Investments in Real Estate (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Acquired Properties

The following table details the properties acquired during the twelve months ended December 31, 2022.

	Fresenius-Chicago, IL			Starbucks -Tampa, FL			Kohl's -Tucson, AZ			Total
Land	$	1,690,837		$	1,443,262		$	-		$	3,134,099
Building and site improvements		1,217,395			700,859			6,175,908			8,094,162
Tenant improvements		55,041			20,504			349,136			424,681
Acquired lease intangible assets		276,013			112,830			981,203			1,370,046
Total real estate investments	$	3,239,286		$	2,277,455		$	7,506,247		$	13,022,988
Right of use asset		-			-			6,304,334			6,304,334
Less: Acquired lease intangible liabilities		(19,864	)		(13,497	)		(131,999	)		(165,360	)
Less: Lease liability		-			-			(6,304,334	)		(6,304,334	)
Total real estate investments, net	$	3,219,422		$	2,263,958		$	7,374,248		$	12,857,628

The following table details the Modiv properties acquired during the twelve months ended December 31, 2023.

Land	7,982,005
Building and site improvements	29,426,578
Tenant improvements	1,306,203
Acquired lease intangible assets	5,764,762
Total real estate investments	44,479,548
Less: Acquired lease intangible liabilities	(548,944	)
Total real estate investments, net	43,930,604

	La-Z-Boy - Rockford, IL
Land		1,437,353
Building and site improvements		2,412,300
Tenant improvements		33,497
Acquired lease intangible assets		421,250
Total real estate investments		4,304,400