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2. Investment Properties

12 Months Ended

Dec. 31, 2012

Property, Plant and Equipment Disclosure [Text Block]

2. INVESTMENT PROPERTIES

The components of the Company’s investment properties and the related accumulated depreciation information follow:

		December 31, 2012
						Accumulated
		Cost				Depreciation				Net
Restaurant, marina & retail mall:
Monty’s restaurant and retail mall (Coconut Grove, FL) - building & improvements (1)		$	7,336,068			$	1,748,967			$	5,587,101
Monty’s restaurant and retail mall (Coconut Grove, FL) - furniture, fixtures and equipment (1)			2,058,316				1,556,302				502,014
Monty’s marina - 132 slips and improvements (1)			3,578,940				1,845,636				1,733,304
			12,973,324				5,150,905				7,822,419
Office building and other commercial property:
Corporate Office - (Coconut Grove, FL) – Building			652,198				262,826				398,372
Corporate Office – (Coconut Grove, FL) – Land			325,000				—				325,000
Other (Montpelier, Vermont) – Buildings			52,000				52,000				—
Other (Montpelier, Vermont) - Land and improvements (5.4 acres)			111,689				—				111,689
			1,140,887				314,826				826,061
Totals		$	14,114,211			$	5,465,731			$	8,648,480

(1) The Monty’s property is subject to a ground lease with the City of Miami, Florida expiring in 2035. Lease payments due under the lease consist of percentage rent ranging from 8% to 15% of gross revenues from various components of the property.

		December 31, 2011
						Accumulated
		Cost				Depreciation				Net
Restaurant, marina & retail mall:
Monty’s restaurant and retail mall (Coconut Grove, FL) - building & improvements		$	7,052,051			$	1,476,559			$	5,575,492
Monty’s restaurant and retail mall (Coconut Grove, FL) - furniture, fixtures and equipment			1,991,381				1,427,889				563,492
Monty’s retail mail – construction in progress			75,804				—				75,804
Monty’s marina - 132 slips and improvements			3,500,962				1,611,370				1,889,592
			12,620,198				4,515,818				8,104,380
Office building and other commercial property:
Corporate Office - (Coconut Grove, FL) – Building			652,197				246,669				405,528
Corporate Office – (Coconut Grove, FL) – Land			325,000				—				325,000
Other (Montpelier, Vermont) – Buildings			52,000				52,000				—
Other (Montpelier, Vermont) - Land and improvements (5.4 acres)			111,689				—				111,689
Hopkinton, Rhode Island			27,689				—				27,689
			1,168,575				298,669				869,906
Totals		$	13,788,773			$	4,814,487			$	8,974,286

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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