Presidio Property Trust (SQFT) 10-K 30 Mar 21 2020 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Mar. 29, 2021	Jun. 30, 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	FY
Document Fiscal Year Focus	2020
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	000-53673
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, $0.01 par value per share
Trading Symbol	SQFT
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	Yes
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 Public Float			$ 0
Entity Common Stock, Shares Outstanding		9,889,051

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Real estate assets and lease intangibles:
Land	$ 18,827,000	$ 19,844,739
Buildings and improvements	115,409,423	118,446,764
Tenant improvements	11,960,018	10,696,181
Lease intangibles	4,110,139	4,230,706
Real estate assets and lease intangibles held for investment, cost	150,306,580	153,218,390
Accumulated depreciation and amortization	(26,551,789)	(22,482,219)
Real estate assets and lease intangibles held for investment, net	123,754,791	130,736,171
Real estate assets held for sale, net	42,499,176	69,470,449
Real estate assets, net	166,253,967	200,206,620
Cash, cash equivalents and restricted cash	11,540,917	10,391,275
Deferred leasing costs, net	1,927,951	2,053,927
Goodwill	2,423,000	2,423,000
Other assets, net	3,422,781	5,709,586
TOTAL ASSETS	185,568,616	220,784,408
Liabilities:
Mortgage notes payable, net	94,664,266	99,996,306
Mortgage notes payable related to properties held for sale, net	25,365,430	42,396,686
Mortgage notes payable, total net	120,029,696	142,392,992
Note payable, net	7,500,086	12,238,692
Accounts payable and accrued liabilities	5,126,199	5,673,815
Accrued real estate taxes	2,548,686	2,987,601
Lease liability, net	102,323	560,188
Below-market leases, net	139,045	309,932
Total liabilities	135,446,035	164,163,220
Commitments and contingencies (Note 10)
Equity:
Additional paid-in capital	156,463,146	152,129,120
Dividends and accumulated losses	(121,674,505)	(113,037,144)
Total stockholders' equity before noncontrolling interest	34,883,679	39,180,794
Noncontrolling interest	15,238,902	17,440,394
Total equity	50,122,581	56,621,188
TOTAL LIABILITIES AND EQUITY	185,568,616	220,784,408
Common Class A [Member]
Equity:
Series A Common Stock, $0.01 par value, shares authorized: 100,000,000; 9,508,363 and 8,881,842 shares were both issued and outstanding at December 31, 2020 and December 31, 2019, respectively	$ 95,038	$ 88,818

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - Common Class A [Member] - $ / shares	Dec. 31, 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)	9,508,363	8,881,842
Common stock, shares outstanding (in shares)	9,508,363	8,881,842

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenues:
Rental income	$ 23,444,119	$ 27,467,410
Fees and other income	907,673	1,173,701
Total revenue	24,351,792	28,641,111
Costs and expenses:
Rental operating costs	8,818,283	10,410,574
General and administrative	5,751,754	5,268,315
Depreciation and amortization	6,274,321	7,364,688
Impairment of real estate assets	1,730,851	0
Total costs and expenses	22,575,209	23,043,577
Other income (expense):
Interest expense-Series B preferred stock	0	(2,226,101)
Interest and other income (expense), net	(20,636)	141,306
Gain on sales of real estate, net	1,245,460	6,319,272
Gain on extinguishment of government debt	451,785	0
Deferred offering costs	(530,639)	0
Acquisition costs	0	(24,269)
Income tax expense	(370,884)	(611,263)
Total other income (expense), net	(8,037,981)	(4,824,600)
Net (loss) income	(6,261,398)	772,934
Less: Loss attributable to noncontrolling interests	(1,412,507)	(1,383,140)
Net loss attributable to Presidio Property Trust, Inc. common stockholders	$ (7,673,905)	$ (610,206)
Basic and diluted loss per common share (in dollars per share)	$ (0.85)	$ (0.07)
Weighted average number of common shares outstanding - basic and diluted (in shares)	9,023,914	8,862,958
Mortgage Notes [Member]
Other income (expense):
Interest expense	$ (6,097,834)	$ (7,337,423)
Notes Payable [Member]
Other income (expense):
Interest expense	$ (2,715,233)	$ (1,086,122)

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($)	IPO [Member]Common Stock [Member]	IPO [Member]Additional Paid-in Capital [Member]	IPO [Member]Retained Earnings [Member]	IPO [Member]Parent [Member]	IPO [Member]Noncontrolling Interest [Member]	IPO [Member]	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							0	0	(610,206)	(610,206)	1,383,140	772,934
Dividends paid							0	0	(1,083,098)	(1,083,098)	0	(1,083,098)
Contributions received from noncontrolling interests, net of distributions paid							$ 0	0	0	0	331,604	331,604
Repurchase of common stock (in shares)							(30,498)
Repurchase of common stock							$ (306)	(227,122)	0	(227,428)	0	(227,428)
Vesting of restricted stock (in shares)							51,629
Vesting of restricted stock							$ 516	685,617	0	686,133	0	686,133
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							0	0	(7,673,905)	(7,673,905)	1,412,507	(6,261,398)
Dividends paid							$ 0	0	(963,456)	(963,456)	0	(963,456)
Repurchase of common stock (in shares)							(3,000)
Repurchase of common stock							$ (30)	(17,970)	0	(18,000)	0	(18,000)
Vesting of restricted stock (in shares)							86,327
Vesting of restricted stock							$ 818	1,104,454	0	1,105,272	0	1,105,272
Shares issued, initial public offering, net of fees (in shares)	500,000						59,274
Shares issued	$ 5,000	$ 1,999,984	$ 0	$ 2,004,984	$ 0	$ 2,004,984	$ 594	1,247,396	0	1,247,990		0
Distributions in excess of contributions received							$ 0	0	0	0	(2,366,009)	(2,366,009)
Share reconciliation adjustment (in shares)							(16,080)
Share reconciliation adjustment							$ (162)	162	0	0	0	0
Shares issued	$ 5,000	$ 1,999,984	$ 0	$ 2,004,984	$ 0	$ 2,004,984	$ 594	1,247,396	0	1,247,990		0
Shares issued											(1,247,990)
Balance (in shares) at Dec. 31, 2020							9,508,363
Balance at Dec. 31, 2020							$ 95,038	$ 156,463,146	$ (121,674,505)	$ 34,883,679	$ 15,238,902	$ 50,122,581

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 (loss) income	$ (6,261,398)	$ 772,934
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	6,274,321	7,364,688
Stock compensation	1,105,272	686,133
Bad debt expense (recoveries)	77,898	(32,544)
Gain on sale of real estate assets, net	(1,245,460)	(6,319,272)
Impairment of real estate assets	1,730,851	0
Accretion of original issue discount	1,013,405	386,595
Amortization of financing costs	1,287,430	965,239
Amortization of above-market leases	50,682	55,466
Amortization of below-market leases	(170,887)	(185,995)
Straight-line rent adjustment	108,998	(63,895)
Changes in operating assets and liabilities:
Other assets	1,957,641	1,035,806
Accounts payable and accrued liabilities	(1,796,421)	(767,440)
Accrued real estate taxes	(438,915)	(106,779)
Net cash provided by operating activities	3,693,417	3,790,936
Cash flows from investing activities:
Real estate acquisitions	(10,161,613)	(13,037,562)
Additions to buildings and tenant improvements	(2,834,373)	(6,393,711)
Additions to deferred leasing costs	(175,828)	(661,401)
Proceeds from sales of real estate, net	40,849,654	32,073,721
Net cash provided by investing activities	27,677,840	11,981,047
Cash flows from financing activities:
Proceeds from mortgage notes payable, net of issuance costs	14,152,838	15,494,715
Proceeds from government debt relief	451,785	0
Repayment of mortgage notes payable	(36,808,331)	(23,176,581)
Repayment of note payable	(6,324,401)	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	(45,016)	0
(Distributions) contributions to noncontrolling interests, net	(2,366,009)	331,603
Issuance of stock for Initial Public Offering, net of underwriters fees	2,050,000	0
Repurchase of common stock	(18,000)	(227,428)
Dividends paid to stockholders	(963,456)	(2,158,469)
Net cash used in financing activities	(30,221,615)	(15,156,923)
Net increase in cash equivalents and restricted cash	1,149,642	615,060
Cash, cash equivalents and restricted cash - beginning of period	10,391,275	9,776,215
Cash, cash equivalents and restricted cash - end of period	11,540,917	10,391,275
Supplemental disclosure of cash flow information:
Interest paid-Series B preferred stock	0	1,859,672
Interest paid-mortgage notes payable	5,892,025	6,442,750
Interest paid-notes payable	778,414	713,262
Non-cash financing activities:
Issuance of stock for limited partnership interests	1,247,990	0
Unpaid deferred financing costs	83,659	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	900,000
Cash flows from financing activities:
Proceeds from note payable, net of issuance cost of $1.1 million	0	11,479,237
Payment of extension costs, note payable	$ (400,000)
Payment of deferred offering costs		$ (1,100,000)

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parentheticals) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Payment of deferred offering costs	$ (45,016)	$ 0
Polar Multi-Strategy Master Fund [Member] | Notes Payable to Banks [Member]
Payment of deferred offering costs		$ (1,100,000)

Note 1 - Organization and Basis

Note 1 - Organization and Basis of Presentation	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Organization. September 28, 1999, August 2010, October 2017, The Company or one • The Company is the sole general partner and limited partner in two • The Company is the general partner and/or limited partner in six limited partnerships that purchase model homes and lease them back to homebuilders (Dubose Model Homes Investors #202, #203, #204, #205, #206, The Company has determined that the limited partnerships in which it owns less than 100%, Unit-based information used herein (such as references to square footage or property occupancy rates) is unaudited. Initial Public Offering October 6, 2020, $0.5 not $0.5 Reverse Stock Split July 29, 2020, one Liquidity. September 17, 2019 September 1, 2020, October 1, 2020 March 31, 2021 ( December 31, 2020 September 30, 2020 March 2021, 14. We have $10.2 million of mortgage notes payable maturing in 2021 2021 not Segments. 14. Customer Concentration. December 31, 2020 December 31, 2019

