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Note 5 - Lease Intangibles | 12 Months Ended
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Dec. 31, 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:
|  | December 31, 2024 |  |  | December 31, 2023 |
|  | Lease Intangibles |  |  | Accumulated Amortization |  |  | Lease Intangibles, net |  |  | Lease Intangibles |  |  | Accumulated Amortization |  |  | Lease Intangibles, net |
In-place leases |  | $ | 2,515,264 |  |  | $ | (2,504,799 | ) |  | $ | 10,465 |  |  | $ | 2,515,264 |  |  | $ | (2,495,016 | ) |  | $ | 20,248 |
Leasing costs |  |  | 1,261,390 |  |  |  | (1,252,078 | ) |  |  | 9,312 |  |  |  | 1,261,390 |  |  |  | (1,244,335 | ) |  |  | 17,055 |
Above-market leases |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 333,485 |  |  |  | (333,485 | ) |  |  | — |
|  | $ | 3,776,654 |  |  | $ | (3,756,877 | ) |  | $ | 19,777 |  |  | $ | 4,110,139 |  |  | $ | (4,072,836 | ) |  | $ | 37,303 |
At December 31, 2024 and 2023, there were no net 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 $8,625 and $13,266 relating to below-market leases at December 31, 2024 and December 31, 2023, respectively. Amortization of below-market rent totaled approximately $4,641 and $4,974 for the years ended December 31, 2024 and 2023. Future aggregate approximate amortization expense for the Company's lease intangible assets is as follows:
2025 |  |  | 15,670 |
2026 |  |  | 4,107 |
Thereafter |  |  | — |
Total |  | $ | 19,777 |

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