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Consolidated Balance Sheets - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Investment in real estate    
Land $ 12,577,544 $ 12,577,544
Building and site improvements 39,772,590 39,764,890
Tenant improvements 907,382 907,382
Acquired lease intangible assets 4,387,526 4,677,928
Less: accumulated depreciation and amortization (6,441,616) (5,623,318)
Net real estate investments 51,203,426 52,304,426
Investment in tenancy-in-common 1,247,679 1,218,268
Cash and cash equivalents 2,105,392 3,718,496
Restricted cash 34,500 34,500
Deferred rent asset 319,528 288,797
Prepaid expenses 533,446 132,642
Accounts receivable 125,299 96,063
Escrow deposit and other assets 285,287 184,241
Right of use asset, net 6,190,529 6,232,662
Total Assets 62,045,086 64,210,095
Liabilities    
Accounts payable 242,855 173,461
Accrued expenses 379,508 365,624
Accrued expense - related party 506,000 128,901
Acquired lease intangible liabilities, net 537,618 639,973
Insurance payable 239,301 46,368
Deferred rent liability 232,550 251,798
Lease liability, net 6,365,937 6,356,288
Other payable - related party 2,262,300 2,587,300
Loan payable - related party 1,500,000 1,500,000
Mortgage loans, net of unamortized debt issuance costs of $659,651 and $717,381 at June 30, 2023 and December 31, 2022, respectively 34,958,848 35,233,878
Total liabilities 47,224,917 47,283,591
Redeemable Non-Controlling Interests 6,343,042 5,789,731
Stockholders' Equity    
Common stock, $0.01 par value, 100,000,000 shares authorized; 2,617,538 and 2,501,644 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively 26,175 25,016
Additional paid-in capital 18,870,576 19,307,518
Accumulated deficit (10,839,825) (8,640,796)
Total Generation Income Properties, Inc. stockholders' equity 8,056,926 10,691,738
Non-Controlling Interest 420,201 445,035
Total equity 8,477,127 11,136,773
Total Liabilities and Stockholders' Equity $ 62,045,086 $ 64,210,095