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. Basis of Presentation. Principles of Consolidation The Company classifies the noncontrolling interests in the NetREIT Partnerships as part of consolidated net income (loss) in 2020 2019 February 2010. not Use of Estimates may Real Estate Assets and Lease Intangibles. The Company allocates the purchase price to tangible assets of an acquired property based on the estimated fair values of those tangible assets assuming the building was vacant. Estimates of fair value for land, building and building improvements are based on many factors including, but not third The value allocated to acquired lease intangibles is based on management’s evaluation of the specific characteristics of each tenant’s lease. Characteristics considered by management in allocating these values include the nature and extent of the existing business relationships with the tenant, growth prospects for developing new business with the tenant, the remaining term of the lease and the tenant’s credit quality, among other factors. The value allocable to the above-market or below-market component of an acquired in-place lease is determined based upon the present value (using a market discount rate) of the difference between (i) the contractual rents to be paid pursuant to the lease over its remaining term, and (ii) management’s estimate of rents that would be paid using fair market rates over the remaining term of the lease. The amounts allocated to above or below-market leases are amortized on a straight-line basis as an increase or reduction of rental income over the remaining non-cancelable term of the respective leases. Amortization of above and below-market rents resulted in a net increase in rental income of approximately $0.1 million for the years ended December 31, 2020 2019 The value of in-place leases and unamortized lease origination costs are amortized to expenses over the remaining term of the respective leases, which range from less than a year to ten third December 31, 2020 2019 Real Estate Held for Sale and Discontinued Operations. not Impairment of Real Estate Assets. December 31, 2020 two December 31, 2019 Intangible Assets not not not December 31, 2020 2019 The Company is required to perform a test for impairment of goodwill and other definite and indefinite lived assets at least annually, and more frequently as circumstances warrant. Impairment is recognized only if the carrying amount of the intangible asset is considered to be unrecoverable from its undiscounted cash flows and is measured as the difference between the carrying amount and the estimated fair value of the asset. Based on the review, no impairment was deemed to exist at December 31, 2020 2019 Depreciation and Amortization. December 31, 2020 2019 Cash, Cash Equivalents and Restricted Cash. three may $250,000 No December 31, 2020 December 31, 2020 Account Receivables. December 31, 2020 2019 Deferred Leasing Costs. one five third December 31, 2020 2019 December 31, 2020 2019 Deferred Financing Costs. December 31, 2020 2019 2019, 8. December 31, 2020 December 31, 2020 2019 2019. December 31, 2020 2019 Deferred Offering Costs. December 31, 2020 3 December 29, 2020. December 31, 2020 Income Taxes. 856 860 not December 31, 2020 may not We, together with our subsidiary, NetREIT Dubose, have elected to treat such subsidiary as taxable REIT subsidiary (a “TRS”) for federal income tax purposes. Certain activities that we undertake must be conducted by a TRS, such as non-customary services for our tenants, and holding assets that we cannot hold directly. A TRS is subject to federal and state income taxes. The Company has concluded that there are no Fair Value Measurements. Level 1 Level 2 Level 3 Fair value is defined as the price at which an asset or liability is exchanged between market participants in an orderly transaction at the reporting date. Cash equivalents, mortgage notes receivable, tenant receivable and payables and accrued liabilities all approximate fair value due to their short-term nature. During the year ended December 31, 2020 two 3 December 31, 2020 2019 Sales of Real Estate Assets January 1, 2018, 610 20, 610 20” not 610 20. ASC 610 20 No. 2014 9. 610 20, not Revenue Recognition and Accounts Receivables not not • whether the lease stipulates how a tenant improvement allowance may • whether the amount of a tenant improvement allowance is in excess of market rates; • whether the tenant or landlord retains legal title to the improvements at the end of the lease term; • whether the tenant improvements are unique to the tenant or general-purpose in nature; and • whether the tenant improvements are expected to have any residual value at the end of the lease. We record property operating expense reimbursements due from tenants for common area maintenance, real estate taxes, and other recoverable costs in the period the related expenses are incurred. We make estimates of the collectability of our tenant receivables related to base rents, including deferred rent receivable, expense reimbursements and other revenue or income. We specifically analyze accounts receivable, deferred rent receivable, historical bad debts, customer creditworthiness, current economic trends and changes in customer payment terms when evaluating the adequacy of the allowance for doubtful accounts. In addition, with respect to tenants in bankruptcy, management makes estimates of the expected recovery of pre-petition and post-petition claims in assessing the estimated collectability of the related receivable. In some cases, the ultimate resolution of these claims can exceed one not no Income (Loss) per Common Share. not For the years ended December 31, 2020 2019, Recently Issued Accounting Pronouncements. March 2020, No. 2020 04, not December 31, 2022 March 2020 no In June 2017, No. 2016 13, February 2020 No. 2020 02, 326 842 2016 13 2016 13 2016 13 December 15, 2019, 2020 02 December 15, 2022. not In August 2018, No. 2018 13, 820. December 15, 2019 January 1, 2020 no

Note 3 - Recent Real Estate Tra

Note 3 - Recent Real Estate Transactions	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Real Estate Disclosure [Text Block]	3. During year ended December 31, 2020 • Centennial Tech Center, which was sold on February 5, 2020 • Union Terrace, which was sold on March 13, 2020 • One of four Executive Office Park buildings, which was sold on December 2, 2020 • During the year ended December 31, 2020 During year ended December 31, 2019 • Morena Office Center, which was sold on January 15, 2019 • Nightingale land, which was sold on May 8, 2019 • On July 1, 2019, January 15, 2020. 1031 • The Presidio office building, which was sold on July 31, 2019 • During the year ended December 31, 2019 We acquired 28 Model Home Properties and leased them back to the homebuilders under triple net leases during the year ended December 31, 2020 We acquired 33 Model Home Properties and leased them back to the homebuilders under triple net leases during the year ended December 31, 2019

Note 4 - Real Estate Assets

Note 4 - Real Estate Assets	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Real Estate Assets [Text Block]	4. The Company owns a diverse portfolio of real estate assets. The primary types of properties the Company invests in are office, industrial, retail, and NNN leased model home properties located primarily in Southern California and Colorado, with four properties located in North Dakota. Our model home properties are located in seven states. As of December 31, 2020 • Ten office buildings and one industrial buildings (“Office/Industrial Properties”) which total approximately 982,796 rentable square feet; • Four retail shopping centers (“Retail Properties”) which total approximately 131,722 rentable square feet; • 118 homes owned by our affiliated limited partnerships and one The Company’s real estate assets consisted of the following as of December 31, 2020 2019 Date Real estate assets, net (in thousands) Property Name Acquired Location 2020 2019 Garden Gateway Plaza (1) March 2007 Colorado Springs, Colorado $ 11,465 $ 11,428 World Plaza (1) September 2007 San Bernardino, California 9,272 8,305 Executive Office Park (3) July 2008 Colorado Springs, Colorado 5,106 7,723 Waterman Plaza (1) August 2008 San Bernardino, California 3,500 4,889 Genesis Plaza August 2010 San Diego, California 8,651 8,789 Dakota Center May 2011 Fargo, North Dakota 8,597 8,855 Grand Pacific Center March 2014 Bismarck, North Dakota 5,684 5,914 Union Terrace (4) August 2014 Lakewood, CO — 8,425 Centennial Tech Center (4) December 2014 Colorado Springs, Colorado — 13,132 Arapahoe Center December 2014 Centennial, Colorado 9,233 9,748 Union Town Center December 2014 Colorado Springs, Colorado 9,345 9,612 West Fargo Industrial August 2015 Fargo, North Dakota 7,061 7,212 300 N.P. August 2015 Fargo, North Dakota 3,280 3,405 Research Parkway August 2015 Colorado Springs, Colorado 2,438 2,512 One Park Center August 2015 Westminster, Colorado 8,586 8,518 Highland Court (1) August 2015 Centennial, Colorado 10,500 11,421 Shea Center II December 2015 Highlands Ranch, Colorado 21,026 21,853 Presidio Property Trust, Inc. properties 123,744 151,741 Model Home properties (2) 2014 2020 AZ, FL, IL, PA, TX, WI 42,510 48,466 Total real estate assets and lease intangibles, net $ 166,254 $ 200,207 ( 1 Property held for sale as of December 31, 2020 ( 2 Includes seven Model Homes that are listed as held for sale as of December 31, 2020 ( 3 One of four buildings within this property was sold as of December 31, 2020 ( 4 This property was sold during the year ended December 31, 2020 The Company’s commercial properties are leased to tenants under non-cancelable operating leases for which terms and expirations vary. Future minimum rental revenues under existing leases on Office/Industrial and Retail Properties as of December 31, 2020 2021 $ 3,259,261 2022 3,406,500 2023 2,564,601 2024 1,211,331 2025 1,526,142 Thereafter 2,477,552 Totals $ 14,445,387 The Company generally rents Model Home Properties to homebuilders under non-cancelable lease agreements with a term of 18 months with an option to extend in six December 31, 2020 2021 $ 2,784,108 2022 696,768 $ 3,480,876

Note 5 - Lease Intangibles

Note 5 - Lease Intangibles	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	5. Lease intangibles consist of the following: December 31, 2020 December 31, 2019 Lease Accumulated Lease Lease Accumulated Lease Intangibles Amortization Intangibles, net Intangibles Amortization Intangibles, net In-place leases $ 3,136,587 $ (2,757,530 ) $ 379,057 $ 4,360,027 $ (3,283,027 ) $ 1,077,000 Leasing costs 1,730,656 (1,510,559 ) 220,097 2,937,976 (2,002,711 ) 935,265 Above-market leases 333,485 (291,421 ) 42,064 333,485 (240,739 ) 92,746 $ 5,200,728 $ (4,559,510 ) $ 641,218 $ 7,631,488 $ (5,526,477 ) $ 2,105,011 As of December 31, 2020 2019 December 31, 2020 2019 The net value of acquired intangible liabilities was $0.1 million and $0.3 million relating to below-market leases as of December 31, 2020 2019 Aggregate approximate amortization expense for the Company's lease intangible assets is as follows: 2021 $ 372,484 2022 202,479 2023 17,663 2024 17,663 2025 17,663 Thereafter 13,266 Total $ 641,218 The weighted average amortization period for the intangible assets as of December 31, 2020

Note 6 - Other Assets

Note 6 - Other Assets	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Other Assets Disclosure [Text Block]	6. Other assets consist of the following: December 31, December 31, 2020 2019 Deferred rent receivable $ 1,912,048 $ 2,680,886 Prepaid expenses, deposits and other 299,187 601,897 Accounts receivable, net 541,885 1,336,122 Right-of-use assets, net 102,144 561,375 Other intangibles, net 142,483 212,932 Notes receivable 316,374 316,374 Deferred offering costs 108,660 — Total other assets $ 3,422,781 $ 5,709,586

Note 7 - Mortgage Notes Payable

Note 7 - Mortgage Notes Payable	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Mortgage Notes Payable Disclosure [Text Block]	7. Mortgage notes payable consisted of the following: Principal as of December 31, December 31, Loan Interest Mortgage note property Notes 2020 2019 Type Rate (1) Maturity Waterman Plaza (3) (6) $ 3,207,952 $ 3,274,097 Variable 4.25 % 4/29/2021 World Plaza (3) (5) 5,802,568 4,979,384 Variable 2.91 % 7/5/2021 Garden Gateway Plaza (3) 5,861,523 6,071,315 Fixed 5.00 % 8/5/2021 300 N.P. 2,273,478 2,311,739 Fixed 4.95 % 6/11/2022 Highland Court (3) 6,274,815 6,424,366 Fixed 3.82 % 9/1/2022 Dakota Center 9,900,279 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 1,760,432 1,813,305 Fixed 3.94 % 1/5/2025 Arapahoe Service Center 7,932,255 8,085,727 Fixed 4.34 % 1/5/2025 Union Town Center 8,315,550 8,440,000 Fixed 4.28 % 1/5/2025 One Park Centre 6,385,166 6,487,532 Fixed 4.77 % 9/5/2025 Genesis Plaza 6,276,273 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) 2,985,998 4,839,577 Fixed 4.83 % 6/1/2027 West Fargo Industrial 4,262,718 4,216,565 Fixed 3.27 % 8/5/2029 Grand Pacific Center (4) 3,738,142 3,851,962 Fixed 4.02 % 8/1/2037 Subtotal, Presidio Property Trust, Inc. Properties $ 92,704,649 $ 110,814,920 Model Home mortgage notes (3) 28,083,356 32,644,129 Fixed (7 ) 2021 2023 Mortgage Notes Payable $ 120,788,005 $ 143,459,049 Unamortized loan costs (758,309 ) (1,066,057 ) Mortgage Notes Payable, net $ 120,029,696 $ 142,392,992 ( 1 Interest rates as of December 31, 2020 ( 2 Property sold during the year ended December 31, 2020 3 One four ( 3 Properties held for sale as of December 31, 2020. ( 4 Interest rate is subject to reset on September 1, 2023. ( 5 Interest on this loan is ABR + 0.75% and LIBOR plus 2.75%. For the year-ended December 31, 2020 ( 6 Interest on this loan resets annually at LIBOR plus 3.00%, with a floor of 4.25% ( 7 Each Model Home has a stand-alone mortgage note at interest rates ranging from 2.5% to 5.6% at December 31, 2020 The Company is in compliance with all conditions and covenants of its mortgage notes payable. Scheduled principal payments of mortgage notes payable are as follows: Presidio Property Model Trust, Inc. Homes Total Principal Years ending December 31: Notes Payable Notes Payable Payments 2021 $ 16,385,688 $ 10,169,248 $ 26,554,936 2022 9,780,330 11,735,522 21,515,852 2023 1,493,749 6,178,586 7,672,335 2024 10,447,888 — 10,447,888 2025 28,902,297 — 28,902,297 Thereafter 25,694,697 — 25,694,697 Total $ 92,704,649 $ 28,083,356 $ 120,788,005

Note 8 - Notes Payable

Note 8 - Notes Payable	12 Months Ended
	Dec. 31, 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 Note as of December 31, 2020 September 17, 2019 October 1, 2020. December 31, 2020 December 31, 2020 The Company incurred approximately $1.1 million in legal and underwriting costs related to the transaction. These costs have been recorded as debt issuance costs on the accompanying consolidated balance sheets as a direct deduction from the principal of the Note and are being amortized over the term of the Note. Amortization expense totaling approximately $0.9 million was included in interest expenses for the year ended December 31, 2020 4% December 31, 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 December 31, 2020 On April 22, 2020, 19 not no 2020 August 17, 2020 twelve 3.75% August 17, 2050. 19 On April 30, 2020, 19 April 22, 2020, December 31, 2020 January 2021 June 5, 2020, 24 December 31, 2020,

Note 9 - Series B Mandatorily R

Note 9 - Series B Mandatorily Redeemable Preferred Stock	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Financial Instruments Subject to Mandatory Redemption Disclosure [Text Block]	9. During the year ended December 31, 2019, December 31, 2020 December 31, 2019, December 31, 2019, December 31, 2020 December 31, 2020 2019.

