Acquired Lease Intangible Liabilities, Net

3 Months Ended

Mar. 31, 2022

Below Market Lease [Abstract]

Acquired Lease Intangible Liabilities, net

Note 5 – Acquired Lease Intangible Liabilities, net

Acquired lease intangible liabilities is comprised of the following:  

	March 31,	December 31,
	2022	2021
Acquired lessor lease intangible liabilities	$965,216	$845,063
Less: recognized rental income	(291,516)	(267,675)
Total below market lease, net	$673,700	$577,388
Acquired lessee lease intangible liability	$45,207	$-
Less: recognized decrease in building expense	(43)	-
Total above market lease, net	$45,164	$-
Total acquired lease intangible liabilities, net	$718,864	$-

The amortization for below market leases for the three months ended March 31, 2022 and 2021 was $23,841 and $33,161, respectively. The amortization for the above market lease liability for the three months ended March 31, 2022 and 2021 was approximately $43 and $0, respectively.

 The future amortization for intangible liabilities is listed below (rounded to the nearest hundred):

	As of March 31, 2022
2022	$78,900
2023	105,200
2024	105,200
2025	105,200
2026	93,900
Thereafter	230,500
	$718,900