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Mortgage Notes, Loans Payable and Convertible Subordinated Debentures (Tables)
 12 Months Ended
Sep. 30, 2012
Mortgage Notes, Loans Payable and Convertible Subordinated Debentures [Abstract]  
Summary of mortgage notes payable
 
Property
      
Fixed
Rate
  
Maturity
Date
  
Balance
9/30/12
    
Balance
9/30/11
  
                         
                         
White Bear Lake, MN
         7.04 %
01/01/12
     -0-       1,630,739  
Winston Salem, NC
         7.10 %
02/01/12
     -0-       3,288,535  
Schaumburg, IL
         8.48 %
07/01/12
     -0-       299,156  
Montgomery, IL
   (3)     6.50 %
11/01/12
     5,149,186       5,326,758  
Tolleson, AZ
   (4)     5.80 %
12/01/12
     5,233,830       5,978,903  
Ft. Myers, FL
   (8)     6.33 %
12/01/12
     2,126,128       2,257,494  
Liberty, MO
         7.07 %
03/01/13
     259,672       712,603  
Fayetteville, NC
         6.63 %
06/01/13
     3,393,480       3,465,837  
Augusta, GA (FDX)
         6.63 %
06/01/13
     1,075,398       1,098,279  
Lakeland, FL
         6.63 %
06/01/13
     1,314,513       1,344,600  
Rockford, IL
         5.50 %
12/10/13
     1,850,372       1,890,480  
Burr Ridge, IL
         8.00 %
01/01/14
     127,858       206,735  
Omaha, NE
         7.15 %
01/01/14
     566,053       925,151  
Charlottesville, VA
         6.90 %
07/01/14
     506,266       736,435  
Memphis, TN
   (5)     6.25 %
10/15/14
     -0-       9,457,396  
Tampa, FL (Vacant)
         5.71 %
03/01/15
     2,547,002       2,682,850  
Richmond, VA (FDX)
         6.12 %
12/01/15
     1,692,150       2,111,792  
St. Joseph, MO
         8.12 %
03/01/16
     3,041,207       3,783,483  
Wheeling, IL
         5.68 %
03/01/16
     4,792,255       5,189,090  
Beltsville, MD
         7.53 %
05/01/16
     2,122,686       2,585,054  
Beltsville, MD
   (6)     6.50 %
05/01/16
     5,498,374       5,654,938  
Cudahy, WI
         8.15 %
05/01/16
     1,554,081       1,875,565  
Newington, CT
         8.10 %
05/01/16
     883,732       1,071,641  
Griffin, GA
         6.37 %
10/01/16
     8,219,757       8,541,196  
Granite City, IL
         7.11 %
11/01/16
     3,711,003       4,390,459  
Jacksonville, FL
         6.92 %
12/01/16
     1,251,257       1,497,065  
Jacksonville, FL
   (7)     6.00 %
12/01/16
     1,300,000       1,300,000  
Monroe, NC
         7.11 %
12/01/16
     1,609,176       1,922,395  
El Paso, TX
         5.40 %
01/05/17
     4,556,424       4,815,903  
Chattanooga, TN
         5.96 %
05/01/17
     2,370,566       2,546,752  
Elgin, IL
         6.97 %
05/01/17
     2,139,149       2,514,037  
Hanahan, SC (Norton)
         7.36 %
05/01/17
     6,806,437       7,035,392  
                               
