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Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Income Statement [Abstract]        
Rental income $ 10,212,418 $ 10,241,690 $ 30,255,185 $ 28,323,568
Expenses:        
General and administrative 1,838,388 2,907,956 5,559,753 7,526,577
Stock compensation expense 549,240 743,609 1,740,852 2,115,341
Depreciation and amortization 3,598,592 3,814,503 10,581,765 11,817,529
Interest expense 2,514,838 1,831,545 5,280,167 5,711,330
Property expenses 2,063,892 1,681,059 6,794,369 5,302,292
Reversal of impairment of real estate investment property 0 0 0 (400,999)
Impairment of goodwill 0 0 17,320,857 0
Total expenses 10,564,950 10,978,672 47,277,763 32,072,070
Operating income (loss):        
Gain on sale of real estate investments 4,671,284 4,242,771 13,074,162 4,532,413
Operating income (loss) 4,318,752 3,505,789 (3,948,416) 783,911
Other income (expense):        
Interest income 1,665 1,270 16,863 1,370
Income from unconsolidated investment in a real estate property 64,358 75,403 226,690 222,705
Gain on forgiveness of economic relief note payable 0 0 0 517,000
Loss on early extinguishment of debt 0 0 (1,725,318) 0
Other 65,992 65,993 198,128 217,978
Other income (expense), net 132,015 142,666 (1,283,637) 959,053
Net income (loss) 4,450,767 3,648,455 (5,232,053) 1,742,964
Less: net income (loss) attributable to noncontrolling interest in Operating Partnership 528,540 0 (1,180,275) 0
Net income (loss) attributable to Modiv Inc. 3,922,227 3,648,455 (4,051,778) 1,742,964
Preferred stock dividends (921,875) (143,403) (2,765,625) (143,403)
Net income (loss) attributable to common stockholders, basic $ 3,000,352 $ 3,505,052 $ (6,817,403) $ 1,599,561
Net income (loss) per share attributable to common stockholders:        
Net income (loss) per share attributable to common stockholders, basic (in usd per share) $ 0.40 $ 0.47 $ (0.91) $ 0.21
Net income (loss) per share attributable to common stockholders, diluted (in usd per share) $ 0.35 $ 0.40 $ (0.91) $ 0.18
Weighted-average number of common shares outstanding:        
Weighted-average number of common shares outstanding, basic (in shares) 7,449,968 7,531,559 7,486,945 7,575,013
Weighted-average number of common shares outstanding, diluted (in shares) 10,180,543 8,750,875 7,486,945 8,763,112
Distributions declared per common share (in usd per share) $ 0.2875 $ 0.2625 $ 0.9625 $ 0.7875