AEI Income & Growth Fund XXII LTD Partnership 10-Q 12 Nov 20 2020 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information	9 Months Ended
	Sep. 30, 2020shares
Document Information Line Items
Entity Registrant Name	AEI Income & Growth Fund XXII LTD Partnership
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding	12,692
Amendment Flag	false
Entity Central Index Key	0001023458
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
City Area Code	651
Document Quarterly Report	true
Document Transition Report	false
Entity Address, Address Line One	30 East 7th Street, Suite 1300
Entity Address, City or Town	St. Paul
Entity Address, Country	US
Entity Address, Postal Zip Code	55101
Entity File Number	000-24003
Entity Incorporation, State or Country Code	MN
Entity Interactive Data Current	Yes
Entity Tax Identification Number	41-1848181
Local Phone Number	227-7333
No Trading Symbol Flag	true
Security Exchange Name	NONE
Title of 12(g) Security	Limited Partnership Units

Balance Sheet

Balance Sheet - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Current Assets:
Cash	$ 1,841,068	$ 3,725,349
Real Estate Investments:
Land	1,865,579	1,622,456
Buildings	5,535,336	4,115,876
Acquired Intangible Lease Assets	1,181,359	932,882
Real Estate Held for Investment, at cost	8,582,274	6,671,214
Accumulated Depreciation and Amortization	(2,221,073)	(2,281,861)
Real Estate Held for Investment, Net	6,361,201	4,389,353
Total Assets	8,202,269	8,114,702
Current Liabilities:
Payable to AEI Fund Management, Inc.	18,462	9,285
Distributions Payable	109,280	136,599
Unearned Rent	13,492	0
Total Current Liabilities	141,234	145,884
Partners’ Capital:
General Partners	11,153	14,876
Limited Partners – 24,000 Units authorized; 12,692 Units issued and outstanding as of 9/30/2020 and 12/31/2019	8,049,882	7,953,942
Total Partners' Capital	8,061,035	7,968,818
Total Liabilities and Partners' Capital	$ 8,202,269	$ 8,114,702

Balance Sheet (Parentheticals)

Balance Sheet (Parentheticals) - Limited Partner [Member] - shares	Sep. 30, 2020	Dec. 31, 2019
Limited Partners, units authorized	24,000	24,000
Limited Partners, units issued	12,692	12,692
Limited Partners, units outstanding	12,692	12,692

Statement of Income

Statement of Income - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Rental Income	$ 142,933	$ 124,487	$ 376,977	$ 444,519
Expenses:
Partnership Administration – Affiliates	29,113	27,698	76,435	80,748
Partnership Administration and Property Management – Unrelated Parties	8,668	4,922	35,455	37,691
Depreciation and Amortization	59,873	51,982	158,417	179,252
Total Expenses	97,654	84,602	270,307	297,691
Operating Income	45,279	39,885	106,670	146,828
Other Income:
Gain on Sale of Real Estate	324,442	885,582	324,442	1,540,914
Interest Income	610	12,490	8,528	23,198
Total Other Income	325,052	898,072	332,970	1,564,112
Net Income	370,331	937,957	439,640	1,710,940
Net Income Allocated:
General Partners	4,621	12,172	6,700	68,381
Limited Partners	$ 365,710	$ 925,785	$ 432,940	$ 1,642,559
Net Income per Limited Partnership Unit (in Dollars per share)	$ 28.81	$ 71.41	$ 34.11	$ 125.09
Weighted Average Units Outstanding – Basic and Diluted (in Shares)	12,692	12,965	12,692	13,131

Statement of Cash Flows

Statement of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash Flows from Operating Activities:
Net Income	$ 439,640	$ 1,710,940
Adjustments to Reconcile Net Income To Net Cash Provided by Operating Activities:
Depreciation and Amortization	196,430	216,566
Gain on Sale of Real Estate	(324,442)	(1,540,914)
Increase (Decrease) in Payable to AEI Fund Management, Inc.	9,177	(31,604)
Increase (Decrease) in Unearned Rent	13,492	2,111
Total Adjustments	(105,343)	(1,353,841)
Net Cash Provided By (Used For) Operating Activities	334,297	357,099
Cash Flows from Investing Activities:
Investments in Real Estate	(2,778,060)	(30,000)
Proceeds from Sale of Real Estate	934,224	3,602,430
Net Cash Provided By (Used For) Investing Activities	(1,843,836)	3,572,430
Cash Flows from Financing Activities:
Distributions Paid to Partners	(374,742)	(427,423)
Repurchase of Partnership Units	0	(375,681)
Net Cash Provided By (Used For) Financing Activities	(374,742)	(803,104)
Net Increase (Decrease) in Cash	(1,884,281)	3,126,425
Cash, beginning of period	3,725,349	850,519
Cash, end of period	$ 1,841,068	$ 3,976,944

