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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2024
Dec. 31, 2023
ASSETS    
Investment properties, net $ 65,155,785 $ 64,577,376
Cash 3,121,333 2,234,603
Restricted cash 1,847,326 1,575,002
Rent and other receivables, net of allowance of $31,145 and $13,413, as of September 30, 2024 and December 31, 2023, respectively 215,532 292,618
Assets held for sale   9,707,154
Unbilled rent 1,077,746 1,109,782
Intangible assets, net 2,448,365 2,716,546
Other assets 741,398 532,935
Total Assets 74,607,485 82,746,016
LIABILITIES    
Accounts payable and accrued liabilities 1,291,987 1,095,049
Intangible liabilities, net 1,736,263 1,865,310
Line of credit, short term, net   1,000,000
Mortgages payable, net 50,219,369 50,772,773
Mortgages payable, net, associated with assets held for sale   9,588,888
Mandatorily redeemable preferred stock, net 4,890,196 4,693,575
Total Liabilities 58,137,815 69,015,595
EQUITY    
Common stock, 1,115,260 and 1,109,405 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 11,153 11,094
Additional paid-in capital 51,577,572 51,525,303
Offering costs (3,350,946) (3,350,946)
Accumulated deficit (35,678,971) (35,864,693)
Total Stockholders' Equity 12,558,808 12,320,758
Noncontrolling interests - Operating Partnership 3,491,137 837,320
Total Equity 16,469,670 13,730,421
Total Liabilities and Equity 74,607,485 82,746,016
Hanover Square Property    
EQUITY    
Noncontrolling interests   119,140
Parkway Property    
EQUITY    
Noncontrolling interests $ 419,725 $ 453,203