Global Self Storage (SELF) 10-K 31 Mar 21 2020 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Mar. 16, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Trading Symbol	SELF
Entity Registrant Name	GLOBAL SELF STORAGE, INC.
Entity Central Index Key	0001031235
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
ICFR Auditor Attestation Flag	false
Entity Common Stock, Shares Outstanding		9,356,202
Entity Public Float			$ 33,524,029
Entity File Number	001-12681
Entity Tax Identification Number	13-3926714
Entity Address, Address Line One	11 Hanover Square
Entity Address, Address Line Two	12th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10005
City Area Code	212
Local Phone Number	785-0900
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	MD
Document Annual Report	true
Document Transition Report	false
Title of 12(b) Security	Common Stock, $0.01 par value
Security Exchange Name	NASDAQ
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s definitive proxy statement to be issued in connection with the registrant’s annual stockholders’ meeting to be held in 2021 are incorporated by reference into Part III of this Annual Report on Form 10-K.

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Assets
Real estate assets, net	$ 59,768,533	$ 59,752,153
Cash and cash equivalents	1,614,771	3,990,160
Restricted cash	340,672	263,405
Investments in securities	1,916,451	1,761,312
Accounts receivable	106,521	164,078
Prepaid expenses and other assets	351,764	325,450
Line of credit issuance costs, net	152,542	311,869
Intangible assets, net		398,795
Goodwill	694,121	694,121
Total assets	64,945,375	67,661,343
Liabilities and equity
Note payable, net	18,389,176	18,839,787
Line of credit borrowing	5,144,000	4,914,000
Accounts payable and accrued expenses	1,373,308	1,841,640
Total liabilities	24,906,484	25,595,427
Commitments and contingencies
Equity
Preferred stock, $0.01 par value: 50,000,000 shares authorized, no shares outstanding
Common stock, $0.01 par value: 450,000,000 shares authorized, 9,343,118 and 9,330,297 issued and outstanding at December 31, 2020 and 2019, respectively	93,431	93,303
Additional paid in capital	40,455,409	40,329,502
(Accumulated deficit) Retained earnings	(509,949)	1,643,111
Total equity	40,038,891	42,065,916
Total liabilities and equity	$ 64,945,375	$ 67,661,343

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	450,000,000	450,000,000
Common stock, shares issued	9,343,118	9,330,297
Common stock, shares outstanding	9,343,118	9,330,297

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenues
Rental income	$ 8,789,548	$ 8,371,292
Total revenues	9,196,524	8,668,322
Expenses
Property operations	3,586,593	3,577,358
General and administrative	2,388,960	2,126,804
Depreciation and amortization	1,989,761	1,438,908
Business development	10,998	124,428
Total expenses	7,976,312	7,267,498
Operating income	1,220,212	1,400,824
Other income (expense)
Dividend and interest income	79,331	71,666
Unrealized gain on marketable equity securities	155,139	193,705
Interest expense	(1,180,341)	(1,075,576)
Total other income (expense), net	(945,871)	(810,205)
Net income and comprehensive income	$ 274,341	$ 590,619
Earnings per share
Basic	$ 0.03	$ 0.08
Diluted	$ 0.03	$ 0.08
Weighted average shares outstanding
Basic	9,273,554	7,699,966
Diluted	9,282,687	7,702,117
Other property related income
Revenues
Revenues	$ 337,166	$ 283,570
Management fees and other income
Revenues
Revenues	$ 69,810	$ 13,460

CONSOLIDATED STATEMENT OF STOCK

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($)	Total	Common Stock	Paid in Capital	(Accumulated Deficit) Retained Earnings
Beginning Balance at Dec. 31, 2018	$ 37,205,876	$ 76,926	$ 33,961,903	$ 3,167,047
Beginning Balance, shares at Dec. 31, 2018		7,692,624
Restricted stock grants issued		$ 414	(414)
Restricted stock grants issued, Shares		41,343
Restricted stock grant forfeitures		$ (50)	50
Restricted stock grant forfeitures, Shares		(4,961)
Issuance of common stock under rights offering, net of expenses	6,280,987	$ 16,013	6,264,974
Issuance of common stock under rights offering, net of expenses, Shares		1,601,291
Stock-based compensation	102,989		102,989
Net income	590,619			590,619
Dividends	(2,114,555)			(2,114,555)
Ending Balance at Dec. 31, 2019	$ 42,065,916	$ 93,303	40,329,502	1,643,111
Ending Balance, shares at Dec. 31, 2019	9,330,297	9,330,297
Restricted stock grants issued		$ 128	(128)
Restricted stock grants issued, Shares		12,821
Stock-based compensation	$ 126,035		126,035
Net income	274,341			274,341
Dividends	(2,427,401)			(2,427,401)
Ending Balance at Dec. 31, 2020	$ 40,038,891	$ 93,431	$ 40,455,409	$ (509,949)
Ending Balance, shares at Dec. 31, 2020	9,343,118	9,343,118

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities
Net income	$ 274,341	$ 590,619
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	1,989,761	1,438,908
Unrealized gain on marketable equity securities	(155,139)	(193,705)
Amortization of loan procurement costs	199,797	200,819
Stock-based compensation	126,035	102,989
Changes in operating assets and liabilities:
Accounts receivable	57,557	(96,474)
Prepaid expenses and other assets	(26,314)	(37,436)
Accounts payable and accrued expenses	(468,710)	(298,390)
Net cash provided by operating activities	1,997,328	1,707,330
Cash flows from investing activities
Construction	(1,404,269)	(1,437,419)
Improvements and equipment additions	(203,077)	(58,186)
Acquisition of self storage properties		(6,287,082)
Net cash used in investing activities	(1,607,346)	(7,782,687)
Cash flows from financing activities
Line of credit borrowing	230,000	4,914,000
Principal payments on note payable	(491,081)	(470,955)
Issuance of common stock under rights offering, net of expenses		6,280,987
Dividends paid	(2,427,023)	(2,107,376)
Net cash (used in) provided by financing activities	(2,688,104)	8,616,656
Net (decrease) increase in cash, cash equivalents, and restricted cash	(2,298,122)	2,541,299
Cash, cash equivalents, and restricted cash, beginning of period	4,253,565	1,712,266
Cash, cash equivalents, and restricted cash, end of period	1,955,443	4,253,565
Supplemental cash flow and noncash information
Cash paid for interest	996,904	821,434
Supplemental disclosure of noncash activities:
Dividends payable	$ 358	$ 7,179

Organization

Organization	12 Months Ended
	Dec. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization	1. ORGANIZATION Global Self Storage, Inc. (the “Company,” “we,” “our,” “us”) is a self-administered and self-managed Maryland real estate investment trust (“REIT”) that owns, operates, manages, acquires, develops and redevelops self storage properties (“stores” or “properties”) in the United States. Through its wholly owned subsidiaries, the Company owns and/or manages 13 self-storage properties in Connecticut