Note 10 - Commitments and Conti

Note 10 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	10. The Company is obligated under certain tenant leases to fund tenant improvements and the expansion of the underlying leased properties. Litigation. may Environmental Matters. no not not not

Note 11 - Stockholders' Equity

Note 11 - Stockholders' Equity	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	11. Preferred Stock. may one December 31, 2020 December 31, 2019, Common Stock. not not not one Cash Dividends. December 31, 2020 December 31, 2019 Partnership Interests. two one one 2016. five first four one During the year ended December 31, 2020 two two Dividend Reinvestment Plan. may thirty January 23, 2012, December 7, 2019 October 6, 2020 No December 31, 2020 December 31, 2020

Note 12 - Share-based Incentive

Note 12 - Share-based Incentive Plan	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	12. The Company maintains a restricted stock incentive plan for the purpose of attracting and retaining officers, key employees and non-employee board members. Share awards vest in equal annual installments over a three ten A summary of the activity for the Company’s restricted stock was as follows: Common Shares Outstanding shares: Balance at December 31, 2019 125,943 Granted 91,173 Forfeited (4,599 ) Vested (86,327 ) Balance at December 31, 2020 126,190 The non-vested restricted shares outstanding as of December 31, 2020 one seven The value of non-vested restricted stock granted for the years ended December 31, 2020 2019 Share-based compensation expense for the years ended December 31, 2020 2019

Note 13 - Segments

Note 13 - Segments	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	13. The Company’s reportable segments consist of the 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) excluding interest expense. 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 years ended December 31, 2020 2019 For the Year Ended December 31, 2020 2019 Office/Industrial Properties: Rental, fees and other income $ 17,580,472 $ 21,490,215 Property and related expenses (7,977,561 ) (9,317,720 ) Net operating income, as defined 9,602,911 12,172,495 Model Home Properties: Rental, fees and other income 4,251,980 4,194,489 Property and related expenses (202,667 ) (193,367 ) Net operating income, as defined 4,049,313 4,001,122 Retail Properties: Rental, fees and other income 2,971,125 2,956,407 Property and related expenses (2,368,906 ) (899,487 ) Net operating income, as defined 602,219 2,056,920 Reconciliation to net loss: Total net operating income, as defined, for reportable segments 14,254,443 18,230,537 General and administrative expenses (5,751,754 ) (5,268,315 ) Depreciation and amortization (6,274,321 ) (7,364,688 ) Interest expense (8,813,067 ) (10,649,646 ) Deferred offering costs (530,639 ) — Other income (expense), net (20,636 ) 117,037 Income tax expense (370,884 ) (611,263 ) Gain on sale of real estate 1,245,460 6,319,272 Net loss $ (6,261,398 ) $ 772,934 December 31, December 31, Assets by Reportable Segment: 2020 2019 Office/Industrial Properties: Land, buildings and improvements, net (1) $ 99,120,649 $ 126,421,648 Total assets (2) $ 100,046,782 $ 131,180,612 Model Home Properties: Land, buildings and improvements, net (1) $ 42,509,596 $ 48,466,371 Total assets (2) $ 42,246,022 $ 51,389,400 Retail Properties: Land, buildings and improvements, net (1) $ 24,555,371 $ 25,318,601 Total assets (2) $ 26,108,109 $ 26,588,254 Reconciliation to Total Assets: Total assets for reportable segments $ 168,400,913 $ 209,158,266 Other unallocated assets: Cash, cash equivalents and restricted cash 2,149,088 1,591,041 Other assets, net 15,018,615 10,035,101 Total Assets $ 185,568,616 $ 220,784,408 ( 1 Includes lease intangibles and the land purchase option related to property acquisitions. ( 2 Includes land, buildings and improvements, current receivables, deferred rent receivables and deferred leasing costs and other related intangible assets, all shown on a net basis. For the Year Ended December 31, Capital Expenditures by Reportable Segment 2020 2019 Office/Industrial Properties: Capital expenditures and tenant improvements $ 2,825,168 $ 6,373,464 Model Home Properties: Acquisition of operating properties 10,161,613 13,037,562 Retail Properties: Capital expenditures and tenant improvements 9,205 20,247 Totals: Acquisition of operating properties, net 10,161,613 13,037,562 Capital expenditures and tenant improvements 2,834,373 6,393,711 Total real estate investments $ 12,995,986 $ 19,431,273

Note 14 - Subsequent Events

Note 14 - Subsequent Events	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	14. Dispositions We disposed of the following properties subsequent to December 31, 2020: • Waterman Plaza was sold on January 28, 2021 • Garden Gateway was sold on February 19, 2021 Notes Payable On September 1, 2020, October 1, 2020 March 31, 2021 ( December 31, 2020, first 2021, Dividends On February 23, 2021, March 16, 2021 March 9, 2021 .

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation and Amortization	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Text Block]	Schedule III - Real Estate and Accumulated Depreciation and Amortization – as of December 31, 2020 All amounts are in thousands Initial Cost Total Cost (1) Property Name/ Location Encumbrances Land Cost Building & Improvements Acquisition Price Capitalized Improvements Land Cost Building & Improvements Total Cost Accumulated Depreciation & Amortization Reserve for Impairment NBV Real Estate Date Acquired Year Built/ Renovated Garden Gateway, Colorado Springs, CO (2) $ 5,861 $ 3,035 $ 12,091 $ 15,126 $ 3,329 $ 3,035 $ 10,874 $ 17,238 $ 5,774 $ — $ 11,464 03/07 1982/2006 Executive Park, Colorado Springs, CO (2) 2,986 583 8,815 10,081 1,473 583 5,561 7,617 2,510 — 5,107 07/08 2000 Genesis Plaza, San Diego, CA 6,276 1,400 8,600 10,000 2,625 1,400 8,323 12,348 3,697 — 8,651 08/10 1989 Dakota Center, Fargo, ND 9,900 832 8,743 9,575 1,306 832 9,960 12,098 3,500 — 8,598 05/11 1982 Grand Pacific Center, Bismarck, ND 3,738 413 4,926 5,339 904 413 6,099 7,416 1,732 — 5,684 03/14 1976 Arapahoe Center, Centennial, CO 7,932 1,420 10,430 11,850 2,078 1,420 8,857 12,355 3,122 — 9,233 12/14 2000 West Fargo Industrial, Fargo, ND 4,263 1,693 6,207 7,900 264 1,693 6,099 8,056 995 — 7,061 08/15 1998/2005 300 N.P., Fargo, ND 2,274 135 3,715 3,850 319 135 3,589 4,043 764 — 3,279 08/15 1922 Highland Court, Centennial, CO (2) 6,275 3,608 9,442 13,050 3,408 3,608 7,767 14,783 3,883 400 10,500 08/15 1984 One Park Centre, Westminster, CO 6,385 1,206 7,944 9,150 1,952 1,206 7,416 10,574 1,987 — 8,587 08/15 1983 Shea Center II, Highlands Ranch, CO 17,728 2,214 23,747 25,961 6,065 2,214 19,526 27,805 6,779 — 21,026 12/15 2000 Total Office/ Industrial properties 73,618 16,539 104,660 121,882 23,723 16,539 94,071 134,333 34,743 400 99,190 World Plaza , San Bernardino, CA (2) 5,803 1,698 6,232 7,930 1,761 1,698 8,758 12,217 2,246 700 9,271 09/07 1974 Waterman Plaza, San Bernardino, CA (2) 3,208 2,350 4,814 7,164 239 2,383 4,324 6,946 1,282 2,164 3,500 08/08 2008 Union Town Center, Colorado Springs, CO 8,316 1,750 9,462 11,212 513 1,750 8,932 11,195 1,851 — 9,344 12/14 2003 Research Parkway, Colorado Springs, CO 1,760 408 2,442 2,850 43 408 2,349 2,800 361 — 2,439 8/15/2016 2003 Total Retail properties 19,087 6,206 22,950 29,156 2,556 6,239 24,363 33,158 5,740 2,864 24,554 Model Homes -NDMHR, LP 974 534 2,047 2,581 — 534 2,047 2,581 197 — 2,384 2010 2016 2010 2016 Model Homes-DMH LP #202 3,149 741 4,238 4,979 — 741 4,238 4,979 337 — 4,642 2014 2019 2014 2019 Model Homes-DMH LP #203 5,271 1,600 7,132 8,732 — 1,600 7,132 8,732 441 8,291 2016 2020 2016 2020 Model Homes-DMH LP #204 5,385 1,412 6,787 8,199 — 1,412 6,787 8,199 345 7,854 2019 2020 2019 2020 Model Homes-DMH LP #205 5,214 1,461 6,287 7,748 — 1,461 6,287 7,748 179 — 7,569 2020 2020 Model Homes-DMH LP #206 1,696 294 2,181 2,475 — 294 2,181 2,475 27 2,448 2020 2020 Model Homes-NMH Inc. 6,394 1,510 8,190 9,700 — 1,510 8,190 9,700 378 — 9,322 2016 2020 2016 2020 Total Model Home properties 28,083 7,552 36,862 44,414 — 7,552 36,862 44,414 1,904 — 42,510 — CONSOLIDATED TOTALS: $ 120,788 $ 30,297 $ 164,472 $ 195,452 $ 26,279 $ 30,330 $ 155,296 $ 211,905 $ 42,387 $ 3,264 $ 166,254 ( 1 ( 2 December 31, 2020 ( 3 January 28, 2021. ( 4 February 19, 2021. Presidio Property Trust, Inc. and Subsidiaries Schedule III - Real Estate and Accumulated Depreciation and Amortization (continued) – as of December 31, 2020 For the Year Ended December 31, 2020 2019 Real estate Balance at the beginning of the year $ 244,320,582 $ 254,675,874 Acquisitions 10,161,613 13,037,562 Improvements 2,834,367 6,393,711 Impairments (1,730,851 ) — Dispositions of real estate (46,944,545 ) (29,786,565 ) Balance at the end of the year $ 208,641,166 $ 244,320,582 Accumulated depreciation and amortization Balance at the beginning of the year $ (44,113,962 ) $ (43,567,809 ) Depreciation and amortization expense (5,938,958 ) (6,693,613 ) Dispositions of real estate 7,665,721 6,147,460 Balance at the end of the year $ (42,387,199 ) $ (44,113,962 ) Real estate assets, net $ 166,253,967 $ 200,206,620

