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Consolidated Balance Sheets - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Investment in real estate    
Land $ 12,577,544 $ 9,443,445
Building and site improvements 39,695,210 31,581,864
Tenant improvements 907,382 482,701
Acquired lease intangible assets 4,677,928 3,304,014
Less accumulated depreciation and amortization (4,501,912) (3,512,343)
Total real estate investments, net 53,356,152 41,299,681
Investment in tenancy-in-common 1,188,061 725,082
Cash and cash equivalents 3,649,084 10,589,576
Restricted cash 34,581 34,500
Deferred rent asset 197,364 156,842
Prepaid expenses 256,817 237,592
Deferred financing costs 87,020 0
Accounts receivable 94,797 88,661
Escrow deposit and other assets 159,969 288,782
Right of use asset, net 6,275,398 0
Total Assets 65,299,243 53,420,716
Liabilities    
Accounts payable 21,769 201,727
Accrued expenses 398,710 134,816
Acquired lease intangible liabilities, net 692,567 577,388
Insurance payable 207,837 33,359
Deferred rent liability 286,931 228,938
Right of use liability, net 6,327,851 0
Mortgage loans, net of unamortized debt issuance costs of $786,490 and $637,693 at June 30, 2022 and December 31, 2021, respectively 35,455,512 28,969,295
Total liabilities 43,391,177 30,145,523
Redeemable Non-Controlling Interests 9,869,631 9,134,979
Stockholders' Equity    
Common stock, $0.01 par value, 100,000,000 shares authorized; 2,257,787 and 2,172,950 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively 22,577 21,729
Additional paid-in capital 18,584,981 19,051,929
Accumulated deficit (7,025,510) (5,403,156)
Total Generation Income Properties, Inc. stockholders' equity 11,582,048 13,670,502
Non-Controlling Interest 456,387 469,712
Total equity 12,038,435 14,140,214
Total Liabilities and Stockholders' Equity $ 65,299,243 $ 53,420,716