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Note 12 - Segments (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Notes Tables |
Schedule of Segment Reporting Information, by Segment [Table Text Block] |
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |
Office/Industrial Properties: |  |  |  |  |  |  |  |
Rental, fees and other income |  | $ | 11,648,034 |  |  | $ | 12,702,986 |
Property and related expenses |  |  | (7,264,029 | ) |  |  | (5,148,110 | )
Net operating income, as defined |  |  | 4,384,005 |  |  |  | 7,554,876 |
Model Home Properties: |  |  |  |  |  |  |  |
Rental, fees and other income |  |  | 4,132,130 |  |  |  | 2,909,871 |
Property and related expenses |  |  | (588,477 | ) |  |  | (102,660 | )
Net operating income, as defined |  |  | 3,543,653 |  |  |  | 2,807,211 |
Retail Properties: |  |  |  |  |  |  |  |
Rental, fees and other income |  |  | 1,884,330 |  |  |  | 2,224,479 |
Property and related expenses |  |  | (537,389 | ) |  |  | (663,681 | )
Net operating income, as defined |  |  | 1,346,941 |  |  |  | 1,560,798 |
Reconciliation to net income: |  |  |  |  |  |  |  |
Total net operating income, as defined, for reportable segments |  |  | 9,274,599 |  |  |  | 11,922,885 |
Goodwill impairment |  |  | (849,000 | ) |  |  | — |
General and administrative expenses |  |  | (6,790,432 | ) |  |  | (6,163,816 | )
Depreciation and amortization |  |  | (5,425,739 | ) |  |  | (5,465,015 | )
Interest expense |  |  | (5,004,889 | ) |  |  | (4,712,487 | )
Gain on marketable securities |  |  | 1,414,420 |  |  |  | 2,018,847 |
Loss on Conduit marketable securities |  |  | (23,359,774 | ) |  |  | — |
Gain on deconsolidation of SPAC |  |  | 40,321,483 |  |  |  | — |
Other income, net |  |  | 20,878 |  |  |  | 21,075 |
Income tax expense |  |  | 335,780 |  |  |  | (1,215,873 | )
Gain on sale of real estate |  |  | 3,240,200 |  |  |  | 5,079,912 |
Net income |  | $ | 13,177,526 |  |  | $ | 1,485,528 |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] |
|  | December 31, |  |  | December 31, |
Assets by Reportable Segment: |  | 2023 |  |  | 2022 |
Office/Industrial Properties: |  |  |  |  |  |  |  |
Land, buildings and improvements, net (1) |  | $ | 77,472,724 |  |  | $ | 76,400,983 |
Total assets (2) |  | $ | 78,140,372 |  |  | $ | 79,057,998 |
Model Home Properties: |  |  |  |  |  |  |  |
Land, buildings and improvements, net (1) |  | $ | 50,790,147 |  |  | $ | 37,933,824 |
Total assets (2) |  | $ | 51,456,292 |  |  | $ | 35,274,545 |
Retail Properties: |  |  |  |  |  |  |  |
Land, buildings and improvements, net (1) |  | $ | 15,877,190 |  |  | $ | 16,142,613 |
Total assets (2) |  | $ | 16,539,399 |  |  | $ | 16,810,627 |
Reconciliation to Total Assets: |  |  |  |  |  |  |  |
Total assets for reportable segments |  | $ | 146,136,063 |  |  | $ | 131,143,170 |
Other unallocated assets: |  |  |  |  |  |  |  |
Cash, cash equivalents and restricted cash |  |  | 277,143 |  |  |  | 8,570,121 |
Other assets, net |  |  | 29,549,432 |  |  |  | 151,638,363 |
Total Assets |  | $ | 175,962,638 |  |  | $ | 291,351,654 |
Segment, Reconciliation of Other Items from Segments to Consolidated [Table Text Block] |
|  | For the Year Ended December 31, |
Capital Expenditures by Reportable Segment |  | 2023 |  |  | 2022 |
Office/Industrial Properties: |  |  |  |  |  |  |  |
Capital expenditures and tenant improvements, office |  | $ | 6,512,594 |  |  | $ | 1,994,371 |
Model Home Properties: |  |  |  |  |  |  |  |
Acquisition of operating properties, model home |  |  | 21,909,963 |  |  |  | 15,673,575 |
Retail Properties: |  |  |  |  |  |  |  |
Capital expenditures and tenant improvements, retail |  |  | 150,522 |  |  |  | 113,134 |
Totals: |  |  |  |  |  |  |  |
Acquisition of operating properties, net |  |  | 21,909,963 |  |  |  | 15,673,575 |
Capital expenditures and tenant improvements |  |  | 6,663,116 |  |  |  | 2,107,505 |
Total real estate investments |  | $ | 28,573,079 |  |  | $ | 17,781,080 |

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