XML 56 R49.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Mortgage Loans - Schedule of Promissory Notes (Details) - USD ($)
1 Months Ended 3 Months Ended
Apr. 01, 2022
Apr. 30, 2022
Mar. 31, 2024
Dec. 31, 2023
Debt Instrument [Line Items]        
Long-term debt, gross     $ 64,681,274  
Promissory Notes        
Debt Instrument [Line Items]        
Interest Rate 3.85% 2.50%    
Mortgages [Member]        
Debt Instrument [Line Items]        
Promissory note issued amount     60,550,913  
Long-term debt, gross     57,823,894 $ 58,143,672
Less Debt Discount, net     (383,446) (383,767)
Less: debt issuance costs, net     (895,136) (942,595)
Long-term debt     56,545,312 56,817,310
Mortgages [Member] | 7-11 - Washington, DC; Starbucks-South Tampa, FL; and Pratt & Whitney-Hunstville, Alabama        
Debt Instrument [Line Items]        
Promissory note issued amount [1]     $ 11,287,500  
Interest Rate     4.17%  
Maturity date     Mar. 06, 2030  
DSCR Required     1.25%  
Long-term debt, gross     $ 10,705,459 10,757,239
Mortgages [Member] | GSA-Navy - Norfolk, Virginia        
Debt Instrument [Line Items]        
Promissory note issued amount     $ 8,260,000  
Interest Rate     3.50%  
Maturity date     Sep. 30, 2024  
DSCR Required     1.25%  
Long-term debt, gross     $ 7,281,369 7,341,804
Mortgages [Member] | PRA Holdings, Inc. - Norfolk, Virginia        
Debt Instrument [Line Items]        
Promissory note issued amount     $ 5,216,749  
Interest Rate     3.50%  
Maturity date     Oct. 23, 2024  
DSCR Required     1.25%  
Long-term debt, gross     $ 4,520,121 4,562,722
Mortgages [Member] | Sherwin-Williams - Tampa, Florida        
Debt Instrument [Line Items]        
Promissory note issued amount     $ 1,286,664  
Interest Rate [2]     3.72%  
Maturity date     Aug. 10, 2028  
DSCR Required     1.20%  
Long-term debt, gross     $ 1,278,844 1,286,664
Mortgages [Member] | GSA-FBI - Manteo, North Carolina        
Debt Instrument [Line Items]        
Promissory note issued amount [3]     $ 928,728  
Interest Rate [4]     3.85%  
Maturity date     Mar. 31, 2032  
DSCR Required     1.50%  
Long-term debt, gross     $ 908,118 913,958
Mortgages [Member] | Irby Construction - Plant City , Florida        
Debt Instrument [Line Items]        
Promissory note issued amount [3]     $ 928,728  
Interest Rate [4]     3.85%  
Maturity date     Mar. 31, 2032  
DSCR Required     1.50%  
Long-term debt, gross     $ 908,118 913,958
Mortgages [Member] | La Z Boy Inc Rockford Il Member        
Debt Instrument [Line Items]        
Promissory note issued amount     $ 2,100,000  
Interest Rate [4]     3.85%  
Maturity date     Mar. 31, 2032  
Long-term debt, gross     $ 2,053,584 2,066,604
Mortgages [Member] | Best Buy - Grand Junction, Colorado        
Debt Instrument [Line Items]        
Promissory note issued amount [3]     $ 2,552,644  
Interest Rate [4]     3.85%  
Maturity date     Mar. 31, 2032  
DSCR Required     1.50%  
Long-term debt, gross     $ 2,495,997 2,512,050
Mortgages [Member] | Fresenius - Chicago, Illinois        
Debt Instrument [Line Items]        
Promissory note issued amount [3]     $ 1,727,108  
Interest Rate [4]     3.85%  
Maturity date     Mar. 31, 2032  
DSCR Required     1.50%  
Long-term debt, gross     $ 1,688,781 1,699,642
Mortgages [Member] | Starbucks - North Tampa, Florida        
Debt Instrument [Line Items]        
Promissory note issued amount [3]     $ 1,298,047  
Interest Rate [4]     3.85%  
Maturity date     Mar. 31, 2032  
DSCR Required     1.50%  
Long-term debt, gross     $ 1,269,241 1,277,404
Mortgages [Member] | Kohls @ Tucson, Arizona        
Debt Instrument [Line Items]        
Promissory note issued amount [3]     $ 3,964,745  
Interest Rate [4]     3.85%  
Maturity date     Mar. 31, 2032  
DSCR Required     1.50%  
Long-term debt, gross     $ 3,878,651 3,901,694
Mortgages [Member] | City Of San Antonio Prek San Antonio Tx Member        
Debt Instrument [Line Items]        
Promissory note issued amount [3]     $ 6,444,000  
Interest Rate [4]     7.47%  
