Mortgages Payable

12 Months Ended

Dec. 31, 2023

Notes Payable, Noncurrent [Abstract]

Mortgages Payable

Note 4 – Mortgages Payable:

As of December 31, 2022, NNN had mortgages payable, including unamortized premium and net of unamortized debt costs, of $9,964,000. The mortgages payable had an interest rate of 5.23% and matured July 2023. The loan was secured by a first lien on five of the Properties and the carrying value of the assets was $18,485,000 as of December 31, 2022. In April 2023, NNN repaid the remaining mortgages payable principal balance of $9,774,000.