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Leases
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Leases

Note 8 – Leases

Future Minimum Rents

For the year ended December 31, 2021 and 2020, we had four tenants that each account for more than 10% of our rental revenue as indicated below:

 

 

 

2021

 

 

2020

 

Pratt and Whitney – Huntsville, AL property

 

17.8%

 

 

21.0%

 

General Services Administration – Walmer Ave.

   Norfolk, VA property

 

22.9%

 

 

25.3%

 

Maersk Shipping – Walmer Ave. Norfolk, VA property

 

9.7%

 

 

10.7%

 

PRA Holding – Corporate Blvd. Norfolk, VA property

 

18.9%

 

 

21.8%

 

 

Future Minimum Rents

The following table presents future minimum rental cash payments due to the Company over the next five calendar years and thereafter as of December 31, 2021:

 

 

 

Future Minimum

Rent Payments

 

2022

 

$

3,796,000

 

2023

 

 

3,427,000

 

2024

 

 

3,432,000

 

2025

 

 

3,296,000

 

2026

 

 

3,211,000

 

Thereafter

 

 

6,298,000

 

 

 

$

23,460,000