Roanoke, VA
         5.96 %
05/30/17
     3,617,193       3,851,152  
Kansas City, MO
         6.11 %
07/01/17
     2,754,812       2,864,711  
Edwardsville, KS
         7.38 %
07/01/17
     2,184,083       2,554,478  
Orion, MI
         6.57 %
08/01/17
     10,453,436       10,849,953  
Cheektowaga, NY
         6.78 %
10/01/17
     1,414,778       1,622,078  
Punta Gorda, FL
         6.29 %
10/01/17
     2,430,666       2,516,855  
Cocoa, FL
         6.29 %
12/01/17
     6,159,845       6,374,577  
Richfield, OH
         5.22 %
01/01/18
     4,323,512       4,596,248  
Bedford Heights, OH
         5.96 %
01/05/18
     3,334,608       3,462,791  
Tampa, FL (FDX)
         5.65 %
04/01/18
     4,755,184       4,925,374  
West Chester Twp, OH
         6.80 %
06/01/18
     2,918,809       3,082,771  
Orlando, FL
         6.56 %
10/01/18
     5,172,705       5,334,238  
Tampa, FL (FDX Gr)
         6.00 %
03/01/19
     9,125,605       9,617,549  
Lebanon, OH
         5.55 %
05/01/19
     2,974,113       -0-  
Lebanon, TN
   (11)     7.60 %
07/10/19
     8,364,855       8,510,325  
Ft Mill, SC
         7.00 %
10/10/19
     3,881,926       4,258,137  
Denver, CO
         6.07 %
11/01/19
     2,138,347       2,350,869  
Hanahan, SC (FDX Gr)
         5.54 %
01/21/20
     2,079,725       2,300,422  
Augusta, GA (FDX Gr)
         5.54 %
01/27/20
     1,512,799       1,673,335  
Huntsville, AL
         5.50 %
03/01/20
     1,517,136       1,661,348  
Colorado Springs, CO
         5.41 %
01/01/21
     2,331,135       2,567,159  
Romulus, MI
   (1)     5.50 %
07/01/21
     2,811,133       2,959,392  
Topeka, KS
         6.50 %
08/10/21
     2,192,408       2,354,047  
Edinburg, TX
   (2)     5.85 %
09/30/21
     4,569,920       4,800,000  
Streetsboro, OH
         5.50 %
11/01/21
     12,387,391       -0-  
Corpus Christi, TX
   (10)     5.85 %
11/01/21
     3,012,724       -0-  
Olive Branch, MS
         4.80 %
04/01/22
     10,807,516       -0-  
Waco, TX
         4.75 %
08/01/22
     5,781,464       -0-  
Houston, TX
         6.88 %
08/10/22
     4,597,844       4,882,197  
Memphis, TN
   (5)     4.50 %
01/01/24
     9,478,694       -0-  
Oklahoma City, OK
         4.35 %
06/01/24
     6,134,146       -0-  
Carrollton, TX
         6.75 %
02/01/25
     10,426,352       10,945,805  
Carlstadt, NJ
         5.25 %
05/15/26
     2,442,483       2,561,646  
Halfmoon, NY
   (9)     5.25 %
01/13/37
     4,158,552       -0-  
Total Mortgage Notes Payable
                 $ 237,943,911     $ 211,614,170  
 
(1)  
Interest rate is fixed at 5.5% for the first 5 years. On July 1, 2016, the interest rate resets to the Federal Home Loan Bank of New York rate plus 275 basis points with a floor of 5.5%.
(2)  
Interest rate is fixed at 5.85% for the first 5 years. On November 1, 2016, the interest rate resets to the Federal Home Loan Bank of New York rate plus 275 basis points with a floor of 5.5%.
(3)  
Loan was fully paid October 2012.
(4)   
Loan was refinanced on October 23, 2012 for $8,000,000 at a fixed rate of 3.95% due November 1, 2022.
(5)
On December 15, 2011 the Company refinanced the existing mortgage balance of $9,432,309 at an interest rate of 6.25% due October 15, 2014 for a new $9,900,000 mortgage, which matures on January 1, 2024 at a fixed interest rate of 4.5%.
(6)  
Interest rate was fixed at 6.65% for the first 3 years. Interest rate is adjusted every 3 years to the Federal Home Loan Bank of New York rate plus 325 basis points with a floor of 6.5%. On July 1, 2012, the interest rate was adjusted from 6.65% to 6.5%.
(7) 
Loan is interest only.
(8)  
Loan was fully paid November 2012.
(9)  
Interest rate is fixed at 5.25% for the first 5 years. Commencing on January 13, 2017, the interest rate is adjusted every 5 years to the 5 year U.S. Treasury yield plus 265 basis points with a floor of 5.25%.
(10) 
Interest rate is fixed at 5.85% for the first 5 years. On December 1, 2016, the interest rate resets to the Federal Home Loan Bank of New York rate plus 275 basis points with a floor of 5.5%.
(11) 
Interest rate is fixed at 5.55% through December 31, 2016. On January 1, 2017 the interest rate resets to the lender’s prevailing rate.
 
Schedule of maturities of long-term debt
 
Year Ending September 30,
2013
   $ 34,684,162  
 
2014
     18,538,092  
 
2015
     19,463,899  
 
2016
     30,929,525  
 
2017
     38,150,699  
 
Thereafter
     96,177,534  
      $ 237,943,911