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Note 5 - Lease Intangibles | 9 Months Ended
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Sep. 30, 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:
|  | September 30, 2024 |  |  | December 31, 2023 |
|  | Lease Intangibles |  |  | Accumulated Amortization |  |  | Lease Intangibles, net |  |  | Lease Intangibles |  |  | Accumulated Amortization |  |  | Lease Intangibles, net |
In-place leases |  | $ | 2,515,264 |  |  | $ | (2,502,353 | ) |  | $ | 12,911 |  |  | $ | 2,515,264 |  |  | $ | (2,495,016 | ) |  | $ | 20,248 |
Leasing costs |  |  | 1,261,390 |  |  |  | (1,250,143 | ) |  |  | 11,247 |  |  |  | 1,261,390 |  |  |  | (1,244,335 | ) |  |  | 17,055 |
Above-market leases |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 333,485 |  |  |  | (333,485 | ) |  |  | — |
|  | $ | 3,776,654 |  |  | $ | (3,752,496 | ) |  | $ | 24,158 |  |  | $ | 4,110,139 |  |  | $ | (4,072,836 | ) |  | $ | 37,303 |
At September 30, 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 $9,535 and $13,266 relating to below-market leases at September 30, 2024 and December 31, 2023, respectively. Future aggregate approximate amortization expense for the Company's lease intangible assets is as follows:
2024 |  | $ | 4,382 |
2025 |  |  | 15,669 |
2026 |  |  | 4,107 |
Total |  | $ | 24,158 |

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