v3.26.1
Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Assets [Abstract]    
Land $ 13,084,921 $ 16,390,250
Buildings and improvements 80,149,146 101,878,107
Tenant improvements 11,468,013 17,645,103
Lease intangibles 1,400,602 3,467,798
Real estate assets and lease intangibles held for investment, cost 106,102,682 139,381,258
Accumulated depreciation and amortization (26,883,028) (37,536,809)
Real estate assets and lease intangibles held for investment, net 79,219,654 101,844,449
Real estate assets held for sale, net 15,792,645 6,805,255
Real estate assets, net 95,012,299 108,649,704
Other assets:    
Cash, cash equivalents and restricted cash 5,902,592 7,422,359
Deferred leasing costs, net 1,175,189 1,340,853
Goodwill 1,317,000 1,317,000
Investment in Conduit Pharmaceuticals marketable securities (see Notes 2 & 9) 11,628 3,900
Deferred tax asset 223,388 223,388
Other Assets, Miscellaneous 3,016,660 3,095,670
Total other assets 11,646,457 13,403,170
TOTAL ASSETS [1] 106,658,756 122,052,874
Liabilities:    
Mortgage notes payable, net 61,844,459 81,936,586
Mortgage notes payable related to real estate assets held for sale, net 18,297,471 10,137,781
Mortgage notes payable, total net 80,141,930 92,074,367
Accounts payable and accrued liabilities 3,286,757 3,302,187
Accrued real estate taxes 1,777,995 1,785,029
Dividends payable - Series D Preferred Stock 0 190,220
Lease liability, net 27,317 40,108
Below-market leases, net 829 3,316
Total liabilities 85,234,828 97,395,227
Commitments and contingencies (see Note 10)
Equity:    
Additional paid-in capital 187,145,891 186,762,388
Dividends and accumulated losses (173,315,519) (169,945,302)
Total stockholders' equity before noncontrolling interest 13,853,278 16,839,965
Noncontrolling interest 7,570,650 7,817,682
Total equity 21,423,928 24,657,647
TOTAL LIABILITIES AND EQUITY 106,658,756 122,052,874
Series D Preferred Stock [Member]    
Equity:    
Series D Preferred Stock, $0.01 par value per share; 1,000,000 shares authorized; 973,736 shares issued and outstanding (liquidation preference $25.00 per share) as of June 30, 2026 and as of December 31, 2025 9,737 9,737
Common Class A [Member]    
Equity:    
Series A Common Stock, $0.01 par value per share, shares authorized: 100,000,000; 1,316,939 shares and 1,314,159 shares were issued and outstanding as of June 30, 2026 and December 31, 2025, respectively $ 13,169 $ 13,142
[1] As of March 31, 2026 and December 31, 2025, includes approximately $7.4 million and $8.6 million, respectively, of assets related to consolidated variable interest entities that can be used only to settle obligations of the consolidated variable interest entities.