Statement of Changes in Partner

Statement of Changes in Partners' Capital - USD ($)	General Partner [Member]	Limited Partner [Member]	Total
Balance at Dec. 31, 2018	$ (37,817)	$ 7,394,501	$ 7,356,684
Balance (in Shares) at Dec. 31, 2018		13,462.92
Balance at Mar. 31, 2019	(40,196)	$ 7,317,572	7,277,376
Balance (in Shares) at Mar. 31, 2019		13,462.92
Distributions Declared	(4,274)	$ (138,200)	(142,474)
Net Income	1,895	61,271	63,166
Balance at Dec. 31, 2018	(37,817)	$ 7,394,501	7,356,684
Balance (in Shares) at Dec. 31, 2018		13,462.92
Balance at Sep. 30, 2019	14,925	$ 8,254,035	8,268,960
Balance (in Shares) at Sep. 30, 2019		12,965.03
Distributions Declared	(11,881)	$ (411,102)	(422,983)
Units Repurchased	(3,757)	$ (371,924)
Units Repurchased (in Shares)		(497.89)
Net Income			1,710,940
Balance at Mar. 31, 2019	(40,196)	$ 7,317,572	7,277,376
Balance (in Shares) at Mar. 31, 2019		13,462.92
Balance at Jun. 30, 2019	6,087	$ 7,462,950	7,469,037
Balance (in Shares) at Jun. 30, 2019		12,965.03
Distributions Declared	(4,274)	$ (138,201)	(142,475)
Units Repurchased	(3,757)	$ (371,924)	(375,681)
Units Repurchased (in Shares)		(497.89)
Net Income	54,314	$ 655,503	709,817
Balance at Sep. 30, 2019	14,925	$ 8,254,035	8,268,960
Balance (in Shares) at Sep. 30, 2019		12,965.03
Distributions Declared	(3,334)	$ (134,700)	(138,034)
Net Income	12,172	925,785	937,957
Balance at Dec. 31, 2019	14,876	$ 7,953,942	7,968,818
Balance (in Shares) at Dec. 31, 2019		12,692
Balance at Mar. 31, 2020	11,583	$ 7,847,483	7,859,066
Balance (in Shares) at Mar. 31, 2020		12,691.78
Distributions Declared	(4,098)	$ (132,501)	(136,599)
Net Income	805	26,042	26,847
Balance at Dec. 31, 2019	14,876	$ 7,953,942	7,968,818
Balance (in Shares) at Dec. 31, 2019		12,692
Balance at Sep. 30, 2020	11,153	$ 8,049,882	8,061,035
Balance (in Shares) at Sep. 30, 2020		12,692
Distributions Declared	(10,423)	$ (337,000)	(347,423)
Net Income			439,640
Balance at Mar. 31, 2020	11,583	$ 7,847,483	7,859,066
Balance (in Shares) at Mar. 31, 2020		12,691.78
Balance at Jun. 30, 2020	9,811	$ 7,790,173	7,799,984
Balance (in Shares) at Jun. 30, 2020		12,691.78
Distributions Declared	(3,046)	$ (98,498)	(101,544)
Net Income	1,274	41,188	42,462
Balance at Sep. 30, 2020	11,153	$ 8,049,882	8,061,035
Balance (in Shares) at Sep. 30, 2020		12,692
Distributions Declared	(3,279)	$ (106,001)	(109,280)
Net Income	$ 4,621	$ 365,710	$ 370,331

Basis of Accounting

Basis of Accounting	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Accounting [Text Block]	(1) The condensed statements included herein have been prepared by the registrant, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission, and reflect all adjustments which are, in the opinion of management, necessary to a fair statement of the results of operations for the interim period, on a basis consistent with the annual audited statements. The adjustments made to these condensed statements consist only of normal recurring adjustments. Certain information, accounting policies, and footnote disclosures normally included in financial statements prepared in accordance with United States Generally Accepted Accounting Principles (US GAAP) have been condensed or omitted pursuant to such rules and regulations, although the registrant believes that the disclosures are adequate to make the information presented not misleading. It is suggested that these condensed financial statements be read in conjunction with the financial statements and the summary of significant accounting policies and notes thereto included in the registrant’s latest annual report on Form 10K.