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Upon deregistration as an investment company, effective January 19, 2016, the Company’s status changed to an operating company from an investment company since it no longer met the assessment of an investment company under the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946 (“ASC 946”). The Company discontinued applying the guidance in ASC 946 and began to account for the change in status prospectively by accounting for its investments in accordance with other U.S. generally accepted accounting principles (“GAAP”) topics as of the date of the change in status. The consolidated financial statements of the Company are presented on the accrual basis of accounting in accordance with GAAP and include the accounts of the Company and its wholly owned subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation. Reclassifications Certain amounts from the prior year have been reclassified to conform to current year presentation as described below. Cash, Cash Equivalents, and Restricted Cash The Company’s cash is deposited with financial institutions located throughout the United States and at times may exceed federally insured limits. The Company considers all highly liquid investments, which may include money market fund shares, with a maturity of three months or less to be cash equivalents. Restricted cash is comprised of escrowed funds deposited with a bank relating to capital expenditures. The carrying amount reported on the balance sheet for cash, cash equivalents, and restricted cash approximates fair value The following table provides a reconciliation of cash, cash equivalents, and restricted cash in our consolidated balance sheets to the total amount shown in our consolidated statements of cash flows: December 31, 2020 December 31, 2019 Cash and cash equivalents $ 1,614,771 $ 3,990,160 Restricted cash 340,672 263,405 Total cash, cash equivalents, and restricted cash as shown in our consolidated statements of cash flows $ 1,955,443 $ 4,253,565 Income Taxes The Company has elected to be treated as a REIT under the IRC. In order to maintain its qualification as a REIT, among other things, the Company is required to distribute at least 90% of its REIT taxable income to its stockholders and meet certain tests regarding the nature of its income and assets. As a REIT, the Company is not subject to federal income tax with respect to that portion of its income which meets certain criteria and is distributed annually to stockholders. The Company plans to continue to operate so that it meets the requirements for taxation as a REIT. Many of these requirements, however, are highly technical and complex. If the Company were to fail to meet these requirements, it would be subject to federal income tax. In management’s opinion, the requirements to maintain these elections are being met. The Company is subject to certain state and local taxes. The Company has elected to treat its corporate subsidiary, SSG TRS LLC, as a taxable REIT subsidiary (“TRS”). In general, the Company’s TRS may perform additional services for tenants and may engage in any real estate or non-real estate related business. A TRS is subject to federal and state and local corporate income tax. The Company recognizes the tax benefits of uncertain tax positions only where the position is “more likely than not” to be sustained assuming examination by tax authorities. The Company has reviewed its tax positions and has concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken on federal, state, and local income tax returns for open tax years (2017 – 2019), or is expected to be taken in the Company’s 2020 tax returns. Marketable Equity Securities Investments in equity securities that have readily determinable fair values are measured at fair value. Gains or losses from changes in the fair value of equity securities are recorded in net income, until the investment is sold or otherwise disposed. The specific identification method is used to determine the realized gain or loss on investments sold or otherwise disposed. Fair value is determined using a valuation hierarchy generally by reference to an active trading market, using quoted closing or bid prices. Judgment is used to ascertain if a formerly active market has become inactive and in determining fair values when markets have become inactive. Real Estate Assets Real estate assets are carried at the appreciated value as of January 19, 2016, the effective date of the Company’s change in status to an operating company, less accumulated depreciation from that date. Purchases subsequent to the effective date of the change in status are carried at cost, less accumulated depreciation. Direct and allowable internal costs associated with the development, construction, renovation, and improvement of real estate assets are capitalized. Property taxes and other costs associated with development incurred during a construction period are capitalized. A construction period begins when expenditures for a real estate asset have been made and activities that are necessary to prepare the asset for its intended use are in progress. A construction period ends when an asset is substantially complete and ready for its intended use. Acquisition costs are accounted for in accordance with Accounting Standard Update ("ASU") No. 2017-01 Business Combinations (Topic 805): Clarifying the Definition of a Business, which was adopted on January 1, 2018 and are generally capitalized for acquisitions that qualify as asset acquisitions. When properties are acquired, the purchase price is allocated to the tangible and intangible assets acquired and liabilities assumed based on estimated fair values. Allocations to land, building and improvements, and equipment are recorded based upon their respective fair values as estimated by management. In allocating the purchase price for an acquisition, the Company determines whether the acquisition includes intangible assets or liabilities. The Company allocates a portion of the purchase price to an intangible asset attributed to the value of in-place leases. This intangible is generally amortized to expense over the expected remaining term of the respective leases. Substantially all of the leases in place at acquired properties are at market rates, as the majority of the leases are month-to-month contracts. Repairs and maintenance costs are charged to expense as incurred. Major replacements and betterments that improve or extend the life of the asset are capitalized and depreciated over their estimated useful lives. Depreciation is computed using the straight-line method over the estimated useful lives of the buildings and improvements, which are generally between 5 and 39 years. Derivative Financial Instruments The Company carries all derivative financial instruments on the balance sheet at fair value. Fair value of derivatives is determined by reference to observable prices that are based on inputs not quoted on active markets, but corroborated by market data. The accounting for changes in the fair value of a derivative instrument depends on whether the derivative has been designated and qualifies as part of a hedging relationship. The Company’s use of derivative instruments has been limited to an interest rate cap agreement. The fair values of derivative instruments are included in prepaid expenses and other assets in the accompanying balance sheets. For derivative instruments not designated as cash flow hedges, the unrealized gains and losses are included in interest expense in the accompanying statements of operations. For derivatives designated as cash flow hedges, the effective portion of the changes in the fair value of the derivatives is initially reported in accumulated other comprehensive income (loss) in the Company’s balance sheets and subsequently reclassified into earnings when the hedged transaction affects earnings. The valuation analysis of the interest rate cap reflects the contractual terms of derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves. Accounts Payable and Accrued Expenses Accounts payable and accrued expenses primarily consist of property tax accruals, unearned rental income, and trade payables. Revenue and Expense Recognition Revenues from stores, which are primarily composed of rental income earned pursuant to month-to-month leases for storage space, as well as associated late charges and administrative fees, are recognized as earned in accordance with ASC Topic 842, Leases The Company's management fees are earned subject to the terms of the related property management services agreements (“PSAs”). These PSAs provide that the Company will perform management services, which include leasing and operating the property and providing accounting, marketing, banking, maintenance and other services. These services are provided in exchange for monthly management fees, which are based on a percentage of revenues collected from stores owned by third parties. PSAs generally have original terms of three years, after which management services are provided on a month-to-month basis unless terminated. Management fees are due on the last day of each calendar month that management services are provided. The Company accounts for the management services provided to a customer as a single performance obligation which are rendered over time each month in accordance with ASC Topic 606, Revenue from Contracts with Customers The Company accrues for property tax expense based upon actual amounts billed and, in some circumstances, estimates and historical trends when bills or assessments have not been received from the taxing authorities or such bills and assessments are in dispute. Cost of operations and general and administrative expense are expensed as incurred. Evaluation of Asset Impairment The Company evaluates its real estate assets and intangible assets consisting of in-place leases for indicators of impairment. If there are indicators of impairment and we determine that the asset is not recoverable from future undiscounted cash flows to be received through the asset’s remaining life (or, if earlier, the expected disposal date), we record an impairment charge to the extent the carrying amount exceeds the asset’s estimated fair value or net proceeds from expected disposal. The Company evaluates goodwill for impairment annually and whenever relevant events, circumstances, and other related factors indicate that fair value may be less that carrying amounts. If it is determined that the carrying amount of goodwill exceeds the amount that would be allocated to goodwill if the reporting unit were acquired for estimated fair value, an impairment charge is recorded. There were no indicators of impairment to goodwill, real estate assets, and intangible assets and no impairment charges were recorded during 2020 or 2019. Stock-based Compensation The measurement and recognition of compensation expense for all stock-based compensation awards to employees are based on estimated fair values. Awards granted are measured at fair value and any compensation expense is recognized over the service periods of each award. For awards granted which contain a graded vesting schedule and the only condition for vesting is a service condition, compensation cost is recognized as an expense on a straight-line basis over the requisite service period as if the award was, in substance, a single award. For awards granted for which vesting is subject to a performance condition, compensation cost is recognized over the requisite service period if and when the Company concludes it is probable that the performance condition will be achieved. Loan Procurement Costs Loan procurement costs, net are presented as a direct deduction from the carrying amount of the related debt liability. If there is not an associated debt liability recorded on the consolidated balance sheets, the costs are recorded as an asset net of accumulated amortization. Loan procurement costs associated with the Company's revolving credit facility remain in Line of credit issuance costs, net of amortization on the Company's consolidated balance sheets. The costs are amortized over the estimated life of the related debt. Use of Estimates The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The effects of the COVID-19 pandemic may negatively and materially impact significant estimates and assumptions used by the Company including, but not limited to estimates of expected credit losses and the fair value estimates of the Company’s assets and liabilities. Actual results could materially differ from management’s estimates. Recently Issued Accounting Standards In August 2017, the FASB issued ASU No. 2017-12 – Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. The purpose of this updated guidance is to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. The Company adopted this guidance on January 1, 2020, with no material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13 – Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The new guidance changes how entities measure credit losses for most financial assets. This standard requires an entity to estimate its lifetime expected credit loss and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. In November 2018, the FASB issued ASU No. 2018-19 – Codification Improvements to Topic 326, Financial Instruments - Credit Losses, which clarifies that receivables arising from operating leases are within the scope of the leasing standard (ASU No. 2016-02), and not within the scope of ASU No. 2016-13. The Company adopted this standard on January 1, 2020, with no material impact on the Company’s consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848)." ASU 2020-04 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. The Company continues to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur.

Real Estate Assets

Real Estate Assets	12 Months Ended
	Dec. 31, 2020
Real Estate [Abstract]
Real Estate Assets	3. REAL ESTATE ASSETS The carry value of the Company’s real estate assets is summarized as follows: December 31, 2020 December 31, 2019 Land $ 6,122,065 $ 6,122,065 Buildings, improvements, and equipment 60,317,918 57,178,338 Construction in progress — 1,532,235 Self storage properties 66,439,983 64,832,638 Less: Accumulated depreciation (6,671,450 ) (5,080,485 ) Real estate assets, net $ 59,768,533 $ 59,752,153 In 2019, the Company broke ground on the Millbrook, NY expansion, which, upon completion in February 2020, added approximately 16,500 of gross square feet of all-climate-controlled units. As of December 31, 2020 and 2019, development costs for this project have been capitalized and are reflected in real estate assets, net on the Company’s consolidated balance sheets. In November 2019, the Company acquired a self storage property. The acquisition of the property was accounted for as an asset acquisition. The cost of the property, including closing costs, was assigned to land, buildings, equipment, and in-place customer leases based on their relative fair values. The purchase price of the property acquired in 2019 has been assigned as follows: Consideration Paid Acquisition Date Fair Value Net Other Liabilities Assumed In-Place Closing Number of Date of Purchase (Assets Building and Customer Costs State Properties Acquisition Price Cash Paid Acquired) Land Equipment Leases Expensed NY 1 11/19/2019 $ 6,282,514 $ 6,287,082 $ (4,568 ) $ 628,251 $ 5,240,825 $ 413,438 $ — Total $ 6,282,514 $ 6,287,082 $ (4,568 ) $ 628,251 $ 5,240,825 $ 413,438 $ — The Company measures the fair value of in-place customer lease intangible assets based on the Company’s experience with customer turnover and the estimated cost to replace the in-place leases. The Company amortizes in-place customer leases on a straight-line basis over 12 months (the estimated future benefit period). Amortization expense related to in-place customer leases was $398,795 and $14,643 for the years ended December 31, 2020 and 2019, respectively. During the year ended December 31, 2020, the Company did not make any acquisitions.

Marketable Equity Securities

Marketable Equity Securities	12 Months Ended
	Dec. 31, 2020
Investments Debt And Equity Securities [Abstract]
Marketable Equity Securities	4. MARKETABLE EQUITY SECURITIES Investments in marketable equity securities consisted of the following: Gross Unrealized December 31, 2020 Cost Basis Gains Losses Value Investment in marketable equity securities Common stocks $ 755,487 $ 1,160,964 $ — $ 1,916,451 Total investment in marketable equity securities $ 755,487 $ 1,160,964 $ — $ 1,916,451 Gross Unrealized December 31, 2019 Cost Basis Gains Losses Value Investment in marketable equity securities Common stocks $ 755,487 $ 1,005,825 $ — $ 1,761,312 Total investment in marketable equity securities $ 755,487 $ 1,005,825 $ — $ 1,761,312

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. FAIR VALUE MEASUREMENTS The use of fair value to measure the financial instruments held by the Company and its subsidiaries is fundamental to its consolidated financial statements and is a critical accounting estimate because a substantial portion of its assets and liabilities are recorded at estimated fair value. The application of fair value measurements may be on a recurring or nonrecurring basis depending on the accounting principles applicable to the specific asset or liability or whether management has elected to carry the item at its estimated fair value. The hierarchy of valuation techniques is based on whether the inputs to those techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two types of inputs create the following fair value hierarchy: Level 1 — Quoted prices in active markets for identical instruments or liabilities. Level 2 — Prices determined using other significant observable inputs. Observable inputs are inputs that other market participants would use in pricing an asset or liability and are developed based on market data obtained from sources independent of the Company. These may include quoted prices for similar assets and liabilities, interest rates, prepayment speeds, credit risk, and market-corroborated inputs. Level 3 — Prices determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Company’s own assumptions about the factors that market participants use in pricing an asset or liability and are based on the best information available in the circumstances. This hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when estimating fair value. The valuation method used to estimate fair value may produce a fair value measurement that may not be indicative of ultimate realizable value. Furthermore, while management believes its valuation methods are appropriate and consistent with those used by other market participants, the use of different methods or assumptions to estimate the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. Those estimated values may differ significantly from the values that would have been used had a readily available market for such loans or investments existed, or had such loans or investments been liquidated, and those differences could be material to the financial statements. Fair valued assets consist of shares of equity securities and an interest rate cap. The value of the equity securities is based on a traded market price and is considered to be a level 1 measurement, and the value of the interest rate cap is based on its maturity, observable market-based inputs including interest rate curves and is considered to be a level 2 measurement. The following table provides the assets and liabilities carried at fair value measured on a recurring basis as of December 31, 2020 and December 31, 2019: December 31, 2020 Level 1 Level 2 Level 3 Total Assets Marketable equity securities $ 1,916,451 $ — $ — $ 1,916,451 Interest rate cap — 4 — 4 Total assets at fair value $ 1,916,451 $ 4 $ — $ 1,916,455 December 31, 2019 Level 1 Level 2 Level 3 Total Assets Marketable equity securities $ 1,761,312 $ — $ — $ 1,761,312 Interest rate cap — 51 — 51 Total assets at fair value $ 1,761,312 $ 51 $ — $ 1,761,363 There were no assets transferred from level 1 to level 2 as of December 31, 2019 or December 31, 2018. The Company did not have any assets or liabilities that are re-measured on a recurring basis using significant unobservable inputs as of December 31, 2020 or December 31, 2019. The fair values of financial instruments including cash and cash equivalents, restricted cash, accounts receivable, and accounts payable approximated their respective carrying values as of December 31, 2020 and 2019. The aggregate estimated fair value of the Company’s debt was $24,596,649 and $24,474,174 as of December 31, 2020 and 2019, respectively. These estimates were based on market interest rates for comparable obligations, general market conditions and maturity.

