consolidate Murphy Canyon into our financial statements, they would include approximately $134 million in restricted cash held in trust. Warrant Dividend We set a record date of January 14, 2022 with respect to the distribution of five-year listed warrants (the “Series A Warrants”). The Series A Warrants and the shares of common stock issuable upon the exercise of the Series A Warrants were registered on a registration statement that was filed with the SEC and was declared effective January 21, 2022. The Series A Warrants commenced trading on the Nasdaq Capital Market under the symbol “SQFTW” on January 24, 2022 and were distributed on that date to persons who held shares of common stock and existing outstanding warrants as of the January 14, 2022 record date, or who acquired shares of common stock in the market following the record date, and who continued to hold such shares at the close of trading on January 21, 2022. The Series A Warrants give the holder the right to purchase one share of common stock at $7.00 per share, for a period of five years. Should warrantholders not exercise the Series A Warrants during that holding period, the Series A Warrants will automatically convert to 1/10 of a common share at expiration, rounded down to the nearest number of whole shares. During January, February and March 2022, the Company has continued to announce and pay the monthly dividend on its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock in the amount of $0.19531 per share for each month, respectively. On March 1, 2022, the Company announced that its Board of Directors has declared a cash dividend of $0.105 per share on its Series A Common Stock for the first quarter of 2022. The dividend will be payable on March 28, 2022, to all stockholders of record as of the close of business on March 16, 2022. In February 2022, the Company listed our property in Bismarck, ND, Grand Pacific Center, for sale at approximately $7.5 million. As of December 31, 2021, Grand Pacific Center had a book value of approximately $5.5 million. On March 11, 2022, the Company completed the sale our property World Plaza, located in San Bernardino, CA, for $10 million to an unrelated third party. On March 28, 2022, Larry Dubose notified the Company that he is resigning from his positions with NetREIT Advisors, LLC and Dubose Advisors, LLC in 2022 and will not stand for re-election at the Annual Meeting, due to his other professional commitments and demands on his time. However, he will continue to remain an employee of our model home division.

On January 7, 2022, we announced our sponsorship, through our wholly-owned subsidiary, Murphy Canyon Acquisition Sponsor, LLC (the “Sponsor”), of a special purpose acquisition company (“SPAC”) initial public offering. The registration statement and prospectus relating to the initial public offering (“IPO”) of the SPAC, Murphy Canyon Acquisition Corp. (“Murphy Canyon”), was declared effective by the Securities and Exchange Commission (the “SEC”) on February 2, 2022 and SPAC units, consisting of one share of Class A common stock, par value $0.0001 per share, of Murphy Canyon and one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one share of common stock at a price of $11.50 per share, began trading on the Nasdaq Global Market on February 3, 2022. Once the securities comprising the units begin separate trading, the common stock and the warrants are expected to be traded on the Nasdaq Global Market under the symbols “MURF” and “MURFW,” respectively. The Murphy Canyon IPO closed on February 7, 2022, raising gross proceeds for Murphy Canyon of $132,250,000, including the exercise in full by the underwriters of their over-allotment option. In connection with the IPO, we purchased, through the Sponsor, 754,000 placement units (the “placement units”) at a price of $10.00 per unit, for an aggregate purchase price of $7,540,000. The Sponsor has agreed to transfer an aggregate of 45,000 placement units (15,000 each) to each of Murphy Canyon’s independent directors.

Immediately following the IPO, Murphy Canyon began to evaluate acquisition candidates in the real estate industry, including construction, homebuilding, real estate owners and operators, arrangers of financing, insurance, and other services for real estate, and adjacent businesses and technologies targeting the real estate space with an aggregate combined enterprise value of approximately $300 million to $1.2 billion. Murphy Canyon’s goal is to complete its initial business combination (“IBC”) within one year of its IPO. We expect Murphy Canyon to operate as a separately managed, publicly traded entity following the completion of the IBC, or “De-SPAC”.

The $7,540,000 to purchase the placement units was funded with the use of our unrestricted cash on hand, which totaled approximately $10 million as of December 31, 2021. The Company is currently evaluating the consolidation treatment for our investment in the SPAC after the IPO on February 7, 2022. While we have not concluded our review it is possible that we will continue to consolidate Murphy Canyon into the Company’s financial statements after its IPO. If we ultimately consolidate Murphy Canyon into our financial statements, they would include approximately $134 million in restricted cash held in trust.

We set a record date of January 14, 2022 with respect to the distribution of five-year listed warrants (the “Series A Warrants”). The Series A Warrants and the shares of common stock issuable upon the exercise of the Series A Warrants were registered on a registration statement that was filed with the SEC and was declared effective January 21, 2022. The Series A Warrants commenced trading on the Nasdaq Capital Market under the symbol “SQFTW” on January 24, 2022 and were distributed on that date to persons who held shares of common stock and existing outstanding warrants as of the January 14, 2022 record date, or who acquired shares of common stock in the market following the record date, and who continued to hold such shares at the close of trading on January 21, 2022. The Series A Warrants give the holder the right to purchase one share of common stock at $7.00 per share, for a period of five years. Should warrantholders not exercise the Series A Warrants during that holding period, the Series A Warrants will automatically convert to 1/10 of a common share at expiration, rounded down to the nearest number of whole shares.

During January, February and March 2022, the Company has continued to announce and pay the monthly dividend on its 9.375% Series D Cumulative Redeemable Perpetual Preferred Stock in the amount of $0.19531 per share for each month, respectively.

On March 1, 2022, the Company announced that its Board of Directors has declared a cash dividend of $0.105 per share on its Series A Common Stock for the first quarter of 2022. The dividend will be payable on March 28, 2022, to all stockholders of record as of the close of business on March 16, 2022.

In February 2022, the Company listed our property in Bismarck, ND, Grand Pacific Center, for sale at approximately $7.5 million. As of December 31, 2021, Grand Pacific Center had a book value of approximately $5.5 million.

On March 11, 2022, the Company completed the sale our property World Plaza, located in San Bernardino, CA, for $10 million to an unrelated third party.

On March 28, 2022, Larry Dubose notified the Company that he is resigning from his positions with NetREIT Advisors, LLC and Dubose Advisors, LLC in 2022 and will not stand for re-election at the Annual Meeting, due to his other professional commitments and demands on his time. However, he will continue to remain an employee of our model home division.