Organization

Organization	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	(2) Organization – AEI Income & Growth Fund XXII Limited Partnership (“Partnership”) was formed to acquire and lease commercial properties to operating tenants. The Partnership's operations are managed by AEI Fund Management XXI, Inc. (“AFM”), the Managing General Partner. Robert P. Johnson, the Chief Executive Officer and sole director of AFM, serves as the Individual General Partner. AFM is a wholly owned subsidiary of AEI Capital Corporation of which Mr. Johnson and his wife own a majority interest. AEI Fund Management, Inc. (“AEI”), an affiliate of AFM, performs the administrative and operating functions for the Partnership. The terms of the Partnership offering called for a subscription price of $1,000 per Limited Partnership Unit, payable on acceptance of the offer. The Partnership commenced operations on May 1, 1997 when minimum subscriptions of 1,500 Limited Partnership Units ($1,500,000) were accepted. The offering terminated January 9, 1999 when the extended offering period ended. The Partnership received subscriptions for 16,917.222 Limited Partnership Units. Under the terms of the Limited Partnership Agreement, the Limited Partners and General Partners contributed funds of $16,917,222 and $1,000, respectively. During operations, any Net Cash Flow, as defined, which the General Partners determine to distribute will be distributed 97% to the Limited Partners and 3% to the General Partners. Distributions to Limited Partners will be made pro rata by Units. Any Net Proceeds of Sale, as defined, from the sale or financing of properties which the General Partners determine to distribute will, after provisions for debts and reserves, be paid in the following manner: (i) first, 99% to the Limited Partners and 1% to the General Partners until the Limited Partners receive an amount equal to: (a) their Adjusted Capital Contribution plus (b) an amount equal to 9% of their Adjusted Capital Contribution per annum, cumulative but not compounded, to the extent not previously distributed from Net Cash Flow; (ii) any remaining balance will be distributed 90% to the Limited Partners and 10% to the General Partners. Distributions to the Limited Partners will be made pro rata by Units. For tax purposes, profits from operations, other than profits attributable to the sale, exchange, financing, refinancing or other disposition of property, will be allocated first in the same ratio in which, and to the extent, Net Cash Flow is distributed to the Partners for such year. Any additional profits will be allocated in the same ratio as the last dollar of Net Cash Flow is distributed. Net losses from operations will be allocated 99% to the Limited Partners and 1% to the General Partners. For tax purposes, profits arising from the sale, financing, or other disposition of property will be allocated in accordance with the Partnership Agreement as follows: (i) first, to those partners with deficit balances in their capital accounts in an amount equal to the sum of such deficit balances; (ii) second, 99% to the Limited Partners and 1% to the General Partners until the aggregate balance in the Limited Partners' capital accounts equals the sum of the Limited Partners' Adjusted Capital Contributions plus an amount equal to 9% of their Adjusted Capital Contributions per annum, cumulative but not compounded, to the extent not previously allocated; (iii) third, the balance of any remaining gain will then be allocated 90% to the Limited Partners and 10% to the General Partners. Losses will be allocated 98% to the Limited Partners and 2% to the General Partners. The General Partners are not required to currently fund a deficit capital balance. Upon liquidation of the Partnership or withdrawal by a General Partner, the General Partners will contribute to the Partnership an amount equal to the lesser of the deficit balances in their capital accounts or 1% of total Limited Partners' and General Partners' capital contributions. In May 2015, the Managing General Partner mailed a Consent Statement (Proxy) seeking the consent of the Limited Partners to continue the Partnership for an additional 60 months or to initiate the final disposition, liquidation and distribution of all of the Partnership’s properties and assets. Approval of either proposal required the affirmative vote of holders of a majority of the outstanding units. On June 17, 2015, the votes were counted and neither proposal received the required majority vote. As a result, the Partnership will not liquidate and will continue in operation until the Limited Partners vote to authorize the sale of all of the Partnership's properties or December 31, 2046, as stated in the Limited Partnership Agreement. However, in approximately five years, the Managing General Partner expects to again submit the question to liquidate to a vote by the Limited Partners.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	(3) Recently Issued Accounting Pronouncements – Management has reviewed recently issued, but not yet effective, accounting pronouncements and does not expect the implementation of these pronouncements to have a significant effect on the Partnership’s financial statements.

