Acquired Lease Intangible Liabilities, Net

12 Months Ended

Dec. 31, 2023

Below Market Lease [Abstract]

Acquired Lease Intangible Liabilities, Net

Note 5 – Acquired Lease Intangible Liabilities, net

Acquired lease intangible liabilities are comprised of the following:

	As of December 31,			As of December 31,
	2023			2022
Acquired lessor lease intangible liabilities	$	1,304,309		$	965,216
Accumulated accretion to rental income		(331,932	)		(369,858	)
Acquired lessor lease intangible liabilities, net	$	972,377		$	595,358
Acquired lessee lease intangible liabilities	$	45,207		$	45,207
Accumulated amortization to offset building expenses		(1,324	)		(592	)
Acquired lessee lease intangible liabilities, net	$	43,883		$	44,615

The amortization for acquired lessor lease intangible liabilities for the twelve months ended December 31, 2023 and 2022 was $171,925 and $102,183, respectively. The future amortization for acquired lessor lease intangible liabilities is listed below:

	As of December 31,
	2023
2024		136,166
2025		135,543
2026		119,262
2027		110,322
2028		109,706
Thereafter		361,378
	$	972,377

The amortization for acquired lessee lease intangible liabilities for the twelve months ended December 31, 2023 and 2022 was $732 and $592, respectively. The future amortization for acquired lessee lease intangible liabilities is listed below:

	As of December 31,
	2023
2024	$	732
2025		732
2026		732
2027		732
2028		732
Thereafter		40,223
	$	43,883