Presidio Property Trust (SQFT) 10-Q 5 Nov 20 2020 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Nov. 04, 2020
Document Information [Line Items]
Entity Central Index Key	0001080657
Entity Registrant Name	Presidio Property Trust, Inc.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-34049
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	33-0841255
Entity Address, Address Line One	4995 Murphy Canyon Road, Suite 300
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92123
City Area Code	760
Local Phone Number	471-8536
Title of 12(b) Security	Series A Common Stock
Trading Symbol	SQFT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		9,422,036

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Real estate assets and lease intangibles:
Land	$ 24,063,107	$ 24,490,342
Buildings and improvements	133,689,849	133,767,144
Tenant improvements	15,095,039	14,043,829
Lease intangibles	5,321,295	5,321,295
Real estate assets and lease intangibles held for investment, cost	178,169,290	177,622,610
Accumulated depreciation and amortization	(31,769,133)	(27,970,897)
Real estate assets and lease intangibles held for investment, net	146,400,157	149,651,713
Real estate assets held for sale, net	27,551,655	50,554,907
Real estate assets, net	173,951,812	200,206,620
Cash, cash equivalents and restricted cash	10,006,026	10,391,275
Deferred leasing costs, net	1,721,939	2,053,927
Goodwill	2,423,000	2,423,000
Other assets, net	3,715,172	5,709,586
TOTAL ASSETS	191,817,949	220,784,408
Liabilities:
Mortgage notes payable, net	107,114,310	109,795,546
Mortgage notes payable related to properties held for sale, net	16,422,504	32,597,446
Mortgage notes payable, total net	123,536,814	142,392,992
Note payable, net	8,424,574	12,238,692
Accounts payable and accrued liabilities	5,266,774	5,673,815
Accrued real estate taxes	1,972,841	2,987,601
Lease liability, net	108,743	560,188
Below-market leases, net	187,493	309,932
Total liabilities	139,497,239	164,163,220
Commitments and contingencies (Note 9)
Equity:
Additional paid-in capital	153,358,708	152,129,120
Dividends and accumulated losses	(117,815,335)	(113,037,144)
Total stockholders' equity before noncontrolling interest	35,632,593	39,180,794
Noncontrolling interest	16,688,117	17,440,394
Total equity	52,320,710	56,621,188
TOTAL LIABILITIES AND EQUITY	191,817,949	220,784,408
Common Class A [Member]
Equity:
Series A Common Stock, $0.01 par value, shares authorized: 100,000,000; 8,922,036 and 8,881,842 shares were both issued and outstanding at September 30, 2020 and December 31, 2019, respectively	$ 89,220	$ 88,818

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - Common Class A [Member] - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	8,922,036	8,881,842
Common stock, shares outstanding (in shares)	8,922,036	8,881,842

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues:
Rental income	$ 5,433,303	$ 6,677,145	$ 18,098,514	$ 20,371,900
Fees and other income	230,265	323,725	715,609	929,221
Total revenue	5,663,568	7,000,870	18,814,123	21,301,121
Costs and expenses:
Rental operating costs	2,108,621	2,533,064	6,489,547	7,822,616
General and administrative	1,366,380	1,451,873	3,996,696	4,632,244
Depreciation and amortization	1,626,917	1,755,253	4,823,673	5,714,446
Impairment of real estate assets	0	0	845,674	0
Total costs and expenses	5,101,918	5,740,190	16,155,590	18,169,306
Other income (expense):
Interest expense-Series B preferred stock	0	(924,538)	0	(2,200,262)
Interest and other income (expense), net	(12,270)	9,294	(10,865)	19,227
Gain on sales of real estate, net	332,714	4,853,186	656,975	6,243,819
Income tax expense	(122,602)	(338,713)	(257,602)	(611,952)
Total other income (expense), net	(1,946,118)	1,692,909	(6,582,654)	(2,216,838)
Net (loss) income	(1,384,468)	2,953,589	(3,924,121)	914,977
Less: (Loss) income attributable to noncontrolling interests	(363,777)	(416,725)	(854,070)	(1,366,104)
Net (loss) income attributable to Presidio Property Trust, Inc. common stockholders	$ (1,748,245)	$ 2,536,864	$ (4,778,191)	$ (451,127)
Basic (loss) income per common share (in dollars per share)	$ (0.20)	$ 0.29	$ (0.54)	$ (0.05)
Weighted average number of common shares outstanding - basic (in shares)	8,922,525	8,852,348	8,900,547	8,860,228
Diluted (loss) income per common share (in dollars per share)	$ (0.20)	$ 0.27	$ (0.54)	$ (0.05)
Weighted average number of common shares outstanding - diluted (in shares)	8,922,525	9,275,427	8,900,547	8,860,228
Mortgage Notes [Member]
Other income (expense):
Interest expense	$ (1,439,771)	$ (1,723,844)	$ (4,605,175)	$ (5,485,194)
Notes Payable [Member]
Other income (expense):
Interest expense	$ (704,189)	$ (182,476)	$ (2,365,987)	$ (182,476)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Parent [Member]	Noncontrolling Interest [Member]	Total
Balance (in shares) at Dec. 31, 2018	8,860,711
Balance at Dec. 31, 2018	$ 88,608	$ 151,670,625	$ (111,343,840)	$ 40,415,393	$ 15,725,650	$ 56,141,043
Net (loss) income	0	0	(1,728,392)	(1,728,392)	766,455	(961,937)
Distributions in excess of contributions received	$ 0	0	0	0	(258,708)	(258,708)
Repurchase of common stock (in shares)	(7,161)
Repurchase of common stock	$ (72)	(52,077)	0	(52,149)	0	(52,149)
Dividends	$ 0	0	(150)	(150)	0	(150)
Vesting of restricted stock (in shares)	13,424
Vesting of restricted stock	$ 134	230,749	0	230,883	0	230,883
Balance (in shares) at Mar. 31, 2019	8,866,974
Balance at Mar. 31, 2019	$ 88,670	151,849,297	(113,072,382)	38,865,585	16,233,397	55,098,982
Balance (in shares) at Dec. 31, 2018	8,860,711
Balance at Dec. 31, 2018	$ 88,608	151,670,625	(111,343,840)	40,415,393	15,725,650	56,141,043
Net (loss) income						914,977
Balance (in shares) at Sep. 30, 2019	8,845,189
Balance at Sep. 30, 2019	$ 88,452	151,685,879	(112,878,063)	38,896,268	16,463,292	55,359,560
Balance (in shares) at Mar. 31, 2019	8,866,974
Balance at Mar. 31, 2019	$ 88,670	151,849,297	(113,072,382)	38,865,585	16,233,397	55,098,982
Net (loss) income	0	0	(1,259,598)	(1,259,598)	182,924	(1,076,674)
Contributions received from noncontrolling interests, net of distributions paid	$ 0	0	0	0	195,178	195,178
Repurchase of common stock (in shares)	(9,085)
Repurchase of common stock	$ (91)	(68,043)	0	(68,134)	0	(68,134)
Dividends	$ 0	0	(1,082,947)	(1,082,947)	0	(1,082,947)
Balance (in shares) at Jun. 30, 2019	8,857,889
Balance at Jun. 30, 2019	$ 88,579	151,781,254	(115,414,927)	36,454,906	16,611,499	53,066,405
Net (loss) income	0	0	2,536,864	2,536,864	416,725	2,953,589
Distributions in excess of contributions received	$ 0	0	0	0	(564,932)	(564,932)
Repurchase of common stock (in shares)	(12,700)
Repurchase of common stock	$ (127)	(95,375)	0	(95,502)	0	(95,502)
Balance (in shares) at Sep. 30, 2019	8,845,189
Balance at Sep. 30, 2019	$ 88,452	151,685,879	(112,878,063)	38,896,268	16,463,292	55,359,560
Balance (in shares) at Dec. 31, 2019	8,881,842
Balance at Dec. 31, 2019	$ 88,818	152,129,120	(113,037,144)	39,180,794	17,440,394	56,621,188
Net (loss) income	0	0	(1,107,130)	(1,107,130)	175,011	(932,119)
Distributions in excess of contributions received	$ 0	0	0	0	(277,472)	(277,472)
Balance (in shares) at Mar. 31, 2020	8,881,842
Balance at Mar. 31, 2020	$ 88,818	152,129,120	(114,144,274)	38,073,664	17,337,933	55,411,597
Balance (in shares) at Dec. 31, 2019	8,881,842
Balance at Dec. 31, 2019	$ 88,818	152,129,120	(113,037,144)	39,180,794	17,440,394	56,621,188
Net (loss) income						(3,924,121)
Issuance of stock for Limited Partnership interests						59,274
Issuance of stock for Limited Partnership interests					(1,200,000)
Balance (in shares) at Sep. 30, 2020	8,922,036
Balance at Sep. 30, 2020	$ 89,220	153,358,708	(117,815,335)	35,632,593	16,688,117	52,320,710
Balance (in shares) at Mar. 31, 2020	8,881,842
Balance at Mar. 31, 2020	$ 88,818	152,129,120	(114,144,274)	38,073,664	17,337,933	55,411,597
Net (loss) income	0	0	(1,922,816)	(1,922,816)	315,282	(1,607,534)
Contributions received from noncontrolling interests, net of distributions paid	$ 0	0	0	0	66,697	66,697
Share reconciliation adjustment (in shares)	(16,080)
Share reconciliation adjustment	$ (162)	162	0	0	0	0
Issuance of stock for Limited Partnership interests (in shares)	59,274
Issuance of stock for Limited Partnership interests	$ 594	1,247,396	0	1,247,990		0
Issuance of stock for Limited Partnership interests					(1,247,990)
Balance (in shares) at Jun. 30, 2020	8,925,036
Balance at Jun. 30, 2020	$ 89,250	153,376,678	(116,067,090)	37,398,838	16,471,922	53,870,760
Net (loss) income	0		(1,748,245)	(1,748,245)	363,777	(1,384,468)
Distributions in excess of contributions received	$ 0	0	0	0	(147,582)	(147,582)
Repurchase of common stock (in shares)	(3,000)
Repurchase of common stock	$ (30)	(17,970)	0	(18,000)	0	(18,000)
Balance (in shares) at Sep. 30, 2020	8,922,036
Balance at Sep. 30, 2020	$ 89,220	$ 153,358,708	$ (117,815,335)	$ 35,632,593	$ 16,688,117	$ 52,320,710