Derivatives

Derivatives	12 Months Ended
	Dec. 31, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivatives	6. The Company’s objective in using an interest rate derivative is to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company uses an interest rate cap to manage interest rate risk. The Company carries the premium paid for the interest rate cap as an asset on the balance sheet at fair value. The change in the unrealized gain or loss of the premium is recorded as an increase or decrease to interest expense. The following table summarizes the terms of the Company’s derivative financial instrument as of December 31, 2020: Notional Amount Effective Maturity Product December 31, 2020 December 31, 2019 Strike Date Date Cap Agreement $ 7,500,000 $ 7,500,000 3.50 % - 4.00% 12/24/2018 12/20/2021

Note Payable and Revolving Line

Note Payable and Revolving Line of Credit	12 Months Ended
	Dec. 31, 2020
Notes Payable [Abstract]
Note Payable and Revolving Line of Credit	7. NOTE PAYABLE AND REVOLVING LINE OF CREDIT Note Payable On June 24, 2016, certain wholly owned subsidiaries (the “Secured Subsidiaries”) of the Company entered into a loan agreement (the “Loan Agreement”) borrowing the principal amount of $20 million pursuant to a promissory note (the “Promissory Note”). The Promissory Note bears an interest rate equal to 4.192% per annum and is due to mature on July 1, 2036. Pursuant to a security agreement (the “Security Agreement”), the obligations under the Loan Agreement are secured by certain real estate assets owned by the Secured Subsidiaries. The Company entered into a non-recourse guaranty on June 24, 2016 (the “Guaranty,” and together with the Loan Agreement, the Promissory Note and the Security Agreement, the “Loan Documents”) to guarantee the payment to Lender of certain obligations of the Secured Subsidiaries under the Loan Agreement. The Loan Documents require the Secured Subsidiaries and the Company to comply with certain covenants, including, among others, a minimum net worth test and other customary covenants. The Lender may accelerate amounts outstanding under the Loan Documents upon the occurrence of an Event of Default (as defined in the Loan Agreement) including, but not limited to, the failure to pay amounts due or commencement of bankruptcy proceedings. As of December 31, 2020 and 2019, the Company was in compliance with these covenants. The Company incurred loan procurement costs of $646,246 and such costs have been recorded net of the note payable on the consolidated balance sheets. The costs are amortized over the term of the loan using the effective interest method and are recorded as an adjustment to interest expense. The Company recorded amortization expense of $40,470 and $41,492 for the years ended December 31, 2020 and 2019, respectively. As of December 31, 2020 and 2019 the carrying value of the Company’s note payable is summarized as follows: Note Payable December 31, 2020 December 31, 2019 Principal balance outstanding $ 18,847,475 $ 19,338,556 Less: Loan procurement costs, net (458,299 ) (498,769 ) Total note payable, net $ 18,389,176 $ 18,839,787 As of December 31, 2020, the note payable was secured by certain of its self storage properties with an aggregate net book value of approximately $25.9 million. The following table represents the future principal payment requirements on the note payable as of December 31, 2020: 2021 $ 513,857 2022 535,816 2023 558,714 2024 582,591 2025 607,488 2026 and thereafter 16,049,009 Total principal payments $ 18,847,475 Revolving Line of Credit The Company entered into a guaranty of payment on December 20, 2018 (the “Guaranty,” and together with the Agreement, the Note and related instruments, the “Revolver”) to guarantee the payment to Lender of certain obligations of the Subsidiaries under the Agreement. The Revolver requires the Subsidiaries and the Company to comply with certain covenants, including, among others, customary financial covenants. The Lender may accelerate amounts outstanding under the Loan Documents upon the occurrence of an Event of Default (as defined in the Agreement) including, but not limited to, the failure to pay amounts due to the Lender or commencement of bankruptcy proceedings. The Company incurred issuance costs of $477,981 and such costs are amortized as an adjustment to interest expense over the term of the loan. The Company recorded amortization expense of $159,327 and $159,327 for the years ended December 31, 2020 and 2019, respectively. The outstanding loan balance under the Revolver was $5,144,000 and $4,914,000 as of December 31, 2020 and 2019, respectively.

Leases

Leases	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Leases	8. LEASES Global Self Storage as Lessor The Company's property rental revenue is primarily related to rents received from tenants at its operating stores. The Company's leases with its self storage tenants are generally on month-to-month terms, include automatic monthly renewals, allow flexibility to increase rental rates over time as market conditions permit, and provide for the collection of contingent fees such as late fees. These leases do not include any terms or conditions that allow the tenants to purchase the leased space. All self-storage leases for which the Company acts as lessor have been classified as operating leases. The real estate assets related to the Company's stores are included in "Real estate assets, net" on the Company's consolidated balance sheets and are presented at historical cost less accumulated depreciation and impairment, if any. Rental income related to these operating leases is included in Property rental revenue on the Company's consolidated statements of operations, and is recognized each month during the month-to-month terms at the rental rate in place during each month. Global Self Storage as Lessee The Company is a lessee in a lease agreement for an automobile entered into November 2019 with a lease term of 3 years. The lease agreement does not contain any material residual value guarantees or material restrictive covenants. As a result of the Company’s election of the package of practical expedients permitted within ASC 842, which among other things, allows for the carryforward of historical lease classification, all of the Company’s lease agreements have been classified as operating leases. Lease expense for payments related to the Company’s operating leases is recognized on a straight-line basis over the lease term. Right-of-use assets represent the Company’s right to use an underlying asset during the lease term and lease liabilities represent the Company’s obligation to make lease payments as specified in the lease. Right-of-use assets and lease liabilities related to the Company’s operating leases are recognized at the lease commencement date based on the present value of the remaining lease payments over the lease term. As the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available surrounding the Company’s secured borrowing rates and implied secured spread at the lease commencement date in determining the present value of lease payments. The right-of-use asset also includes any lease payments made at or before lease commencement less any lease incentives. The Company had right-of-use assets and lease liabilities related to its operating leases of $24,972 and $24,972 and $37,700 and $37,700, respectively, as of December 31, 2020 and 2019, respectively. Such amounts are included in Other assets, net and Accounts payable, accrued expenses and other liabilities on the Company’s consolidated balance sheets, respectively. As of December 31, 2020, the Company’s weighted average remaining lease term and weighted average discount rate related to its operating leases were approximately 2 years and 4.78%, respectively. The future minimum lease payments under the automobile lease are $14,254 and $11,878 for the years ending December 31, 2021 and 2022, respectively.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	9. EARNINGS PER SHARE Basic earnings per share is computed using the weighted average number of shares outstanding. Diluted earnings per share is computed using the weighted average number of shares outstanding adjusted for the incremental shares attributed to potentially diluted securities. The following table sets forth the computation of basic and diluted earnings per share: For the Year Ended December 31, 2020 2019 Net income $ 274,341 $ 590,619 Weighted average common shares outstanding: Average number of common shares outstanding - basic 9,273,554 7,699,966 Net effect of dilutive unvested restricted stock awards included for treasury stock method 9,133 2,151 Average number of common shares outstanding - diluted 9,282,687 7,702,117 Earnings per common share Basic $ 0.03 $ 0.08 Diluted $ 0.03 $ 0.08 Common stock dividends paid in cash totaled $2,427,401 ($0.26 per share) and $2,107,376 ($0.26 per share) for the years ended December 31, 2020 and 2019, respectively.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	10. RELATED PARTY TRANSACTIONS Certain officers and directors of the Company also serve as officers and directors of Winmill & Co. Incorporated (“Winco”), Bexil Corporation (“Bexil”), Tuxis Corporation (“Tuxis”), and their affiliates (collectively with the Company, the “Affiliates”). As of December 31, 2020, certain of the Affiliates owned approximately 7.9% of the Company’s outstanding common stock. Pursuant to an arrangement between a professional employer organization (“PEO”) and the Affiliates, the PEO provides payroll, benefits, compliance, and related services for employees of the Affiliates in accordance with applicable rules and regulations under the IRC and, in connection therewith, Midas Management Corporation (“MMC”), a subsidiary of Winco, acts as a conduit payer of compensation and benefits to the Affiliates’ employees including those who are concurrently employed by the Company and its Affiliates. Rent expense of concurrently used office space and overhead expenses for various concurrently used administrative and support functions incurred by the Affiliates are allocated at cost among them. The Affiliates participate in a 401(k) retirement savings plan for substantially all qualified employees. A matching expense based upon a percentage of contributions to the plan by eligible employees is incurred and allocated among the Affiliates. The matching expense is accrued and funded on a current basis and may not exceed the amount permitted as a deductible expense under the IRC. The aggregate rent and overhead accrued and paid by the Company to Winco for the years ended December 31, 2020 and 2019 was $73,823 and $77,850, respectively. The Company had reimbursements payable to MMC and Winco for compensation and benefits and rent and overhead of $18,902 and $19,096 as of December 31, 2020 and 2019, respectively. The Company currently reimburses monthly automobile expenses of $1,000 per month to its President, Mark C. Winmill. To the extent that the monthly payment under the Company’s automobile lease exceeds the current monthly reimbursement amount, Mr. Winmill voluntarily reimburses the Company for the excess amount. In this regard, Mr. Winmill has reimbursed the Company $2,254 and $3,228 for the years ended December 31, 2020 and 2019, respectively. The Company leases office space and storage to certain Affiliates under rental agreements. The terms of occupancy are month to month and automatically renew unless terminated by either party on ten days’ written notice. The Company earned rental income pursuant to such agreements of $9,204 and $9,204 for the years ended December 31, 2020 and 2019, respectively. In December 2019, the Company paid Tuxis $900,000 in connection with the purchase of a property made in 2016. On May 19, 2020, MMC (the “Borrower”) entered into a Paycheck Protection Program Term Note (“PPP Note”) with Customers Bank on behalf of itself and the Affiliates under the Paycheck Protection Program (the "Program") of the recently enacted Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") administered by the U.S. Small Business Administration. The Borrower received total proceeds of $486,602 from the PPP Note. In accordance with the requirements of the CARES Act, the Affiliates expect to use proceeds from the PPP Note primarily for payroll and other eligible costs. Interest accrues on the PPP Note at the rate per annum of 1.00%. The Borrower may apply to Customers Bank for forgiveness of the amount due on the PPP Note which shall be an amount equal to the sum of payroll costs, mortgage interest, rent obligations and covered utility payments incurred during, at the Borrowers discretion, either the eight weeks or twenty-four weeks (the “Covered Period”) following disbursement under the PPP Note. During the period from May 19, 2020 through the six-month anniversary of the date of the PPP Note (the “Deferral Expiration Date”), neither principal nor interest shall be due and payable. On the Deferral Expiration Date, the outstanding principal of the PPP Note or the amount that is not forgiven under the Program shall convert to an amortizing term loan. On May 19, 2022, all accrued interest that is not forgiven under the Program shall be due and payable. Additionally, on December 19, 2020 and continuing on the 19th day of each month thereafter until May 19, 2022 equal installments of principal shall be due and payable, each in an amount determined by the Lender (the “Monthly Principal Amount”). Interest shall be payable at the same time as the Monthly Principal Amount. Any outstanding principal and accrued interest shall be due and payable in full on May 19, 2022. The Company expects to contribute to the interest payable on the PPP Note in proportion to its share of payroll and other eligible costs used in the original calculation of the loan request. For the year ended December 31, 2020, there has been no material impact to the Company’s operations or cash flows due to the PPP Note. If and when the PPP Note is, in part or wholly forgiven, and legal release is received, the Company expects to record a gain in an amount proportionate to its share of payroll costs and other eligible expenses incurred during the Covered Period. The Company expects the loan forgiveness to reduce such expenses and reduce related reimbursements to MMC and Winco accordingly.

