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Debt (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt Disclosure [Abstract] |
Schedule of Mortgage Loans Outstanding | The Company had the following mortgage loans outstanding as of December 31, 2023 and December 31, 2022, respectively:
Mortgage Loans Secured By |  | Location | Original Loan Amount |  |  | Interest Rate |  | Maturity Date | 12/31/2023 |  | 12/31/2022 |  | Debt Service Coverage Ratios ("DSCR") Required
7-Eleven Corporation, Starbucks Corporation, and Pratt & Whitney Automation, Inc. |  | Washington, D.C., Tampa, FL, and Huntsville, AL | $ | 11,287,500 |  | (a) | 4.17% |  | 3/6/2030 | $ | 10,757,239 |  | $ | 10,957,829 |  | 1.25
General Services Administration-Navy & Vacant Unit |  | Norfolk, VA |  | 8,260,000 |  |  | 3.50% |  | 9/30/2024 |  | 7,341,804 |  |  | 7,578,304 |  | 1.25
PRA Holdings, Inc. |  | Norfolk, VA |  | 5,216,749 |  |  | 3.50% |  | 10/23/2024 |  | 4,562,722 |  |  | 4,728,462 |  | 1.25
Sherwin Williams Company |  | Tampa, FL |  | 1,286,664 |  |  | 3.72% | (b) | 8/10/2028 |  | 1,286,664 |  |  | 1,286,664 |  | 1.20
General Services Administration-FBI |  | Manteo, NC |  | 928,728 |  | (c) | 3.85% | (d) | 3/31/2032 |  | 913,958 |  |  | 928,728 |  | 1.50
Irby Construction |  | Plant City , FL |  | 928,728 |  | (c) | 3.85% | (d) | 3/31/2032 |  | 913,958 |  |  | 928,728 |  | 1.50
La-Z-Boy Inc. |  | Rockford, IL |  | 2,100,000 |  |  | 3.85% | (d) | 3/31/2032 |  | 2,066,604 |  |  | - |  | 1.50
Best Buy Co., Inc. |  | Grand Junction, CO |  | 2,552,644 |  | (c) | 3.85% | (d) | 3/31/2032 |  | 2,512,050 |  |  | 2,552,644 |  | 1.50
Fresenius Medical Care Holdings, Inc. |  | Chicago, IL |  | 1,727,108 |  | (c) | 3.85% | (d) | 3/31/2032 |  | 1,699,642 |  |  | 1,727,108 |  | 1.50
Starbucks Corporation |  | Tampa, FL |  | 1,298,047 |  | (c) | 3.85% | (d) | 3/31/2032 |  | 1,277,404 |  |  | 1,298,047 |  | 1.50
Kohl's Corporation |  | Tucson, AZ |  | 3,964,745 |  | (c) | 3.85% | (d) | 3/31/2032 |  | 3,901,694 |  |  | 3,964,745 |  | 1.50
City of San Antonio (PreK) |  | San Antonio, TX |  | 6,444,000 |  | (e) | 7.47% | (b) | 8/10/2028 |  | 6,416,362 |  |  | - |  | 1.50
Dollar General Market |  | Bakersfield, CA |  | 2,428,000 |  | (e) | 7.47% | (b) | 8/10/2028 |  | 2,417,587 |  |  | - |  | 1.50
Dollar General |  | Big Spring, TX |  | 635,000 |  | (e) | 7.47% | (b) | 8/10/2028 |  | 632,277 |  |  | - |  | 1.50
Dollar General |  | Castalia, OH |  | 556,000 |  | (e) | 7.47% | (b) | 8/10/2028 |  | 553,615 |  |  | - |  | 1.50
Dollar General |  | East Wilton, ME |  | 726,000 |  | (e) | 7.47% | (b) | 8/10/2028 |  | 722,886 |  |  | - |  | 1.50
Dollar General |  | Lakeside, OH |  | 567,000 |  | (e) | 7.47% | (b) | 8/10/2028 |  | 564,568 |  |  | - |  | 1.50
Dollar General |  | Litchfield, ME |  | 624,000 |  | (e) | 7.47% | (b) | 8/10/2028 |  | 621,324 |  |  | - |  | 1.50
Dollar General |  | Mount Gilead, OH |  | 533,000 |  | (e) | 7.47% | (b) | 8/10/2028 |  | 530,714 |  |  | - |  | 1.50
Dollar General |  | Thompsontown, PA |  | 556,000 |  | (e) | 7.47% | (b) | 8/10/2028 |  | 553,615 |  |  | - |  | 1.50
Dollar Tree Stores, Inc. |  | Morrow, GA |  | 647,000 |  | (e) | 7.47% | (b) | 8/10/2028 |  | 644,225 |  |  | - |  | 1.50
exp U.S. Services Inc. |  | Maitland, FL |  | 2,950,000 |  | (e) | 7.47% | (b) | 8/10/2028 |  | 2,937,348 |  |  | - |  | 1.50
General Services Administration |  | Vacaville, CA |  | 1,293,000 |  | (e) | 7.47% | (b) | 8/10/2028 |  | 1,287,454 |  |  | - |  | 1.50
Walgreens |  | Santa Maria, CA |  | 3,041,000 |  | (e) | 7.47% | (b) | 8/10/2028 |  | 3,027,958 |  |  | - |  | 1.50
|  |  | $ | 60,550,913 |  |  |  |  |  | $ | 58,143,672 |  | $ | 35,951,259 |  |
|  |  |  |  |  |  |  | Less Debt Discount, net |  | (383,767 | ) |  | - |  |
|  |  |  |  |  |  |  | Less Debt Issuance Costs, net | $ | (942,595 | ) | $ | (717,381 | ) |
|  |  |  |  | 56,817,310 |  |  | 35,233,878 |  |
(a) Loan subject to prepayment penalty (b) Fixed via interest rate swap (c) One loan in the amount of $11.4 million secured by six properties and allocated to each property based on each property's appraised value. (d) Adjustment effective April 1, 2027 equal to 5-year Treasury plus 2.5% and subject to a floor of 3.85% (e) One loan in the amount of $21.0 million secured by 13 properties and allocated to each property based on each property's appraised value.
Schedule of Minimum Required Principal Payments | Minimum required principal payments on the Company’s debt for subsequent years ending December 31 are as follows:
| Mortgage Loans |  |  | Other Payable - Related Party |  |  | Loan Payable - Related Party |  | Total as of December 31, 2023 |
2024 |  | 12,780,776 |  |  |  | 1,809,840 |  |  |  | - |  |  | 14,590,616 |
2025 |  | 926,633 |  |  |  | - |  |  |  | - |  |  | 926,633 |
2026 |  | 976,467 |  |  |  | - |  |  |  | 5,500,000 |  |  | 6,476,467 |
2027 |  | 1,033,322 |  |  |  | - |  |  |  | - |  |  | 1,033,322 |
2028 |  | 21,341,791 |  |  |  | - |  |  |  | - |  |  | 21,341,791 |
Thereafter |  | 21,084,683 |  |  |  | - |  |  |  | - |  |  | 21,084,683 |
| $ | 58,143,672 |  |  | $ | 1,809,840 |  |  | $ | 5,500,000 |  | $ | 65,453,512 |

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