Real Estate Investments

Real Estate Investments	9 Months Ended
	Sep. 30, 2020
Real Estate [Abstract]
Real Estate Disclosure [Text Block]	(4) Real Estate Investments – In July 2018, the Partnership entered into an agreement with the tenant of the Best Buy store in Lake Geneva, Wisconsin to extend the lease term five years to end on March 31, 2024. As part of the agreement, the annual rent decreased from $149,302 to $129,395 effective February 1, 2019. In addition, beginning on February 1, 2019, the tenant received free rent for one month that equaled $10,783. In December 2018, the Partnership decided to sell the Applebee’s restaurant in Crawfordsville, Indiana. In January 2019, the Partnership entered into an agreement to sell the property to an unrelated third party. On April 8, 2019, the sale closed with the Partnership receiving net proceeds of $1,863,691, which resulted in a net gain of $655,332. At the time of sale, the cost and related accumulated depreciation was $1,856,656 and $648,297, respectively. In June 2019, the Partnership entered into an agreement with the tenant of the Tractor Supply Company store in Grand Forks, North Dakota to extend the lease term ten years to end on November 30, 2030. The annual rent remained the same with a 4.0% increase scheduled to occur after five years. As part of the agreement, the Partnership paid a tenant improvement allowance of $30,000 that was capitalized. In June 2019, the Partnership reached an agreement to sell its 50% interest in the Tractor Supply Company store to an unrelated third party. On August 1, 2019, the sale closed with the Partnership receiving net proceeds of $1,738,739, which resulted in a net gain of $885,582. At the time of sale, the cost and related accumulated depreciation was $1,433,874 and $580,717, respectively. In April 2020, the Partnership entered into an agreement with the tenant of the PetSmart store in Galveston, Texas to extend the lease term ten years to end on April 30, 2032. As part of the agreement, the Partnership paid a tenant improvement allowance of $42,500 that was capitalized. In May 2020, the Partnership reached an agreement to sell its 34% interest in the PetSmart store to an unrelated third party. On July 28, 2020, the sale closed with the Partnership receiving net proceeds of $934,224, which resulted in a net gain of $324,442. At the time of sale, the cost and related accumulated depreciation and amortization was $867,000 and $257,218, respectively. On July 31, 2020, the Partnership purchased a 50% interest in a Talecris plasma facility in Dallas, Texas for $2,735,560. The Partnership allocated $452,929 of the purchase price to Acquired Intangible Lease Assets, representing in-place lease intangibles of $284,438 and above-market lease intangibles of $168,491. The property is leased to Talecris Plasma Resources, Inc. under a lease agreement with a remaining primary term of 8.1 years (as of the date of purchase) and annual rent of $182,035. The remaining interest in this property was purchased by AEI Income & Growth Fund 25 LLC, an affiliate of the Partnership. The Partnership owns a 28% interest in a Staples store in Clermont, Florida. The remaining interests in the property are owned by affiliates of the Partnership. On July 17, 2020, the lease term ended, and the tenant returned possession of the property to the owners. While the property is vacant, the Partnership is responsible for its 28% share of real estate taxes and other costs associated with maintaining the property. The owners have listed the property for sale or lease with a real estate broker in the Clermont area. The annual rent from this property represented approximately 15% of the total annual rent of the Partnership’s property portfolio. The loss of rent and increased expenses related to this property will decrease the Partnership’s cash flow. However, at this time, the Partnership does not anticipate the need to further reduce its regular quarterly cash distribution rate.

Payable to AEI Fund Management,

Payable to AEI Fund Management, Inc.	9 Months Ended
	Sep. 30, 2020
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	(5) Payable to AEI Fund Management, Inc. – AEI Fund Management, Inc. performs the administrative and operating functions for the Partnership. The payable to AEI Fund Management represents the balance due for those services. This balance is non-interest bearing and unsecured and is to be paid in the normal course of business.

