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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Mar. 31, 2024
Sep. 30, 2023
Mar. 31, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Cash flows from operating activities:              
Net (loss) income $ (5,704,383) $ (3,737,795) $ 22,159,661 $ (608,459) $ (20,820,853) $ 21,346,450  
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:              
Depreciation and amortization 1,455,882   1,351,705   4,158,270 4,054,109  
Stock compensation         1,232,050 828,193  
Bad debt expense         0 27,729  
Gain on sale of real estate assets, net (361,151)   (757,285)   (3,191,149) (2,294,574)  
Gain on deconsolidation of SPAC investment 0   (40,321,483)   0 (40,321,483)  
Net gain in fair value SPAC Trust Account         0 (1,209,542)  
Impairment of real estate assets 697,146   0   893,939 0  
Amortization of financing costs         286,491 263,863  
Amortization of below-market leases         (3,731) (3,731)  
Amortization of deferred leasing costs         5,808 5,808  
Straight-line rent adjustment         (113,491) (280,619)  
Changes in operating assets and liabilities:              
Other assets         158,524 (92,877)  
Accounts payable and accrued liabilities         (1,172,517) (472,157)  
Accounts payable and accrued liabilities for the SPAC         0 652,577  
Accrued real estate taxes         (296,168) (373,343)  
Net cash (used in) provided by operating activities         (1,040,830) (356,973)  
Cash flows from investing activities:              
Real estate acquisitions         (9,729,351) (13,715,923)  
Additions to buildings and tenant improvements         (1,939,641) (1,966,868)  
Investment in marketable securities         0 (2,083,328)  
Proceeds from sale of marketable securities         60,467 2,302,456  
Investment of SPAC IPO proceeds into Trust Account         0 (624,998)  
Withdrawals from Trust Account for SPAC taxes         0 832,480  
Withdrawals from Trust Account for Redemption of SPAC Shares         0 137,157,011  
Proceeds from sales of real estate, net         22,273,254 7,113,065  
Net cash provided by investing activities         10,664,729 129,013,895  
Cash flows from financing activities:              
Proceeds from mortgage notes payable, net of issuance costs         13,602,291 13,400,934  
Repayment of mortgage notes payable         (18,900,440) (7,885,953)  
Distributions to noncontrolling interests, net         (3,083,899) (3,013,831)  
Redemption of SPAC shares         0 (137,157,011)  
Issuance of Series D Preferred Stock, net of offering costs         1,195,855 0  
Repurchase of Series A Common Stock, at cost         (97,394) 0  
Dividends paid to Series D Preferred Stockholders         (1,651,292) (1,595,606)  
Dividends paid to Series A Common Stockholders         0 (892,646)  
Net cash used in financing activities         (8,934,879) (137,394,883)  
Net change in cash, cash equivalents and restricted cash         689,020 (8,737,961)  
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 7,199,448   7,778,764   7,199,448 7,778,764 6,510,428
Supplemental disclosure of cash flow information:              
Paid additions to building and tenant improvements from prior year         295,567 0  
Income taxes paid         71,546 0  
Non-cash investing activities:              
Private warrants from Conduit Pharmaceuticals         642,600 0  
Non-cash financing activities:              
Issuance of Series A Common Stock for minority interest         1,052,579 0  
Unpaid additions to buildings and tenant improvements included in accounts payable         30,204 850,918  
Dividends payable 195,310       195,310   $ 174,011
Mortgage Notes [Member]              
Supplemental disclosure of cash flow information:              
Interest paid         4,064,414 3,637,980  
Series D Preferred Stock [Member]              
Cash flows from financing activities:              
Repurchase of Series D Preferred Stock, at cost         0 (250,770)  
Non-cash financing activities:              
Dividends payable 195,310   175,758   195,310 175,758  
Common Class A [Member]              
Non-cash financing activities:              
Dividends payable $ 0   $ 302,495   0 302,495  
Conduit Pharmaceuticals Inc [Member]              
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:              
Net loss in Conduit Pharmaceuticals fair value marketable securities         17,821,437 17,682,154  
All Other Than Conduit [Member]              
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:              
Net loss in Conduit Pharmaceuticals fair value marketable securities         $ 560 $ (169,530)