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net (loss) income	$ (3,924,121)	$ 914,977
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	4,823,673	5,714,446
Stock compensation	541,865	809,127
Bad debt expense	93,958	19,088
Gain on sale of real estate assets, net	(656,975)	(6,243,819)
Impairment of real estate assets	845,674	0
Accretion of original issue discount	1,013,405	48,793
Amortization of financing costs	992,705	592,598
Amortization of above-market leases	38,012	42,796
Amortization of below-market leases	(122,439)	(140,777)
Straight-line rent adjustment	67,732	(26,590)
Changes in operating assets and liabilities:
Other assets	2,171,813	1,709,386
Accounts payable and accrued liabilities	(1,974,401)	(244,791)
Accrued real estate taxes	(1,014,760)	(817,366)
Net cash provided by operating activities	2,896,141	2,377,868
Cash flows from investing activities:
Real estate acquisitions	(8,996,248)	(6,116,035)
Additions to buildings and tenant improvements	(2,510,152)	(5,182,033)
Additions to deferred leasing costs	(137,961)	(661,401)
Proceeds from sales of real estate, net	33,810,274	29,211,836
Net cash provided by investing activities	22,165,913	17,252,367
Cash flows from financing activities:
Proceeds from mortgage notes payable, net of issuance costs	13,339,739	10,667,286
Repayment of mortgage notes payable	(32,399,522)	(20,723,326)
Repayment of note payable	(5,224,402)	0
Payment of extension costs, note payable	(351,025)	0
Redemption of mandatorily redeemable preferred stock	0	(16,900,000)
Payment of deferred offering costs	(435,736)	0
Distributions to noncontrolling interests, net of contributions	(358,357)	(628,462)
Repurchase of common stock	(18,000)	(215,206)
Dividends paid to stockholders	0	(2,158,467)
Net cash used in financing activities	(25,447,303)	(18,335,011)
Net (decrease) increase in cash equivalents and restricted cash	(385,249)	1,295,224
Cash, cash equivalents and restricted cash - beginning of period	10,391,275	9,776,215
Cash, cash equivalents and restricted cash - end of period	10,006,026	11,071,439
Supplemental disclosure of cash flow information:
Interest paid-Series B preferred stock	0	1,859,672
Interest paid-mortgage notes payable	4,542,959	4,792,830
Interest paid-notes payable	604,679	0
Non-cash financing activities:
Issuance of stock for limited partnership interests	1,247,990	0
Polar Multi-Strategy Master Fund [Member] | Notes Payable to Banks [Member]
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Amortization of financing costs	748,000
Cash flows from financing activities:
Proceeds from note payable, net of issuance cost of $1.1 million	0	11,623,164
Payment of extension costs, note payable	$ (351,000)
Payment of deferred offering costs		$ (1,100,000)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parentheticals)	9 Months Ended
	Sep. 30, 2019USD ($)
Payment of deferred offering costs	$ 0
Polar Multi-Strategy Master Fund [Member] | Notes Payable to Banks [Member]
Payment of deferred offering costs	$ (1,100,000)

Note 1 - Organization

Note 1 - Organization	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Organization January 28, 1999, August 4, 2010. October 2017, • Ten office buildings and one • Four retail shopping centers (“Retail Properties”) which total approximately 131,722 rentable square feet; and • 128 model home residential properties (“Model Homes” or “Model Home Properties”) leased back on a triple-net basis to homebuilders that are owned by six affiliated limited partnerships and one wholly-owned corporation. The Company or one • The Company is the sole general partner and a limited partner in two • The Company is the general and/or limited partner in six limited partnerships that purchase Model Homes and lease them back to homebuilders (Dubose Model Home Investors #202, #203, #204, #205, #206, The Company has determined that the limited partnerships in which it owns less than 100% We have elected to be taxed as a REIT under Sections 856 860 not We, together with one no Initial Public Offering October 6, 2020, Reverse Stock Split. July 29, 2020, one Liquidity. September 17, 2019 September 1, 2020, October 1, 2020 March 31, 2021 ( September 30, 2020 For the three 2020 December 31, 2021, December 31, 2020, may As the Company continues its operations, it may no not twelve

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. There have been no 10 December 31, 2019 December 31, 2019 10 March 13, 2020. Basis of Presentation. 10 8 X. three nine September 30, 2020 2019 not may December 31, 2020. 10 December 31, 2019 December 31, 2019 10 March 13, 2020. three nine September 30, 2020 not December 31, 2020 19” Principles of Consolidation. Use of Estimates. may Cash Equivalents and Restricted Cash. September 30, 2020 December 31, 2019 third Real Estate Held for Sale. real estate held for sale, net” for all prior periods presented in the accompanying condensed consolidated financial statements. As of September 30, 2020 Impairments of Real Estate Asset. Properties held for sale are recorded at the lower of the carrying amount or the expected sales price less costs to sell. Although our strategy is to hold our properties over the long-term, if our strategy changes or market conditions otherwise dictate an earlier sale date, an impairment loss may During the second 2020, second 2020 June 30, 2020. June 2020 Fair Value Measurements three one three • Level 1: • Level 2: not • Level 3: no When available, we utilize quoted market prices from independent third 1 2. not not third may third not not Changes in assumptions or estimation methodologies can have a material effect on these estimated fair values. In this regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, may not Subsequent Events. Recently Issued and Adopted Accounting Pronouncements. March 2020, No. 2020 04, Reference Rate Reform not December 31, 2022, March 2020 no In June 2017, No. 2016 13, Financial Instruments – Credit Losses, February 2020 No. 2020 02, Financial Instruments—Credit Losses (Topic 326 842 2016 13 2016 13 2016 13 December 15, 2019, 2020 02 December 15, 2022. not In August 2018, No. 2018 13, Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement 820. December 15, 2019 January 1, 2020 no

Note 3 - Recent Real Estate Tra

Note 3 - Recent Real Estate Transactions	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Real Estate Disclosure [Text Block]	3. During the nine September 30, 2020 • Centennial Tech Center, which was sold on February 5, 2020 • Union Terrace, which was sold on March 13, 2020 During the nine September 30, 2020 During the nine September 30, 2020 During the nine September 30, 2019 • Morena Office Center, which was sold on January 15, 2019 • Nightingale land was sold on May 8, 2019 • O n July 1, 2019, January 15, 2019. 1031 • The Presidio office building, which was sold on July 31, 2019 During the nine September 30, 2019 During the nine September 30, 2019

Note 4 - Real Estate Assets

Note 4 - Real Estate Assets	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Real Estate Assets [Text Block]	4. A summary of the properties owned by the Company as of September 30, 2020 Real estate Date assets, net Property Name Acquired Location (in thousands) Garden Gateway Plaza (1) March 2007 Colorado Springs, Colorado $ 11,439 World Plaza (1) September 2007 San Bernardino, California 9,272 Executive Office Park (2) July 2008 Colorado Springs, Colorado 7,581 Waterman Plaza (1) August 2008 San Bernardino, California 3,986 Genesis Plaza August 2010 San Diego, California 8,816 Dakota Center May 2011 Fargo, North Dakota 8,655 Grand Pacific Center March 2014 Bismarck, North Dakota 5,754 Arapahoe Center December 2014 Centennial, Colorado 9,362 Union Town Center December 2014 Colorado Springs, Colorado 9,414 West Fargo Industrial August 2015 West Fargo, North Dakota 7,079 300 N.P. August 2015 Fargo, North Dakota 3,308 Research Parkway August 2015 Colorado Springs, Colorado 2,454 One Park Center August 2015 Westminster, Colorado 8,701 Highland Court August 2015 Centennial, Colorado 10,992 Shea Center II December 2015 Highlands Ranch, Colorado 21,193 Presidio Property Trust, Inc. properties 128,006 Model Home properties (3) 2014 2020 AZ, FL, IL, PA, TX, WI 45,946 Total real estate assets and lease intangibles, net $ 173,952 ( 1 September 30, 2020 ( 2 September 30, 2020 ( 3 September 30, 2020 Geographic Diversification Tables The following tables show a list of commercial properties owned by the Company grouped by state and geographic region as of September 30, 2020 Aggregate Current Approximate % No. of Square Approximate % Base Annual of Aggregate State Properties Feet of Square Feet Rent Annual Rent California 3 134,787 11.9 % $ 1,782,207 12.3 % Colorado 8 597,912 52.9 % 9,183,486 63.4 % North Dakota 4 397,039 35.2 % 3,525,685 24.3 % Total 15 1,129,738 100.0 % $ 14,491,378 100.0 % The following tables show a list of our Model Home properties by geographic region as of September 30, 2020 Current Approximate No. of Aggregate Approximate % Base Annual of Aggregate Geographic Region Properties Square Feet of Square Feet Rent % Annual Rent Southwest 104 305,203 83.7 % $ 3,036,024 80.2 % Southeast 18 41,621 11.4 % 499,320 13.2 % Midwest 2 6,602 1.8 % 99,276 2.6 % East 2 5,255 1.4 % 70,716 1.9 % Northeast 2 6,153 1.7 % 80,844 2.1 % Total 128 364,834 100 % $ 3,786,180 100 %

