Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Summary of Disaggregation of Lease Income

The following table provides a disaggregation of lease income recognized as either fixed or variable lease income:

	2022			2021
Rental income
Fixed and in-substance fixed lease income	$	4,510,677		$	3,213,975
Variable lease income		608,985			453,629
Other related lease income, net:
Amortization of below market leases		102,183			147,228
Straight line rent, net		172,933			40,014
Total Rental income		5,394,778	-		3,854,846

Summary of Concentration of Risk Percentage of Tenants

For the twelve months ended December 31, 2022 and 2021, we had four tenants that each account for more than 10% of our annual rental revenue as indicated below:

	2022			2021
General Services Administration - Norfolk, VA & Manteo, NC		22	%		23	%
PRA Holdings, Inc. - Norfolk, VA		16	%		19	%
Pratt & Whitney Automation, Inc. - Huntsville, AL		15	%		18	%
Kohl's Corporation - Tucson, AZ		14	%		0	%
Maersk Shipping	<10%				10	%

Summary of Future Minimum Rental Payments Due to the Company

The following table presents future minimum rental cash payments due to the Company over the next five calendar years and thereafter as of December 31:

	As of December 31,
	2022
2023	$	4,759,066
2024		4,785,452
2025		4,635,711
2026		4,513,724
2027		3,919,117
Thereafter		5,210,921
		27,823,991

Summary of Future Minimum Rental Cash Payments Due and Undiscounted Future Cash Flows

The following table summarizes the undiscounted future cash flows for subsequent years ending December 31 attributable to the lease liability as December 31, 2022 and provides a reconciliation to the lease liability included in the accompanying Consolidated Balance Sheets as of December 31, 2022.

	As of December 31,
	2022
2023	$	232,701
2024		244,077
2025		245,111
2026		245,111
2027		245,111
Thereafter		21,820,644
Total undiscounted liability	$	23,032,755
Present value discount		(16,676,467	)
Lease liability	$	6,356,288
Discount rate		4.58	%
Term	61 years