Partners' Capital

Partners' Capital	9 Months Ended
	Sep. 30, 2020
Partners' Capital Notes [Abstract]
Partners' Capital Notes Disclosure [Text Block]	(6) Partners’ Capital – For the nine months ended September 30, 2020 and 2019, the Partnership declared distributions of $347,423 and $422,983, respectively. The Limited Partners received distributions of $337,000 and $411,102 and the General Partners received distributions of $10,423 and $11,881 for the periods, respectively. The Limited Partners' distributions represented $26.55 and $31.31 per Limited Partnership Unit outstanding using 12,692 and 13,131 weighted average Units in 2020 and 2019, respectively. The distributions represented $26.55 and $31.31 per Unit of Net Income and $0.00 and $0.00 per Unit of return of capital in 2020 and 2019, respectively. As part of the distributions discussed above, the Partnership distributed net sale proceeds of $40,404 in 2019. The Limited Partners received distributions of $40,000 and the General Partners received distributions of $404. The Limited Partners’ distributions represented $3.09 per Unit. For the nine months ended September 30, 2020, the Partnership did not repurchase any Units from the Limited Partners. For the nine months ended September 30, 2019, the Partnership repurchased a total of 497.89 Units for $371,924 from 16 Limited Partners in accordance with the Partnership Agreement. The Partnership acquired these Units using net sales proceeds. The repurchases increase the remaining Limited Partners' ownership interest in the Partnership. As a result of these repurchases and pursuant to the Partnership Agreement, the General Partners received distributions of $3,757 in 2019.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	(7) Fair Value Measurements – As of September 30, 2020 and December 31, 2019, the Partnership had no assets or liabilities measured at fair value on a recurring basis or nonrecurring basis.

