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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Cash flows from operating activities:              
Net loss $ (11,378,675) $ (3,737,795) $ (204,752) $ (608,459) $ (15,116,470) $ (813,211)  
Adjustments to reconcile net loss to net cash used in operating activities:              
Depreciation and amortization 1,351,370   1,368,829   2,702,388 2,702,403  
Stock compensation         885,029 540,501  
Bad debt expense         0 32,729  
Gain on sale of real estate assets, net (811,903)   (1,119,952)   (2,829,998) (1,537,289)  
Net change in fair value SPAC Trust Account         0 (939,522)  
Impairment of real estate assets 101,245   0   196,793 0  
Amortization of financing costs         214,071 187,303  
Amortization of below-market leases         (2,487) (2,487)  
Straight-line rent adjustment         (95,602) (240,007)  
Changes in operating assets and liabilities:              
Other assets         588,866 (399,159)  
Accounts payable and accrued liabilities         (1,440,070) 239,297  
Accounts payable and accrued liabilities for the SPAC         0 (281,723)  
Accrued real estate taxes         (855,233) (902,217)  
Net cash used in operating activities         (1,863,486) (1,603,709)  
Cash flows from investing activities:              
Real estate acquisitions         (5,740,918) (12,932,128)  
Additions to buildings and tenant improvements         (1,213,936) (1,001,836)  
Investment in marketable securities         0 (1,826,458)  
Proceeds from sale of marketable securities         60,467 1,951,095  
Investment of SPAC IPO proceeds into Trust Account         0 (389,942)  
Withdrawals from Trust Account for SPAC taxes         0 792,480  
Withdrawals from Trust Account for Redemption of SPAC Shares         0 114,068,280  
Deferred leasing costs         3,872 3,872  
Proceeds from sales of real estate, net         20,058,923 4,590,187  
Net cash provided by investing activities         13,168,408 105,255,550  
Cash flows from financing activities:              
Proceeds from mortgage notes payable, net of issuance costs         10,663,089 12,848,849  
Repayment of mortgage notes payable         (17,110,515) (6,417,278)  
Payment of deferred offering costs         (349,589) 0  
Distributions to noncontrolling interests, net         (2,606,333) (1,961,310)  
Redemption of SPAC shares         0 (114,068,280)  
Issuance of Series D Preferred Stock, net of offering costs         1,195,855 0  
Repurchase of Series A Common Stock, at cost         (7,613) 0  
Dividends paid to Series D Preferred Stockholders         (1,065,363) (1,067,733)  
Dividends paid to Series A Common Stockholders         0 (590,151)  
Net cash used in financing activities         (9,280,469) (111,467,775)  
Net change in cash, cash equivalents and restricted cash         2,024,453 (7,815,934)  
Cash, cash equivalents and restricted cash - beginning of period   $ 6,510,428   $ 16,516,725 6,510,428 16,516,725 $ 16,516,725
Cash, cash equivalents and restricted cash - end of period 8,534,881   8,700,791   8,534,881 8,700,791 6,510,428
Non-cash investing activities:              
Private warrants from Conduit Pharmaceuticals         156,600 0  
Non-cash financing activities:              
Accrued excise tax on January 24, 2023 SPAC redemptions         0 1,140,683  
Dividends payable - Preferred Stock Series D 195,310       195,310   $ 174,011
Mortgage Notes [Member]              
Supplemental disclosure of cash flow information:              
Interest paid         2,810,393 2,351,642  
Series D Preferred Stock [Member]              
Cash flows from financing activities:              
Repurchase of Series D Preferred Stock, at cost         0 (211,872)  
Non-cash financing activities:              
Dividends payable - Preferred Stock Series D $ 195,310   $ 177,145   195,310 177,145  
Conduit Pharmaceuticals Inc [Member]              
Adjustments to reconcile net loss to net cash used in operating activities:              
Net change in fair value marketable securities         13,888,667 0  
All Other Than Conduit [Member]              
Adjustments to reconcile net loss to net cash used in operating activities:              
Net change in fair value marketable securities         $ 560 $ (190,327)