Note 5 - Lease Intangibles

Note 5 - Lease Intangibles	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	5. The following table summarizes the net value of other intangible assets acquired and the accumulated amortization for each class of intangible asset: September 30, 2020 December 31, 2019 Lease Accumulated Lease Lease Accumulated Lease Intangibles Amortization Intangibles, net Intangibles Amortization Intangibles, net In-place leases $ 3,186,889 $ (2,740,785 ) $ 446,104 $ 4,360,027 $ (3,283,027 ) $ 1,077,000 Leasing costs 1,800,921 (1,542,960 ) 257,961 2,937,976 (2,002,711 ) 935,265 Above-market leases 333,485 (278,751 ) 54,734 333,485 (240,739 ) 92,746 $ 5,321,295 $ (4,562,496 ) $ 758,799 $ 7,631,488 $ (5,526,477 ) $ 2,105,011 As of September 30, 2020 December 31, 2019 The net value of acquired intangible liabilities was $187,000 and $310,000 relating to below-market leases as of September 30, 2020 December 31, 2019 Future aggregate approximate amortization expense for the Company's lease intangible assets is as follows: Three months remaining in 2020 $ 132,584 Years ending December 31: 2021 372,484 2022 202,479 2023 17,663 2024 17,663 Thereafter 15,926 Total $ 758,799 The weighted average remaining amortization period of the intangible assets as of September 30, 2020

Note 6 - Other Assets

Note 6 - Other Assets	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Other Assets Disclosure [Text Block]	6. Other assets consist of the following: September 30, December 31, 2020 2019 Deferred rent receivable $ 1,898,960 $ 2,680,886 Prepaid expenses, deposits and other 406,807 601,897 Accounts receivable, net 390,986 1,336,122 Right-of-use assets, net 108,826 561,375 Other intangibles, net 157,483 212,932 Notes receivable 316,374 316,374 Deferred offering costs 435,736 — Total other assets $ 3,715,172 $ 5,709,586

Note 7 - Mortgage Notes Payable

Note 7 - Mortgage Notes Payable	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Mortgage Notes Payable Disclosure [Text Block]	7. Mortgage notes payable consist of the following: Principal as of September 30, December 31, Loan Interest Mortgage note property Notes 2020 2019 Type Rate (1) Maturity Waterman Plaza (3) (7) $ 3,240,076 $ 3,274,097 Variable 4.25 % 4/29/2021 World Plaza (3) (4) 5,828,395 4,979,384 Variable 2.91 % 7/5/2021 Garden Gateway Plaza (3) 5,914,955 6,071,315 Fixed 5.00 % 8/5/2021 300 N.P. 2,283,380 2,311,739 Fixed 4.95 % 6/11/2022 Highland Court 6,312,739 6,424,366 Fixed 3.82 % 9/1/2022 Dakota Center 9,954,740 10,111,693 Fixed 4.74 % 7/6/2024 Union Terrace (2 ) — 6,240,396 Fixed 4.50 % 8/5/2024 Centennial Tech Center (2 ) — 9,561,652 Fixed 4.43 % 12/5/2024 Research Parkway 1,773,846 1,813,305 Fixed 3.94 % 1/5/2025 Arapahoe Service Center 7,971,736 8,085,727 Fixed 4.34 % 1/5/2025 Union Town Center 8,350,338 8,440,000 Fixed 4.28 % 1/5/2025 One Park Centre 6,411,646 6,487,532 Fixed 4.77 % 9/5/2025 Genesis Plaza 6,302,600 6,378,110 Fixed 4.71 % 9/6/2025 Shea Center II 17,727,500 17,727,500 Fixed 4.92 % 1/5/2026 Executive Office Park (3 ) 4,754,908 4,839,577 Fixed 4.83 % 6/1/2027 West Fargo Industrial 4,290,717 4,216,565 Fixed 3.27 % 8/5/2029 Grand Pacific Center (5 ) 3,767,027 3,851,962 Fixed 4.02 % 8/1/2037 Subtotal, Presidio Property Trust, Inc. Properties $ 94,884,603 $ 110,814,920 Model Home mortgage notes (3 ) 29,514,663 32,644,129 Fixed (6 ) 2020 2023 Mortgage Notes Payable $ 124,399,266 $ 143,459,049 Unamortized loan costs (862,452 ) (1,066,057 ) Mortgage Notes Payable, net $ 123,536,814 $ 142,392,992 ( 1 Interest rates as of September 30, 2020 ( 2 Centennial Tech Center and Union Terrace were sold on February 5, 2020 March 13, 2020, ( 3 Properties held for sale as of September 30, 2020 ( 4 Interest on this loan is ABR plus 0.75% and LIBOR plus 2.75%. For the nine September 30, 2020 ( 5 Interest rate is subject to reset on September 1, 2023. ( 6 Each model home has a stand-alone mortgage note at interest rates ranging from 2.50% to 5.63% per annum at September 30, 2020 ( 7 Interest on this loan resets annually at LIBOR plus 3.00%, with a floor of 4.25%. The Company is in compliance with all material conditions and covenants of its mortgage notes payable. Scheduled principal payments of mortgage notes payable were as follows as of September 30, 2020 Presidio Property Model Trust, Inc. Homes Total Principal Notes Payable Notes Payable Payments Three months remaining in 2020 $ 468,332 $ 1,112,728 $ 1,581,060 Years ending December 31: 2021 16,406,080 11,306,633 $ 27,712,713 2022 9,826,391 11,667,980 $ 21,494,371 2023 1,542,085 5,427,322 $ 6,969,407 2024 1,602,019 — $ 1,602,019 Thereafter 65,039,696 — 65,039,696 Total $ 94,884,603 $ 29,514,663 $ 124,399,266

Note 8 - Notes Payable

Note 8 - Notes Payable	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	8. On September 17, 2019, September 1, 2020, October 1, 2020 March 31, 2021, September 30, 2020, may not The principal balance of the Polar Note as of September 30, 2020 September 17, 2019 October 1, 2020. September 30, 2020 nine September 30, 2020 The Company incurred approximately $1.1 million in legal and underwriting costs related to the Polar Note transaction. These costs have been recorded as debt issuance costs on the accompanying condensed consolidated balance sheets as a direct deduction from the principal of the Note and were amortized over the original term of the Note. Amortization expense totaling approximately $748,000 was included in interest expenses for the nine September 30, 2020 4% September 30, 2020 Under the terms of the Polar Note, the Company is subject to certain financial covenants including maintaining a debt to property fair value ratio of no September 30, 2020 On April 22, 2020, 19 not no 2020 August 17, 2020 twelve 3.75% August 17, 2050. 19 On April 30, 2020, 19 eight two six June 5, 2020, 24 September 30, 2020

Note 9 - Commitments and Contin

Note 9 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	9. The Company is obligated under certain tenant leases to fund tenant improvements and the expansion of the underlying leased properties. Under various federal, state and local laws, ordinances and regulations relating to the protection of the environment, a current or previous owner or operator of real estate may may The Company believes that it is in compliance in all material respects with all federal, state and local ordinances and regulations regarding hazardous or toxic substances. Management is not no not The Company is involved from time to time in lawsuits and other disputes which arise in the ordinary course of business. As of September 30, 2020 not

Note 10 - Series B Mandatorily

Note 10 - Series B Mandatorily Redeemable Preferred Stock	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Financial Instruments Subject to Mandatory Redemption Disclosure [Text Block]	10. During the year ended December 31, 2019 September 30, 2020 December 31, 2019 nine September 30, 2019 three September 30, 2020 September 30, 2020 December 31, 2019

Note 11 - Stockholders' Equity

Note 11 - Stockholders' Equity	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	11. Preferred Stock. may one Common Stock. not not not one Cash Dividends. nine September 30, 2020 nine September 30, 2019 Partnership Interests. one 2016. five first During the nine September 30, 2020 two Dividend Reinvestment Plan. may thirty January 23, 2012, December 7, 2018 October 6, 2020 September 30, 2020 nine September 30, 2020 Stock-Based Compensation. three September 30, 2020 2019 nine September 30, 2020 2019