Coronavirus Outbreak -

Coronavirus Outbreak -	9 Months Ended
	Sep. 30, 2020
Coronavirus Outbreak Policy [Abstract]
CoronavirusOutbreakPolicyTextBlock	(8) Coronavirus Outbreak – During the first quarter of 2020, there was a global outbreak of a new strain of coronavirus, COVID-19 which continues to adversely impact global commercial activity and has contributed to significant volatility in financial markets. The global impact of the outbreak has been rapidly evolving, and as cases of the virus have continued to be identified in additional countries, many countries have reacted by instituting quarantines, placing restrictions on travel, and limiting hours of operations of non-essential offices and retail centers. Such actions are creating disruption in global supply chains, and adversely impacting a number of industries, such as retail, restaurants and transportation. The outbreak could have a continued adverse impact on economic and market conditions and trigger a period of global economic slowdown. The rapid development and fluidity of this situation precludes any prediction as to the ultimate adverse impact of the coronavirus. Nevertheless, the coronavirus presents material uncertainty and risk with respect to the Partnership’s performance and financial results, such as the potential negative impact to the tenants of its properties, the potential closure of certain of its properties, increased costs of operations, decrease in values of its properties, changes in law and/or regulation, and uncertainty regarding government and regulatory policy. Up to the date of this filing, the Partnership has not received modification rent requests from any tenant of the five properties owned by the Partnership. All rent has been paid in full by each tenant.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Distribution Policy, Members or Limited Partners, Description	During operations, any Net Cash Flow, as defined, which the General Partners determine to distribute will be distributed 97% to the Limited Partners and 3% to the General Partners. Distributions to Limited Partners will be made pro rata by Units. Any Net Proceeds of Sale, as defined, from the sale or financing of properties which the General Partners determine to distribute will, after provisions for debts and reserves, be paid in the following manner: (i) first, 99% to the Limited Partners and 1% to the General Partners until the Limited Partners receive an amount equal to: (a) their Adjusted Capital Contribution plus (b) an amount equal to 9% of their Adjusted Capital Contribution per annum, cumulative but not compounded, to the extent not previously distributed from Net Cash Flow; (ii) any remaining balance will be distributed 90% to the Limited Partners and 10% to the General Partners. Distributions to the Limited Partners will be made pro rata by Units.
Key Provisions of Operating or Partnership Agreement, Description	For tax purposes, profits from operations, other than profits attributable to the sale, exchange, financing, refinancing or other disposition of property, will be allocated first in the same ratio in which, and to the extent, Net Cash Flow is distributed to the Partners for such year. Any additional profits will be allocated in the same ratio as the last dollar of Net Cash Flow is distributed. Net losses from operations will be allocated 99% to the Limited Partners and 1% to the General Partners. For tax purposes, profits arising from the sale, financing, or other disposition of property will be allocated in accordance with the Partnership Agreement as follows: (i) first, to those partners with deficit balances in their capital accounts in an amount equal to the sum of such deficit balances; (ii) second, 99% to the Limited Partners and 1% to the General Partners until the aggregate balance in the Limited Partners' capital accounts equals the sum of the Limited Partners' Adjusted Capital Contributions plus an amount equal to 9% of their Adjusted Capital Contributions per annum, cumulative but not compounded, to the extent not previously allocated; (iii) third, the balance of any remaining gain will then be allocated 90% to the Limited Partners and 10% to the General Partners. Losses will be allocated 98% to the Limited Partners and 2% to the General Partners. The General Partners are not required to currently fund a deficit capital balance. Upon liquidation of the Partnership or withdrawal by a General Partner, the General Partners will contribute to the Partnership an amount equal to the lesser of the deficit balances in their capital accounts or 1% of total Limited Partners' and General Partners' capital contributions
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	Management has reviewed recently issued, but not yet effective, accounting pronouncements and does not expect the implementation of these pronouncements to have a significant effect on the Partnership’s financial statements.
CoronavirusOutbreakTextBlock	During the first quarter of 2020, there was a global outbreak of a new strain of coronavirus, COVID-19 which continues to adversely impact global commercial activity and has contributed to significant volatility in financial markets. The global impact of the outbreak has been rapidly evolving, and as cases of the virus have continued to be identified in additional countries, many countries have reacted by instituting quarantines, placing restrictions on travel, and limiting hours of operations of non-essential offices and retail centers. Such actions are creating disruption in global supply chains, and adversely impacting a number of industries, such as retail, restaurants and transportation. The outbreak could have a continued adverse impact on economic and market conditions and trigger a period of global economic slowdown. The rapid development and fluidity of this situation precludes any prediction as to the ultimate adverse impact of the coronavirus. Nevertheless, the coronavirus presents material uncertainty and risk with respect to the Partnership’s performance and financial results, such as the potential negative impact to the tenants of its properties, the potential closure of certain of its properties, increased costs of operations, decrease in values of its properties, changes in law and/or regulation, and uncertainty regarding government and regulatory policy. Up to the date of this filing, the Partnership has not received modification rent requests from any tenant of the five properties owned by the Partnership. All rent has been paid in full by each tenant.

Organization (Details)

Organization (Details) - USD ($)	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jan. 09, 1999	May 01, 1997
Limited Partner [Member]
Organization (Details) [Line Items]
Capital Units, Value										$ 1,000
Limited Partners' Capital Account, Units Outstanding (in Shares)	12,692	12,691.78	12,691.78	12,692	12,965.03	12,965.03	13,462.92	13,462.92	16,917.222	1,500
Limited Partners' Contributed Capital									$ 16,917,222	$ 1,500,000
General Partner [Member]
Organization (Details) [Line Items]
General Partners' Contributed Capital									$ 1,000

Real Estate Investments (Detail

Real Estate Investments (Details) - USD ($)

Jul. 31, 2020

Jul. 28, 2020

Apr. 01, 2020

Aug. 01, 2019

Jun. 01, 2019

Apr. 08, 2019

Jul. 01, 2018

Sep. 30, 2020

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2019

Jul. 30, 2021

Jan. 31, 2020

Jan. 31, 2019

Feb. 01, 2019

Real Estate Investments (Details) [Line Items]

Gain (Loss) on Disposition of Assets

$ 324,442

$ 885,582

$ 324,442

$ 1,540,914

Payments to Acquire Real Estate

$ 2,778,060

$ 30,000

Applebees Crawfordsville IN

Real Estate Investments (Details) [Line Items]

Disposal Date

Apr. 8, 2019

Proceeds from Sale of Real Estate

$ 1,863,691

Gain (Loss) on Disposition of Assets

655,332

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Cost of Investment in Real Estate Sold

