Acquired Lease Intangible Assets, Net

6 Months Ended

Jun. 30, 2023

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Acquired Lease Intangible Assets, Net

Note 4 – Acquired Lease Intangible Assets, net

Acquired lease intangible assets, net is comprised of the following:

	As of June 30,			As of December 31,
	2023			2022
Acquired lease intangible assets	$	4,387,526		$	4,677,928
Accumulated amortization		(1,503,470	)		(1,522,570	)
Acquired lease intangible assets, net	$	2,884,056		$	3,155,358

The amortization for lease intangible assets for the three months ended June 30, 2023 and 2022 was $135,739 and $138,025, respectively. The amortization for lease intangible assets for the six months ended June 30, 2023 and 2022 was $271,302 and $252,017, respectively. The future amortization for acquired lease intangible assets, net for subsequent years ending December 31 is listed below:

	As of June 30,
	2023
2023 (6 months remaining)	$	545,335
2024		530,506
2025		446,443
2026		426,512
2027		331,580
Thereafter		603,681
	$	2,884,056