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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Sep. 30, 2024
Dec. 31, 2023
ASSETS    
Land $ 17,525,059 $ 21,660,644
Buildings and improvements 116,284,225 133,829,416
Tenant improvements 18,493,786 17,820,948
Lease intangibles 3,475,531 4,110,139
Real estate assets and lease intangibles held for investment, cost 155,778,601 177,421,147
Accumulated depreciation and amortization (37,710,504) (38,725,356)
Real estate assets and lease intangibles held for investment, net 118,068,097 138,695,791
Real estate assets held for sale, net 13,347,113 5,459,993
Real estate assets, net 131,415,210 144,155,784
Other assets:    
Cash, cash equivalents and restricted cash 7,199,448 6,510,428
Deferred leasing costs, net 1,582,820 1,657,055
Goodwill 1,574,000 1,574,000
Investment in Conduit Pharmaceuticals marketable securities (see Notes 2 & 9) 481,219 18,318,521
Deferred tax asset 346,762 346,762
Other assets, net (see Note 6) 3,245,771 3,400,088
Total other assets 14,430,020 31,806,854
TOTAL ASSETS 145,845,230 175,962,638
Liabilities:    
Mortgage notes payable, net 91,758,522 103,685,444
Mortgage notes payable related to properties held for sale, net 10,560,697 4,027,829
Mortgage notes payable, total net 102,319,219 107,713,273
Accounts payable and accrued liabilities 3,497,588 4,770,845
Accrued real estate taxes 1,656,919 1,953,087
Dividends payable 195,310 174,011
Lease liability, net 70,122 16,086
Below-market leases, net 9,535 13,266
Total liabilities 107,748,693 114,640,568
Commitments and contingencies (see Note 10)
Equity:    
Additional paid-in capital 185,712,362 182,331,408
Dividends and accumulated losses (156,309,316) (131,508,785)
Total stockholders' equity before noncontrolling interest 29,536,742 50,954,183
Noncontrolling interest 8,559,795 10,367,887
Total equity 38,096,537 61,322,070
TOTAL LIABILITIES AND EQUITY 145,845,230 175,962,638
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 September 30, 2024 and 890,946 shares issued and outstanding as of December 31, 2023 10,000 8,909
Common Class A [Member]    
Liabilities:    
Dividends payable 0  
Equity:    
Series A Common Stock, $0.01 par value per share, 100,000,000 shares authorized; 12,369,645 shares and 12,265,061 shares were issued and outstanding at September 30, 2024 and December 31, 2023, respectively $ 123,696 $ 122,651