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation.
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The Company classifies the noncontrolling interests in the NetREIT Partnerships as part of consolidated net income (loss) in 2020 2019 February 2010. not
Use of Estimates, Policy [Policy Text Block]	Use of Estimates may
Real Estate Held for Development and Sale, Policy [Policy Text Block]	Real Estate Assets and Lease Intangibles. The Company allocates the purchase price to tangible assets of an acquired property based on the estimated fair values of those tangible assets assuming the building was vacant. Estimates of fair value for land, building and building improvements are based on many factors including, but not third The value allocated to acquired lease intangibles is based on management’s evaluation of the specific characteristics of each tenant’s lease. Characteristics considered by management in allocating these values include the nature and extent of the existing business relationships with the tenant, growth prospects for developing new business with the tenant, the remaining term of the lease and the tenant’s credit quality, among other factors. The value allocable to the above-market or below-market component of an acquired in-place lease is determined based upon the present value (using a market discount rate) of the difference between (i) the contractual rents to be paid pursuant to the lease over its remaining term, and (ii) management’s estimate of rents that would be paid using fair market rates over the remaining term of the lease. The amounts allocated to above or below-market leases are amortized on a straight-line basis as an increase or reduction of rental income over the remaining non-cancelable term of the respective leases. Amortization of above and below-market rents resulted in a net increase in rental income of approximately $0.1 million for the years ended December 31, 2020 2019 The value of in-place leases and unamortized lease origination costs are amortized to expenses over the remaining term of the respective leases, which range from less than a year to ten third December 31, 2020 2019 Real Estate Held for Sale and Discontinued Operations. not
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment of Real Estate Assets. December 31, 2020 two December 31, 2019
Intangible Assets, Finite-Lived, Policy [Policy Text Block]	Intangible Assets not not not December 31, 2020 2019 The Company is required to perform a test for impairment of goodwill and other definite and indefinite lived assets at least annually, and more frequently as circumstances warrant. Impairment is recognized only if the carrying amount of the intangible asset is considered to be unrecoverable from its undiscounted cash flows and is measured as the difference between the carrying amount and the estimated fair value of the asset. Based on the review, no impairment was deemed to exist at December 31, 2020 2019
Depreciation, Depletion, and Amortization [Policy Text Block]	Depreciation and Amortization. December 31, 2020 2019
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Cash, Cash Equivalents and Restricted Cash. three may $250,000 No December 31, 2020 December 31, 2020
Receivable [Policy Text Block]	Account Receivables. December 31, 2020 2019
Deferred Charges, Policy [Policy Text Block]	Deferred Leasing Costs. one five third December 31, 2020 2019 December 31, 2020 2019 Deferred Financing Costs. December 31, 2020 2019 2019, 8. December 31, 2020 December 31, 2020 2019 2019. December 31, 2020 2019 Deferred Offering Costs. December 31, 2020 3 December 29, 2020. December 31, 2020
Income Tax, Policy [Policy Text Block]	Income Taxes. 856 860 not December 31, 2020 may not We, together with our subsidiary, NetREIT Dubose, have elected to treat such subsidiary as taxable REIT subsidiary (a “TRS”) for federal income tax purposes. Certain activities that we undertake must be conducted by a TRS, such as non-customary services for our tenants, and holding assets that we cannot hold directly. A TRS is subject to federal and state income taxes. The Company has concluded that there are no
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements. Level 1 Level 2 Level 3 Fair value is defined as the price at which an asset or liability is exchanged between market participants in an orderly transaction at the reporting date. Cash equivalents, mortgage notes receivable, tenant receivable and payables and accrued liabilities all approximate fair value due to their short-term nature. During the year ended December 31, 2020 two 3 December 31, 2020 2019
Revenue from Contract with Customer [Policy Text Block]	Sales of Real Estate Assets January 1, 2018, 610 20, 610 20” not 610 20. ASC 610 20 No. 2014 9. 610 20, not Revenue Recognition and Accounts Receivables not not • whether the lease stipulates how a tenant improvement allowance may • whether the amount of a tenant improvement allowance is in excess of market rates; • whether the tenant or landlord retains legal title to the improvements at the end of the lease term; • whether the tenant improvements are unique to the tenant or general-purpose in nature; and • whether the tenant improvements are expected to have any residual value at the end of the lease. We record property operating expense reimbursements due from tenants for common area maintenance, real estate taxes, and other recoverable costs in the period the related expenses are incurred. We make estimates of the collectability of our tenant receivables related to base rents, including deferred rent receivable, expense reimbursements and other revenue or income. We specifically analyze accounts receivable, deferred rent receivable, historical bad debts, customer creditworthiness, current economic trends and changes in customer payment terms when evaluating the adequacy of the allowance for doubtful accounts. In addition, with respect to tenants in bankruptcy, management makes estimates of the expected recovery of pre-petition and post-petition claims in assessing the estimated collectability of the related receivable. In some cases, the ultimate resolution of these claims can exceed one not no
Earnings Per Share, Policy [Policy Text Block]	Income (Loss) per Common Share. not For the years ended December 31, 2020 2019,
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Pronouncements. March 2020, No. 2020 04, not December 31, 2022 March 2020 no In June 2017, No. 2016 13, February 2020 No. 2020 02, 326 842 2016 13 2016 13 2016 13 December 15, 2019, 2020 02 December 15, 2022. not In August 2018, No. 2018 13, 820. December 15, 2019 January 1, 2020 no

Note 4 - Real Estate Assets (Ta

Note 4 - Real Estate Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Real Estate Properties [Table Text Block]	Date Real estate assets, net (in thousands) Property Name Acquired Location 2020 2019 Garden Gateway Plaza (1) March 2007 Colorado Springs, Colorado $ 11,465 $ 11,428 World Plaza (1) September 2007 San Bernardino, California 9,272 8,305 Executive Office Park (3) July 2008 Colorado Springs, Colorado 5,106 7,723 Waterman Plaza (1) August 2008 San Bernardino, California 3,500 4,889 Genesis Plaza August 2010 San Diego, California 8,651 8,789 Dakota Center May 2011 Fargo, North Dakota 8,597 8,855 Grand Pacific Center March 2014 Bismarck, North Dakota 5,684 5,914 Union Terrace (4) August 2014 Lakewood, CO — 8,425 Centennial Tech Center (4) December 2014 Colorado Springs, Colorado — 13,132 Arapahoe Center December 2014 Centennial, Colorado 9,233 9,748 Union Town Center December 2014 Colorado Springs, Colorado 9,345 9,612 West Fargo Industrial August 2015 Fargo, North Dakota 7,061 7,212 300 N.P. August 2015 Fargo, North Dakota 3,280 3,405 Research Parkway August 2015 Colorado Springs, Colorado 2,438 2,512 One Park Center August 2015 Westminster, Colorado 8,586 8,518 Highland Court (1) August 2015 Centennial, Colorado 10,500 11,421 Shea Center II December 2015 Highlands Ranch, Colorado 21,026 21,853 Presidio Property Trust, Inc. properties 123,744 151,741 Model Home properties (2) 2014 2020 AZ, FL, IL, PA, TX, WI 42,510 48,466 Total real estate assets and lease intangibles, net $ 166,254 $ 200,207
Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity [Table Text Block]	2021 $ 3,259,261 2022 3,406,500 2023 2,564,601 2024 1,211,331 2025 1,526,142 Thereafter 2,477,552 Totals $ 14,445,387 2021 $ 2,784,108 2022 696,768 $ 3,480,876

Note 5 - Lease Intangibles (Tab

Note 5 - Lease Intangibles (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	December 31, 2020 December 31, 2019 Lease Accumulated Lease Lease Accumulated Lease Intangibles Amortization Intangibles, net Intangibles Amortization Intangibles, net In-place leases $ 3,136,587 $ (2,757,530 ) $ 379,057 $ 4,360,027 $ (3,283,027 ) $ 1,077,000 Leasing costs 1,730,656 (1,510,559 ) 220,097 2,937,976 (2,002,711 ) 935,265 Above-market leases 333,485 (291,421 ) 42,064 333,485 (240,739 ) 92,746 $ 5,200,728 $ (4,559,510 ) $ 641,218 $ 7,631,488 $ (5,526,477 ) $ 2,105,011
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	2021 $ 372,484 2022 202,479 2023 17,663 2024 17,663 2025 17,663 Thereafter 13,266 Total $ 641,218

Note 6 - Other Assets (Tables)

Note 6 - Other Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Other Assets [Table Text Block]	December 31, December 31, 2020 2019 Deferred rent receivable $ 1,912,048 $ 2,680,886 Prepaid expenses, deposits and other 299,187 601,897 Accounts receivable, net 541,885 1,336,122 Right-of-use assets, net 102,144 561,375 Other intangibles, net 142,483 212,932 Notes receivable 316,374 316,374 Deferred offering costs 108,660 — Total other assets $ 3,422,781 $ 5,709,586

Note 7 - Mortgage Notes Payab_2

Note 7 - Mortgage Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Debt [Table Text Block]	Principal as of December 31, December 31, Loan Interest Mortgage note property Notes 2020 2019 Type Rate (1) Maturity Waterman Plaza (3) (6) $ 3,207,952 $ 3,274,097 Variable 4.25 % 4/29/2021 World Plaza (3) (5) 5,802,568 4,979,384 Variable 2.91 % 7/5/2021 Garden Gateway Plaza (3) 5,861,523 6,071,315 Fixed 5.00 % 8/5/2021 300 N.P. 2,273,478 2,311,739 Fixed 4.95 % 6/11/2022 Highland Court (3) 6,274,815 6,424,366 Fixed 3.82 % 9/1/2022 Dakota Center 9,900,279 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 1,760,432 1,813,305 Fixed 3.94 % 1/5/2025 Arapahoe Service Center 7,932,255 8,085,727 Fixed 4.34 % 1/5/2025 Union Town Center 8,315,550 8,440,000 Fixed 4.28 % 1/5/2025 One Park Centre 6,385,166 6,487,532 Fixed 4.77 % 9/5/2025 Genesis Plaza 6,276,273 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) 2,985,998 4,839,577 Fixed 4.83 % 6/1/2027 West Fargo Industrial 4,262,718 4,216,565 Fixed 3.27 % 8/5/2029 Grand Pacific Center (4) 3,738,142 3,851,962 Fixed 4.02 % 8/1/2037 Subtotal, Presidio Property Trust, Inc. Properties $ 92,704,649 $ 110,814,920 Model Home mortgage notes (3) 28,083,356 32,644,129 Fixed (7 ) 2021 2023 Mortgage Notes Payable $ 120,788,005 $ 143,459,049 Unamortized loan costs (758,309 ) (1,066,057 ) Mortgage Notes Payable, net $ 120,029,696 $ 142,392,992
Contractual Obligation, Fiscal Year Maturity [Table Text Block]	Presidio Property Model Trust, Inc. Homes Total Principal Years ending December 31: Notes Payable Notes Payable Payments 2021 $ 16,385,688 $ 10,169,248 $ 26,554,936 2022 9,780,330 11,735,522 21,515,852 2023 1,493,749 6,178,586 7,672,335 2024 10,447,888 — 10,447,888 2025 28,902,297 — 28,902,297 Thereafter 25,694,697 — 25,694,697 Total $ 92,704,649 $ 28,083,356 $ 120,788,005

Note 12 - Share-based Incenti_2

Note 12 - Share-based Incentive Plan (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]	Common Shares Outstanding shares: Balance at December 31, 2019 125,943 Granted 91,173 Forfeited (4,599 ) Vested (86,327 ) Balance at December 31, 2020 126,190

Note 13 - Segments (Tables)

