Intangible Lease Asset/Liability

12 Months Ended

Dec. 31, 2022

Intangible Lease Asset Liability [Abstract]

Intangible Lease Asset/Liability

Note 9. Intangible Lease Asset/Liability

Unamortized intangible lease liabilities that relate to below-market leases amounted to $3.1 million and $5.4 million at December 31, 2022 and December 31, 2021, respectively. Unamortized intangible lease assets that relate to above-market leases amounted to $0.1 million and $0.1 million at December 31, 2022 and December 31, 2021, respectively.

The unamortized balance of intangible lease liabilities at December 31, 2022 is net of accumulated amortization of $42.9 million, and will be credited to future operations as follows:

2023	$	416,000
2024		250,000
2025		236,000
2026		236,000
2027		236,000
Thereafter		1,704,000
	$	3,078,000