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Note 12 - Segments (Tables) | 3 Months Ended
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Mar. 31, 2022
Notes Tables |
Schedule of Segment Reporting Information, by Segment [Table Text Block] |
|  | Three Months Ended March 31, |
|  | 2022 |  |  | 2021 |
Office/Industrial Properties: |  |  |  |  |  |  |  |
Rental, fees and other income |  | $ | 3,122,888 |  |  | $ | 3,942,805 |
Property and related expenses |  |  | (1,356,534 | ) |  |  | (1,854,272 | )
Net operating income, as defined |  |  | 1,766,354 |  |  |  | 2,088,533 |
Model Home Properties: |  |  |  |  |  |  |  |
Rental, fees and other income |  |  | 710,328 |  |  |  | 943,777 |
Property and related expenses |  |  | (27,768 | ) |  |  | (50,285 | )
Net operating income, as defined |  |  | 682,560 |  |  |  | 893,492 |
Retail Properties: |  |  |  |  |  |  |  |
Rental, fees and other income |  |  | 753,341 |  |  |  | 782,172 |
Property and related expenses |  |  | (212,587 | ) |  |  | (234,366 | )
Net operating income, as defined |  |  | 540,754 |  |  |  | 547,806 |
Reconciliation to net loss: |  |  |  |  |  |  |  |
Total net operating income, as defined, for reportable segments |  |  | 2,989,668 |  |  |  | 3,529,831 |
General and administrative expenses |  |  | (1,583,691 | ) |  |  | (1,537,265 | )
Depreciation and amortization |  |  | (1,339,225 | ) |  |  | (1,428,934 | )
Interest expense |  |  | (1,017,713 | ) |  |  | (1,584,394 | )
Gain on extinguishment of government debt |  |  | — |  |  |  | 10,000 |
Other income (expense), net |  |  | 73,605 |  |  |  | (32,785 | )
Income tax expense |  |  | (265,239 | ) |  |  | (50,199 | )
Gain (loss) on sale of real estate |  |  | 1,522,785 |  |  |  | (1,161,328 | )
Net income (loss) |  | $ | 380,190 |  |  | $ | (2,255,074 | )
Reconciliation of Assets from Segment to Consolidated [Table Text Block] |
|  | March 31, |  |  | December 31, |
Assets by Reportable Segment: |  | 2022 |  |  | 2021 |
Office/Industrial Properties: |  |  |  |  |  |  |  |
Land, buildings and improvements, net (1) |  | $ | 77,623,021 |  |  | $ | 78,240,086 |
Total assets (2) |  | $ | 75,031,111 |  |  | $ | 76,453,436 |
Model Home Properties: |  |  |  |  |  |  |  |
Land, buildings and improvements, net (1) |  | $ | 32,864,698 |  |  | $ | 34,089,046 |
Total assets (2) |  | $ | 32,039,086 |  |  | $ | 31,047,202 |
Retail Properties: |  |  |  |  |  |  |  |
Land, buildings and improvements, net (1) |  | $ | 16,324,264 |  |  | $ | 25,693,239 |
Total assets (2) |  | $ | 17,092,627 |  |  | $ | 27,579,469 |
Reconciliation to Total Assets: |  |  |  |  |  |  |  |
Total assets for reportable segments |  | $ | 124,162,824 |  |  | $ | 135,080,107 |
Other unallocated assets: |  |  |  |  |  |  |  |
Cash, cash equivalents and restricted cash |  |  | 14,221,188 |  |  |  | 6,738,345 |
Other assets, net |  |  | 153,396,530 |  |  |  | 19,378,311 |
Total Assets |  | $ | 291,780,542 |  |  | $ | 161,196,763 |
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 |  | 2022 |  |  | 2021 |
Office/Industrial Properties: |  |  |  |  |  |  |  |
Capital expenditures and tenant improvements |  | $ | 319,737 |  |  | $ | 100,765 |
Model Home Properties: |  |  |  |  |  |  |  |
Acquisition of operating properties |  |  | 2,427,890 |  |  |  | — |
Retail Properties: |  |  |  |  |  |  |  |
Acquisition of operating properties |  |  | — |  |  |  | — |
Capital expenditures and tenant improvements |  |  | — |  |  |  | — |
Totals: |  |  |  |  |  |  |  |
Acquisition of operating properties, net |  |  | 2,427,890 |  |  |  | — |
Capital expenditures and tenant improvements |  |  | 319,737 |  |  |  | 100,765 |
Total real estate investments |  | $ | 2,747,627 |  |  | $ | 100,765 |

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