Note 13 - Segments (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	For the Year Ended December 31, 2020 2019 Office/Industrial Properties: Rental, fees and other income $ 17,580,472 $ 21,490,215 Property and related expenses (7,977,561 ) (9,317,720 ) Net operating income, as defined 9,602,911 12,172,495 Model Home Properties: Rental, fees and other income 4,251,980 4,194,489 Property and related expenses (202,667 ) (193,367 ) Net operating income, as defined 4,049,313 4,001,122 Retail Properties: Rental, fees and other income 2,971,125 2,956,407 Property and related expenses (2,368,906 ) (899,487 ) Net operating income, as defined 602,219 2,056,920 Reconciliation to net loss: Total net operating income, as defined, for reportable segments 14,254,443 18,230,537 General and administrative expenses (5,751,754 ) (5,268,315 ) Depreciation and amortization (6,274,321 ) (7,364,688 ) Interest expense (8,813,067 ) (10,649,646 ) Deferred offering costs (530,639 ) — Other income (expense), net (20,636 ) 117,037 Income tax expense (370,884 ) (611,263 ) Gain on sale of real estate 1,245,460 6,319,272 Net loss $ (6,261,398 ) $ 772,934
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	December 31, December 31, Assets by Reportable Segment: 2020 2019 Office/Industrial Properties: Land, buildings and improvements, net (1) $ 99,120,649 $ 126,421,648 Total assets (2) $ 100,046,782 $ 131,180,612 Model Home Properties: Land, buildings and improvements, net (1) $ 42,509,596 $ 48,466,371 Total assets (2) $ 42,246,022 $ 51,389,400 Retail Properties: Land, buildings and improvements, net (1) $ 24,555,371 $ 25,318,601 Total assets (2) $ 26,108,109 $ 26,588,254 Reconciliation to Total Assets: Total assets for reportable segments $ 168,400,913 $ 209,158,266 Other unallocated assets: Cash, cash equivalents and restricted cash 2,149,088 1,591,041 Other assets, net 15,018,615 10,035,101 Total Assets $ 185,568,616 $ 220,784,408
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block]	For the Year Ended December 31, Capital Expenditures by Reportable Segment 2020 2019 Office/Industrial Properties: Capital expenditures and tenant improvements $ 2,825,168 $ 6,373,464 Model Home Properties: Acquisition of operating properties 10,161,613 13,037,562 Retail Properties: Capital expenditures and tenant improvements 9,205 20,247 Totals: Acquisition of operating properties, net 10,161,613 13,037,562 Capital expenditures and tenant improvements 2,834,373 6,393,711 Total real estate investments $ 12,995,986 $ 19,431,273

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation and Amortization (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, by Property [Table Tet Block]	All amounts are in thousands Initial Cost Total Cost (1) Property Name/ Location Encumbrances Land Cost Building & Improvements Acquisition Price Capitalized Improvements Land Cost Building & Improvements Total Cost Accumulated Depreciation & Amortization Reserve for Impairment NBV Real Estate Date Acquired Year Built/ Renovated Garden Gateway, Colorado Springs, CO (2) $ 5,861 $ 3,035 $ 12,091 $ 15,126 $ 3,329 $ 3,035 $ 10,874 $ 17,238 $ 5,774 $ — $ 11,464 03/07 1982/2006 Executive Park, Colorado Springs, CO (2) 2,986 583 8,815 10,081 1,473 583 5,561 7,617 2,510 — 5,107 07/08 2000 Genesis Plaza, San Diego, CA 6,276 1,400 8,600 10,000 2,625 1,400 8,323 12,348 3,697 — 8,651 08/10 1989 Dakota Center, Fargo, ND 9,900 832 8,743 9,575 1,306 832 9,960 12,098 3,500 — 8,598 05/11 1982 Grand Pacific Center, Bismarck, ND 3,738 413 4,926 5,339 904 413 6,099 7,416 1,732 — 5,684 03/14 1976 Arapahoe Center, Centennial, CO 7,932 1,420 10,430 11,850 2,078 1,420 8,857 12,355 3,122 — 9,233 12/14 2000 West Fargo Industrial, Fargo, ND 4,263 1,693 6,207 7,900 264 1,693 6,099 8,056 995 — 7,061 08/15 1998/2005 300 N.P., Fargo, ND 2,274 135 3,715 3,850 319 135 3,589 4,043 764 — 3,279 08/15 1922 Highland Court, Centennial, CO (2) 6,275 3,608 9,442 13,050 3,408 3,608 7,767 14,783 3,883 400 10,500 08/15 1984 One Park Centre, Westminster, CO 6,385 1,206 7,944 9,150 1,952 1,206 7,416 10,574 1,987 — 8,587 08/15 1983 Shea Center II, Highlands Ranch, CO 17,728 2,214 23,747 25,961 6,065 2,214 19,526 27,805 6,779 — 21,026 12/15 2000 Total Office/ Industrial properties 73,618 16,539 104,660 121,882 23,723 16,539 94,071 134,333 34,743 400 99,190 World Plaza , San Bernardino, CA (2) 5,803 1,698 6,232 7,930 1,761 1,698 8,758 12,217 2,246 700 9,271 09/07 1974 Waterman Plaza, San Bernardino, CA (2) 3,208 2,350 4,814 7,164 239 2,383 4,324 6,946 1,282 2,164 3,500 08/08 2008 Union Town Center, Colorado Springs, CO 8,316 1,750 9,462 11,212 513 1,750 8,932 11,195 1,851 — 9,344 12/14 2003 Research Parkway, Colorado Springs, CO 1,760 408 2,442 2,850 43 408 2,349 2,800 361 — 2,439 8/15/2016 2003 Total Retail properties 19,087 6,206 22,950 29,156 2,556 6,239 24,363 33,158 5,740 2,864 24,554 Model Homes -NDMHR, LP 974 534 2,047 2,581 — 534 2,047 2,581 197 — 2,384 2010 2016 2010 2016 Model Homes-DMH LP #202 3,149 741 4,238 4,979 — 741 4,238 4,979 337 — 4,642 2014 2019 2014 2019 Model Homes-DMH LP #203 5,271 1,600 7,132 8,732 — 1,600 7,132 8,732 441 8,291 2016 2020 2016 2020 Model Homes-DMH LP #204 5,385 1,412 6,787 8,199 — 1,412 6,787 8,199 345 7,854 2019 2020 2019 2020 Model Homes-DMH LP #205 5,214 1,461 6,287 7,748 — 1,461 6,287 7,748 179 — 7,569 2020 2020 Model Homes-DMH LP #206 1,696 294 2,181 2,475 — 294 2,181 2,475 27 2,448 2020 2020 Model Homes-NMH Inc. 6,394 1,510 8,190 9,700 — 1,510 8,190 9,700 378 — 9,322 2016 2020 2016 2020 Total Model Home properties 28,083 7,552 36,862 44,414 — 7,552 36,862 44,414 1,904 — 42,510 — CONSOLIDATED TOTALS: $ 120,788 $ 30,297 $ 164,472 $ 195,452 $ 26,279 $ 30,330 $ 155,296 $ 211,905 $ 42,387 $ 3,264 $ 166,254
Schedule of Investment in Real Estate and Accumulated Depreciation [Table Text Block]	For the Year Ended December 31, 2020 2019 Real estate Balance at the beginning of the year $ 244,320,582 $ 254,675,874 Acquisitions 10,161,613 13,037,562 Improvements 2,834,367 6,393,711 Impairments (1,730,851 ) — Dispositions of real estate (46,944,545 ) (29,786,565 ) Balance at the end of the year $ 208,641,166 $ 244,320,582 Accumulated depreciation and amortization Balance at the beginning of the year $ (44,113,962 ) $ (43,567,809 ) Depreciation and amortization expense (5,938,958 ) (6,693,613 ) Dispositions of real estate 7,665,721 6,147,460 Balance at the end of the year $ (42,387,199 ) $ (44,113,962 ) Real estate assets, net $ 166,253,967 $ 200,206,620

Note 1 - Organization and Bas_2

Note 1 - Organization and Basis of Presentation (Details Textual)	Oct. 06, 2020USD ($)$ / sharesshares	Jul. 29, 2020	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2016	Sep. 30, 2020	Sep. 01, 2020USD ($)	Sep. 17, 2019USD ($)	Jan. 23, 2012$ / shares
Number of Real Estate Properties, Fee Simple			14
Number of Limited Liability Companies					4
Number of Limited Partnerships in which Company is Sole General Partner					1
Shares Issued, Price Per Share (in dollars per share) | $ / shares									$ 10
Proceeds from Issuance of Common Stock			$ 2,050,000	$ 0
Long-Term Debt, Maturity, Year One			$ 26,554,936
Number of Reportable Segments			3
Customer Concentration Risk [Member] | Rental Income [Member]
Number of Tenants			1	1
Concentration Risk, Percentage			6.20%	6.10%
Mortgage Notes [Member] | Model Home [Member]
Long-Term Debt, Maturity, Year One			$ 10,200,000
Mortgage Notes [Member] | Commercial Property [Member]
Long-Term Debt, Maturity, Year One			16,400,000
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			$ 7,700,000				$ 8,800,000
Debt Instrument, Renewal Fee Percentage						4.00%		4.00%
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio		2
IPO [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	$ 2,000,000
IPO [Member] | Underwriting Discounts [Member]
Payments of Stock Issuance Costs	500,000
IPO [Member] | Other Expenses [Member]
Payments of Stock Issuance Costs	$ 500,000
Model Home Properties [Member]
Number of Limited Liability Companies			1
Number of Limited Partnerships in which Company is Sole General Partner			6

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Amortization of above and below Market Leases	$ 100,000	$ 100,000
Amortization of Intangible Assets, Total	400,000	600,000
Impairment of Real Estate	1,730,851	0
Impairment of Intangible Assets, Finite-lived	200,000	300,000
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)	0	0
Depreciation, Total	6,300,000	7,400,000
Cash, Uninsured Amount	9,800,000
Restricted Cash, Total	4,100,000
Accounts Receivable, Allowance for Credit Loss, Ending Balance	70,000	21,000
Deferred Costs, Total	1,900,000	2,100,000
Operating Lease, Initial Direct Cost Expense, over Term	400,000	600,000
Amortization of Debt Issuance Costs	1,287,430	965,239
Deferred Offering Costs	100,000
Noninterest Expense Offering Cost	$ 530,639	$ 0
Percentage of Distributed Taxable Income to Qualify as REIT	90.00%
Earnings Per Share, Basic and Diluted, Total (in dollars per share)	$ (0.85)	$ (0.07)
Domestic Tax Authority [Member]
Operating Loss Carryforwards, Total	$ 11,000,000
Series B Preferred Stock [Member]
Unamortized Deferred Stock Costs		$ 100,000
Mortgage Notes [Member]
Debt Issuance Costs, Net, Total	800,000	1,100,000
Amortization of Debt Issuance Costs	400,000	500,000
Notes Payable to Banks [Member] | Polar Multi-Strategy Master Fund [Member]
Debt Issuance Costs, Net, Total	200,000
Amortization of Debt Issuance Costs	$ 900,000	$ 400,000
Building and Building Improvements [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation (Year)	39 years
Waterman Plaza [Member]
Impairment of Real Estate	$ 1,300,000
Highland Court [Member]
Impairment of Real Estate	$ 400,000
Maximum [Member]
Amortization of Value In Place Leases (Year)	10 years
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation (Year)	5 years
Maximum [Member] | Leasehold Improvements [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation (Year)	10 years
Maximum [Member] | Furniture and Fixtures [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation (Year)	5 years
Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation (Year)	1 year
Minimum [Member] | Leasehold Improvements [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation (Year)	1 year
Minimum [Member] | Furniture and Fixtures [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation (Year)	4 years