Capital Stock

Capital Stock	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Capital Stock	11. CAPITAL STOCK As of December 31, 2020, the Company was authorized to issue 450,000,000 shares of $0.01 par value common stock of which 9,343,118 had been issued and was outstanding. The Company was also authorized to issue 50,000,000 shares of preferred stock, $0.01 par value, authorized, of which none has been issued. On November 18, 2019, the Company commenced a rights offering to eligible common stockholders of the Company for the purchase of up to approximately $11.6 million of newly issued shares of the Company’s common stock. The rights offering concluded on December 13, 2019, with the Company raising $6,280,987, net of offering costs, from the sale of 1,601,291 shares at $4.18 per share.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	12. STOCK-BASED COMPENSATION On October 16, 2017 (“Effective Date”), the Company’s stockholders approved the Company’s 2017 Equity Incentive Plan (the “Plan”). The Plan is designed to provide equity-based incentives to certain eligible persons, as defined in the Plan, in the form of options, share appreciation rights, restricted stock, restricted stock units, dividend equivalent rights or other forms of equity-based compensation as determined in the discretion of the Board of Directors, the Compensation Committee of the Board of Directors, or other designee thereof. The total number of shares of common stock reserved and available for issuance under the Plan on the Effective Date was 760,000. On March 26, 2020, the Company approved restricted stock awards under the Plan to certain of its officers and employees in the aggregate amount of 25,905 shares, of which 10,880 shares are time-based grants and 15,025 shares are performance-based grants. During 2019, Company approved restricted stock awards under the Plan to certain of its officers and employees in the aggregate amount of 28,755 shares, of which 13,730 shares are time-based grants and 15,025 shares are performance-based grants. The Company recorded $126,035 and $102,989 of expense in general and administrative expense in its statement of operations related to restricted stock awards for the years ended December 31, 2020 and 2019, respectively. At December 31, 2020, there was $131,119 and $76,771 of unrecognized compensation expense related to unvested time-based and performance-based restricted stock awards, respectively. That cost is expected to be recognized over a weighted—average period of 1.9 years and 2.3 years for time-based and performance-based awards, respectively. The fair value of common stock awards is determined based on the closing trading price of the Company’s common stock on the grant date. Time-Based Restricted Stock Grants These time-based grants vest solely based on continued employment, with 6.25% of the shares eligible to vest on each three-month anniversary of the grant date during the four-year vesting period. Time-based restricted stock cannot be transferred during the vesting period. Grants of time-based restricted stock entitle the holder to dividends paid by the Company on shares of its common stock. A summary of the Company’s time-based restricted stock grant activity is as follows: Weighted-Average Grant-Date Time-Based Restricted Stock Grants Stock Fair Value Unvested at December 31, 2019 39,932 $ 4.31 Granted 10,880 $ 3.58 Vested (18,582 ) $ 4.26 Unvested at December 31, 2020 32,230 $ 4.10 Performance-Based Restricted Stock Grants Performance-based restricted stock grants vest based on continued employment and the achievement of certain Funds from Operations, as adjusted (“AFFO”) and same store revenue growth (“SSRG”) goals by the Company during 2020. Between 0% and 200% of these shares will be earned based on achievement of the AFFO and SSRG goals in 2020, and the shares which are earned will remain subject to quarterly vesting during the remaining four-year time vesting period. Dividends paid by the Company prior to the determination of how many shares are earned will be retained by the Company and released only with respect to earned shares. If a Change in Control (as defined in the Plan) occurs during 2020, the number of shares earned will equal the greater of the number of shares granted and the number of shares which would have been earned based on the AFFO and SSRG through the date of the Change in Control. If following a Change in Control, a grantee is terminated by the Company without Cause or by the grantee with Good Reason (as each is defined in the Plan), all unvested restricted stock will fully vest. Performance-based restricted stock earned during 2020 and 2019 were 1,941 shares and 15,025 shares, respectively. A summary of the Company’s performance-based restricted stock grant activity is as follows: Weighted-Average Grant-Date Performance-based Stock Grants Stock Fair Value Unvested at December 31, 2019 27,739 $ 4.21 Granted 1,941 $ 3.58 Vested (11,028 ) $ 4.23 Unvested at December 31, 2020 18,652 $ 4.13 Forfeitures are accounted for as they occur, compensation cost previously recognized for an award that is forfeited because of a failure to satisfy a service or performance condition is reversed in the period of the forfeiture.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	13. COMMITMENTS AND CONTINGENCIES The Company enters into contracts that contain a variety of representations and warranties and which may provide general indemnifications. The Company’s maximum exposure under these arrangements is unknown as it involves future claims that may be made against the Company under circumstances that have not occurred.

Risk and Uncertanties

Risk and Uncertanties	12 Months Ended
	Dec. 31, 2020
Risks And Uncertainties [Abstract]
Risk and Uncertanties	14. RISKS AND UNCERTANTIES COVID-19 The outbreak of the novel coronavirus pandemic (“COVID-19”) around the globe 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 many countries, including the United States, have reacted by, among other things, instituting quarantines, mandating business and school closures, requiring restrictions on travel and issuing “shelter-in-place” and/or “stay-at-home” orders, and imposing restrictions on the types of businesses that may continue to operate. While some of these restrictions have been relaxed or phased out, many of these or similar restrictions remain in place, continue to be implemented, or additional restrictions are being considered. Such actions are creating significant disruption in global supply chains, and adversely impacting a number of industries, such as transportation, hospitality and entertainment. The major disruption caused by COVID-19 significantly reduced economic activity in most of the United States resulting in a significant increase in unemployment claims. COVID-19 has had a continued and prolonged adverse impact on economic and market conditions and has triggered a period of economic slowdown which could have a material adverse effect on the Company’s results and financial condition. The full impact of COVID-19 on the real estate industry, the credit markets and consequently on the Company’s financial condition and results of operations is uncertain and cannot be predicted at the current time as it depends on several factors beyond the control of the Company including, but not limited to (i) the uncertainty around the severity and duration of the outbreak, (ii) the effectiveness of the United States public health response, (iii) the pandemic’s impact on the U.S. and global economies, (iv) the timing, scope and effectiveness of additional governmental responses to the pandemic, (v) the timing and speed of economic recovery, including the availability of a treatment or vaccination for COVID-19, and (vi) the negative impact on our properties. Credit Risk Credit risk - Financial assets that are exposed to credit risk consist primarily of cash and cash equivalents and certain portions of accounts receivable including rents receivable from our tenants. Cash and cash equivalents are on deposit with highly rated commercial banks.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	15. SUBSEQUENT EVENTS On March 25, 2021, the Company approved restricted share awards under the Plan to certain of its officers and employees in the aggregate amount of 74,955 shares, of which 15,025 shares are performance-based grants and the remainder of the shares are time-based grants. Between 0% and 200% of these shares will be earned based on achievement of the AFFO and SSRG goals in 2021, and the shares which are earned will remain subject to quarterly vesting during the remaining four-year time vesting period. Dividends paid by the Company prior to the determination of how many shares are earned will be retained by the Company and released only with respect to earned shares. If a Change in Control (as defined in the Plan) occurs during 2021, the number of shares earned will equal the greater of the number of shares granted and the number of shares which would have been earned based on the AFFO and SSRG through the date of the Change in Control. If following a Change in Control, a grantee is terminated by the Company without Cause or by the grantee with Good Reason (as each is defined in the Plan), all unvested restricted shares will fully vest. On March 1, 2021, the Company declared a cash dividend of $0.065 per common share payable on March 31, 2021 to stockholders of record as of March 15, 2021.

