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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Land $ 19,409,817 $ 21,660,644
Buildings and improvements 126,439,142 133,829,416
Tenant improvements 18,823,656 17,820,948
Lease intangibles 3,776,654 4,110,139
Real estate assets and lease intangibles held for investment, cost 168,449,269 177,421,147
Accumulated depreciation and amortization (39,951,401) (38,725,356)
Real estate assets and lease intangibles held for investment, net 128,497,868 138,695,791
Real estate assets held for sale, net 2,394,363 5,459,993
Real estate assets, net 130,892,231 144,155,784
Other assets:    
Cash, cash equivalents and restricted cash 8,534,881 6,510,428
Deferred leasing costs, net 1,565,169 1,657,055
Goodwill 1,574,000 1,574,000
Investment in Conduit Pharmaceuticals marketable securities (see Notes 2 & 9) 4,413,989 18,318,521
Deferred tax asset 346,762 346,762
Other assets, net (see Note 6) 3,211,251 3,400,088
Total other assets 19,646,052 31,806,854
TOTAL ASSETS 150,538,283 175,962,638
Liabilities:    
Mortgage notes payable, net 99,489,045 103,685,444
Mortgage notes payable related to properties held for sale, net 1,636,341 4,027,829
Mortgage notes payable, total net 101,125,386 107,713,273
Accounts payable and accrued liabilities 3,501,779 4,770,845
Accrued real estate taxes 1,097,854 1,953,087
Dividends payable 195,310 174,011
Lease liability, net 0 16,086
Below-market leases, net 10,779 13,266
Total liabilities 105,931,108 114,640,568
Equity:    
Additional paid-in capital 184,402,052 182,331,408
Dividends and accumulated losses (149,663,851) (131,508,785)
Total stockholders' equity before noncontrolling interest 34,872,388 50,954,183
Noncontrolling interest 9,734,787 10,367,887
Total equity 44,607,175 61,322,070
TOTAL LIABILITIES AND EQUITY 150,538,283 175,962,638
Series D Preferred Stock [Member]    
Liabilities:    
Dividends payable 195,310  
Equity:    
Series D Preferred Stock, $0.01 par value per share; 1,000,000 shares authorized; 1,000,000 shares issued and outstanding (liquidation preference $25.00 per share) as of June 30, 2024 and 890,946 shares issued and outstanding as of December 31, 2023 10,000 8,909
Common Class A [Member]    
Equity:    
Series A Common Stock, $0.01 par value per share, 100,000,000 shares authorized; 12,418,693 shares and 12,265,061 shares were issued and outstanding at June 30, 2024 and December 31, 2023, respectively $ 124,187 $ 122,651