Acquired Lease Intangible Liability, Net

9 Months Ended

Sep. 30, 2021

Below Market Lease [Abstract]

Acquired Lease Intangible Liability, net

Note 5 – Acquired Lease Intangible Liability, net

Acquired lease intangible liability is comprised of the following:  

	September 30,	December 31,
	2021	2020
Acquired lease intangible liability	$845,063	$585,792
Less: recognized rental income	(236,366)	(170,144)
Total below market lease, net	$608,697	$415,648

The amortization for below market leases for the three and nine-months ended September 30, 2021 and 2020 was approximately $40,300 and $115,921 for 2021 and $27,400 and $82,100 for 2020, respectively.

The future amortization for intangible liabilities is listed below:

	As of September 30, 2021
2021 (three months)	$31,300
2022	86,700
2023	86,700
2024	86,700
2025	86,700
Thereafter	230,600
	$608,700