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Property
9 Months Ended
Sep. 30, 2011
Notes to Financial Statements 
Property

Properties owned by the Partnership are all mini-storage facilities. Depreciation is calculated using the straight-line method over the estimated useful life of 20 years. Property under capital leases is amortized over the lives of the respective leases. The total cost of property and accumulated depreciation at September 30, 2011 and December 31, 2010 were as follows:


 
September 30, 2011 December 31, 2010
Land $ 1,512,000 $ 1,512,000
Buildings and improvements 7,614,635 7,595,710
Rental trucks under capital leases 161,181 161,181
Total 9,287,816 9,268,891
Less accumulated depreciation (7,711,849) (7,695,388)
Property - net $ 1,575,967 $ 1,573,503