Note 12 - Segments

Note 12 - Segments	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	12. The Company’s reportable segments consist of three not 2. no The Company evaluates the performance of its segments based upon net operating income (“NOI”), which is a non-GAAP supplemental financial measure. The Company defines NOI for its segments as operating revenues (rental income, tenant reimbursements and other operating income) less property and related expenses (property operating expenses, real estate taxes, insurance, asset management fees, impairments and provision for bad debt). NOI excludes certain items that are not The following tables reconcile the Company’s segment activity to its results of operations and financial position as of and for the three nine September 30, 2020 For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Office/Industrial Properties: Rental, fees and other income $ 4,098,892 $ 5,137,114 $ 13,334,595 $ 16,087,363 Property and related expenses (1,813,950 ) (2,237,392 ) (5,539,320 ) (7,041,306 ) Net operating income, as defined 2,284,942 2,899,722 7,795,275 9,046,057 Model Home Properties: Rental, fees and other income 1,058,329 1,083,470 3,268,074 3,167,072 Property and related expenses (58,897 ) (42,258 ) (160,688 ) (140,866 ) Net operating income, as defined 999,432 1,041,212 3,107,386 3,026,206 Retail Properties: Rental, fees and other income 548,392 780,286 2,305,412 2,046,686 Property and related expenses (277,820 ) (253,414 ) (1,729,171 ) (640,444 ) Net operating (loss) income, as defined 270,572 526,872 576,241 1,406,242 Reconciliation to net loss: Total net operating income, as defined, for reportable segments 3,554,946 4,467,806 11,478,902 13,478,505 General and administrative expenses (1,366,380 ) (1,451,873 ) (3,996,696 ) (4,632,244 ) Depreciation and amortization (1,626,917 ) (1,755,253 ) (4,823,673 ) (5,714,446 ) Interest expense (2,143,960 ) (2,830,858 ) (6,971,162 ) (7,867,932 ) Other income (expense), net (12,270 ) 9,294 (10,865 ) 19,227 Income tax expense (122,602 ) (338,713 ) (257,602 ) (611,952 ) Gain on sale of real estate 332,715 4,853,186 656,975 6,243,819 Net loss $ (1,384,468 ) $ 2,953,589 $ (3,924,121 ) $ 914,977 September 30, December 31, Assets by Reportable Segment: 2020 2019 Office/Industrial Properties: Land, buildings and improvements, net (1) $ 102,805,132 $ 126,421,648 Total assets (2) $ 103,137,364 $ 131,180,612 Model Home Properties: Land, buildings and improvements, net (1) $ 45,945,657 $ 48,466,371 Total assets (2) $ 45,235,619 $ 51,389,400 Retail Properties: Land, buildings and improvements, net (1) $ 25,125,813 $ 25,318,601 Total assets (2) $ 26,449,473 $ 26,588,254 Reconciliation to Total Assets: Total assets for reportable segments $ 174,822,456 $ 209,158,266 Other unallocated assets: Cash, cash equivalents and restricted cash 1,913,279 1,591,041 Other assets, net 15,082,214 10,035,101 Total Assets $ 191,817,949 $ 220,784,408 ( 1 Includes lease intangibles and the land purchase option related to property acquisitions. ( 2 Includes land, buildings and improvements, cash, cash equivalents, and restricted cash, current receivables, deferred rent receivables and deferred leasing costs and other related intangible assets, all shown on a net basis. For the Nine Months Ended September 30, Capital Expenditures by Reportable Segment 2020 2019 Office/Industrial Properties: Capital expenditures and tenant improvements $ 2,501,075 $ 5,161,786 Model Home Properties: Acquisition of operating properties 8,996,248 6,116,035 Retail Properties: Capital expenditures and tenant improvements 9,077 20,247 Totals: Acquisition of operating properties, net 8,996,248 6,116,035 Capital expenditures and tenant improvements 2,510,152 5,182,033 Total real estate investments $ 11,506,400 $ 11,298,068

Note 13 - Subsequent Events

Note 13 - Subsequent Events	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	13. Dividend On November 3, 2020, November 30, 2020 November 23, 2020.

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation. 10 8 X. three nine September 30, 2020 2019 not may December 31, 2020. 10 December 31, 2019 December 31, 2019 10 March 13, 2020. three nine September 30, 2020 not December 31, 2020 19”
Consolidation, Policy [Policy Text Block]	Principles of Consolidation.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates. may
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Cash Equivalents and Restricted Cash. September 30, 2020 December 31, 2019 third
Real Estate Held for Development and Sale, Policy [Policy Text Block]	Real Estate Held for Sale. real estate held for sale, net” for all prior periods presented in the accompanying condensed consolidated financial statements. As of September 30, 2020
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairments of Real Estate Asset. Properties held for sale are recorded at the lower of the carrying amount or the expected sales price less costs to sell. Although our strategy is to hold our properties over the long-term, if our strategy changes or market conditions otherwise dictate an earlier sale date, an impairment loss may During the second 2020, second 2020 June 30, 2020. June 2020
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements three one three • Level 1: • Level 2: not • Level 3: no When available, we utilize quoted market prices from independent third 1 2. not not third may third not not Changes in assumptions or estimation methodologies can have a material effect on these estimated fair values. In this regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, may not
Subsequent Events, Policy [Policy Text Block]	Subsequent Events.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued and Adopted Accounting Pronouncements. March 2020, No. 2020 04, Reference Rate Reform not December 31, 2022, March 2020 no In June 2017, No. 2016 13, Financial Instruments – Credit Losses, February 2020 No. 2020 02, Financial Instruments—Credit Losses (Topic 326 842 2016 13 2016 13 2016 13 December 15, 2019, 2020 02 December 15, 2022. not In August 2018, No. 2018 13, Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement 820. December 15, 2019 January 1, 2020 no

Note 4 - Real Estate Assets (Ta

Note 4 - Real Estate Assets (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Real Estate Properties [Table Text Block]	Real estate Date assets, net Property Name Acquired Location (in thousands) Garden Gateway Plaza (1) March 2007 Colorado Springs, Colorado $ 11,439 World Plaza (1) September 2007 San Bernardino, California 9,272 Executive Office Park (2) July 2008 Colorado Springs, Colorado 7,581 Waterman Plaza (1) August 2008 San Bernardino, California 3,986 Genesis Plaza August 2010 San Diego, California 8,816 Dakota Center May 2011 Fargo, North Dakota 8,655 Grand Pacific Center March 2014 Bismarck, North Dakota 5,754 Arapahoe Center December 2014 Centennial, Colorado 9,362 Union Town Center December 2014 Colorado Springs, Colorado 9,414 West Fargo Industrial August 2015 West Fargo, North Dakota 7,079 300 N.P. August 2015 Fargo, North Dakota 3,308 Research Parkway August 2015 Colorado Springs, Colorado 2,454 One Park Center August 2015 Westminster, Colorado 8,701 Highland Court August 2015 Centennial, Colorado 10,992 Shea Center II December 2015 Highlands Ranch, Colorado 21,193 Presidio Property Trust, Inc. properties 128,006 Model Home properties (3) 2014 2020 AZ, FL, IL, PA, TX, WI 45,946 Total real estate assets and lease intangibles, net $ 173,952
Schedule of Geographic Locations of Real Estate Properties [Table Text Block]	Aggregate Current Approximate % No. of Square Approximate % Base Annual of Aggregate State Properties Feet of Square Feet Rent Annual Rent California 3 134,787 11.9 % $ 1,782,207 12.3 % Colorado 8 597,912 52.9 % 9,183,486 63.4 % North Dakota 4 397,039 35.2 % 3,525,685 24.3 % Total 15 1,129,738 100.0 % $ 14,491,378 100.0 % Current Approximate No. of Aggregate Approximate % Base Annual of Aggregate Geographic Region Properties Square Feet of Square Feet Rent % Annual Rent Southwest 104 305,203 83.7 % $ 3,036,024 80.2 % Southeast 18 41,621 11.4 % 499,320 13.2 % Midwest 2 6,602 1.8 % 99,276 2.6 % East 2 5,255 1.4 % 70,716 1.9 % Northeast 2 6,153 1.7 % 80,844 2.1 % Total 128 364,834 100 % $ 3,786,180 100 %

Note 5 - Lease Intangibles (Tab

Note 5 - Lease Intangibles (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	September 30, 2020 December 31, 2019 Lease Accumulated Lease Lease Accumulated Lease Intangibles Amortization Intangibles, net Intangibles Amortization Intangibles, net In-place leases $ 3,186,889 $ (2,740,785 ) $ 446,104 $ 4,360,027 $ (3,283,027 ) $ 1,077,000 Leasing costs 1,800,921 (1,542,960 ) 257,961 2,937,976 (2,002,711 ) 935,265 Above-market leases 333,485 (278,751 ) 54,734 333,485 (240,739 ) 92,746 $ 5,321,295 $ (4,562,496 ) $ 758,799 $ 7,631,488 $ (5,526,477 ) $ 2,105,011
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Three months remaining in 2020 $ 132,584 Years ending December 31: 2021 372,484 2022 202,479 2023 17,663 2024 17,663 Thereafter 15,926 Total $ 758,799

Note 6 - Other Assets (Tables)

Note 6 - Other Assets (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Other Assets [Table Text Block]	September 30, December 31, 2020 2019 Deferred rent receivable $ 1,898,960 $ 2,680,886 Prepaid expenses, deposits and other 406,807 601,897 Accounts receivable, net 390,986 1,336,122 Right-of-use assets, net 108,826 561,375 Other intangibles, net 157,483 212,932 Notes receivable 316,374 316,374 Deferred offering costs 435,736 — Total other assets $ 3,715,172 $ 5,709,586

