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Note 7 - Mortgage Notes Payable - Mortgage Notes Payable (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022
--- | --- | ---
Mortgage Notes Payable, net |  | $ 103,338,959 | $ 96,898,699
Mortgage Notes [Member] |  |  |
Mortgage Notes Payable |  | 104,183,226 | 97,751,655
Unamortized loan costs |  | (844,267) | (852,956)
Mortgage Notes [Member] | Dakota Center [Member] |  |  |
Mortgage Notes Payable |  | $ 9,321,018 | 9,442,976
Interest rate | [1] | 4.74% |
Mortgage Notes [Member] | Research Parkway [Member] |  |  |
Mortgage Notes Payable |  | $ 1,618,782 | 1,648,237
Interest rate | [1] | 3.94% |
Mortgage Notes [Member] | Arapahoe Center [Member] |  |  |
Mortgage Notes Payable |  | $ 7,514,694 | 7,602,273
Interest rate | [1] | 4.34% |
Mortgage Notes [Member] | Union Town Center [Member] |  |  |
Mortgage Notes Payable |  | $ 7,948,249 | 8,025,300
Interest rate | [1] | 4.28% |
Mortgage Notes [Member] | One Park Centre [Member] |  |  |
Mortgage Notes Payable |  | $ 6,103,844 | 6,163,177
Interest rate | [1] | 4.77% |
Mortgage Notes [Member] | Genesis Plaza [Member] |  |  |
Mortgage Notes Payable |  | $ 5,996,779 | 6,055,682
Interest rate | [1] | 4.71% |
Mortgage Notes [Member] | Shea Center II [Member] |  |  |
Mortgage Notes Payable |  | $ 17,090,897 | 17,229,573
Interest rate | [1] | 4.92% |
Mortgage Notes [Member] | West Fargo Industrial [Member] |  |  |
Mortgage Notes Payable | [2] | $ 3,969,781 | 4,030,297
Interest rate | [1],[2] | 3.27% |
Mortgage Notes [Member] | Grand Pacific Center [Member] |  |  |
Mortgage Notes Payable | [3] | $ 3,816,980 | 3,496,330
Interest rate | [1],[3] | 6.35% |
Mortgage Notes [Member] | Baltimore [Member] |  |  |
Mortgage Notes Payable |  | $ 5,670,000 | 5,670,000
Interest rate | [1] | 4.67% |
Mortgage Notes [Member] | Mandolin [Member] |  |  |
Mortgage Notes Payable |  | $ 3,604,414 | 3,635,362
Interest rate | [1] | 4.35% |
Mortgage Notes [Member] | Subtotal, Presidio Property Trust, Inc. Properties [Member] |  |  |
Mortgage Notes Payable |  | $ 72,655,438 | 72,999,207
Mortgage Notes [Member] | Model Home [Member] |  |  |
Mortgage Notes Payable | [4] | $ 31,527,788 | $ 24,752,448
[1] | Interest rates as of March 31, 2023.
[2] | Interest rate is subject to possible reset on August 5, 2023. The lender may, upon not less than sixty (60) days prior written notice to the Company, increase the interest rate effective on the August 5, 2023 and August 5, 2026, to the rate then being quoted by the lender for new three-year commercial mortgage loans of similar size and quality with like terms and security (provided that in no event shall the new rate be less than the initial rate).
[3] | Interest rate is subject to possible reset on September 1, 2023. The lender may, upon not less than sixty (60) days prior written notice to the Company, increase the interest rate effective on September 1, 2023 and September 1, 2030 to the rate then being quoted by the lender for new seven-year commercial mortgage loans of similar size and quality with like terms and security (provided that in no event shall the new rate be less than the initial rate).
[4] | As of March 31, 2023 there were six model homes included as real estate assets held for sale. Our model homes have stand-alone mortgage notes at interest rates ranging from 2.50% to 6.7% per annum as of March 31, 2023.

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