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Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
ASSETS    
Land $ 21,136,379 $ 18,827,000
Buildings and improvements 119,224,375 115,409,423
Tenant improvements 12,752,518 11,960,018
Lease intangibles 4,110,139 4,110,139
Real estate assets and lease intangibles held for investment, cost 157,223,411 150,306,580
Accumulated depreciation and amortization (30,589,969) (26,551,789)
Real estate assets and lease intangibles held for investment, net 126,633,442 123,754,791
Real estate assets held for sale, net 11,431,494 42,499,176
Real estate assets, net 138,064,936 166,253,967
Cash, cash equivalents and restricted cash 14,702,089 11,540,917
Deferred leasing costs, net 1,348,234 1,927,951
Goodwill 2,423,000 2,423,000
Other assets, net 4,658,504 3,422,781
TOTAL ASSETS 161,196,763 185,568,616
Liabilities:    
Mortgage notes payable, net 87,324,319 94,664,266
Mortgage notes payable related to properties held for sale, net 1,535,513 25,365,430
Mortgage notes payable, total net 88,859,832 120,029,696
Note payable, net 0 7,500,086
Accounts payable and accrued liabilities 4,585,036 5,126,199
Accrued real estate taxes 1,940,913 2,548,686
Dividends payable preferred stock 179,685 0
Lease liability, net 75,547 102,323
Below-market leases, net 73,130 139,045
Total liabilities 95,714,143 135,446,035
Commitments and contingencies (Note 9)
Equity:    
Additional paid-in capital 186,492,012 156,463,146
Dividends and accumulated losses (130,947,434) (121,674,505)
Total stockholders' equity before noncontrolling interest 55,669,775 34,883,679
Noncontrolling interest 9,812,845 15,238,902
Total equity 65,482,620 50,122,581
TOTAL LIABILITIES AND EQUITY 161,196,763 185,568,616
Series D Preferred Stock [Member]    
Equity:    
Series D Preferred Stock, $0.01 par value per share; 1,000,000 shares authorized; 920,000 and 0 shares issued and outstanding (liquidation preference $25.00 per share) as of December 31, 2021 and December 31, 2020, respectively 9,200 0
Common Class A [Member]    
Equity:    
Series A Common Stock, $0.01 par value per share, shares authorized: 100,000,000; 11,599,720 shares and 9,508,363 shares were issued and outstanding at December 31, 2021 and December 31, 2020, respectively $ 115,997 $ 95,038