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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Mar. 31, 2024
Dec. 31, 2023
ASSETS    
Land $ 19,716,839 $ 21,660,644
Buildings and improvements 126,800,920 133,829,416
Tenant improvements 18,695,226 17,820,948
Lease intangibles 3,776,654 4,110,139
Real estate assets and lease intangibles held for investment, cost 168,989,639 177,421,147
Accumulated depreciation and amortization (38,983,073) (38,725,356)
Real estate assets and lease intangibles held for investment, net 130,006,566 138,695,791
Real estate assets held for sale, net 5,254,952 5,459,993
Real estate assets, net 135,261,518 144,155,784
Other assets:    
Cash, cash equivalents and restricted cash 7,159,432 6,510,428
Deferred leasing costs, net 1,563,551 1,657,055
Goodwill 1,574,000 1,574,000
Investment in Conduit Pharmaceuticals marketable securities (see Notes 2 & 9) 14,457,288 18,318,521
Deferred tax asset 346,762 346,762
Other assets, net (see Note 6) 3,115,782 3,400,088
Total other assets 28,216,815 31,806,854
TOTAL ASSETS 163,478,333 175,962,638
Liabilities:    
Mortgage notes payable, net 98,599,984 103,685,444
Mortgage notes payable related to properties held for sale, net 3,692,713 4,027,829
Mortgage notes payable, total net 102,292,697 107,713,273
Accounts payable and accrued liabilities 4,076,683 4,792,034
Accrued real estate taxes 1,252,289 1,953,087
Dividends payable 174,011 174,011
Lease liability, net 8,090 16,086
Below-market leases, net 12,022 13,266
Total liabilities 107,815,792 114,661,757
Equity:    
Additional paid-in capital 182,533,423 182,310,219
Dividends and accumulated losses (137,272,480) (131,508,785)
Total stockholders' equity before noncontrolling interest 45,394,143 50,932,994
Noncontrolling interest 10,268,398 10,367,887
Total equity 55,662,541 61,300,881
TOTAL LIABILITIES AND EQUITY 163,478,333 175,962,638
Series D Preferred Stock [Member]    
Liabilities:    
Dividends payable 174,011  
Equity:    
Series D Preferred Stock, $0.01 par value per share; 1,000,000 shares authorized; 890,946 shares issued and outstanding (liquidation preference $25.00 per share) as of March 31, 2024 and 890,946 shares issued and outstanding as of December 31, 2023 8,909 8,909
Common Class A [Member]    
Equity:    
Series A Common Stock, $0.01 par value per share, shares authorized: 100,000,000; 12,429,139 shares and 12,265,061 shares were issued and outstanding at March 31, 2024 and December 31, 2023, respectively $ 124,291 $ 122,651