v3.26.1
SEGMENTS (Tables)
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Segment Reporting [Abstract]    
SCHEDULE OF SEGMENT REPORTING INFORMATION BY SEGMENT

The following tables compare the Company’s segment activity to its results of operations and financial position as of and for the three months ended March 31, 2026, and March 31, 2025:

 

   Retail   Office/Industrial   Model Homes   Corporate and Other   Total 
  

For the Three Months Ended March 31, 2026

 
   Retail   Office/Industrial   Model Homes   Corporate and Other   Total 
Revenues:                         
Rental income  $93,574   $2,670,580   $919,890   $—   $3,684,044 
Fees and other income   —    82,800    5,534    422    88,756 
Total revenue   93,574    2,753,380    925,424    422    3,772,800 
Costs and expenses:                         
Rental operating costs   4,832    1,630,837    48,877    (140,105)   1,544,441 
General and administrative   —    17,499    226,882    1,429,442    1,673,823 
Depreciation and amortization   22,928    784,276    191,292    473    998,969 
Impairment of goodwill and real estate assets   —    448,734    75,639    —    524,373 
Total costs and expenses   27,760    2,881,346    542,690    1,289,810    4,741,606 
Other income (expense):                         
Interest expense - mortgage notes   (43,117)   (1,543,083)   (462,558)   (1,316)   (2,050,074)
Interest and other income, net   —    —    9    5,140    5,149 
Net loss in Conduit Pharmaceuticals marketable securities (see footnote 9)   —    —    —    1,985    1,985 
Gain on sales of real estate, net   —    —    172,096    —    172,096 
Gain on disposition of assets and liabilities, net   —    3,416,501    —    —    3,416,501 
Income tax (expense) benefit   —    —    (15,657)   (2,400)   (18,057)
Total other income (expense), net   (43,117)   1,873,418    (306,110)   3,409    1,527,600 
Net income (loss)   22,697    1,745,452    76,624    (1,285,979)   558,794 
Less: Income attributable to noncontrolling interests   —    2,053    (119,938)   —    (117,885)
Net income (loss) attributable to Presidio Property Trust, Inc. stockholders  $22,697   $1,747,505   $(43,314)  $(1,285,979)  $440,909 

 

   Retail   Office/Industrial   Model Homes   Corporate and Other   Total 
   For the Three Months Ended March 31, 2025 
   Retail   Office/Industrial   Model Homes   Corporate and Other   Total 
Revenues:                         
Rental income  $262,878   $2,854,030   $915,521   $-   $4,032,429 
Fees and other income   400    62,362    (1,754)   31,747    92,755 
Total revenue   263,278    2,916,392    913,767    31,747    4,125,184 
Costs and expenses:                         
Rental operating costs   100,568    1,618,365    48,157    (154,448)   1,612,642 
General and administrative   —    16,850    229,961    1,415,167    1,661,978 
Depreciation and amortization   31,689    999,169    212,012    1,234    1,244,104 
Impairment of goodwill and real estate assets   —    —    26,943    —    26,943 
Total costs and expenses   132,257    2,634,384    517,073    1,261,953    4,545,667 
Other income (expense):                         
Interest expense - mortgage notes   (158,097)   (891,330)   (459,710)   (1,333)   (1,510,470)
Interest and other income, net   —    —    8    5,141    5,149 
Net gain in Conduit Pharmaceuticals marketable securities (see footnote 9)   —    —    —    (176,658)   (176,658)
Gain on sales of real estate, net   4,213,068    —    240,900    —    4,453,968 
Income tax (expense) benefit   —    —    (22,171)   47,580    25,409 
Total other income (expense), net   4,054,971    (891,330)   (240,973)   (125,270)   2,797,398 
Net income (loss)   4,185,992    (609,322)   155,721    (1,355,476)   2,376,915 
Less: Income attributable to noncontrolling interests   —    (17,959)   (93,604)   —    (111,563)
Net income (loss) attributable to Presidio Property Trust, Inc. stockholders  $4,185,992   $(627,281)  $62,117   $(1,355,476)  $2,265,352 

 

