Leases (Tables)

3 Months Ended

Mar. 31, 2025

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 three months ended March 31, 2025 and 2024:

	2025			2024
Rental income
Fixed and in-substance fixed lease income	$	2,192,055		$	1,949,206
Variable lease income		197,879			388,729
Other related lease income, net:
Amortization of above- and below-market leases, net		(60,145	)		(67,969	)
Straight line rent revenue		41,508			4,764
Total rental income	$	2,371,297		$	2,274,730

Summary of Concentration of Risk Percentage of Tenants

For the three months ended March 31, 2025 and 2024, we had three tenants that each account for more than 10% of our rental revenue as indicated below:

	2025			2024
General Services Administration - Norfolk, VA, Manteo, NC & Vacaville, CA		14	%		16	%
Pre-K - San Antonio, TX		10	%		14	%
Dollar General - multiple locations		12	%		13	%

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 ending December 31 is listed below:

	As of March 31,
	2025
2025 (9 months remaining)	$	6,984,283
2026		9,081,429
2027		7,273,565
2028		5,617,155
2029		4,365,213
Thereafter		21,722,580
	$	55,044,225

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 of March 31, 2025 and provides a reconciliation to the lease liability included in the accompanying Consolidated Balance Sheets as of March 31, 2025.

	As of March 31,
	2025
2025 (9 months remaining)		183,833
2026		245,111
2027		245,111
2028		245,111
2029		257,839
Thereafter		21,317,695
Total undiscounted liability	$	22,494,700
Present value discount		(16,017,240	)
Lease liability	$	6,477,460
Discount rate		4.58	%
Term Remaining	59 years