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Note 5 - Lease Intangibles | 3 Months Ended
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Mar. 31, 2024
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, 2024 |  |  | December 31, 2023 |
|  | Lease Intangibles |  |  | Accumulated Amortization |  |  | Lease Intangibles, net |  |  | Lease Intangibles |  |  | Accumulated Amortization |  |  | Lease Intangibles, net |
In-place leases |  | $ | 2,515,264 |  |  | $ | (2,497,462 | ) |  | $ | 17,802 |  |  | $ | 2,515,264 |  |  | $ | (2,495,016 | ) |  | $ | 20,248 |
Leasing costs |  |  | 1,261,390 |  |  |  | (1,246,271 | ) |  |  | 15,119 |  |  |  | 1,261,390 |  |  |  | (1,244,335 | ) |  |  | 17,055 |
Above-market leases |  |  | - |  |  |  | - |  |  |  | — |  |  |  | 333,485 |  |  |  | (333,485 | ) |  |  | — |
|  | $ | 3,776,654 |  |  | $ | (3,743,733 | ) |  | $ | 32,921 |  |  | $ | 4,110,139 |  |  | $ | (4,072,836 | ) |  | $ | 37,303 |
At March 31, 2024, and December 31, 2023, there were no gross lease intangible assets and accumulated amortization related to the lease intangible assets included in real estate assets held for sale. The net value of acquired intangible liabilities was approximately $12,022 and $13,266 relating to below-market leases at March 31, 2024 and December 31, 2023, respectively. Future aggregate approximate amortization expense for the Company's lease intangible assets is as follows:
2024 |  | $ | 13,145 |
2025 |  |  | 15,669 |
2026 |  |  | 4,107 |
Total |  | $ | 32,921 |

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