    Retail     Office/Industrial     Model Homes     Corporate and Other     Total  
    For the Year Ended December 31, 2025  
                                         
    Retail     Office/Industrial     Model Homes     Corporate and Other     Total  
Revenues:                                        
Rental income   $ 543,600     $ 11,975,156     $ 3,952,162     $ —     $ 16,470,918  
Fees and other income     400       257,414       5,776       80,200       343,790  
Total revenue     544,000       12,232,570       3,957,938       80,200       16,814,708  
Costs and expenses:                                        
Rental operating costs     115,047       6,423,862       212,817       (593,674 )     6,158,052  
General and administrative     —       19,195       813,705       4,871,930       5,704,830  
Depreciation and amortization     100,472       3,910,547       846,818       4,430       4,862,267  
Impairment of goodwill and real estate assets     —       6,031,828       339,609       72,000       6,443,437  
Total costs and expenses     215,519       16,385,432       2,212,949       4,354,686       23,168,586  
Other income (expense):                                        
Interest expense - mortgage notes     (276,961 )     (3,757,328 )     (2,010,791 )     (5,357 )     (6,050,437 )
Interest and other income, net     —       —       (13,735 )     34,616       20,881  
Net loss in Conduit Pharmaceuticals marketable securities (see footnote 9)     —       —       —       (188,287 )     (188,287 )
Gain on sales of real estate, net     4,494,358       —       950,434       —       5,444,792  
Income tax (expense) benefit     —       (9,600 )     (60,875 )     (392,695 )     (463,170 )
Total other income, net     4,217,397       (3,766,928 )     (1,134,967 )     (551,723 )     (1,236,221 )
Net income (loss)     4,545,878       (7,919,790 )     610,022       (4,826,209 )     (7,590,099 )
Less: Income attributable to noncontrolling interests     —       (47,710 )     (637,876 )     —       (685,586 )
Net income (loss) attributable to Presidio Property Trust, Inc. stockholders   $ 4,545,878     $ (7,967,500 )   $ (27,854 )   $ (4,826,209 )   $ (8,275,685 )

 

    Retail     Office/Industrial     Model Homes     Corporate and Other     Total  
    For the Year Ended December 31, 2024  
                                         
    Retail     Office/Industrial     Model Homes     Corporate and Other     Total  
Revenues:                                        
Rental income   $ 2,058,622     $ 12,097,022     $ 4,368,169     $ —     $ 18,523,813  
Fees and other income     62,041       241,530       68,084       29,807       401,462  
Total revenue     2,120,663       12,338,552       4,436,253       29,807       18,925,275  
Costs and expenses:                                        
Rental operating costs     608,667       6,136,564       171,621       (660,775 )     6,256,077  
General and administrative     —       2,330       820,217       6,704,128       7,526,675  
Depreciation and amortization     394,461       4,154,769       952,627       13,661       5,515,518  
Impairment of goodwill and real estate assets     —       1,377,937       406,374       185,000       1,969,311  
Total costs and expenses     1,003,128       11,671,600       2,350,839       6,242,014       21,267,581  
Other income (expense):                                        
Interest expense - mortgage notes     (577,761 )     (3,457,360 )     (2,009,641 )     (5,434 )     (6,050,196 )
Interest and other income, net     —       (171,734 )     (23,890 )     44,268       (151,356 )
Net gain in Conduit Pharmaceuticals marketable securities (see footnote 9)     —       —       —       (17,925,723 )     (17,925,723 )
Gain on sales of real estate, net     —       —       3,426,572       —       3,426,572  
Income tax (expense) benefit     —       —       (55,543 )     (5,312 )     (60,855 )
Total other income, net     (577,761 )     (3,629,094 )     1,337,498       (17,892,201 )     (20,761,558 )
Net income (loss)     539,774       (2,962,142 )     3,422,912       (24,104,408 )     (23,103,864 )
Less: Income attributable to noncontrolling interests     —       (86,686 )     (2,437,979 )     —       (2,524,665 )
Net income (loss) attributable to Presidio Property Trust, Inc. stockholders   $ 539,774     $ (3,048,828 )   $ 984,933     $ (24,104,408 )   $ (25,628,529 )
SCHEDULE OF SEGMENT REPORTING INFORMATION NET OPERATING INCOME BY SEGMENT