Note 7 - Mortgage Notes Payab_2

Note 7 - Mortgage Notes Payable (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Debt [Table Text Block]	Principal as of September 30, December 31, Loan Interest Mortgage note property Notes 2020 2019 Type Rate (1) Maturity Waterman Plaza (3) (7) $ 3,240,076 $ 3,274,097 Variable 4.25 % 4/29/2021 World Plaza (3) (4) 5,828,395 4,979,384 Variable 2.91 % 7/5/2021 Garden Gateway Plaza (3) 5,914,955 6,071,315 Fixed 5.00 % 8/5/2021 300 N.P. 2,283,380 2,311,739 Fixed 4.95 % 6/11/2022 Highland Court 6,312,739 6,424,366 Fixed 3.82 % 9/1/2022 Dakota Center 9,954,740 10,111,693 Fixed 4.74 % 7/6/2024 Union Terrace (2 ) — 6,240,396 Fixed 4.50 % 8/5/2024 Centennial Tech Center (2 ) — 9,561,652 Fixed 4.43 % 12/5/2024 Research Parkway 1,773,846 1,813,305 Fixed 3.94 % 1/5/2025 Arapahoe Service Center 7,971,736 8,085,727 Fixed 4.34 % 1/5/2025 Union Town Center 8,350,338 8,440,000 Fixed 4.28 % 1/5/2025 One Park Centre 6,411,646 6,487,532 Fixed 4.77 % 9/5/2025 Genesis Plaza 6,302,600 6,378,110 Fixed 4.71 % 9/6/2025 Shea Center II 17,727,500 17,727,500 Fixed 4.92 % 1/5/2026 Executive Office Park (3 ) 4,754,908 4,839,577 Fixed 4.83 % 6/1/2027 West Fargo Industrial 4,290,717 4,216,565 Fixed 3.27 % 8/5/2029 Grand Pacific Center (5 ) 3,767,027 3,851,962 Fixed 4.02 % 8/1/2037 Subtotal, Presidio Property Trust, Inc. Properties $ 94,884,603 $ 110,814,920 Model Home mortgage notes (3 ) 29,514,663 32,644,129 Fixed (6 ) 2020 2023 Mortgage Notes Payable $ 124,399,266 $ 143,459,049 Unamortized loan costs (862,452 ) (1,066,057 ) Mortgage Notes Payable, net $ 123,536,814 $ 142,392,992
Contractual Obligation, Fiscal Year Maturity [Table Text Block]	Presidio Property Model Trust, Inc. Homes Total Principal Notes Payable Notes Payable Payments Three months remaining in 2020 $ 468,332 $ 1,112,728 $ 1,581,060 Years ending December 31: 2021 16,406,080 11,306,633 $ 27,712,713 2022 9,826,391 11,667,980 $ 21,494,371 2023 1,542,085 5,427,322 $ 6,969,407 2024 1,602,019 — $ 1,602,019 Thereafter 65,039,696 — 65,039,696 Total $ 94,884,603 $ 29,514,663 $ 124,399,266

Note 12 - Segments (Tables)

Note 12 - Segments (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Office/Industrial Properties: Rental, fees and other income $ 4,098,892 $ 5,137,114 $ 13,334,595 $ 16,087,363 Property and related expenses (1,813,950 ) (2,237,392 ) (5,539,320 ) (7,041,306 ) Net operating income, as defined 2,284,942 2,899,722 7,795,275 9,046,057 Model Home Properties: Rental, fees and other income 1,058,329 1,083,470 3,268,074 3,167,072 Property and related expenses (58,897 ) (42,258 ) (160,688 ) (140,866 ) Net operating income, as defined 999,432 1,041,212 3,107,386 3,026,206 Retail Properties: Rental, fees and other income 548,392 780,286 2,305,412 2,046,686 Property and related expenses (277,820 ) (253,414 ) (1,729,171 ) (640,444 ) Net operating (loss) income, as defined 270,572 526,872 576,241 1,406,242 Reconciliation to net loss: Total net operating income, as defined, for reportable segments 3,554,946 4,467,806 11,478,902 13,478,505 General and administrative expenses (1,366,380 ) (1,451,873 ) (3,996,696 ) (4,632,244 ) Depreciation and amortization (1,626,917 ) (1,755,253 ) (4,823,673 ) (5,714,446 ) Interest expense (2,143,960 ) (2,830,858 ) (6,971,162 ) (7,867,932 ) Other income (expense), net (12,270 ) 9,294 (10,865 ) 19,227 Income tax expense (122,602 ) (338,713 ) (257,602 ) (611,952 ) Gain on sale of real estate 332,715 4,853,186 656,975 6,243,819 Net loss $ (1,384,468 ) $ 2,953,589 $ (3,924,121 ) $ 914,977
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	September 30, December 31, Assets by Reportable Segment: 2020 2019 Office/Industrial Properties: Land, buildings and improvements, net (1) $ 102,805,132 $ 126,421,648 Total assets (2) $ 103,137,364 $ 131,180,612 Model Home Properties: Land, buildings and improvements, net (1) $ 45,945,657 $ 48,466,371 Total assets (2) $ 45,235,619 $ 51,389,400 Retail Properties: Land, buildings and improvements, net (1) $ 25,125,813 $ 25,318,601 Total assets (2) $ 26,449,473 $ 26,588,254 Reconciliation to Total Assets: Total assets for reportable segments $ 174,822,456 $ 209,158,266 Other unallocated assets: Cash, cash equivalents and restricted cash 1,913,279 1,591,041 Other assets, net 15,082,214 10,035,101 Total Assets $ 191,817,949 $ 220,784,408
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block]	For the Nine Months Ended September 30, Capital Expenditures by Reportable Segment 2020 2019 Office/Industrial Properties: Capital expenditures and tenant improvements $ 2,501,075 $ 5,161,786 Model Home Properties: Acquisition of operating properties 8,996,248 6,116,035 Retail Properties: Capital expenditures and tenant improvements 9,077 20,247 Totals: Acquisition of operating properties, net 8,996,248 6,116,035 Capital expenditures and tenant improvements 2,510,152 5,182,033 Total real estate investments $ 11,506,400 $ 11,298,068

Note 1 - Organization (Details

Note 1 - Organization (Details Textual)	Oct. 06, 2020USD ($)$ / sharesshares	Jul. 29, 2020	Sep. 30, 2020USD ($)ft²	Dec. 31, 2016	Sep. 01, 2020USD ($)	Sep. 17, 2019USD ($)	Jan. 23, 2012$ / shares
Area of Real Estate Property (Square Foot) | ft²			364,834
Number of Real Estate Properties			128
Number of Limited Partnerships in which Company is Sole General Partner				1
Number of Limited Liability Companies				4
Percentage of Distributed Taxable Income to Qualify as REIT			90.00%
Shares Issued, Price Per Share (in dollars per share) | $ / shares							$ 19
Long-Term Debt, Maturity, Remainder of Fiscal Year			$ 1,581,060
Long-Term Debt, Maturity, Year One			$ 27,712,713
Commercial Property [Member]
Area of Real Estate Property (Square Foot) | ft²			1,129,738
Number of Real Estate Properties			15
Mortgage Notes [Member]
Long-Term Debt, Maturity, Remainder of Fiscal Year			$ 1,600,000
Long-Term Debt, Maturity, Year One			27,700,000
Mortgage Notes [Member] | Model Home Properties [Member]
Long-Term Debt, Maturity, Remainder of Fiscal Year			1,100,000
Mortgage Notes [Member] | Commercial Property [Member]
Long-Term Debt, Maturity, Remainder of Fiscal Year			468,000
Polar Multi-Strategy Master Fund [Member] | Notes Payable to Banks [Member]
Debt Instrument, Face Amount						$ 14,000,000
Debt Instrument, Interest Rate, Stated Percentage						8.00%
Long-term Debt, Total			$ 8,800,000		$ 8,800,000
Debt Instrument, Renewal Fee Percentage						4.00%
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio		2
IPO [Member] | Subsequent Event [Member]
Stock Issued During Period, Shares, New Issues (in shares) | shares	500,000
Shares Issued, Price Per Share (in dollars per share) | $ / shares	$ 5
Proceeds from Issuance of Common Stock	$ 2,300,000
IPO [Member] | Subsequent Event [Member] | Underwriting Discounts [Member]
Payments of Stock Issuance Costs	200,000
IPO [Member] | Subsequent Event [Member] | Other Expenses [Member]
Payments of Stock Issuance Costs	$ 775,000
Office/Industrial Properties [Member]
Area of Real Estate Property (Square Foot) | ft²			998,016
Retail Properties [Member]
Area of Real Estate Property (Square Foot) | ft²			131,722
Model Home Properties [Member]
Number of Real Estate Properties			128
Number of Limited Partnerships in which Company is Sole General Partner			6
Number of Limited Liability Companies			1

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies (Details Textual)	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Cash Equivalents, at Carrying Value, Total	$ 6,800,000			$ 6,800,000		$ 5,700,000
Restricted Cash, Total	$ 3,200,000			$ 3,200,000		$ 4,700,000
Number of Real Estate Properties Held for Sale	4			4
Number of Real Estate Properties	128			128
Impairment of Real Estate	$ 0	$ 0		$ 845,674	$ 0
Executive Park [Member]
Number of Real Estate Properties Held for Sale	1			1
Number of Real Estate Properties	4			4
Model Home [Member]
Number of Real Estate Properties Held for Sale	1			1
Number of Real Estate Properties	25	18		25	18
Waterman Plaza [Member]
Impairment of Real Estate			$ 845,000