Maturity date     Aug. 10, 2028  
DSCR Required     1.50%  
Long-term debt, gross     $ 6,394,286 6,416,362
Mortgages [Member] | Dollar General Market Bakersfield Ca Member        
Debt Instrument [Line Items]        
Promissory note issued amount [3]     $ 2,428,000  
Interest Rate [4]     7.47%  
Maturity date     Aug. 10, 2028  
DSCR Required     1.50%  
Long-term debt, gross     $ 2,409,212 2,417,587
Mortgages [Member] | Dollar General Big Spring Tx Member        
Debt Instrument [Line Items]        
Promissory note issued amount [3]     $ 635,000  
Interest Rate [4]     7.47%  
Maturity date     Aug. 10, 2028  
DSCR Required     1.50%  
Long-term debt, gross     $ 630,086 632,277
Mortgages [Member] | Dollar General Castalia Oh Member        
Debt Instrument [Line Items]        
Promissory note issued amount [3]     $ 556,000  
Interest Rate [4]     7.47%  
Maturity date     Aug. 10, 2028  
DSCR Required     1.50%  
Long-term debt, gross     $ 551,698 553,615
Mortgages [Member] | Dollar General East Wilton Me Member        
Debt Instrument [Line Items]        
Promissory note issued amount [3]     $ 726,000  
Interest Rate [4]     7.47%  
Maturity date     Aug. 10, 2028  
DSCR Required     1.50%  
Long-term debt, gross     $ 720,382 722,886
Mortgages [Member] | Dollar General Lakeside Oh Member        
Debt Instrument [Line Items]        
Promissory note issued amount [3]     $ 567,000  
Interest Rate [4]     7.47%  
Maturity date     Aug. 10, 2028  
DSCR Required     1.50%  
Long-term debt, gross     $ 562,612 564,568
Mortgages [Member] | Dollar General Litchfield Me Member        
Debt Instrument [Line Items]        
Promissory note issued amount [3]     $ 624,000  
Interest Rate [4]     7.47%  
Maturity date     Aug. 10, 2028  
DSCR Required     1.50%  
Long-term debt, gross     $ 619,171 621,324
Mortgages [Member] | Dollar General Mount Gilead Oh Member        
Debt Instrument [Line Items]        
Promissory note issued amount [3]     $ 533,000  
Interest Rate [4]     7.47%  
Maturity date     Aug. 10, 2028  
DSCR Required     1.50%  
Long-term debt, gross     $ 528,876 530,714
Mortgages [Member] | Dollar General Thompsontown Pa Member        
Debt Instrument [Line Items]        
Promissory note issued amount [3]     $ 556,000  
Interest Rate [4]     7.47%  
Maturity date     Aug. 10, 2028  
DSCR Required     1.50%  
Long-term debt, gross     $ 551,698 553,615
Mortgages [Member] | Dollar Tree Stores Inc Morrow Ga Member        
Debt Instrument [Line Items]        
Promissory note issued amount [3]     $ 647,000  
Interest Rate [4]     7.47%  
Maturity date     Aug. 10, 2028  
DSCR Required     1.50%  
Long-term debt, gross     $ 641,993 644,225
Mortgages [Member] | Exp U S Services Inc Exp U S Services Inc Member        
Debt Instrument [Line Items]        
Promissory note issued amount [3]     $ 2,950,000  
Interest Rate [4]     7.47%  
Maturity date     Aug. 10, 2028  
DSCR Required     1.50%  
Long-term debt, gross     $ 2,927,172 2,937,348
Mortgages [Member] | General Services Administration Vacaville Ca Member        
Debt Instrument [Line Items]        
Promissory note issued amount [3]     $ 1,293,000  
Interest Rate [4]     7.47%  
Maturity date     Aug. 10, 2028  
DSCR Required     1.50%  
Long-term debt, gross     $ 1,282,995 1,287,454
Mortgages [Member] | Walgreens Santa Maria Ca Member        
Debt Instrument [Line Items]        
Promissory note issued amount [3]     $ 3,041,000  
Interest Rate [4]     7.47%  
Maturity date     Aug. 10, 2028  
DSCR Required     1.50%  
Long-term debt, gross     $ 3,015,430 $ 3,027,958
[1]

(a) Loan subject to prepayment penalty

[2]

(b) Fixed via interest rate swap

[3]

(c) One loan in the amount of $11.4 million secured by six properties and allocated to each property based on each property's appraised value.

[4]

(d) Adjustment effective April 1, 2027 equal to 5-year Treasury plus 2.5% and subject to a floor of 3.85%

(e) One loan in the amount of $21.0 million secured by 13 properties and allocated to each property based on each property's appraised value.