Schedule III, Real Estate and R

Schedule III, Real Estate and Related Depreciation	12 Months Ended
	Dec. 31, 2020
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Real Estate and Related Depreciation	GLOBAL SELF STORAGE, INC. SCHEDULE III REAL ESTATE AND RELATED DEPRECIATION December 31, 2020 Initial cost Gross Carrying Amount at December 31, 2020 Description Square Footage Land Buildings & Improvements Costs Subsequent to Acquisition Land Buildings & Improvements Total Accumulated Depreciation Clinton, CT (B) 30,408 $ 356,040 $ 3,108,285 $ 14,197 $ 356,040 $ 3,122,482 $ 3,478,522 $ 309,989 Bolingbrook, IL (A) 113,700 633,914 5,491,409 2,456,374 633,914 7,947,783 8,581,697 1,006,053 Dolton, IL (A) 86,590 614,413 5,227,313 9,611 614,413 5,236,924 5,851,337 696,926 McCordsville, IN (B) 76,360 770,000 6,776,000 474,336 770,000 7,250,336 8,020,336 732,035 Merrillville, IN (A) 80,570 597,229 5,104,011 464,324 597,229 5,568,335 6,165,564 712,701 Millbrook, NY (B) 24,472 423,960 2,900,895 2,343,125 423,960 5,244,020 5,667,980 330,581 Rochester, NY (A) 68,126 571,583 5,227,630 22,503 571,583 5,250,133 5,821,716 656,730 Lima, OH (B) 98,055 530,000 4,664,000 112,915 530,000 4,776,915 5,306,915 514,747 Sadsburyville, PA (A) 78,857 462,749 5,146,579 28,362 462,749 5,174,941 5,637,690 687,125 Summerville, SC (A) 76,560 (1) 345,160 2,989,159 8,400 345,160 2,997,559 3,342,719 379,348 Summerville, SC (A) 42,760 (2) 188,766 1,605,405 14,725 188,766 1,620,130 1,808,896 205,853 West Henrietta, NY (B) 55,550 628,251 5,229,481 262,333 628,251 5,229,481 5,857,732 32,148 832,008 $ 6,122,065 $ 53,470,167 $ 6,211,205 $ 6,122,065 $ 59,419,039 $ 65,541,104 $ 6,264,236 (A) This property is held as collateral under the Loan Agreement with an outstanding balance of $18,847,475 as of December 31, 2020. (B) This property is held as collateral under the Revolver with an outstanding balance of $5,144,000 as of December 31, 2020 (1) SSG Summerville I LLC. (2) SSG Summerville II LLC Activity in storage properties during the years ended December 31, 2020 and 2019 is as follows: 2020 2019 Storage properties * Balance at beginning of period $ 64,832,638 $ 57,467,957 Acquisitions and improvements 1,607,345 7,364,681 Balance at end of period 66,439,983 64,832,638 Accumulated depreciation Balance at beginning of period (5,080,485 ) (3,656,220 ) Depreciation expense (1,590,965 ) (1,424,265 ) Balance at end of period (6,671,450 ) (5,080,485 ) Storage properties, net $ 59,768,533 $ 59,752,153 * These amounts include equipment that is housed at the Company’s properties and construction in progress which is excluded from Schedule III above. As of December 31, 2020, the aggregate cost of real estate for U.S. federal income tax purposes was $63,788,287.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Upon deregistration as an investment company, effective January 19, 2016, the Company’s status changed to an operating company from an investment company since it no longer met the assessment of an investment company under the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946 (“ASC 946”). The Company discontinued applying the guidance in ASC 946 and began to account for the change in status prospectively by accounting for its investments in accordance with other U.S. generally accepted accounting principles (“GAAP”) topics as of the date of the change in status. The consolidated financial statements of the Company are presented on the accrual basis of accounting in accordance with GAAP and include the accounts of the Company and its wholly owned subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation.
Reclassifications	Reclassifications Certain amounts from the prior year have been reclassified to conform to current year presentation as described below.
Cash, Cash Equivalents, and Restricted Cash	Cash, Cash Equivalents, and Restricted Cash The Company’s cash is deposited with financial institutions located throughout the United States and at times may exceed federally insured limits. The Company considers all highly liquid investments, which may include money market fund shares, with a maturity of three months or less to be cash equivalents. Restricted cash is comprised of escrowed funds deposited with a bank relating to capital expenditures. The carrying amount reported on the balance sheet for cash, cash equivalents, and restricted cash approximates fair value The following table provides a reconciliation of cash, cash equivalents, and restricted cash in our consolidated balance sheets to the total amount shown in our consolidated statements of cash flows: December 31, 2020 December 31, 2019 Cash and cash equivalents $ 1,614,771 $ 3,990,160 Restricted cash 340,672 263,405 Total cash, cash equivalents, and restricted cash as shown in our consolidated statements of cash flows $ 1,955,443 $ 4,253,565
Income Taxes	Income Taxes The Company has elected to be treated as a REIT under the IRC. In order to maintain its qualification as a REIT, among other things, the Company is required to distribute at least 90% of its REIT taxable income to its stockholders and meet certain tests regarding the nature of its income and assets. As a REIT, the Company is not subject to federal income tax with respect to that portion of its income which meets certain criteria and is distributed annually to stockholders. The Company plans to continue to operate so that it meets the requirements for taxation as a REIT. Many of these requirements, however, are highly technical and complex. If the Company were to fail to meet these requirements, it would be subject to federal income tax. In management’s opinion, the requirements to maintain these elections are being met. The Company is subject to certain state and local taxes. The Company has elected to treat its corporate subsidiary, SSG TRS LLC, as a taxable REIT subsidiary (“TRS”). In general, the Company’s TRS may perform additional services for tenants and may engage in any real estate or non-real estate related business. A TRS is subject to federal and state and local corporate income tax. The Company recognizes the tax benefits of uncertain tax positions only where the position is “more likely than not” to be sustained assuming examination by tax authorities. The Company has reviewed its tax positions and has concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken on federal, state, and local income tax returns for open tax years (2017 – 2019), or is expected to be taken in the Company’s 2020 tax returns.
Marketable Equity Securities	Marketable Equity Securities Investments in equity securities that have readily determinable fair values are measured at fair value. Gains or losses from changes in the fair value of equity securities are recorded in net income, until the investment is sold or otherwise disposed. The specific identification method is used to determine the realized gain or loss on investments sold or otherwise disposed. Fair value is determined using a valuation hierarchy generally by reference to an active trading market, using quoted closing or bid prices. Judgment is used to ascertain if a formerly active market has become inactive and in determining fair values when markets have become inactive.
Real Estate Assets	Real Estate Assets Real estate assets are carried at the appreciated value as of January 19, 2016, the effective date of the Company’s change in status to an operating company, less accumulated depreciation from that date. Purchases subsequent to the effective date of the change in status are carried at cost, less accumulated depreciation. Direct and allowable internal costs associated with the development, construction, renovation, and improvement of real estate assets are capitalized. Property taxes and other costs associated with development incurred during a construction period are capitalized. A construction period begins when expenditures for a real estate asset have been made and activities that are necessary to prepare the asset for its intended use are in progress. A construction period ends when an asset is substantially complete and ready for its intended use. Acquisition costs are accounted for in accordance with Accounting Standard Update ("ASU") No. 2017-01 Business Combinations (Topic 805): Clarifying the Definition of a Business, which was adopted on January 1, 2018 and are generally capitalized for acquisitions that qualify as asset acquisitions. When properties are acquired, the purchase price is allocated to the tangible and intangible assets acquired and liabilities assumed based on estimated fair values. Allocations to land, building and improvements, and equipment are recorded based upon their respective fair values as estimated by management. In allocating the purchase price for an acquisition, the Company determines whether the acquisition includes intangible assets or liabilities. The Company allocates a portion of the purchase price to an intangible asset attributed to the value of in-place leases. This intangible is generally amortized to expense over the expected remaining term of the respective leases. Substantially all of the leases in place at acquired properties are at market rates, as the majority of the leases are month-to-month contracts. Repairs and maintenance costs are charged to expense as incurred. Major replacements and betterments that improve or extend the life of the asset are capitalized and depreciated over their estimated useful lives. Depreciation is computed using the straight-line method over the estimated useful lives of the buildings and improvements, which are generally between 5 and 39 years.
Derivative Financial Instruments	Derivative Financial Instruments The Company carries all derivative financial instruments on the balance sheet at fair value. Fair value of derivatives is determined by reference to observable prices that are based on inputs not quoted on active markets, but corroborated by market data. The accounting for changes in the fair value of a derivative instrument depends on whether the derivative has been designated and qualifies as part of a hedging relationship. The Company’s use of derivative instruments has been limited to an interest rate cap agreement. The fair values of derivative instruments are included in prepaid expenses and other assets in the accompanying balance sheets. For derivative instruments not designated as cash flow hedges, the unrealized gains and losses are included in interest expense in the accompanying statements of operations. For derivatives designated as cash flow hedges, the effective portion of the changes in the fair value of the derivatives is initially reported in accumulated other comprehensive income (loss) in the Company’s balance sheets and subsequently reclassified into earnings when the hedged transaction affects earnings. The valuation analysis of the interest rate cap reflects the contractual terms of derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves.
Accounts Payable and Accrued Expenses	Accounts Payable and Accrued Expenses Accounts payable and accrued expenses primarily consist of property tax accruals, unearned rental income, and trade payables.
Revenue and Expense Recognition	Revenue and Expense Recognition Revenues from stores, which are primarily composed of rental income earned pursuant to month-to-month leases for storage space, as well as associated late charges and administrative fees, are recognized as earned in accordance with ASC Topic 842, Leases The Company's management fees are earned subject to the terms of the related property management services agreements (“PSAs”). These PSAs provide that the Company will perform management services, which include leasing and operating the property and providing accounting, marketing, banking, maintenance and other services. These services are provided in exchange for monthly management fees, which are based on a percentage of revenues collected from stores owned by third parties. PSAs generally have original terms of three years, after which management services are provided on a month-to-month basis unless terminated. Management fees are due on the last day of each calendar month that management services are provided. The Company accounts for the management services provided to a customer as a single performance obligation which are rendered over time each month in accordance with ASC Topic 606, Revenue from Contracts with Customers The Company accrues for property tax expense based upon actual amounts billed and, in some circumstances, estimates and historical trends when bills or assessments have not been received from the taxing authorities or such bills and assessments are in dispute. Cost of operations and general and administrative expense are expensed as incurred.
Evaluation of Asset Impairment	Evaluation of Asset Impairment The Company evaluates its real estate assets and intangible assets consisting of in-place leases for indicators of impairment. If there are indicators of impairment and we determine that the asset is not recoverable from future undiscounted cash flows to be received through the asset’s remaining life (or, if earlier, the expected disposal date), we record an impairment charge to the extent the carrying amount exceeds the asset’s estimated fair value or net proceeds from expected disposal. The Company evaluates goodwill for impairment annually and whenever relevant events, circumstances, and other related factors indicate that fair value may be less that carrying amounts. If it is determined that the carrying amount of goodwill exceeds the amount that would be allocated to goodwill if the reporting unit were acquired for estimated fair value, an impairment charge is recorded. There were no indicators of impairment to goodwill, real estate assets, and intangible assets and no impairment charges were recorded during 2020 or 2019.
Stock-based Compensation	Stock-based Compensation The measurement and recognition of compensation expense for all stock-based compensation awards to employees are based on estimated fair values. Awards granted are measured at fair value and any compensation expense is recognized over the service periods of each award. For awards granted which contain a graded vesting schedule and the only condition for vesting is a service condition, compensation cost is recognized as an expense on a straight-line basis over the requisite service period as if the award was, in substance, a single award. For awards granted for which vesting is subject to a performance condition, compensation cost is recognized over the requisite service period if and when the Company concludes it is probable that the performance condition will be achieved.
Loan Procurement Costs	Loan Procurement Costs Loan procurement costs, net are presented as a direct deduction from the carrying amount of the related debt liability. If there is not an associated debt liability recorded on the consolidated balance sheets, the costs are recorded as an asset net of accumulated amortization. Loan procurement costs associated with the Company's revolving credit facility remain in Line of credit issuance costs, net of amortization on the Company's consolidated balance sheets. The costs are amortized over the estimated life of the related debt.
Use of Estimates	Use of Estimates The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The effects of the COVID-19 pandemic may negatively and materially impact significant estimates and assumptions used by the Company including, but not limited to estimates of expected credit losses and the fair value estimates of the Company’s assets and liabilities. Actual results could materially differ from management’s estimates.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In August 2017, the FASB issued ASU No. 2017-12 – Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. The purpose of this updated guidance is to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. The Company adopted this guidance on January 1, 2020, with no material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13 – Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The new guidance changes how entities measure credit losses for most financial assets. This standard requires an entity to estimate its lifetime expected credit loss and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. In November 2018, the FASB issued ASU No. 2018-19 – Codification Improvements to Topic 326, Financial Instruments - Credit Losses, which clarifies that receivables arising from operating leases are within the scope of the leasing standard (ASU No. 2016-02), and not within the scope of ASU No. 2016-13. The Company adopted this standard on January 1, 2020, with no material impact on the Company’s consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848)." ASU 2020-04 contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. The Company continues to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur.
Credit Risk	Credit Risk Credit risk - Financial assets that are exposed to credit risk consist primarily of cash and cash equivalents and certain portions of accounts receivable including rents receivable from our tenants. Cash and cash equivalents are on deposit with highly rated commercial banks.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Reconciliation of Cash, Cash Equivalents, and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash in our consolidated balance sheets to the total amount shown in our consolidated statements of cash flows: December 31, 2020 December 31, 2019 Cash and cash equivalents $ 1,614,771 $ 3,990,160 Restricted cash 340,672 263,405 Total cash, cash equivalents, and restricted cash as shown in our consolidated statements of cash flows $ 1,955,443 $ 4,253,565