Note 3 - Recent Real Estate T_2

Note 3 - Recent Real Estate Transactions (Details Textual)	Mar. 13, 2020USD ($)	Feb. 05, 2020USD ($)	Jul. 31, 2019USD ($)	Jul. 01, 2019USD ($)	May 08, 2019USD ($)	Jan. 15, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Number of Real Estate Properties							128
Notes Payable, Total							$ 8,424,574		$ 12,238,692
Centennial Tech Center [Member] | Discontinued Operations, Disposed of by Sale [Member]
Proceeds from Sale of Real Estate, Total		$ 15,000,000
Gain (Loss) on Sale of Properties		$ (913,000)
Union Terrace [Member] | Discontinued Operations, Disposed of by Sale [Member]
Proceeds from Sale of Real Estate, Total	$ 11,300,000
Gain (Loss) on Sale of Properties	$ 688,000
Model Home [Member]
Number of Real Estate Properties							25	18
Real Estate Property, Consideration Transferred, Total							$ 9,000,000	$ 6,100,000
Payments to Acquire Residential Real Estate							2,700,000	1,800,000
Model Home [Member] | Mortgage Notes [Member]
Notes Payable, Total							6,300,000	4,300,000
Model Home [Member] | Discontinued Operations, Disposed of by Sale [Member]
Proceeds from Sale of Real Estate, Total							12,600,000	12,400,000
Gain (Loss) on Sale of Properties							$ 894,000	$ 1,000,000
Number of Real Estate Properties							33	35
Morena Office Center [Member] | Discontinued Operations, Disposed of by Sale [Member]
Proceeds from Sale of Real Estate, Total						$ 5,600,000
Gain (Loss) on Sale of Properties						$ 700,000
Nightingale Land [Member] | Discontinued Operations, Disposed of by Sale [Member]
Proceeds from Sale of Real Estate, Total					$ 875,000
Gain (Loss) on Sale of Properties					$ (93,000)
Genesis Plaza [Member] | Discontinued Operations, Disposed of by Sale [Member]
Proceeds from Sale of Real Estate, Total				$ 2,900,000
Sale of Percentage Interest in Real Estate Property				43.00%
Sale of Real Estate Property				$ 5,600,000
The Presidio [Member] | Discontinued Operations, Disposed of by Sale [Member]
Proceeds from Sale of Real Estate, Total			$ 12,300,000
Gain (Loss) on Sale of Properties			$ 4,500,000

Note 4 - Real Estate Assets (De

Note 4 - Real Estate Assets (Details Textual)	Sep. 30, 2020	Sep. 30, 2019
Number of Real Estate Properties	128
Number of Real Estate Properties Held for Sale	4
Executive Office Park [Member]
Number of Real Estate Properties	4
Number of Real Estate Properties Held for Sale	1
Model Home [Member]
Number of Real Estate Properties	25	18
Number of Real Estate Properties Held for Sale	1

Note 4 - Real Estate Assets - S

Note 4 - Real Estate Assets - Summary of Properties Owned (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Real estate assets owned	$ 173,952
Garden Gateway Plaza [Member]
Geographic location	Colorado Springs, Colorado	[1]
Real estate assets owned	$ 11,439	[1]
World Plaza [Member]
Geographic location	San Bernardino, California	[1]
Real estate assets owned	$ 9,272	[1]
Executive Office Park [Member]
Geographic location	Colorado Springs, Colorado	[2]
Real estate assets owned	$ 7,581	[2]
Waterman Plaza [Member]
Geographic location	San Bernardino, California	[1]
Real estate assets owned	$ 3,986	[1]
Genesis Plaza [Member]
Geographic location	San Diego, California
Real estate assets owned	$ 8,816
Dakota Center [Member]
Geographic location	Fargo, North Dakota
Real estate assets owned	$ 8,655
Grand Pacific Center [Member]
Geographic location	Bismarck, North Dakota
Real estate assets owned	$ 5,754
Arapahoe Center [Member]
Geographic location	Centennial, Colorado
Real estate assets owned	$ 9,362
Union Town Center [Member]
Geographic location	Colorado Springs, Colorado
Real estate assets owned	$ 9,414
West Fargo Industrial [Member]
Geographic location	West Fargo, North Dakota
Real estate assets owned	$ 7,079
The 300 N.P [Member]
Geographic location	Fargo, North Dakota
Real estate assets owned	$ 3,308
Research Parkway [Member]
Geographic location	Colorado Springs, Colorado
Real estate assets owned	$ 2,454
One Park Centre [Member]
Geographic location	Westminster, Colorado
Real estate assets owned	$ 8,701
Highland Court [Member]
Geographic location	Centennial, Colorado
Real estate assets owned	$ 10,992
Shea Center II [Member]
Geographic location	Highlands Ranch, Colorado
Real estate assets owned	$ 21,193
Presidio Property Trust, Inc. Properties [Member]
Real estate assets owned	128,006
Model Home Properties [Member]
Real estate assets owned	$ 45,946	[3]
[1]	Properties held for sale as of September 30, 2020.
[2]	This property comprises four buildings, one of which is held for sale as of September 30, 2020
[3]	Includes one Model Home listed as held for sale as of September 30, 2020.

Note 4 - Real Estate Assets - G

Note 4 - Real Estate Assets - Geographic Diversification Tables (Details)	9 Months Ended
	Sep. 30, 2020USD ($)ft²
Number of properties	128
Aggregate Square Feet (Square Foot) | ft²	364,834
Approximate % of Square Feet	100.00%
Current Base Annual Rent | $	$ 3,786,180
Approximate of Aggregate % Annual Rent	100.00%
Commercial Property [Member]
Number of properties	15
Aggregate Square Feet (Square Foot) | ft²	1,129,738
Approximate % of Square Feet	100.00%
Current Base Annual Rent | $	$ 14,491,378
Approximate of Aggregate % Annual Rent	100.00%
CALIFORNIA | Commercial Property [Member]
Number of properties	3
Aggregate Square Feet (Square Foot) | ft²	134,787
Approximate % of Square Feet	11.90%
Current Base Annual Rent | $	$ 1,782,207
Approximate of Aggregate % Annual Rent	12.30%
Southwest [Member] | Model Home Properties [Member]
Number of properties	104
Aggregate Square Feet (Square Foot) | ft²	305,203
Approximate % of Square Feet	83.70%
Current Base Annual Rent | $	$ 3,036,024
Approximate of Aggregate % Annual Rent	80.20%
COLORADO | Commercial Property [Member]
Number of properties	8
Aggregate Square Feet (Square Foot) | ft²	597,912
Approximate % of Square Feet	52.90%
Current Base Annual Rent | $	$ 9,183,486
Approximate of Aggregate % Annual Rent	63.40%
Southeast [Member] | Model Home Properties [Member]
Number of properties	18
Aggregate Square Feet (Square Foot) | ft²	41,621
Approximate % of Square Feet	11.40%
Current Base Annual Rent | $	$ 499,320
Approximate of Aggregate % Annual Rent	13.20%
NORTH DAKOTA | Commercial Property [Member]
Number of properties	4
Aggregate Square Feet (Square Foot) | ft²	397,039
Approximate % of Square Feet	35.20%
Current Base Annual Rent | $	$ 3,525,685
Approximate of Aggregate % Annual Rent	24.30%
Midwest [Member] | Model Home Properties [Member]
Number of properties	2
Aggregate Square Feet (Square Foot) | ft²	6,602
Approximate % of Square Feet	1.80%
Current Base Annual Rent | $	$ 99,276
Approximate of Aggregate % Annual Rent	2.60%
East [Member] | Model Home Properties [Member]
Number of properties	2
Aggregate Square Feet (Square Foot) | ft²	5,255
Approximate % of Square Feet	1.40%
Current Base Annual Rent | $	$ 70,716
Approximate of Aggregate % Annual Rent	1.90%
Northeast [Member] | Model Home Properties [Member]
Number of properties	2
Aggregate Square Feet (Square Foot) | ft²	6,153
Approximate % of Square Feet	1.70%
Current Base Annual Rent | $	$ 80,844
Approximate of Aggregate % Annual Rent	2.10%

Note 5 - Lease Intangibles (Det

Note 5 - Lease Intangibles (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets, Gross, Total	$ 5,321,295	$ 7,631,488
Finite-Lived Intangible Assets, Accumulated Amortization	4,562,496	5,526,477
Below Market Lease, Net, Ending Balance	$ 187,493	309,932
Weighted Average [Member]
Finite-Lived Intangible Assets, Remaining Amortization Period (Year)	1 year 7 months 6 days
Real Estate Assets Held for Sale [Member]
Finite-Lived Intangible Assets, Gross, Total	$ 0	2,300,000
Finite-Lived Intangible Assets, Accumulated Amortization		$ 1,400,000

Note 5 - Lease Intangibles - Ne

Note 5 - Lease Intangibles - Net Value of Other Intangibles (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Lease intangibles, gross	$ 5,321,295	$ 7,631,488
Accumulated Amortization	(4,562,496)	(5,526,477)
Lease Intangibles, net	758,799	2,105,011
Leases, Acquired-in-Place [Member]
Lease intangibles, gross	3,186,889	4,360,027
Accumulated Amortization	(2,740,785)	(3,283,027)
Lease Intangibles, net	446,104	1,077,000
Leasing Costs [Member]
Lease intangibles, gross	1,800,921	2,937,976
Accumulated Amortization	(1,542,960)	(2,002,711)
Lease Intangibles, net	257,961	935,265
Above Market Lease [Member]
Lease intangibles, gross	333,485	333,485
Accumulated Amortization	(278,751)	(240,739)
Lease Intangibles, net	$ 54,734	$ 92,746