Note 3 - Recent Real Estate T_2

Note 3 - Recent Real Estate Transactions (Details Textual)	Dec. 02, 2020USD ($)	Mar. 13, 2020USD ($)	Feb. 05, 2020USD ($)	Jul. 31, 2019USD ($)	Jul. 01, 2019USD ($)	May 08, 2019USD ($)	Jan. 15, 2019USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Notes Payable, Total								$ 7,500,086	$ 12,238,692
Discontinued Operations, Disposed of by Sale [Member]
Proceeds from Sale of Real Estate, Total								18,100,000	14,600,000
Gain (Loss) on Sale of Properties								$ 1,600,000	$ 1,200,000
Number of Real Estate Properties	4							46	41
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			$ (900,000)
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		$ 700,000
Executive Office Park [Member]
Number of Real Estate Properties								4
Executive Office Park [Member] | Discontinued Operations, Disposed of by Sale [Member]
Proceeds from Sale of Real Estate, Total	$ 2,300,000
Gain (Loss) on Sale of Properties	$ (78,000)
Number of Real Estate Properties	1							1
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						$ 900,000
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
Model Home [Member]
Number of Real Estate Properties								28	33
Real Estate Property, Consideration Transferred, Total								$ 10,200,000	$ 13,000,000
Payments to Acquire Residential Real Estate								3,100,000	3,900,000
Model Home [Member] | Mortgage Notes [Member]
Notes Payable, Total								$ 7,100,000	$ 9,100,000

Note 4 - Real Estate Assets (De

Note 4 - Real Estate Assets (Details Textual)	12 Months Ended
	Dec. 31, 2020ft²	Dec. 31, 2016	Dec. 02, 2020	Dec. 31, 2019
Number of States Real Estate Property is Located	7
Number of Limited Partnerships in which Company is Sole General Partner		1
Number of Limited Liability Companies		4
Discontinued Operations, Disposed of by Sale [Member]
Number of Real Estate Properties	46		4	41
Model Home [Member]
Number of Real Estate Properties	28			33
Number of Real Estate Properties Held for Sale	7
Executive Office Park [Member]
Number of Real Estate Properties	4
Executive Office Park [Member] | Discontinued Operations, Disposed of by Sale [Member]
Number of Real Estate Properties	1		1
Office/Industrial Properties [Member]
Area of Real Estate Property (Square Foot)	982,796
Office/Industrial Properties [Member] | Industrial Buildings [Member]
Number of Real Estate Properties	1
Office/Industrial Properties [Member] | Office Buildings [Member]
Number of Real Estate Properties	10
Retail Properties [Member]
Number of Real Estate Properties	4
Area of Real Estate Property (Square Foot)	131,722
Model Home [Member]
Number of Real Estate Properties	118
Number of Limited Partnerships in which Company is Sole General Partner	6
Number of Limited Liability Companies	1
Lessee, Operating Lease, Term of Contract (Month)	18 months
NORTH DAKOTA
Number of Real Estate Properties	4

Note 4 - Real Estate Assets - S

Note 4 - Real Estate Assets - Summary of Properties Owned (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Real estate assets owned		$ 166,254	$ 200,207
Garden Gateway Plaza [Member]
Geographic location	[1]	Colorado Springs, Colorado
Real estate assets owned	[1]	$ 11,465	11,428
World Plaza [Member]
Geographic location	[1]	San Bernardino, California
Real estate assets owned	[1]	$ 9,272	8,305
Executive Office Park [Member]
Geographic location	[2]	Colorado Springs, Colorado
Real estate assets owned	[2]	$ 5,106	7,723
Waterman Plaza [Member]
Geographic location	[1]	San Bernardino, California
Real estate assets owned	[1]	$ 3,500	4,889
Genesis Plaza [Member]
Geographic location		San Diego, California
Real estate assets owned		$ 8,651	8,789
Dakota Center [Member]
Geographic location		Fargo, North Dakota
Real estate assets owned		$ 8,597	8,855
Grand Pacific Center [Member]
Geographic location		Bismarck, North Dakota
Real estate assets owned		$ 5,684	5,914
Union Terrace [Member]
Geographic location	[3]	Lakewood, CO
Real estate assets owned	[3]	$ 0	8,425
Centennial Tech Center [Member]
Geographic location	[3]	Colorado Springs, Colorado
Real estate assets owned	[3]	$ 0	13,132
Arapahoe Center [Member]
Geographic location		Centennial, Colorado
Real estate assets owned		$ 9,233	9,748
Union Town Center [Member]
Geographic location		Colorado Springs, Colorado
Real estate assets owned		$ 9,345	9,612
West Fargo Industrial [Member]
Geographic location		Fargo, North Dakota
Real estate assets owned		$ 7,061	7,212
The 300 N.P [Member]
Geographic location		Fargo, North Dakota
Real estate assets owned		$ 3,280	3,405
Research Parkway [Member]
Geographic location		Colorado Springs, Colorado
Real estate assets owned		$ 2,438	2,512
One Park Centre [Member]
Geographic location		Westminster, Colorado
Real estate assets owned		$ 8,586	8,518
Highland Court [Member]
Geographic location	[1]	Centennial, Colorado
Real estate assets owned	[1]	$ 10,500	11,421
Shea Center II [Member]
Geographic location		Highlands Ranch, Colorado
Real estate assets owned		$ 21,026	21,853
Presidio Property Trust, Inc. Properties [Member]
Real estate assets owned		123,744	151,741
Model Home Properties [Member]
Real estate assets owned	[4]	$ 42,510	$ 48,466
[1]	Property held for sale as of December 31, 2020.
[2]	One of four buildings within this property was sold as of December 31, 2020.
[3]	This property was sold during the year ended December 31, 2020.
[4]	Includes seven Model Homes that are listed as held for sale as of December 31, 2020.

Note 4 - Real Estate Assets - F

Note 4 - Real Estate Assets - Future Minimum Rental Revenues (Details)	Dec. 31, 2020USD ($)
Office/Industrial and Retail Properties [Member]
2021	$ 3,259,261
2022	3,406,500
2023	2,564,601
2024	1,211,331
2025	1,526,142
Thereafter	2,477,552
Totals	14,445,387
Model Home Properties [Member]
2021	2,784,108
2022	696,768
Totals	$ 3,480,876

Note 5 - Lease Intangibles (Det

Note 5 - Lease Intangibles (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets, Gross, Total	$ 5,200,728	$ 7,631,488
Finite-Lived Intangible Assets, Accumulated Amortization	4,559,510	5,526,477
Below Market Lease, Net, Ending Balance	$ 139,045	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	$ 1,100,000	3,400,000
Finite-Lived Intangible Assets, Accumulated Amortization	$ 1,100,000	$ 2,400,000

Note 5 - Lease Intangibles - Ne

Note 5 - Lease Intangibles - Net Value of Other Intangibles (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Lease intangibles, gross	$ 5,200,728	$ 7,631,488
Accumulated Amortization	(4,559,510)	(5,526,477)
Lease Intangibles, net	641,218	2,105,011
Leases, Acquired-in-Place [Member]
Lease intangibles, gross	3,136,587	4,360,027
Accumulated Amortization	(2,757,530)	(3,283,027)
Lease Intangibles, net	379,057	1,077,000
Leasing Costs [Member]
Lease intangibles, gross	1,730,656	2,937,976
Accumulated Amortization	(1,510,559)	(2,002,711)
Lease Intangibles, net	220,097	935,265
Above Market Lease [Member]
Lease intangibles, gross	333,485	333,485
Accumulated Amortization	(291,421)	(240,739)
Lease Intangibles, net	$ 42,064	$ 92,746

Note 5 - Lease Intangibles - Am

Note 5 - Lease Intangibles - Amortization Expense (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
2021	$ 372,484
2022	202,479
2023	17,663
2024	17,663
2025	17,663
Thereafter	13,266
Total	$ 641,218	$ 2,105,011

Note 6 - Other Assets - Other A

Note 6 - Other Assets - Other Assets (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Deferred offering costs	$ 100,000
Total other assets	3,422,781	$ 5,709,586
Other Assets [Member]
Deferred rent receivable	1,912,048	2,680,886
Prepaid expenses, deposits and other	299,187	601,897
Accounts receivable, net	541,885	1,336,122
Right-of-use assets, net	102,144	561,375
Other intangibles, net	142,483	212,932
Notes receivable	316,374	316,374
Deferred offering costs	108,660	0
Total other assets	$ 3,422,781	$ 5,709,586

Note 7 - Mortgage Notes Payab_3

Note 7 - Mortgage Notes Payable (Details Textual)		12 Months Ended
		Dec. 31, 2020	Dec. 02, 2020	Dec. 31, 2019
Discontinued Operations, Disposed of by Sale [Member]
Number of Real Estate Properties		46	4	41
Executive Office Park [Member]
Number of Real Estate Properties		4
Executive Office Park [Member] | Discontinued Operations, Disposed of by Sale [Member]
Number of Real Estate Properties		1	1
Executive Office Park [Member] | Mortgage Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	[1],[2]	4.83%
World Plaza [Member] | Mortgage Notes [Member]
Debt, Weighted Average Interest Rate		3.37%
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%
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%
Model Home [Member]
Number of Real Estate Properties		28		33
Model Home [Member] | Mortgage Notes [Member] | Minimum [Member]
Debt Instrument, Interest Rate, Stated Percentage		2.50%
Model Home [Member] | Mortgage Notes [Member] | Maximum [Member]
Debt Instrument, Interest Rate, Stated Percentage		5.60%
[1]	Interest rates as of December 31, 2020.
[2]	Properties held for sale as of December 31, 2020. Seven model homes were included as held for sale.

Note 7 - Mortgage Notes Payab_4

Note 7 - Mortgage Notes Payable - Mortgage Notes Payable (Details) - USD ($)		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Mortgage Notes Payable, net		$ 120,029,696	$ 142,392,992
Mortgage Notes [Member]
Mortgage Notes Payable		120,788,005	143,459,049
Unamortized loan costs		(758,309)	(1,066,057)
Waterman Plaza [Member] | Mortgage Notes [Member]
Mortgage Notes Payable	[1],[2]	$ 3,207,952	3,274,097
Interest rate, variable	[1],[2],[3]	4.25%
Maturity date	[1],[2]	Apr. 29, 2021
World Plaza [Member] | Mortgage Notes [Member]
Mortgage Notes Payable	[2],[4]	$ 5,802,568	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]	$ 5,861,523	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		$ 2,273,478	2,311,739
Maturity date		Jun. 11, 2022
Interest rate	[3]	4.95%
Highland Court [Member] | Mortgage Notes [Member]
Mortgage Notes Payable		$ 6,274,815	6,424,366
Maturity date		Sep. 1, 2022
Interest rate	[3]	3.82%
Dakota Center [Member] | Mortgage Notes [Member]
Mortgage Notes Payable		$ 9,900,279	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		$ 1,760,432	1,813,305
Maturity date		Jan. 5, 2025
Interest rate	[3]	3.94%
Arapahoe Center [Member] | Mortgage Notes [Member]
Mortgage Notes Payable		$ 7,932,255	8,085,727
Maturity date		Jan. 5, 2025
Interest rate	[3]	4.34%
Union Town Center [Member] | Mortgage Notes [Member]
Mortgage Notes Payable		$ 8,315,550	8,440,000
Maturity date		Jan. 5, 2025
Interest rate	[3]	4.28%
One Park Centre [Member] | Mortgage Notes [Member]
Mortgage Notes Payable		$ 6,385,166	6,487,532
Maturity date		Sep. 5, 2025
Interest rate	[3]	4.77%
Genesis Plaza [Member] | Mortgage Notes [Member]
Mortgage Notes Payable		$ 6,276,273	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]	$ 2,985,998	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		$ 4,262,718	4,216,565
Maturity date		Aug. 5, 2029
Interest rate	[3]	3.27%
Grand Pacific Center [Member] | Mortgage Notes [Member]
Mortgage Notes Payable	[6]	$ 3,738,142	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		$ 92,704,649	110,814,920
Model Home [Member] | Mortgage Notes [Member]
Mortgage Notes Payable	[2],[7]	$ 28,083,356	$ 32,644,129
Model Home [Member] | Mortgage Notes [Member] | Minimum [Member]
Maturity date	[2],[7]	Dec. 31, 2023
Interest rate		2.50%
Model Home [Member] | Mortgage Notes [Member] | Maximum [Member]
Maturity date	[2],[7]	Dec. 31, 2021
Interest rate		5.60%
[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 December 31, 2020. Seven model homes were included as held for sale.
[3]	Interest rates as of December 31, 2020.
[4]	Interest on this loan is ABR + 0.75% and LIBOR plus 2.75%. For the year-ended December 31, 2020, the weighted average interest rate was 3.37%.
[5]	Property sold during the year ended December 31, 2020, see Footnote 3 above for further detail. One of four buildings at Executive Office Park were sold.
[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 2.5% to 5.6% at December 31, 2020.