Real Estate Assets (Tables)

Real Estate Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Real Estate [Abstract]
Summary of Carry Value of Real Estate Assets	The carry value of the Company’s real estate assets is summarized as follows: December 31, 2020 December 31, 2019 Land $ 6,122,065 $ 6,122,065 Buildings, improvements, and equipment 60,317,918 57,178,338 Construction in progress — 1,532,235 Self storage properties 66,439,983 64,832,638 Less: Accumulated depreciation (6,671,450 ) (5,080,485 ) Real estate assets, net $ 59,768,533 $ 59,752,153
Schedule of Purchase Price of Property Acquired	The purchase price of the property acquired in 2019 has been assigned as follows: Consideration Paid Acquisition Date Fair Value Net Other Liabilities Assumed In-Place Closing Number of Date of Purchase (Assets Building and Customer Costs State Properties Acquisition Price Cash Paid Acquired) Land Equipment Leases Expensed NY 1 11/19/2019 $ 6,282,514 $ 6,287,082 $ (4,568 ) $ 628,251 $ 5,240,825 $ 413,438 $ — Total $ 6,282,514 $ 6,287,082 $ (4,568 ) $ 628,251 $ 5,240,825 $ 413,438 $ —

Marketable Equity Securities (T

Marketable Equity Securities (Tables)	12 Months Ended
	Dec. 31, 2020
Investments Debt And Equity Securities [Abstract]
Schedule of Investments in Marketable Equity Securities	Investments in marketable equity securities consisted of the following: Gross Unrealized December 31, 2020 Cost Basis Gains Losses Value Investment in marketable equity securities Common stocks $ 755,487 $ 1,160,964 $ — $ 1,916,451 Total investment in marketable equity securities $ 755,487 $ 1,160,964 $ — $ 1,916,451 Gross Unrealized December 31, 2019 Cost Basis Gains Losses Value Investment in marketable equity securities Common stocks $ 755,487 $ 1,005,825 $ — $ 1,761,312 Total investment in marketable equity securities $ 755,487 $ 1,005,825 $ — $ 1,761,312

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Assets and Liabilities Carried at Fair Value Measured on Recurring Basis	The following table provides the assets and liabilities carried at fair value measured on a recurring basis as of December 31, 2020 and December 31, 2019: December 31, 2020 Level 1 Level 2 Level 3 Total Assets Marketable equity securities $ 1,916,451 $ — $ — $ 1,916,451 Interest rate cap — 4 — 4 Total assets at fair value $ 1,916,451 $ 4 $ — $ 1,916,455 December 31, 2019 Level 1 Level 2 Level 3 Total Assets Marketable equity securities $ 1,761,312 $ — $ — $ 1,761,312 Interest rate cap — 51 — 51 Total assets at fair value $ 1,761,312 $ 51 $ — $ 1,761,363

Derivatives (Tables)

Derivatives (Tables)	12 Months Ended
	Dec. 31, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Summary of Terms of Derivative Financial Instrument	The following table summarizes the terms of the Company’s derivative financial instrument as of December 31, 2020: Notional Amount Effective Maturity Product December 31, 2020 December 31, 2019 Strike Date Date Cap Agreement $ 7,500,000 $ 7,500,000 3.50 % - 4.00% 12/24/2018 12/20/2021

Note Payable and Revolving Li_2

Note Payable and Revolving Line of Credit (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Payable [Abstract]
Carrying Value of Note Payable	As of December 31, 2020 and 2019 the carrying value of the Company’s note payable is summarized as follows: Note Payable December 31, 2020 December 31, 2019 Principal balance outstanding $ 18,847,475 $ 19,338,556 Less: Loan procurement costs, net (458,299 ) (498,769 ) Total note payable, net $ 18,389,176 $ 18,839,787
Future Principal Payment Requirements	The following table represents the future principal payment requirements on the note payable as of December 31, 2020: 2021 $ 513,857 2022 535,816 2023 558,714 2024 582,591 2025 607,488 2026 and thereafter 16,049,009 Total principal payments $ 18,847,475

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share: For the Year Ended December 31, 2020 2019 Net income $ 274,341 $ 590,619 Weighted average common shares outstanding: Average number of common shares outstanding - basic 9,273,554 7,699,966 Net effect of dilutive unvested restricted stock awards included for treasury stock method 9,133 2,151 Average number of common shares outstanding - diluted 9,282,687 7,702,117 Earnings per common share Basic $ 0.03 $ 0.08 Diluted $ 0.03 $ 0.08

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Time Based Restricted Stock Grant Activity	A summary of the Company’s time-based restricted stock grant activity is as follows: Weighted-Average Grant-Date Time-Based Restricted Stock Grants Stock Fair Value Unvested at December 31, 2019 39,932 $ 4.31 Granted 10,880 $ 3.58 Vested (18,582 ) $ 4.26 Unvested at December 31, 2020 32,230 $ 4.10
Summary of Performance Based Grant Activity	A summary of the Company’s performance-based restricted stock grant activity is as follows: Weighted-Average Grant-Date Performance-based Stock Grants Stock Fair Value Unvested at December 31, 2019 27,739 $ 4.21 Granted 1,941 $ 3.58 Vested (11,028 ) $ 4.23 Unvested at December 31, 2020 18,652 $ 4.13

Organization - Additional Infor

Organization - Additional Information (Details)	12 Months Ended
	Dec. 31, 2020storesegment
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of owned self-storage properties | store	13
Number of operating segment | segment	1

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Cash and cash equivalents	$ 1,614,771	$ 3,990,160
Restricted cash	340,672	263,405
Total cash, cash equivalents, and restricted cash as shown in our consolidated statements of cash flows	$ 1,955,443	$ 4,253,565	$ 1,712,266

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2020USD ($)Contract	Dec. 31, 2019USD ($)
Summary Of Significant Accounting Policies [Line Items]
Percentage of real estate investment trust taxable income distributed for exemption of federal income tax	90.00%
Unrecognized tax benefits	$ 0
Impairment charges	$ 0	$ 0
Property Management Services Agreements
Summary Of Significant Accounting Policies [Line Items]
Services agreement original terms	3 years
Number of contract | Contract	1
Minimum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of buildings and improvements	5 years
Maximum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of buildings and improvements	39 years

Real Estate Assets - Summary of

Real Estate Assets - Summary of Carry Value of Real Estate Assets (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Real Estate [Abstract]
Land	$ 6,122,065	$ 6,122,065
Buildings, improvements, and equipment	60,317,918	57,178,338
Construction in progress		1,532,235
Self storage properties	66,439,983	64,832,638
Less: Accumulated depreciation	(6,671,450)	(5,080,485)
Real estate assets, net	$ 59,768,533	$ 59,752,153

Real Estate Assets - Additional

Real Estate Assets - Additional Information (Details)	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)ft²	Nov. 30, 2019Property
Real Estate Properties [Line Items]
Gross square feet of traditional drive-up storage units and all-climate-controlled units | ft²		16,500
Self Storage Properties
Real Estate Properties [Line Items]
Number of property acquired | Property			1
Amortization expenses | $	$ 398,795	$ 14,643
Estimated life	12 months