Note 5 - Lease Intangibles - Am

Note 5 - Lease Intangibles - Amortization Expense (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Three months remaining in 2020	$ 132,584
2021	372,484
2022	202,479
2023	17,663
2024	17,663
Thereafter	15,926
Total	$ 758,799	$ 2,105,011

Note 6 - Other Assets - Other A

Note 6 - Other Assets - Other Assets (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Total other assets	$ 3,715,172	$ 5,709,586
Other Assets [Member]
Deferred rent receivable	1,898,960	2,680,886
Prepaid expenses, deposits and other	406,807	601,897
Accounts receivable, net	390,986	1,336,122
Right-of-use assets, net	108,826	561,375
Other intangibles, net	157,483	212,932
Notes receivable	316,374	316,374
Deferred offering costs	435,736	0
Total other assets	$ 3,715,172	$ 5,709,586

Note 7 - Mortgage Notes Payab_3

Note 7 - Mortgage Notes Payable (Details Textual)		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019
Number of Real Estate Properties Held for Sale		4
Number of Real Estate Properties		128
Executive Office Park [Member]
Number of Real Estate Properties Held for Sale		1
Number of Real Estate Properties		4
Executive Office Park [Member] | Mortgage Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	[1],[2]	4.83%
Model Home [Member]
Number of Real Estate Properties Held for Sale		1
Number of Real Estate Properties		25	18
World Plaza [Member] | Mortgage Notes [Member]
Debt, Weighted Average Interest Rate		3.53%
World Plaza [Member] | ABR [Member] | Mortgage Notes [Member]
Debt Instrument, Basis Spread on Variable Rate		0.75%
World Plaza [Member] | London Interbank Offered Rate (LIBOR) [Member] | Mortgage Notes [Member]
Debt Instrument, Basis Spread on Variable Rate		2.75%
Model Home Properties [Member] | Mortgage Notes [Member] | Minimum [Member]
Debt Instrument, Interest Rate, Stated Percentage		2.50%
Model Home Properties [Member] | Mortgage Notes [Member] | Maximum [Member]
Debt Instrument, Interest Rate, Stated Percentage		5.63%
Waterman Plaza [Member] | Mortgage Notes [Member]
Debt Instrument, Floor Interest Rate		4.25%
Waterman Plaza [Member] | London Interbank Offered Rate (LIBOR) [Member] | Mortgage Notes [Member]
Debt Instrument, Basis Spread on Variable Rate		3.00%
[1]	Interest rates as of September 30, 2020.
[2]	Properties held for sale as of September 30, 2020. One of four buildings at Executive Office Park was classified as held for sale; one model home was included as held for sale.

Note 7 - Mortgage Notes Payab_4

Note 7 - Mortgage Notes Payable - Mortgage Notes Payable (Details) - USD ($)		9 Months Ended
		Sep. 30, 2020	Dec. 31, 2019
Mortgage Notes Payable, net		$ 123,536,814	$ 142,392,992
Mortgage Notes [Member]
Mortgage Notes Payable		124,399,266	143,459,049
Unamortized loan costs		(862,452)	(1,066,057)
Waterman Plaza [Member] | Mortgage Notes [Member]
Mortgage Notes Payable	[1],[2]	$ 3,240,076	3,274,097
Interest rate, variable	[1],[2],[3]	4.25%
Maturity date	[1],[2]	Apr. 29, 2020
World Plaza [Member] | Mortgage Notes [Member]
Mortgage Notes Payable	[2],[4]	$ 5,828,395	4,979,384
Interest rate, variable	[2],[3],[4]	2.91%
Maturity date	[2],[4]	Jul. 5, 2021
Garden Gateway Plaza [Member] | Mortgage Notes [Member]
Mortgage Notes Payable	[2]	$ 5,914,955	6,071,315
Maturity date	[2]	Aug. 5, 2021
Interest rate	[2],[3]	5.00%
The 300 N.P [Member] | Mortgage Notes [Member]
Mortgage Notes Payable		$ 2,283,380	2,311,739
Maturity date		Jun. 11, 2022
Interest rate	[3]	4.95%
Highland Court [Member] | Mortgage Notes [Member]
Mortgage Notes Payable		$ 6,312,739	6,424,366
Maturity date		Sep. 1, 2022
Interest rate	[3]	3.82%
Dakota Center [Member] | Mortgage Notes [Member]
Mortgage Notes Payable		$ 9,954,740	10,111,693
Maturity date		Jul. 6, 2024
Interest rate	[3]	4.74%
Union Terrace [Member] | Mortgage Notes [Member]
Mortgage Notes Payable	[5]	$ 0	6,240,396
Maturity date	[5]	Aug. 5, 2024
Interest rate	[3],[5]	4.50%
Centennial Tech Center [Member] | Mortgage Notes [Member]
Mortgage Notes Payable	[5]	$ 0	9,561,652
Maturity date	[5]	Dec. 5, 2024
Interest rate	[3],[5]	4.43%
Research Parkway [Member] | Mortgage Notes [Member]
Mortgage Notes Payable		$ 1,773,846	1,813,305
Maturity date		Jan. 5, 2025
Interest rate	[3]	3.94%
Arapahoe Center [Member] | Mortgage Notes [Member]
Mortgage Notes Payable		$ 7,971,736	8,085,727
Maturity date		Jan. 5, 2025
Interest rate	[3]	4.34%
Union Town Center [Member] | Mortgage Notes [Member]
Mortgage Notes Payable		$ 8,350,338	8,440,000
Maturity date		Jan. 5, 2025
Interest rate	[3]	4.28%
One Park Centre [Member] | Mortgage Notes [Member]
Mortgage Notes Payable		$ 6,411,646	6,487,532
Maturity date		Sep. 5, 2025
Interest rate	[3]	4.77%
Genesis Plaza [Member] | Mortgage Notes [Member]
Mortgage Notes Payable		$ 6,302,600	6,378,110
Maturity date		Sep. 6, 2025
Interest rate	[3]	4.71%
Shea Center II [Member] | Mortgage Notes [Member]
Mortgage Notes Payable		$ 17,727,500	17,727,500
Maturity date		Jan. 5, 2026
Interest rate	[3]	4.92%
Executive Office Park [Member] | Mortgage Notes [Member]
Mortgage Notes Payable	[2]	$ 4,754,908	4,839,577
Maturity date	[2]	Jun. 1, 2027
Interest rate	[2],[3]	4.83%
West Fargo Industrial [Member] | Mortgage Notes [Member]
Mortgage Notes Payable		$ 4,290,717	4,216,565
Maturity date		Aug. 5, 2029
Interest rate	[3]	3.27%
Grand Pacific Center [Member] | Mortgage Notes [Member]
Mortgage Notes Payable	[6]	$ 3,767,027	3,851,962
Maturity date	[6]	Aug. 1, 2037
Interest rate	[3],[6]	4.02%
Subtotal, Presidio Property Trust, Inc. Properties [Member] | Mortgage Notes [Member]
Mortgage Notes Payable		$ 94,884,603	110,814,920
Model Home [Member] | Mortgage Notes [Member]
Mortgage Notes Payable	[2],[7]	$ 29,514,663	$ 32,644,129
Model Home [Member] | Mortgage Notes [Member] | Minimum [Member]
Maturity date	[2],[7]	Dec. 31, 2020
Model Home [Member] | Mortgage Notes [Member] | Maximum [Member]
Maturity date	[2],[7]	Dec. 31, 2023
[1]	Interest on this loan resets annually at LIBOR plus 3.00%, with a floor of 4.25%.
[2]	Properties held for sale as of September 30, 2020. One of four buildings at Executive Office Park was classified as held for sale; one model home was included as held for sale.
[3]	Interest rates as of September 30, 2020.
[4]	Interest on this loan is ABR plus 0.75% and LIBOR plus 2.75%. For the nine months ended September 30, 2020, the weighted average interest rate was 3.53%.
[5]	Centennial Tech Center and Union Terrace were sold on February 5, 2020 and March 13, 2020, respectively.
[6]	Interest rate is subject to reset on September 1, 2023.
[7]	Each model home has a stand-alone mortgage note at interest rates ranging from 2.50% to 5.63% per annum at September 30, 2020.