 

   Retail   Office/Industrial   Model Homes   Corporate and Other   Total 
   For the Three Months Ended March 31, 2026 
   Retail   Office/Industrial   Model Homes   Corporate and Other   Total 
                     
Rental revenue  $93,574   $2,234,494   $919,890   $—   $3,247,958 
Recovery revenue   —    436,086    —    —    436,086 
Other operating revenue   —    82,800    5,534    422    88,756 
Total revenues   93,574    2,753,380    925,424    422    3,772,800 
                          
Rental operating costs   4,832    1,630,837    48,877    (140,105)   1,544,441 
Net Operating Income (NOI)   88,742    1,122,543    876,547    140,527    2,228,359 
                          
Gain on Sale - Model Homes   —    —    172,096    —    172,096 
Impairment of Model Homes   —    —    (75,639)   —    (75,639)
                          
Adjusted NOI  $88,742   $1,122,543   $973,004   $140,527   $2,324,816 

 

   Retail   Office/Industrial   Model Homes   Corporate and Other   Total 
   For the Three Months Ended March 31, 2025 
   Retail   Office/Industrial   Model Homes   Corporate and Other   Total 
                     
Rental revenue  $206,439   $2,467,551   $915,521   $—   $3,589,511 
Recovery revenue   56,439    386,479    —    —    442,918 
Other operating revenue   400    62,362    (1,754)   31,747    92,755 
Total revenues   263,278    2,916,392    913,767    31,747    4,125,184 
                          
Rental operating costs   100,568    1,618,365    48,157    (154,448)   1,612,642 
Net Operating Income (NOI)   162,710    1,298,027    865,610    186,195    2,512,542 
                          
Gain on Sale - Model Home   —    —    240,899    —    240,899 
Impairment of Model Homes   —    —    (26,943)   —    (26,943)
                          
Adjusted NOI  $162,710   $1,298,027   $1,079,566   $186,195   $2,726,498 

The following tables compare the Company’s segment activity to its results of operations and financial position as of and for years ended December 31, 2025, and 2024:

 

    Retail     Office/Industrial     Model Homes     Corporate and Other     Total  
    For the Year Ended December 31, 2025  
                                         
    Retail     Office/Industrial     Model Homes     Corporate and Other     Total  
                                         
Rental revenue   $ 487,161     $ 9,585,303     $ 3,952,162     $ —     $ 14,024,626  
Recovery revenue     56,439       2,389,853       —       —       2,446,292  
Other operating revenue     400       257,414       5,776       80,200       343,790  
Total revenues     544,000       12,232,570       3,957,938       80,200       16,814,708  
                                         
Rental operating costs     115,047       6,423,862       212,817       (593,674 )     6,158,052  
Net Operating Income (NOI)     428,953       5,808,708       3,745,121       673,874       10,656,656  
                                         
Gain on Sale - Model Homes     —       —       950,434       —       950,434  
Impairment of Model Homes     —       —       (339,609 )     —       (339,609 )
                                         
Adjusted NOI   $ 428,953     $ 5,808,708     $ 4,355,946     $ 673,874     $ 11,267,481  

 

    Retail     Office/Industrial     Model Homes     Corporate and Other     Total  
    For the Year Ended December 31, 2024  
                                         
    Retail     Office/Industrial     Model Homes     Corporate and Other     Total  
                                         
Rental revenue   $ 1,595,464     $ 9,778,458     $ 4,368,169     $ —     $ 15,742,091  
Recovery revenue     463,158       2,318,564       —       —       2,781,722  
Other operating revenue     62,041       241,530       68,084       29,807       401,462  
Total revenues     2,120,663       12,338,552       4,436,253       29,807       18,925,275  
                                         
Rental operating costs     608,667       6,136,564       171,621       (660,775 )     6,256,077  
Net Operating Income (NOI)     1,511,996       6,201,988       4,264,632       690,582       12,669,198  
                                         
