Segment Disclosures (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Summary of Reportable Segments

The following table summarizes information for the reportable segment for the years ended December 31, 2024, 2023, and 2022:

	Years ended December 31,
	2024			2023			2022
Leasing and leasing related revenues	$	34,927,831		$	32,592,265		$	30,055,980
Property operating expenses:
Payroll		(15,650,084	)		(14,387,880	)		(13,627,343	)
Food and related items		(2,059,485	)		(1,861,485	)		(1,662,315	)
Utilities		(1,786,813	)		(1,579,789	)		(1,346,487	)
Third-party property management fees		(1,702,174	)		(1,555,284	)		(1,342,763	)
Repairs and maintenance		(1,195,341	)		(1,235,142	)		(929,487	)
Property taxes		(963,015	)		(993,298	)		(977,643	)
Other direct property costs		(2,215,029	)		(1,937,857	)		(1,757,562	)
Total property operating expenses		(25,571,941	)		(23,550,735	)		(21,643,600	)
Property operating expenses - affiliates		2,018,569			1,984,186			1,943,352
General and administrative		2,240,127			2,441,031			1,718,876
Depreciation		5,359,748			5,671,415			5,584,240
Interest expense		5,297,133			5,368,710			5,439,744
Interest expense – debt issuance costs		142,102			142,105			142,103
Loss on extinguishment of debt (1)		—			—			1,985,602
Gain on sale of real estate, net (2)		—			—			(12,101,937	)
Other (income) loss		(50,236	)		(147,631	)		(606,608	)
Net (loss) income from continuing operations	$	(5,651,553	)	$	(6,418,286	)	$	4,307,008

(1)Relates to yield maintenance fees and the write-off of unamortized debt issuance costs related to the Tallahassee Nationwide mortgage loan, paid off in connection with the sale of the Tallahassee property on January 6, 2022.

(2)Relates to the net gain on the sale of the Tallahassee property, which was sold on January 6, 2022.