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Note 12 - Segments (Tables) | 12 Months Ended
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Dec. 31, 2022
Notes Tables |
Schedule of Segment Reporting Information, by Segment [Table Text Block] |
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |
Office/Industrial Properties: |  |  |  |  |  |  |  |
Rental, fees and other income |  | $ | 12,702,986 |  |  | $ | 13,161,268 |
Property and related expenses |  |  | (5,148,110 | ) |  |  | (5,769,843 | )
Net operating income, as defined |  |  | 7,554,876 |  |  |  | 7,391,425 |
Model Home Properties: |  |  |  |  |  |  |  |
Rental, fees and other income |  |  | 2,909,871 |  |  |  | 3,211,149 |
Property and related expenses |  |  | (102,660 | ) |  |  | (129,389 | )
Net operating income, as defined |  |  | 2,807,211 |  |  |  | 3,081,760 |
Retail Properties: |  |  |  |  |  |  |  |
Rental, fees and other income |  |  | 2,224,479 |  |  |  | 3,023,316 |
Property and related expenses |  |  | (663,681 | ) |  |  | (1,056,581 | )
Net operating income, as defined |  |  | 1,560,798 |  |  |  | 1,966,735 |
Reconciliation to net income (loss): |  |  |  |  |  |  |  |
Total net operating income, as defined, for reportable segments |  |  | 11,922,885 |  |  |  | 12,439,920 |
General and administrative expenses |  |  | (6,163,816 | ) |  |  | (6,225,510 | )
Depreciation and amortization |  |  | (5,465,015 | ) |  |  | (5,397,498 | )
Interest expense |  |  | (4,712,487 | ) |  |  | (4,822,085 | )
Gain on extinguishment of government debt |  |  | — |  |  |  | 10,000 |
Other income (expense), net |  |  | 2,039,922 |  |  |  | (3,417 | )
Income tax expense |  |  | (1,215,873 | ) |  |  | 47,620 |
Gain on sale of real estate |  |  | 5,079,912 |  |  |  | 2,487,528 |
Net income (loss) |  | $ | 1,485,528 |  |  | $ | (1,463,442 | )
Reconciliation of Assets from Segment to Consolidated [Table Text Block] |
|  | December 31, |  |  | December 31, |
Assets by Reportable Segment: |  | 2022 |  |  | 2021 |
Office/Industrial Properties: |  |  |  |  |  |  |  |
Land, buildings and improvements, net (1) |  | $ | 76,400,983 |  |  | $ | 78,240,086 |
Total assets (2) |  | $ | 79,057,998 |  |  | $ | 76,453,436 |
Model Home Properties: |  |  |  |  |  |  |  |
Land, buildings and improvements, net (1) |  | $ | 37,933,824 |  |  | $ | 34,089,046 |
Total assets (2) |  | $ | 35,274,545 |  |  | $ | 31,047,202 |
Retail Properties: |  |  |  |  |  |  |  |
Land, buildings and improvements, net (1) |  | $ | 16,142,613 |  |  | $ | 25,693,239 |
Total assets (2) |  | $ | 16,810,627 |  |  | $ | 27,579,469 |
Reconciliation to Total Assets: |  |  |  |  |  |  |  |
Total assets for reportable segments |  | $ | 131,143,170 |  |  | $ | 135,080,107 |
Other unallocated assets: |  |  |  |  |  |  |  |
Cash, cash equivalents and restricted cash |  |  | 8,570,121 |  |  |  | 6,738,345 |
Other assets, net |  |  | 151,638,363 |  |  |  | 19,378,311 |
Total Assets |  | $ | 291,351,654 |  |  | $ | 161,196,763 |
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block] |
|  | For the Year Ended December 31, |
Capital Expenditures by Reportable Segment |  | 2022 |  |  | 2021 |
Office/Industrial Properties: |  |  |  |  |  |  |  |
Acquisition of operating properties |  | $ | — |  |  | $ | 8,891,810 |
Capital expenditures and tenant improvements |  |  | 1,994,371 |  |  |  | 1,513,362 |
Model Home Properties: |  |  |  |  |  |  |  |
Acquisition of operating properties |  |  | 15,673,575 |  |  |  | 8,426,750 |
Retail Properties: |  |  |  |  |  |  |  |
Acquisition of operating properties |  |  | — |  |  |  | 4,906,266 |
Capital expenditures and tenant improvements |  |  | 113,134 |  |  |  | 83,824 |
Totals: |  |  |  |  |  |  |  |
Acquisition of operating properties, net |  |  | 15,673,575 |  |  |  | 22,224,826 |
Capital expenditures and tenant improvements |  |  | 2,107,505 |  |  |  | 1,597,186 |
Total real estate investments |  | $ | 17,781,080 |  |  | $ | 23,822,012 |

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