| Schedule of Segment Revenue |
The following tables provide information about the Company's segment revenues, significant segment expenses, NOI and a reconciliation of NOI to the Company’s consolidated operating income: | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | 2025 | | 2024 | | 2025 | | 2024 | | Revenues | $ | 7,455,000 | | | $ | 8,611,000 | | | $ | 14,870,000 | | | $ | 17,376,000 | | | Operating expenses: | | | | | | | | | Real estate and other property-related taxes | 1,108,000 | | | 1,429,000 | | | 2,248,000 | | | 2,816,000 | | | Insurance | 225,000 | | | 260,000 | | | 452,000 | | | 516,000 | | | Property operating expenses | 1,194,000 | | | 1,562,000 | | | 2,886,000 | | | 3,680,000 | | | Total | 2,527,000 | | | 3,251,000 | | | 5,586,000 | | | 7,012,000 | | | Net operating income | $ | 4,928,000 | | | $ | 5,360,000 | | | $ | 9,284,000 | | | $ | 10,364,000 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | 2025 | | 2024 | | 2025 | | 2024 | | Net operating income | $ | 4,928,000 | | | $ | 5,360,000 | | | $ | 9,284,000 | | | $ | 10,364,000 | | | Add (deduct): | | | | | | | | | Corporate general and administrative | (833,000) | | | (652,000) | | | (1,486,000) | | | (1,264,000) | | | Depreciation and amortization | (1,990,000) | | | (2,323,000) | | | (3,966,000) | | | (4,215,000) | | | (Loss) gain on sales | — | | | (55,000) | | | 2,422,000 | | | (55,000) | | | | | | | | | | | | | | | | | | | Operating income | $ | 2,105,000 | | | $ | 2,330,000 | | | $ | 6,254,000 | | | $ | 4,830,000 | |
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