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Acquired Lease Intangible Assets, Net | 12 Months Ended
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Dec. 31, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract] |
Acquired Lease Intangible Assets, Net | Note 4 – Acquired Lease Intangible Assets, net Intangible assets, net is comprised of the following:
| As of December 31, |  |  | As of December 31, |
| 2023 |  |  | 2022 |
Acquired lease intangible assets | $ | 10,571,331 |  |  | $ | 4,677,928 |
Accumulated amortization |  | (2,581,586 | ) |  |  | (1,522,570 | )
Acquired lease intangible assets, net | $ | 7,989,745 |  |  | $ | 3,155,358 |
The acquired lease intangible assets balance as of December 31, 2023 consists of $8,914,075 in-place leases and $1,657,256 above market leases. The acquired lease intangible assets balance as of December 31, 2022 consists of $4,677,928 in-place leases. The amortization for in-place assets for the twelve months ended December 31, 2023 and 2022 was $1,181,837 and $527,713, respectively. The amortization for above market leases for the twelve months ended December 31, 2023 and 2022 was $169,784 and $0, respectively. The future amortization for intangible assets is listed below:
| As of December 31, |
| 2023 |
2024 | $ | 1,800,293 |
2025 |  | 1,695,766 |
2026 |  | 1,604,583 |
2027 |  | 969,931 |
2028 |  | 816,408 |
Thereafter |  | 1,102,764 |
| $ | 7,989,745 |

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- References No definition available. + Details
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