Note Payable and Revolving Line of Credit (Tables)

12 Months Ended

Dec. 31, 2020

Notes Payable [Abstract]

Carrying Value of Note Payable

As of December 31, 2020 and 2019 the carrying value of the Company’s note payable is summarized as follows:

Note Payable	December 31, 2020			December 31, 2019
Principal balance outstanding	$	18,847,475		$	19,338,556
Less: Loan procurement costs, net		(458,299	)		(498,769	)
Total note payable, net	$	18,389,176		$	18,839,787

Future Principal Payment Requirements

The following table represents the future principal payment requirements on the note payable as of December 31, 2020:

2021	$	513,857
2022		535,816
2023		558,714
2024		582,591
2025		607,488
2026 and thereafter		16,049,009
Total principal payments	$	18,847,475