Note 12 - Segments (Tables)

6 Months Ended

Jun. 30, 2022

Notes Tables

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Office/Industrial Properties:
Rental, fees and other income	$	3,150,251		$	3,317,847		$	6,273,139		$	7,260,652
Property and related expenses		(1,174,391	)		(1,262,483	)		(2,530,925	)		(3,116,754	)
Net operating income, as defined		1,975,860			2,055,364			3,742,214			4,143,898
Model Home Properties:
Rental, fees and other income		696,964			845,412			1,407,292			1,789,190
Property and related expenses		(25,440	)		(30,215	)		(53,208	)		(80,501	)
Net operating income, as defined		671,524			815,197			1,354,084			1,708,689
Retail Properties:
Rental, fees and other income		471,344			683,324			1,224,685			1,465,495
Property and related expenses		(145,951	)		(193,117	)		(358,538	)		(427,483	)
Net operating income, as defined		325,393			490,207			866,147			1,038,012
Reconciliation to net loss:
Total net operating income, as defined, for reportable segments		2,972,777			3,360,768			5,962,445			6,890,599
General and administrative expenses		(1,214,005	)		(1,344,770	)		(2,797,696	)		(2,882,036	)
Depreciation and amortization		(1,316,193	)		(1,368,209	)		(2,655,418	)		(2,797,143	)
Interest expense		(1,085,860	)		(1,207,036	)		(2,103,573	)		(2,791,430	)
Gain on extinguishment of government debt		—			—			—			10,000
Other income (expense), net		93,128			(20,657	)		166,733			(53,443	)
Income tax expense		(259,285	)		(238,701	)		(524,524	)		(288,899	)
Gain (loss) on sale of real estate		1,227,484			2,594,341			2,750,269			1,433,014
Net income (loss)	$	418,046		$	1,775,736		$	798,236		$	(479,338	)

Reconciliation of Assets from Segment to Consolidated [Table Text Block]

	June 30,		December 31,
Assets by Reportable Segment:	2022		2021
Office/Industrial Properties:
Land, buildings and improvements, net (1)	$	77,224,583	$	78,240,086
Total assets (2)	$	78,900,054	$	76,453,436
Model Home Properties:
Land, buildings and improvements, net (1)	$	32,009,456	$	34,089,046
Total assets (2)	$	30,652,005	$	31,047,202
Retail Properties:
Land, buildings and improvements, net (1)	$	16,227,501	$	25,693,239
Total assets (2)	$	16,909,932	$	27,579,469
Reconciliation to Total Assets:
Total assets for reportable segments	$	126,461,991	$	135,080,107
Other unallocated assets:
Cash, cash equivalents and restricted cash		12,154,873		6,738,345
Other assets, net		150,479,259		19,378,311
Total Assets	$	289,096,123	$	161,196,763

Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block]

	For the Six Months Ended June 30,
Capital Expenditures by Reportable Segment	2022		2021
Office/Industrial Properties:
Capital expenditures and tenant improvements	$	832,990	$	289,685
Model Home Properties:
Acquisition of operating properties		4,646,330		2,851,800
Retail Properties:
Acquisition of operating properties		—		—
Capital expenditures and tenant improvements		—		42,823
Totals:
Acquisition of operating properties, net		4,646,330		2,851,800
Capital expenditures and tenant improvements		832,990		332,508
Total real estate investments	$	5,479,320	$	3,184,308