Real Estate Assets - Schedule o

Real Estate Assets - Schedule of Purchase Price of Property Acquired (Details) - Self Storage Properties	12 Months Ended
	Dec. 31, 2019USD ($)Property	Nov. 30, 2019Property
Real Estate Properties [Line Items]
Number of Properties | Property		1
Purchase Price	$ 6,282,514
Consideration Paid, Cash Paid	6,287,082
Consideration Paid, Net Other Liabilities Assumed (Assets Acquired)	(4,568)
Acquisition Date Fair Value, Land	628,251
Acquisition Date Fair Value, Building and Equipment	5,240,825
Acquisition Date Fair Value, In-Place Customer Leases	$ 413,438
NY
Real Estate Properties [Line Items]
Number of Properties | Property	1
Date of Acquisition	Nov. 19, 2019
Purchase Price	$ 6,282,514
Consideration Paid, Cash Paid	6,287,082
Consideration Paid, Net Other Liabilities Assumed (Assets Acquired)	(4,568)
Acquisition Date Fair Value, Land	628,251
Acquisition Date Fair Value, Building and Equipment	5,240,825
Acquisition Date Fair Value, In-Place Customer Leases	$ 413,438

Marketable Equity Securities -

Marketable Equity Securities - Schedule of Investments in Marketable Equity Securities (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Schedule Of Available For Sale Securities [Line Items]
Cost Basis	$ 755,487	$ 755,487
Gross Unrealized Gains	1,160,964	1,005,825
Value	1,916,451	1,761,312
Common Stock
Schedule Of Available For Sale Securities [Line Items]
Cost Basis	755,487	755,487
Gross Unrealized Gains	1,160,964	1,005,825
Value	$ 1,916,451	$ 1,761,312

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Carried at Fair Value Measured on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Assets
Total assets at fair value	$ 1,916,455	$ 1,761,363
Marketable Equity Securities
Assets
Total assets at fair value	1,916,451	1,761,312
Interest Rate Cap
Assets
Total assets at fair value	4	51
Level 1
Assets
Total assets at fair value	1,916,451	1,761,312
Level 1 | Marketable Equity Securities
Assets
Total assets at fair value	1,916,451	1,761,312
Level 2
Assets
Total assets at fair value	4	51
Level 2 | Interest Rate Cap
Assets
Total assets at fair value	$ 4	$ 51

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets transferred from level 1 to level 2	$ 0	$ 0
Fair value, re-measured on recurring basis using significant unobservable inputs , assets value	0	0
Fair value, re-measured on recurring basis using significant unobservable inputs , liabilities value	0	0
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Estimated fair value of debt	$ 24,596,649	$ 24,474,174

Derivatives - Summary of Terms

Derivatives - Summary of Terms of Derivative Financial Instrument (Details) - Cap Agreement - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Notional Amount	$ 7,500,000	$ 7,500,000
Effective Date	Dec. 24, 2018
Maturity Date	Dec. 20, 2021
Minimum
Derivative [Line Items]
Strike	3.50%
Maximum
Derivative [Line Items]
Strike	4.00%

Note Payable and Revolving Li_3

Note Payable and Revolving Line of Credit- Additional Information (Details) - USD ($)	Dec. 20, 2018	Jun. 24, 2016	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Borrowing principal amount			$ 18,847,475	$ 19,338,556
Loan procurement costs		$ 646,246	458,299	498,769
Amortization expense			199,797	200,819
Note payable, net book value			25,900,000
Line of credit, outstanding borrowings			5,144,000	4,914,000
Revolving Line of Credit
Debt Instrument [Line Items]
Amortization expense			159,327	159,327
Line of credit, issuance costs			477,981
Line of credit, outstanding borrowings			5,144,000	4,914,000
Promissory Note
Debt Instrument [Line Items]
Borrowing principal amount		$ 20,000,000
Debt instrument interest rate		4.192%
Debt instrument maturity date		Jul. 1, 2036
Amortization expense			$ 40,470	$ 41,492
Promissory Note | Revolving Line of Credit
Debt Instrument [Line Items]
Borrowing principal amount	$ 10,000,000
Debt instrument maturity date	Dec. 20, 2021
Promissory Note | Revolving Line of Credit | One Month London Inter-Bank Offered Rate
Debt Instrument [Line Items]
Debt instrument interest rate	3.00%

Note Payable and Revolving Li_4

Note Payable and Revolving Line of Credit - Carrying Value of Note Payable (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Jun. 24, 2016
Notes Payable [Abstract]
Principal balance outstanding	$ 18,847,475	$ 19,338,556
Less: Loan procurement costs, net	(458,299)	(498,769)	$ (646,246)
Total note payable, net	$ 18,389,176	$ 18,839,787

Note Payable and Revolving Li_5

Note Payable and Revolving Line of Credit- Future Principal Payment Requirements (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Notes Payable [Abstract]
2021	$ 513,857
2022	535,816
2023	558,714
2024	582,591
2025	607,488
2026 and thereafter	16,049,009
Total principal payments	$ 18,847,475	$ 19,338,556

Leases - Additional Information

Leases - Additional Information (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease right-of-use asset			$ 24,972	$ 37,700
Operating lease liability			$ 24,972	$ 37,700
Operating Lease, Liability, Statement of Financial Position [Extensible List]			us-gaap:OtherLiabilitiesMember	us-gaap:OtherLiabilitiesMember
Operating lease weighted average remaining lease term			2 years
Operating lease weighted average discount rate percent			4.78%
Future minimum lease payments	$ 11,878	$ 14,254

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Net income	$ 274,341	$ 590,619
Weighted average common shares outstanding:
Average number of common shares outstanding - basic	9,273,554	7,699,966
Net effect of dilutive unvested restricted stock awards included for treasury stock method	9,133	2,151
Average number of common shares outstanding - diluted	9,282,687	7,702,117
Earnings per common share
Basic	$ 0.03	$ 0.08
Diluted	$ 0.03	$ 0.08

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Common stock dividends	$ 2,427,401	$ 2,107,376
Common stock dividends per share	$ 0.26	$ 0.26

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($)	May 19, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Reimbursement of monthly automobile expenses			$ 1,000
Automobile reimbursement amount			$ 2,254	$ 3,228
Paycheck Protection Program Term Note ("PPP Note")
Related Party Transaction [Line Items]
Description of note			During the period from May 19, 2020 through the six-month anniversary of the date of the PPP Note (the “Deferral Expiration Date”), neither principal nor interest shall be due and payable. On the Deferral Expiration Date, the outstanding principal of the PPP Note or the amount that is not forgiven under the Program shall convert to an amortizing term loan. On May 19, 2022, all accrued interest that is not forgiven under the Program shall be due and payable. Additionally, on December 19, 2020 and continuing on the 19th day of each month thereafter until May 19, 2022 equal installments of principal shall be due and payable, each in an amount determined by the Lender (the “Monthly Principal Amount”). Interest shall be payable at the same time as the Monthly Principal Amount. Any outstanding principal and accrued interest shall be due and payable in full on May 19, 2022. The Company expects to contribute to the interest payable on the PPP Note in proportion to its share of payroll and other eligible costs used in the original calculation of the loan request.
Tuxis
Related Party Transaction [Line Items]
Payments to acquire property		$ 900,000
Winco
Related Party Transaction [Line Items]
Aggregate rent and overhead accrued expense paid			$ 73,823	77,850
MMC and Winco
Related Party Transaction [Line Items]
Reimbursements payable		$ 19,096	$ 18,902	19,096
PEO
Related Party Transaction [Line Items]
Termination of notice period			10 days
Rental income			$ 9,204	$ 9,204
PEO | Paycheck Protection Program Term Note ("PPP Note")
Related Party Transaction [Line Items]
Proceeds from Note	$ 486,602
Interest rate of note	1.00%
PEO | Global Self Storage, Inc
Related Party Transaction [Line Items]
Percentage ownership by affiliates			7.90%

Capital Stock - Additional Info

Capital Stock - Additional Information (Details) - USD ($)	Dec. 13, 2019	Nov. 18, 2019	Dec. 31, 2019	Dec. 31, 2020
Capital Stock [Line Items]
Common stock, shares authorized			450,000,000	450,000,000
Common stock, par value			$ 0.01	$ 0.01
Common stock, shares issued			9,330,297	9,343,118
Common stock, shares outstanding			9,330,297	9,343,118
Preferred stock, shares authorized			50,000,000	50,000,000
Preferred stock, par value			$ 0.01	$ 0.01
Preferred stock, shares issued (in series)				0
Issuance of common stock under rights offering, net of expenses	$ 6,280,987		$ 6,280,987
Rights offering, net, shares	1,601,291
Share issued price per share	$ 4.18
Maximum
Capital Stock [Line Items]
Rights offering to eligible common stockholders, amount		$ 11,600,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Oct. 16, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Recorded expense in general and administrative expense in its statement of operations related to restricted stock	$ 126,035	$ 102,989
Time-Based Restricted Stock Grants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, granted	10,880
Performance-Based Restricted Stock Grants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, granted	1,941
2017 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved and available for issuance			760,000
Recorded expense in general and administrative expense in its statement of operations related to restricted stock	$ 126,035	$ 102,989
2017 Equity Incentive Plan | Restricted Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, granted	25,905	28,755
2017 Equity Incentive Plan | Time-Based Restricted Stock Grants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, granted	10,880	13,730
Unrecognized share-based compensation cost related to unvested restricted stock awards	$ 131,119
Cost is expected to be recognized over a weighted average periods	1 year 10 months 24 days
Stock vested percentage	6.25%
Shares eligible vesting period	3 months
Vesting period	4 years
Share based compensation description	These time-based grants vest solely based on continued employment, with 6.25% of the shares eligible to vest on each three-month anniversary of the grant date during the four-year vesting period.
2017 Equity Incentive Plan | Performance-Based Restricted Stock Grants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, granted	15,025	15,025
Unrecognized share-based compensation cost related to unvested restricted stock awards	$ 76,771
Cost is expected to be recognized over a weighted average periods	2 years 3 months 18 days
Vesting period	4 years
Stock earned during the period	1,941	15,025
2017 Equity Incentive Plan | Performance-Based Restricted Stock Grants | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock vested percentage based on achievement of goal	0.00%
2017 Equity Incentive Plan | Performance-Based Restricted Stock Grants | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock vested percentage based on achievement of goal	200.00%

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Time Based Restricted Stock Grant Activity (Details) - Time-Based Restricted Stock Grants	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested Beginning, Stock | shares	39,932
Granted, Stock | shares	10,880
Vested, Stock | shares	(18,582)
Unvested Ending, Stock | shares	32,230
Unvested Beginning, Weighted-Average Grant-Date Fair Value | $ / shares	$ 4.31
Granted, Weighted-Average Grant-Date Fair Value | $ / shares	3.58
Vested, Weighted-Average Grant-Date Fair Value | $ / shares	4.26
Unvested Ending, Weighted-Average Grant-Date Fair Value | $ / shares	$ 4.10