1,856,656

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation

$ 648,297

Tractor Supply Company Grand Forks ND

Real Estate Investments (Details) [Line Items]

Disposal Date

Aug. 1, 2019

Proceeds from Sale of Real Estate

$ 1,738,739

Gain (Loss) on Disposition of Assets

885,582

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Cost of Investment in Real Estate Sold

1,433,874

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation

$ 580,717

Payments for Tenant Improvements

$ 30,000

Best Buy Lake Geneva WI

Real Estate Investments (Details) [Line Items]

Average Lease Term

In July 2018, the Partnership entered into an agreement with the tenant of the Best Buy store in Lake Geneva, Wisconsin to extend the lease term five years to end on March 31, 2024.

Revenue from Contract with Customer, Excluding Assessed Tax

$ 129,395

$ 149,302

Financing Receivable, Allowance for Credit Loss, Current

$ 10,783

PetSmart Galveston TX

Real Estate Investments (Details) [Line Items]

Average Lease Term

In April 2020, the Partnership entered into an agreement with the tenant of the PetSmart store in Galveston, Texas to extend the lease term ten years to end on April 30, 2032

Disposal Date

Jul. 28, 2020

Proceeds from Sale of Real Estate

$ 934,224

Gain (Loss) on Disposition of Assets

324,442

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Cost of Investment in Real Estate Sold

867,000

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation

$ 257,218

Payments for Tenant Improvements

$ 42,500

Talecris Dallas TX

Real Estate Investments (Details) [Line Items]

Average Lease Term

The property is leased to Talecris Plasma Resources, Inc. under a lease agreement with a remaining primary term of 8.1 years (as of the date of purchase)

Revenue from Contract with Customer, Excluding Assessed Tax

$ 182,035

Business Acquisition, Effective Date of Acquisition

Jul. 31, 2020

Payments to Acquire Real Estate

$ 2,735,560

Finite-lived Intangible Assets Acquired

452,929

Talecris Dallas TX | Leases, Acquired-in-Place [Member]

Real Estate Investments (Details) [Line Items]

Finite-Lived Intangible Asset, Acquired-in-Place Leases

284,438

Talecris Dallas TX | Above Market Leases [Member]

Real Estate Investments (Details) [Line Items]

Finite-Lived Intangible Asset, Off-market Lease, Favorable, Gross

$ 168,491

Partners' Capital (Details)

Partners' Capital (Details) - USD ($)	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Partners' Capital (Details) [Line Items]
Distribution Made to Limited Partner, Cash Distributions Declared	$ 109,280	$ 101,544	$ 136,599	$ 138,034	$ 142,475	$ 142,474	$ 347,423	$ 422,983
SaleProceedsDistributionMadeToMemberOrLimitedPartner								40,404
Partners' Capital Account, Redemptions					375,681
Limited Partner [Member]
Partners' Capital (Details) [Line Items]
Distribution Made to Limited Partner, Cash Distributions Declared	106,001	98,498	132,501	134,700	$ 138,201	138,200	$ 337,000	$ 411,102
Distribution Made to Limited Partner, Distributions Declared, Per Unit (in Dollars per share)							$ 26.55	$ 31.31
Weighted Average Limited Partnership Units Outstanding, Basic (in Shares)							12,692	13,131
DistributionsPerUnitOfNetIncome (in Dollars per share)							$ 26.55	$ 31.31
DistributionsPerUnitOfReturnOfCapital (in Dollars per share)							$ 0	$ 0
SaleProceedsDistributionMadeToMemberOrLimitedPartner								$ 40,000
SaleProceedsDistributionMadeToLimitedPartnerPerUnit (in Dollars per share)								$ 3.09
Partners' Capital Account, Units, Redeemed (in Shares)					497.89			497.89
Partners' Capital Account, Redemptions					$ 371,924			$ 371,924
General Partner [Member]
Partners' Capital (Details) [Line Items]
Distribution Made to Limited Partner, Cash Distributions Declared	$ 3,279	$ 3,046	$ 4,098	$ 3,334	4,274	$ 4,274	$ 10,423	11,881
SaleProceedsDistributionMadeToMemberOrLimitedPartner								404
Partners' Capital Account, Redemptions					$ 3,757			$ 3,757