Note 7 - Mortgage Notes Payab_5

Note 7 - Mortgage Notes Payable - Scheduled Principal Payments of Mortgage Notes Payable (Details)	Dec. 31, 2020USD ($)
2021	$ 26,554,936
2022	21,515,852
2023	7,672,335
2024	10,447,888
2025	28,902,297
Thereafter	25,694,697
Total	120,788,005
Office/Industrial and Retail Notes Payable [Member]
2021	16,385,688
2022	9,780,330
2023	1,493,749
2024	10,447,888
2025	28,902,297
Thereafter	25,694,697
Total	92,704,649
Model Home Properies Notes Payable [Member]
2021	10,169,248
2022	11,735,522
2023	6,178,586
2024	0
2025	0
Thereafter	0
Total	$ 28,083,356

Note 8 - Notes Payable (Details

Note 8 - Notes Payable (Details Textual) - USD ($)	Aug. 17, 2020	Apr. 30, 2020	Apr. 22, 2020	Jan. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2020	Sep. 01, 2020	Sep. 17, 2019
Amortization of Debt Issuance Costs					$ 1,287,430	$ 965,239
Payments of Extension Costs on Note Payable					351,025	$ 0
Economic Injury Disaster Loan [Member]
Proceeds from Issuance of Unsecured Debt	$ 200,000		$ 10,000
Economic Injury Disaster Loan [Member] | Subsequent Event [Member]
Debt Instrument, Decrease, Forgiveness				$ 10,000
Economic Injury Disaster Loan [Member] | Accounts Payable and Accrued Liabilities [Member]
Unsecured Debt, Total					10,000
SBA CARES Act Paycheck Protection Program [Member]
Proceeds from Issuance of Unsecured Debt		$ 500,000
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					7,700,000			$ 8,800,000
Debt Instrument, Renewal Fee Percentage							4.00%		4.00%
Repayments of Notes Payable, Including Interest					6,300,000
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					900,000
Payments of Extension Costs on Note Payable					400,000
Amortization of Extension Costs on Notes Payable					$ 200,000
Debt Instrument, Covenant, Debt to Property Fair Value Ratio									75.00%

Note 9 - Series B Mandatorily_2

Note 9 - Series B Mandatorily Redeemable Preferred Stock (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Interest Expense, Total	$ 8,813,067	$ 10,649,646
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
Interest Expense, Total	$ 0	$ 100,000
Unamortized Deferred Stock Costs	$ 0	$ 0
Preferred Stock, Shares Issued, Total (in shares)	0	0

Note 11 - Stockholders' Equity

Note 11 - Stockholders' Equity (Details Textual)	Jan. 23, 2012USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2016
Preferred Stock, Shares Authorized (in shares)		1,000,000
Maximum Individual Common Stock Ownership, Percentage		9.80%
Dividends, Common Stock, Cash | $		$ 1,000,000	$ 1,100,000
Common Stock, Dividends, Per Share, Cash Paid (in dollars per share) | $ / shares		$ 0.10	$ 0.12
Payments of Dividends, Total | $		$ 1,000,000	$ 2,200,000
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
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	$ 10
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)		1,834,147
Common Stock [Member]
Stock Issued During Period, Shares, New Issues (in shares)		59,274
Noncontrolling Interest [Member]
Minority Interest, Decrease from Issuance of Stock for Limited Partnership Interests | $		$ 1,247,990
Commercial Property [Member] | Wholly Owned Properties [Member]
Number of Real Estate Properties		15
Commercial Property [Member] | Partially Owned Properties [Member]
Number of Real Estate Properties		2
Redeemable Convertible Preferred Stock Series B [Member]
Preferred Stock, Shares Issued, Total (in shares)		0	0
Preferred Stock, Shares Outstanding, Ending Balance (in shares)		0	0
Common Class A [Member]
Common Stock, Shares Authorized (in shares)		100,000,000	100,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares		$ 0.01	$ 0.01
Common Stock, Shares, Issued, Total (in shares)		9,508,363	8,881,842
Common Class B [Member]
Common Stock, Shares Authorized (in shares)		1,000
Common Stock, Shares, Issued, Total (in shares)		0
Common Class C [Member]
Common Stock, Shares Authorized (in shares)		9,000,000
Common Stock, Shares, Issued, Total (in shares)		0
Common Stock, Number of Entitled Votes		1

Note 12 - Share-based Incenti_3

Note 12 - Share-based Incentive Plan (Details Textual) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Jan. 23, 2012	Dec. 31, 2006
Shares Issued, Price Per Share (in dollars per share)			$ 10
Share-based Payment Arrangement, Expense	$ 1.1	$ 0.8
Restricted Stock [Member]
Shares Issued, Price Per Share (in dollars per share)				$ 20
Nonvested Resctricted Stock [Member]
Restricted Stock, Value, Shares Issued Net of Tax Withholdings	$ 0.9	$ 1.7
Minimum [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	3 years
Minimum [Member] | Nonvested Resctricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	1 year
Maximum [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	10 years
Maximum [Member] | Nonvested Resctricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	7 years

Note 12 - Share-based Incenti_4

Note 12 - Share-based Incentive Plan - Summary of Activity for Restricted Stock (Details) - Restricted Stock [Member]	12 Months Ended
	Dec. 31, 2020shares
Balance (in shares)	125,943
Granted (in shares)	91,173
Forfeited (in shares)	(4,599)
Vested (in shares)	(86,327)
Balance (in shares)	126,190

Note 13 - Segments (Details Tex

Note 13 - Segments (Details Textual)	12 Months Ended
	Dec. 31, 2020
Number of Reportable Segments	3

Note 13 - Segments - Operating

Note 13 - Segments - Operating Income by Segment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Rental, fees and other income	$ 24,351,792	$ 28,641,111
Property and related expenses	(8,818,283)	(10,410,574)
General and administrative expenses	(5,751,754)	(5,268,315)
Depreciation and amortization	(6,274,321)	(7,364,688)
Interest expense	(8,813,067)	(10,649,646)
Deferred offering costs	(530,639)	0
Other income (expense), net	(20,636)	117,037
Income tax expense	(370,884)	(611,263)
Gain on sale of real estate	1,245,460	6,319,272
Net loss	(6,261,398)	772,934
Operating Segments [Member]
Net operating income, as defined	14,254,443	18,230,537
Office/Industrial Properties [Member] | Operating Segments [Member]
Rental, fees and other income	17,580,472	21,490,215
Property and related expenses	(7,977,561)	(9,317,720)
Net operating income, as defined	9,602,911	12,172,495
Model Home Properties [Member] | Operating Segments [Member]
Rental, fees and other income	4,251,980	4,194,489
Property and related expenses	(202,667)	(193,367)
Net operating income, as defined	4,049,313	4,001,122
Retail Properties [Member] | Operating Segments [Member]
Rental, fees and other income	2,971,125	2,956,407
Property and related expenses	(2,368,906)	(899,487)
Net operating income, as defined	$ 602,219	$ 2,056,920

Note 13 - Segments - Assets by

Note 13 - Segments - Assets by Reportable Segment (Details) - USD ($)		Dec. 31, 2020	Dec. 31, 2019
Land, buildings and improvements, net		$ 166,253,967	$ 200,206,620
Total assets		185,568,616	220,784,408
Cash, cash equivalents and restricted cash		11,540,917	10,391,275
Other assets, net		3,422,781	5,709,586
Operating Segments [Member]
Total assets		168,400,913	209,158,266
Segment Reconciling Items [Member]
Total assets		185,568,616	220,784,408
Cash, cash equivalents and restricted cash		2,149,088	1,591,041
Other assets, net		15,018,615	10,035,101
Office/Industrial Properties [Member] | Operating Segments [Member]
Land, buildings and improvements, net	[1]	99,120,649	126,421,648
Total assets	[2]	100,046,782	131,180,612
Model Home Properties [Member] | Operating Segments [Member]
Land, buildings and improvements, net	[1]	42,509,596	48,466,371
Total assets	[2]	42,246,022	51,389,400
Retail Properties [Member] | Operating Segments [Member]
Land, buildings and improvements, net	[1]	24,555,371	25,318,601
Total assets	[2]	$ 26,108,109	$ 26,588,254
[1]	Includes lease intangibles and the land purchase option related to property acquisitions.
[2]	Includes land, buildings and improvements, current receivables, deferred rent receivables and deferred leasing costs and other related intangible assets, all shown on a net basis.

Note 13 - Segments - Capital Ex

Note 13 - Segments - Capital Expenditures by Reportable Segment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Capital expenditures and tenant improvements	$ 2,834,373	$ 6,393,711
Acquisition of operating properties	10,161,613	13,037,562
Total real estate investments	12,995,986	19,431,273
Office/Industrial Properties [Member]
Capital expenditures and tenant improvements	2,825,168	6,373,464
Model Home Properties [Member]
Acquisition of operating properties	10,161,613	13,037,562
Retail Properties [Member]
Capital expenditures and tenant improvements	$ 9,205	$ 20,247

Note 14 - Subsequent Events (De

Note 14 - Subsequent Events (Details Textual) - Subsequent Event [Member] - USD ($) $ / shares in Units, $ in Millions	Feb. 23, 2021	Feb. 19, 2021	Feb. 09, 2021	Jan. 28, 2021	Mar. 30, 2021
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 0.101
Dividends Payable, Date to be Paid	Mar. 16, 2021
Dividends Payable, Date of Record	Mar. 9, 2021
Polar Multi-Strategy Master Fund [Member] | Notes Payable to Banks [Member]
Repayments of Long-term Debt, Total					$ 7.7
Waterman Plaza [Member]
Proceeds from Sale of Real Estate, Total				$ 3.5
Garden Gateway [Member]
Proceeds from Sale of Real Estate, Total		$ 11.2	$ 11.2

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation and Amortization (Details Textual) - USD ($) $ in Millions	Feb. 19, 2021	Feb. 09, 2021	Jan. 28, 2021	Dec. 31, 2020
Subsequent Event [Member] | Waterman Plaza [Member]
Proceeds from Sale of Real Estate, Total			$ 3.5
Subsequent Event [Member] | Garden Gateway [Member]
Proceeds from Sale of Real Estate, Total	$ 11.2	$ 11.2
Building and Building Improvements [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation (Year)				39 years