Gain on Sale - Model Home     —       —       3,426,572       —       3,426,572  
Impairment of Model Homes     —       —       (406,374 )     —       (406,374 )
                                         
Adjusted NOI   $ 1,511,996     $ 6,201,988     $ 7,284,830     $ 690,582     $ 15,689,396  
SCHEDULE OF RECONCILIATION OF ASSET BY SEGMENT

 

   March 31,   December 31, 
Assets by Reportable Segment:  2026   2025 
Office/Industrial Properties:          
Land, buildings and improvements, net (1)  $61,748,416   $67,445,290 
Total assets (2)  $69,016,593   $68,980,087 
Model Home Properties:          
Land, buildings and improvements, net (1)  $34,253,639   $36,688,462 
Total assets (2)  $34,519,643   $37,301,777 
Retail Properties:          
Land, buildings and improvements, net (1)  $4,485,923   $4,508,851 
Total assets (2)  $4,652,651   $4,669,852 
Reconciliation to Total Assets:          
Total assets for reportable segments  $108,188,887   $110,951,716 
Corporate and other assets:          
Cash, cash equivalents and restricted cash   116,685    173,621 
Other assets, net   2,941,203    10,927,537 
Total Assets  $111,246,775   $122,052,874 

 

(1)

Includes lease intangibles.

   

(2)

Includes land, buildings and improvements, cash, cash equivalents, and restricted cash, current receivables, deferred rent receivables and deferred leasing costs and other related intangible assets, all shown on a net basis.

SCHEDULE OF RECONCILIATION OF ASSET BY SEGMENT 

    December 31,     December 31,  
Assets by Reportable Segment:   2025     2024  
Office/Industrial Properties:                
Land, buildings and improvements, net (1)   $ 67,445,290     $ 74,425,180  
Total assets (2)   $ 68,980,087     $ 76,292,662  
Model Home Properties:                
Land, buildings and improvements, net (1)   $ 36,688,462     $ 37,416,000  
Total assets (2)   $ 37,301,777     $ 38,166,964  
Retail Properties:                
Land, buildings and improvements, net (1)   $ 4,508,851     $ 15,743,789  
Total assets (2)   $ 4,669,852     $ 16,673,605  
Reconciliation to Total Assets:                
Total assets for reportable segments   $ 110,951,716     $ 131,133,231  
Corporate and other assets:                
Cash, cash equivalents and restricted cash   $ 173,621       564,922  
Other assets, net   $ 10,927,537       10,871,497  
Total Assets   $ 122,052,874     $ 142,569,650  

 

(1) Includes lease intangibles.
(2) Includes land, buildings and improvements, cash, cash equivalents, and restricted cash, current receivables, deferred rent receivables and deferred leasing costs and other related intangible assets, all shown on a net basis.
SCHEDULE OF SEGMENT RECONCILIATION OF OTHER ITEMS FROM SEGMENT TO CONSOLIDATED

   For the Three Months Ended March 31, 
Capital Expenditures by Reportable Segment  2026   2025 
Office/Industrial Properties:          
Capital expenditures and tenant improvements, office  $66,807   $360,708 
Model Home Properties:          
Acquisition of operating properties, model home   —    4,270,192 
Retail Properties:          
Acquisition of operating properties   —    — 
Capital expenditures and tenant improvements, retail   —    — 
Totals:          
Acquisition of operating properties, net   —    4,270,192 
Capital expenditures and tenant improvements   66,807    360,708 
Total real estate investments  $66,807   $4,630,900 

 
Capital Expenditures by Reportable Segment   2025     2024  
    For the Year Ended December 31,  
Capital Expenditures by Reportable Segment   2025     2024  
Office/Industrial Properties:                
Capital expenditures and tenant improvements, office   $ 2,513,488     $ 2,044,704  
Model Home Properties:                
Acquisition of operating properties, model home     9,444,465       9,729,351  
Retail Properties:                
Capital expenditures and tenant improvements, retail     —       217,121  
Totals:                
Acquisition of operating properties, net     9,444,465       9,729,351  
Capital expenditures and tenant improvements     2,513,488       2,261,825  
Total real estate investments   $ 11,957,953     $ 11,991,176