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Performance Based Grant Activity (Details) - Performance-Based Restricted Stock Grants	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested Beginning, Stock | shares	27,739
Granted, Stock | shares	1,941
Vested, Stock | shares	(11,028)
Unvested Ending, Stock | shares	18,652
Unvested Beginning, Weighted-Average Grant-Date Fair Value | $ / shares	$ 4.21
Granted, Weighted-Average Grant-Date Fair Value | $ / shares	3.58
Vested, Weighted-Average Grant-Date Fair Value | $ / shares	4.23
Unvested Ending, Weighted-Average Grant-Date Fair Value | $ / shares	$ 4.13

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - Subsequent Event - $ / shares	Mar. 01, 2021	Mar. 25, 2021
Subsequent Event [Line Items]
Cash dividend declared	$ 0.065
Dividend declared date	Mar. 1, 2021
Dividend payable date	Mar. 31, 2021
Dividend record date	Mar. 15, 2021
2017 Equity Incentive Plan
Subsequent Event [Line Items]
Number of shares, granted		74,955
Remaining vesting period		4 years
2017 Equity Incentive Plan | Performance Based Grants
Subsequent Event [Line Items]
Number of shares, granted		15,025
2017 Equity Incentive Plan | Minimum
Subsequent Event [Line Items]
Stock vested percentage based on achievement of goal		0.00%
2017 Equity Incentive Plan | Maximum
Subsequent Event [Line Items]
Stock vested percentage based on achievement of goal		200.00%

Schedule III - Real Estate and

Schedule III - Real Estate and Related Depreciation (Details)	Dec. 31, 2019USD ($)ft²
Real Estate And Accumulated Depreciation [Line Items]
Square Footage | ft²	832,008
Initial cost, Land	$ 6,122,065
Initial cost, Buildings & Improvements	53,470,167
Costs Subsequent to Acquisition	6,211,205
Gross Carrying Amount, Land	6,122,065
Gross Carrying Amount, Buildings & Improvements	59,419,039
Total	65,541,104
Accumulated Depreciation	$ 6,264,236
Clinton, CT
Real Estate And Accumulated Depreciation [Line Items]
Square Footage | ft²	30,408	[1]
Initial cost, Land	$ 356,040	[1]
Initial cost, Buildings & Improvements	3,108,285	[1]
Costs Subsequent to Acquisition	14,197	[1]
Gross Carrying Amount, Land	356,040	[1]
Gross Carrying Amount, Buildings & Improvements	3,122,482	[1]
Total	3,478,522	[1]
Accumulated Depreciation	$ 309,989	[1]
Bolingbrook, IL
Real Estate And Accumulated Depreciation [Line Items]
Square Footage | ft²	113,700	[2]
Initial cost, Land	$ 633,914	[2]
Initial cost, Buildings & Improvements	5,491,409	[2]
Costs Subsequent to Acquisition	2,456,374	[2]
Gross Carrying Amount, Land	633,914	[2]
Gross Carrying Amount, Buildings & Improvements	7,947,783	[2]
Total	8,581,697	[2]
Accumulated Depreciation	$ 1,006,053	[2]
Dolton, IL
Real Estate And Accumulated Depreciation [Line Items]
Square Footage | ft²	86,590	[2]
Initial cost, Land	$ 614,413	[2]
Initial cost, Buildings & Improvements	5,227,313	[2]
Costs Subsequent to Acquisition	9,611	[2]
Gross Carrying Amount, Land	614,413	[2]
Gross Carrying Amount, Buildings & Improvements	5,236,924	[2]
Total	5,851,337	[2]
Accumulated Depreciation	$ 696,926	[2]
McCordsville, IN
Real Estate And Accumulated Depreciation [Line Items]
Square Footage | ft²	76,360	[1]
Initial cost, Land	$ 770,000	[1]
Initial cost, Buildings & Improvements	6,776,000	[1]
Costs Subsequent to Acquisition	474,336	[1]
Gross Carrying Amount, Land	770,000	[1]
Gross Carrying Amount, Buildings & Improvements	7,250,336	[1]
Total	8,020,336	[1]
Accumulated Depreciation	$ 732,035	[1]
Merrillville, IN
Real Estate And Accumulated Depreciation [Line Items]
Square Footage | ft²	80,570	[2]
Initial cost, Land	$ 597,229	[2]
Initial cost, Buildings & Improvements	5,104,011	[2]
Costs Subsequent to Acquisition	464,324	[2]
Gross Carrying Amount, Land	597,229	[2]
Gross Carrying Amount, Buildings & Improvements	5,568,335	[2]
Total	6,165,564	[2]
Accumulated Depreciation	$ 712,701	[2]
Millbrook, NY
Real Estate And Accumulated Depreciation [Line Items]
Square Footage | ft²	24,472	[1]
Initial cost, Land	$ 423,960	[1]
Initial cost, Buildings & Improvements	2,900,895	[1]
Costs Subsequent to Acquisition	2,343,125	[1]
Gross Carrying Amount, Land	423,960	[1]
Gross Carrying Amount, Buildings & Improvements	5,244,020	[1]
Total	5,667,980	[1]
Accumulated Depreciation	$ 330,581	[1]
Rochester, NY
Real Estate And Accumulated Depreciation [Line Items]
Square Footage | ft²	68,126	[2]
Initial cost, Land	$ 571,583	[2]
Initial cost, Buildings & Improvements	5,227,630	[2]
Costs Subsequent to Acquisition	22,503	[2]
Gross Carrying Amount, Land	571,583	[2]
Gross Carrying Amount, Buildings & Improvements	5,250,133	[2]
Total	5,821,716	[2]
Accumulated Depreciation	$ 656,730	[2]
Lima, OH
Real Estate And Accumulated Depreciation [Line Items]
Square Footage | ft²	98,055	[1]
Initial cost, Land	$ 530,000	[1]
Initial cost, Buildings & Improvements	4,664,000	[1]
Costs Subsequent to Acquisition	112,915	[1]
Gross Carrying Amount, Land	530,000	[1]
Gross Carrying Amount, Buildings & Improvements	4,776,915	[1]
Total	5,306,915	[1]
Accumulated Depreciation	$ 514,747	[1]
Sadsburyville, PA
Real Estate And Accumulated Depreciation [Line Items]
Square Footage | ft²	78,857	[2]
Initial cost, Land	$ 462,749	[2]
Initial cost, Buildings & Improvements	5,146,579	[2]
Costs Subsequent to Acquisition	28,362	[2]
Gross Carrying Amount, Land	462,749	[2]
Gross Carrying Amount, Buildings & Improvements	5,174,941	[2]
Total	5,637,690	[2]
Accumulated Depreciation	$ 687,125	[2]
West Henrietta, NY
Real Estate And Accumulated Depreciation [Line Items]
Square Footage | ft²	55,550	[1]
Initial cost, Land	$ 628,251	[1]
Initial cost, Buildings & Improvements	5,229,481	[1]
Costs Subsequent to Acquisition	262,333	[1]
Gross Carrying Amount, Land	628,251	[1]
Gross Carrying Amount, Buildings & Improvements	5,229,481	[1]
Total	5,857,732	[1]
Accumulated Depreciation	$ 32,148	[1]
SSG Summerville I LLC | Summerville, SC
Real Estate And Accumulated Depreciation [Line Items]
Square Footage | ft²	76,560	[2],[3]
Initial cost, Land	$ 345,160	[2]
Initial cost, Buildings & Improvements	2,989,159	[2]
Costs Subsequent to Acquisition	8,400	[2]
Gross Carrying Amount, Land	345,160	[2]
Gross Carrying Amount, Buildings & Improvements	2,997,559	[2]
Total	3,342,719	[2]
Accumulated Depreciation	$ 379,348	[2]
SSG Summerville II LLC | Summerville, SC
Real Estate And Accumulated Depreciation [Line Items]
Square Footage | ft²	42,760	[2],[4]
Initial cost, Land	$ 188,766	[2]
Initial cost, Buildings & Improvements	1,605,405	[2]
Costs Subsequent to Acquisition	14,725	[2]
Gross Carrying Amount, Land	188,766	[2]
Gross Carrying Amount, Buildings & Improvements	1,620,130	[2]
Total	1,808,896	[2]
Accumulated Depreciation	$ 205,853	[2]
[1]	This property is held as collateral under the Revolver with an outstanding balance of $5,144,000 as of December 31, 2020
[2]	This property is held as collateral under the Loan Agreement with an outstanding balance of $18,847,475 as of December 31, 2020.
[3]	SSG Summerville I LLC.
[4]	SSG Summerville II LLC

Schedule III - Real Estate an_2

Schedule III - Real Estate and Related Depreciation (Parenthetical) (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Real Estate And Accumulated Depreciation [Line Items]
Principal balance outstanding	$ 18,847,475	$ 19,338,556
Line of credit, outstanding borrowings	5,144,000	4,914,000
Revolving Line of Credit
Real Estate And Accumulated Depreciation [Line Items]
Line of credit, outstanding borrowings	$ 5,144,000	$ 4,914,000

Schedule III - Summary of Activ

Schedule III - Summary of Activity in Storage Properties (Details) - USD ($)		12 Months Ended
		Dec. 31, 2020		Dec. 31, 2019
Storage properties
Balance at beginning of period		$ 65,541,104
Balance at end of period				$ 65,541,104
Accumulated depreciation
Balance at beginning of period		(6,264,236)
Balance at end of period				(6,264,236)
Self Storage Properties
Storage properties
Balance at beginning of period	[1]	64,832,638		57,467,957
Acquisitions and improvements	[1]	1,607,345		7,364,681
Balance at end of period	[1]	66,439,983		64,832,638
Accumulated depreciation
Balance at beginning of period		(5,080,485)	[1]	(3,656,220)
Depreciation expense	[1]	(1,590,965)		(1,424,265)
Balance at end of period	[1]	(6,671,450)		(5,080,485)
Storage properties, net	[1]	$ 59,768,533		$ 59,752,153
[1]	These amounts include equipment that is housed at the Company’s properties and construction in progress which is excluded from Schedule III above.

Schedule III - Additional Infor

Schedule III - Additional Information (Details)	12 Months Ended
	Dec. 31, 2020USD ($)
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Aggregate cost of real estate for U.S. federal income tax purposes	$ 63,788,287