Note 7 - Mortgage Notes Payab_5

Note 7 - Mortgage Notes Payable - Scheduled Principal Payments of Mortgage Notes Payable (Details)	Sep. 30, 2020USD ($)
Long-Term Debt, Maturity, Remainder of Fiscal Year	$ 1,581,060
Long-Term Debt, Maturity, Year One	27,712,713
2022	21,494,371
2023	6,969,407
2024	1,602,019
Thereafter	65,039,696
Total	124,399,266
Office/Industrial and Retail Notes Payable [Member]
Long-Term Debt, Maturity, Remainder of Fiscal Year	468,332
Long-Term Debt, Maturity, Year One	16,406,080
2022	9,826,391
2023	1,542,085
2024	1,602,019
Thereafter	65,039,696
Total	94,884,603
Model Home Properies Notes Payable [Member]
Long-Term Debt, Maturity, Remainder of Fiscal Year	1,112,728
Long-Term Debt, Maturity, Year One	11,306,633
2022	11,667,980
2023	5,427,322
2024	0
Thereafter	0
Total	$ 29,514,663

Note 8 - Notes Payable (Details

Note 8 - Notes Payable (Details Textual) - USD ($)	Aug. 17, 2020	Apr. 30, 2020	Apr. 22, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 01, 2020	Sep. 17, 2019
Amortization of Debt Issuance Costs				$ 992,705	$ 592,598
Payments of Extension Costs on Note Payable				351,025	$ 0
Economic Injury Disaster Loan [Member]
Proceeds from Issuance of Unsecured Debt	$ 150,000		$ 10,000
SBA CARES Act Paycheck Protection Program [Member]
Proceeds from Issuance of Unsecured Debt		$ 462,000
Polar Multi-Strategy Master Fund [Member] | Notes Payable to Banks [Member]
Debt Instrument, Face Amount							$ 14,000,000
Debt Instrument, Interest Rate, Stated Percentage							8.00%
Long-term Debt, Total				8,800,000		$ 8,800,000
Debt Instrument, Renewal Fee Percentage							4.00%
Repayments of Notes Payable, Including Interest				7,400,000
Debt Instrument, Unamortized Discount, Total				0			$ 1,400,000
Accretion Expense				1,000,000
Debt Issuance Costs, Gross							$ 1,100,000
Amortization of Debt Issuance Costs				748,000
Payments of Extension Costs on Note Payable				$ 351,000
Debt Instrument, Covenant, Debt to Property Fair Value Ratio							75.00%

Note 10 - Series B Mandatoril_2

Note 10 - Series B Mandatorily Redeemable Preferred Stock (Details Textual) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Interest Expense, Total	$ 2,143,960	$ 2,830,858	$ 6,971,162	$ 7,867,932
Redeemable Convertible Preferred Stock Series B [Member]
Stock Redeemed or Called During Period, Shares (in shares)					16,900
Stock Redeemed or Called During Period, Value					$ 16,900,000
Preferred Stock, Shares Outstanding, Ending Balance (in shares)	0		0		0
Interest Expense, Total			$ 0	$ 122,000
Unamortized Deferred Stock Costs	$ 0		$ 0		$ 0

Note 11 - Stockholders' Equity

Note 11 - Stockholders' Equity (Details Textual)	Jan. 23, 2012USD ($)$ / sharesshares	Sep. 30, 2020USD ($)$ / sharesshares	Jun. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)$ / sharesshares	Sep. 30, 2019USD ($)$ / shares	Dec. 31, 2016	Sep. 30, 2020USD ($)$ / sharesshares	Dec. 31, 2019$ / sharesshares
Preferred Stock, Shares Authorized (in shares)		1,000,000			1,000,000			1,000,000
Maximum Individual Common Stock Ownership, Percentage		9.80%			9.80%			9.80%
Dividends, Common Stock, Cash | $					$ 0	$ 2,200,000
Common Stock, Dividends, Per Share, Cash Paid (in dollars per share) | $ / shares						$ 0.12
Number of Real Estate Properties		128			128			128
Number of Limited Partnerships in which Company is Sole General Partner							1
Number of Limited Liability Companies							4
Number of Put Options Exercised (in shares)					2
Stock Issued During Period, Value, New Issues | $			$ 0		$ 59,274
Registered Shares of Common Stock Pursuant to Dividend Reinvestment Plan (in shares)	3,000,000
Common Stock, Percentage of Purchase Price Per Share	95.00%
Shares Issued, Price Per Share (in dollars per share) | $ / shares	$ 19
Payment of Sales, Commission or Dealer Manager Fee | $	$ 0
Notice Period for Amendments to Dividend Reinvestment Plan (Day)	30 days
Stock Issued During Period, Value, Dividend Reinvestment Plan | $								$ 17,400,000
Stock Issued During Period, Shares, Dividend Reinvestment Plan (in shares)					0			917,074
Share-based Payment Arrangement, Expense | $		$ 181,000		$ 193,000	$ 542,000	$ 809,000
Noncontrolling Interest [Member]
Minority Interest, Decrease from Issuance of Stock for Limited Partnership Interests | $			$ 1,247,990		$ 1,200,000
Commercial Property [Member] | Wholly Owned Properties [Member]
Number of Real Estate Properties		15			15			15
Commercial Property [Member] | Partially Owned Properties [Member]
Number of Real Estate Properties		2			2			2
Common Class A [Member]
Common Stock, Shares Authorized (in shares)		100,000,000			100,000,000			100,000,000	100,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares		$ 0.01			$ 0.01			$ 0.01	$ 0.01
Common Stock, Shares, Issued, Total (in shares)		8,922,036			8,922,036			8,922,036	8,881,842
Common Class B [Member]
Common Stock, Shares Authorized (in shares)		1,000			1,000			1,000
Common Stock, Shares, Issued, Total (in shares)		0			0			0
Common Class C [Member]
Common Stock, Shares Authorized (in shares)		9,000,000			9,000,000			9,000,000
Common Stock, Shares, Issued, Total (in shares)		0			0			0
Common Stock, Number of Entitled Votes		1			1			1

Note 12 - Segments (Details Tex

Note 12 - Segments (Details Textual)	9 Months Ended
	Sep. 30, 2020
Number of Reportable Segments	3

Note 12 - Segments - Operating

Note 12 - Segments - Operating Income by Segment (Details) - USD ($)	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Rental, fees and other income	$ 5,663,568			$ 7,000,870			$ 18,814,123	$ 21,301,121
Property and related expenses	(2,108,621)			(2,533,064)			(6,489,547)	(7,822,616)
General and administrative expenses	(1,366,380)			(1,451,873)			(3,996,696)	(4,632,244)
Depreciation and amortization	(1,626,917)			(1,755,253)			(4,823,673)	(5,714,446)
Interest expense	(2,143,960)			(2,830,858)			(6,971,162)	(7,867,932)
Other income (expense), net	(12,270)			9,294			(10,865)	19,227
Income tax expense	(122,602)			(338,713)			(257,602)	(611,952)
Gain on sale of real estate	332,715			4,853,186			656,975	6,243,819
Net (loss) income	(1,384,468)	$ (1,607,534)	$ (932,119)	2,953,589	$ (1,076,674)	$ (961,937)	(3,924,121)	914,977
Operating Segments [Member]
Net operating income, as defined	3,554,946			4,467,806			11,478,902	13,478,505
Office/Industrial Properties [Member] | Operating Segments [Member]
Rental, fees and other income	4,098,892			5,137,114			13,334,595	16,087,363
Property and related expenses	(1,813,950)			(2,237,392)			(5,539,320)	(7,041,306)
Net operating income, as defined	2,284,942			2,899,722			7,795,275	9,046,057
Model Home Properties [Member] | Operating Segments [Member]
Rental, fees and other income	1,058,329			1,083,470			3,268,074	3,167,072
Property and related expenses	(58,897)			(42,258)			(160,688)	(140,866)
Net operating income, as defined	999,432			1,041,212			3,107,386	3,026,206
Retail Properties [Member] | Operating Segments [Member]
Rental, fees and other income	548,392			780,286			2,305,412	2,046,686
Property and related expenses	(277,820)			(253,414)			(1,729,171)	(640,444)
Net operating income, as defined	$ 270,572			$ 526,872			$ 576,241	$ 1,406,242

Note 12 - Segments - Assets by

Note 12 - Segments - Assets by Reportable Segment (Details) - USD ($)		Sep. 30, 2020	Dec. 31, 2019
Total assets		$ 191,817,949	$ 220,784,408
Cash, cash equivalents and restricted cash		10,006,026	10,391,275
Other assets, net		3,715,172	5,709,586
Operating Segments [Member]
Total assets		174,822,456	209,158,266
Segment Reconciling Items [Member]
Total assets		191,817,949	220,784,408
Cash, cash equivalents and restricted cash		1,913,279	1,591,041
Other assets, net		15,082,214	10,035,101
Office/Industrial Properties [Member] | Operating Segments [Member]
Land, buildings and improvements, net	[1]	102,805,132	126,421,648
Total assets	[2]	103,137,364	131,180,612
Model Home Properties [Member] | Operating Segments [Member]
Land, buildings and improvements, net	[1]	45,945,657	48,466,371
Total assets	[2]	45,235,619	51,389,400
Retail Properties [Member] | Operating Segments [Member]
Land, buildings and improvements, net	[1]	25,125,813	25,318,601
Total assets	[2]	$ 26,449,473	$ 26,588,254
[1]	Includes lease intangibles and the land purchase option related to property acquisitions.
[2]	Includes land, buildings and improvements, cash, cash equivalents, and restricted cash, current receivables, deferred rent receivables and deferred leasing costs and other related intangible assets, all shown on a net basis.

Note 12 - Segments - Capital Ex

Note 12 - Segments - Capital Expenditures by Reportable Segment (Details) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Capital expenditures and tenant improvements	$ 2,510,152	$ 5,182,033
Acquisition of operating properties	8,996,248	6,116,035
Total real estate investments	11,506,400	11,298,068
Office/Industrial Properties [Member]
Capital expenditures and tenant improvements	2,501,075	5,161,786
Model Home Properties [Member]
Acquisition of operating properties	8,996,248	6,116,035
Retail Properties [Member]
Capital expenditures and tenant improvements	$ 9,077	$ 20,247

Note 13 - Subsequent Events (De

Note 13 - Subsequent Events (Details Textual)	Nov. 02, 2020$ / shares
Subsequent Event [Member]
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 0.10