XML 40 R25.htm IDEA: XBRL DOCUMENT
v3.21.4

LEASE INTANGIBLES (Tables) | 9 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 30, 2021 | Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |  |
SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS | The following table summarizes the net value of other intangible assets acquired and the accumulated amortization for each class of intangible asset: SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS
|  | September 30, 2021 |  |  | December 31, 2020 |
|  | Lease Intangibles |  |  | Accumulated Amortization |  |  | Lease Intangibles, net |  |  | Lease Intangibles |  |  | Accumulated Amortization |  |  | Lease Intangibles, net |
In-place leases |  | $ | 2,515,264 |  |  | $ | (2,320,045 | ) |  | $ | 195,219 |  |  | $ | 3,136,587 |  |  | $ | (2,757,530 | ) |  | $ | 379,057 |
Leasing costs |  |  | 1,261,390 |  |  |  | (1,146,572 | ) |  |  | 114,818 |  |  |  | 1,730,656 |  |  |  | (1,510,559 | ) |  |  | 220,097 |
Above-market leases |  |  | 333,485 |  |  |  | (333,485 | ) |  |  | — |  |  |  | 333,485 |  |  |  | (291,421 | ) |  |  | 42,064 |
|  | $ | 4,110,139 |  |  | $ | (3,800,102 | ) |  | $ | 310,037 |  |  | $ | 5,200,728 |  |  | $ | (4,559,510 | ) |  | $ | 641,218 |
| Lease intangibles consist of the following: SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS
|  | December 31, 2020 |  |  | December 31, 2019 |
|  | Lease |  |  | Accumulated |  |  | Lease |  |  | Lease |  |  | Accumulated |  |  | Lease |
|  | Intangibles |  |  | Amortization |  |  | Intangibles, net |  |  | Intangibles |  |  | Amortization |  |  | Intangibles, net |
In-place leases |  | $ | 3,136,587 |  |  | $ | (2,757,530 | ) |  | $ | 379,057 |  |  | $ | 4,360,027 |  |  | $ | (3,283,027 | ) |  | $ | 1,077,000 |
Leasing costs |  |  | 1,730,656 |  |  |  | (1,510,559 | ) |  |  | 220,097 |  |  |  | 2,937,976 |  |  |  | (2,002,711 | ) |  |  | 935,265 |
Above-market leases |  |  | 333,485 |  |  |  | (291,421 | ) |  |  | 42,064 |  |  |  | 333,485 |  |  |  | (240,739 | ) |  |  | 92,746 |
|  | $ | 5,200,728 |  |  | $ | (4,559,510 | ) |  | $ | 641,218 |  |  | $ | 7,631,488 |  |  | $ | (5,526,477 | ) |  | $ | 2,105,011 |
SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS, FUTURE AMORTIZATION EXPENSE | Future aggregate approximate amortization expense for the Company’s lease intangible assets is as follows: SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS, FUTURE AMORTIZATION EXPENSE
2021 |  | $ | 52,866 |
2022 |  |  | 202,342 |
2023 |  |  | 17,526 |
2024 |  |  | 17,526 |
2025 |  |  | 15,670 |
Thereafter |  |  | 4,107 |
Total |  | $ | 310,037 |
| Aggregate approximate amortization expense for the Company’s lease intangible assets is as follows: SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS, FUTURE AMORTIZATION EXPENSE
2021 |  |  | $ | 372,484 |
2022 |  |  |  | 202,479 |
2023 |  |  |  | 17,663 |
2024 |  |  |  | 17,663 |
2025 |  |  |  | 17,663 |
Thereafter |  |  |  | 13,266 |
Total |  |  | $ | 641,218 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration