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Note 5 - Lease Intangibles | 3 Months Ended
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Mar. 31, 2022
Notes to Financial Statements |
Intangible Assets Disclosure [Text Block] | 5. LEASE INTANGIBLES The following table summarizes the net value of other intangible assets acquired and the accumulated amortization for each class of intangible asset:
|  | March 31, 2022 |  |  | December 31, 2021 |
|  | Lease Intangibles |  |  | Accumulated Amortization |  |  | Lease Intangibles, net |  |  | Lease Intangibles |  |  | Accumulated Amortization |  |  | Lease Intangibles, net |
In-place leases |  | $ | 2,515,264 |  |  | $ | (2,387,500 | ) |  | $ | 127,764 |  |  | $ | 2,515,264 |  |  | $ | (2,353,782 | ) |  | $ | 161,482 |
Leasing costs |  |  | 1,261,390 |  |  |  | (1,184,053 | ) |  |  | 77,337 |  |  |  | 1,261,390 |  |  |  | (1,165,701 | ) |  |  | 95,689 |
Above-market leases |  |  | 333,485 |  |  |  | (333,485 | ) |  |  | — |  |  |  | 333,485 |  |  |  | (333,485 | ) |  |  | — |
|  | $ | 4,110,139 |  |  | $ | (3,905,038 | ) |  | $ | 205,101 |  |  | $ | 4,110,139 |  |  | $ | (3,852,968 | ) |  | $ | 257,171 |
At March 31, 2022 and December 31, 2021, gross lease intangible assets of $0.0 and $1.1 million, respectively, were included in real estate assets held for sale. At March 31, 2022 and December 31, 2021, accumulated amortization related to the lease intangible assets of $0.0 and $1.1 million, respectively, were included in real estate assets held for sale. The net value of acquired intangible liabilities was approximately $59,407 and $73,130 relating to below-market leases at March 31, 2022 and December 31, 2021, respectively. Future aggregate approximate amortization expense for the Company's lease intangible assets is as follows:
2022 |  | $ | 150,272 |
2023 |  |  | 17,526 |
2024 |  |  | 17,526 |
2025 |  |  | 15,670 |
2026 |  |  | 4,107 |
Thereafter |  |  | — |
Total |  | $ | 205,101 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -URI https://asc.fasb.org/subtopic&trid=2144471 + Details
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