Schedule III - Real Estate an_4

Schedule III - Real Estate and Accumulated Depreciation and Amortization - Properties (Details) - USD ($)		Dec. 31, 2020		Dec. 31, 2019	Dec. 31, 2018
Encumbrances		$ 120,788,000
Land, Initial Cost		30,297,000
Building and Improvements, Initial Cost		164,472,000
Acquisition Price		195,452,000
Capitalized Improvements		26,279,000
Land Cost, Total Cost		30,330,000
Building & Improvements, Total Cost		155,296,000
Total cost		211,905,000
Accumulated Depreciation & Depreciation		42,387,199	[1]	$ 44,113,962	$ 43,567,809
Reserve for Impairment		3,264,000
NBV Real Estate		166,254,000
Industrial Office Properties [Member]
Encumbrances		73,618,000
Land, Initial Cost		16,539,000
Building and Improvements, Initial Cost		104,660,000
Acquisition Price		121,882,000
Capitalized Improvements		23,723,000
Land Cost, Total Cost		16,539,000
Building & Improvements, Total Cost		94,071,000
Total cost		134,333,000
Accumulated Depreciation & Depreciation	[1]	34,743,000
Reserve for Impairment		400,000
NBV Real Estate		99,190,000
Industrial Office Properties [Member] | Garden Gateway [Member]
Encumbrances	[2],[3]	5,861,000
Land, Initial Cost	[2],[3]	3,035,000
Building and Improvements, Initial Cost	[2],[3]	12,091,000
Acquisition Price	[2],[3]	15,126,000
Capitalized Improvements	[2],[3]	3,329,000
Land Cost, Total Cost	[2],[3]	3,035,000
Building & Improvements, Total Cost	[2],[3]	10,874,000
Total cost	[2],[3]	17,238,000
Accumulated Depreciation & Depreciation	[1],[2],[3]	5,774,000
Reserve for Impairment	[2],[3]	0
NBV Real Estate	[2],[3]	11,464,000
Industrial Office Properties [Member] | Executive Park [Member]
Encumbrances		2,986,000
Land, Initial Cost		583,000
Building and Improvements, Initial Cost		8,815,000
Acquisition Price		10,081,000
Capitalized Improvements		1,473,000
Land Cost, Total Cost		583,000
Building & Improvements, Total Cost		5,561,000
Total cost		7,617,000
Accumulated Depreciation & Depreciation	[1]	2,510,000
Reserve for Impairment		0
NBV Real Estate		5,107,000
Industrial Office Properties [Member] | Genesis Plaza [Member]
Encumbrances		6,276,000
Land, Initial Cost		1,400,000
Building and Improvements, Initial Cost		8,600,000
Acquisition Price		10,000,000
Capitalized Improvements		2,625,000
Land Cost, Total Cost		1,400,000
Building & Improvements, Total Cost		8,323,000
Total cost		12,348,000
Accumulated Depreciation & Depreciation	[1]	3,697,000
Reserve for Impairment		0
NBV Real Estate		8,651,000
Industrial Office Properties [Member] | Dakota Center [Member]
Encumbrances		9,900,000
Land, Initial Cost		832,000
Building and Improvements, Initial Cost		8,743,000
Acquisition Price		9,575,000
Capitalized Improvements		1,306,000
Land Cost, Total Cost		832,000
Building & Improvements, Total Cost		9,960,000
Total cost		12,098,000
Accumulated Depreciation & Depreciation	[1]	3,500,000
Reserve for Impairment		0
NBV Real Estate		8,598,000
Industrial Office Properties [Member] | Grand Pacific Center [Member]
Encumbrances		3,738,000
Land, Initial Cost		413,000
Building and Improvements, Initial Cost		4,926,000
Acquisition Price		5,339,000
Capitalized Improvements		904,000
Land Cost, Total Cost		413,000
Building & Improvements, Total Cost		6,099,000
Total cost		7,416,000
Accumulated Depreciation & Depreciation	[1]	1,732,000
Reserve for Impairment		0
NBV Real Estate		5,684,000
Industrial Office Properties [Member] | Arapahoe Center [Member]
Encumbrances		7,932,000
Land, Initial Cost		1,420,000
Building and Improvements, Initial Cost		10,430,000
Acquisition Price		11,850,000
Capitalized Improvements		2,078,000
Land Cost, Total Cost		1,420,000
Building & Improvements, Total Cost		8,857,000
Total cost		12,355,000
Accumulated Depreciation & Depreciation	[1]	3,122,000
Reserve for Impairment		0
NBV Real Estate		9,233,000
Industrial Office Properties [Member] | West Fargo Industrial [Member]
Encumbrances		4,263,000
Land, Initial Cost		1,693,000
Building and Improvements, Initial Cost		6,207,000
Acquisition Price		7,900,000
Capitalized Improvements		264,000
Land Cost, Total Cost		1,693,000
Building & Improvements, Total Cost		6,099,000
Total cost		8,056,000
Accumulated Depreciation & Depreciation	[1]	995,000
Reserve for Impairment		0
NBV Real Estate		7,061,000
Industrial Office Properties [Member] | The 300 N.P [Member]
Encumbrances		2,274,000
Land, Initial Cost		135,000
Building and Improvements, Initial Cost		3,715,000
Acquisition Price		3,850,000
Capitalized Improvements		319,000
Land Cost, Total Cost		135,000
Building & Improvements, Total Cost		3,589,000
Total cost		4,043,000
Accumulated Depreciation & Depreciation	[1]	764,000
Reserve for Impairment		0
NBV Real Estate		3,279,000
Industrial Office Properties [Member] | Highland Court [Member]
Encumbrances		6,275,000
Land, Initial Cost		3,608,000
Building and Improvements, Initial Cost		9,442,000
Acquisition Price		13,050,000
Capitalized Improvements		3,408,000
Land Cost, Total Cost		3,608,000
Building & Improvements, Total Cost		7,767,000
Total cost		14,783,000
Accumulated Depreciation & Depreciation	[1]	3,883,000
Reserve for Impairment		400,000
NBV Real Estate		10,500,000
Industrial Office Properties [Member] | One Park Centre [Member]
Encumbrances		6,385,000
Land, Initial Cost		1,206,000
Building and Improvements, Initial Cost		7,944,000
Acquisition Price		9,150,000
Capitalized Improvements		1,952,000
Land Cost, Total Cost		1,206,000
Building & Improvements, Total Cost		7,416,000
Total cost		10,574,000
Accumulated Depreciation & Depreciation	[1]	1,987,000
Reserve for Impairment		0
NBV Real Estate		8,587,000
Industrial Office Properties [Member] | Shea Center II [Member]
Encumbrances		17,728,000
Land, Initial Cost		2,214,000
Building and Improvements, Initial Cost		23,747,000
Acquisition Price		25,961,000
Capitalized Improvements		6,065,000
Land Cost, Total Cost		2,214,000
Building & Improvements, Total Cost		19,526,000
Total cost		27,805,000
Accumulated Depreciation & Depreciation	[1]	6,779,000
Reserve for Impairment		0
NBV Real Estate		21,026,000
Retail Properties [Member]
Encumbrances		19,087,000
Land, Initial Cost		6,206,000
Building and Improvements, Initial Cost		22,950,000
Acquisition Price		29,156,000
Capitalized Improvements		2,556,000
Land Cost, Total Cost		6,239,000
Building & Improvements, Total Cost		24,363,000
Total cost		33,158,000
Accumulated Depreciation & Depreciation	[1]	5,740,000
Reserve for Impairment		2,864,000
NBV Real Estate		24,554,000
Retail Properties [Member] | World Plaza [Member]
Encumbrances	[3]	5,803,000
Land, Initial Cost	[3]	1,698,000
Building and Improvements, Initial Cost	[3]	6,232,000
Acquisition Price	[3]	7,930,000
Capitalized Improvements	[3]	1,761,000
Land Cost, Total Cost	[3]	1,698,000
Building & Improvements, Total Cost	[3]	8,758,000
Total cost	[3]	12,217,000
Accumulated Depreciation & Depreciation	[1],[3]	2,246,000
Reserve for Impairment	[3]	700,000
NBV Real Estate	[3]	9,271,000
Retail Properties [Member] | Waterman Plaza [Member]
Encumbrances	[4]	3,208,000
Land, Initial Cost	[4]	2,350,000
Building and Improvements, Initial Cost	[4]	4,814,000
Acquisition Price	[4]	7,164,000
Capitalized Improvements	[4]	239,000
Land Cost, Total Cost	[4]	2,383,000
Building & Improvements, Total Cost	[4]	4,324,000
Total cost	[4]	6,946,000
Accumulated Depreciation & Depreciation	[1],[4]	1,282,000
Reserve for Impairment	[4]	2,164,000
NBV Real Estate	[4]	3,500,000
Retail Properties [Member] | Union Town Center [Member]
Encumbrances		8,316,000
Land, Initial Cost		1,750,000
Building and Improvements, Initial Cost		9,462,000
Acquisition Price		11,212,000
Capitalized Improvements		513,000
Land Cost, Total Cost		1,750,000
Building & Improvements, Total Cost		8,932,000
Total cost		11,195,000
Accumulated Depreciation & Depreciation	[1]	1,851,000
Reserve for Impairment		0
NBV Real Estate		9,344,000
Retail Properties [Member] | Research Parkway [Member]
Encumbrances		1,760,000
Land, Initial Cost		408,000
Building and Improvements, Initial Cost		2,442,000
Acquisition Price		2,850,000
Capitalized Improvements		43,000
Land Cost, Total Cost		408,000
Building & Improvements, Total Cost		2,349,000
Total cost		2,800,000
Accumulated Depreciation & Depreciation	[1]	361,000
Reserve for Impairment		0
NBV Real Estate		2,439,000
Model Home [Member]
Encumbrances		28,083,000
Land, Initial Cost		7,552,000
Building and Improvements, Initial Cost		36,862,000
Acquisition Price		44,414,000
Land Cost, Total Cost		7,552,000
Building & Improvements, Total Cost		36,862,000
Total cost		44,414,000
Accumulated Depreciation & Depreciation	[1]	1,904,000
NBV Real Estate		42,510,000
Model Home [Member] | Model Homes -NDMHR, LP [Member]
Encumbrances		974,000
Land, Initial Cost		534,000
Building and Improvements, Initial Cost		2,047,000
Acquisition Price		2,581,000
Land Cost, Total Cost		534,000
Building & Improvements, Total Cost		2,047,000
Total cost		2,581,000
Accumulated Depreciation & Depreciation	[1]	197,000
NBV Real Estate		2,384,000
Model Home [Member] | Model Homes-DMH LP #202 [Member]
Encumbrances		3,149,000
Land, Initial Cost		741,000
Building and Improvements, Initial Cost		4,238,000
Acquisition Price		4,979,000
Land Cost, Total Cost		741,000
Building & Improvements, Total Cost		4,238,000
Total cost		4,979,000
Accumulated Depreciation & Depreciation	[1]	337,000
NBV Real Estate		4,642,000
Model Home [Member] | Model Homes-DMH LP #203 [Member]
Encumbrances		5,271,000
Land, Initial Cost		1,600,000
Building and Improvements, Initial Cost		7,132,000
Acquisition Price		8,732,000
Land Cost, Total Cost		1,600,000
Building & Improvements, Total Cost		7,132,000
Total cost		8,732,000
Accumulated Depreciation & Depreciation	[1]	441,000
NBV Real Estate		8,291,000
Model Home [Member] | Model Homes-DMH LP #204 [Member]
Encumbrances		5,385,000
Land, Initial Cost		1,412,000
Building and Improvements, Initial Cost		6,787,000
Acquisition Price		8,199,000
Land Cost, Total Cost		1,412,000
Building & Improvements, Total Cost		6,787,000
Total cost		8,199,000
Accumulated Depreciation & Depreciation	[1]	345,000
NBV Real Estate		7,854,000
Model Home [Member] | Model Homes-DMH LP #205 [Member]
Encumbrances		5,214,000
Land, Initial Cost		1,461,000
Building and Improvements, Initial Cost		6,287,000
Acquisition Price		7,748,000
Land Cost, Total Cost		1,461,000
Building & Improvements, Total Cost		6,287,000
Total cost		7,748,000
Accumulated Depreciation & Depreciation	[1]	179,000
NBV Real Estate		7,569,000
Model Home [Member] | Model Homes-DMH LP #206 [Member]
Encumbrances		1,696,000
Land, Initial Cost		294,000
Building and Improvements, Initial Cost		2,181,000
Acquisition Price		2,475,000
Land Cost, Total Cost		294,000
Building & Improvements, Total Cost		2,181,000
Total cost		2,475,000
Accumulated Depreciation & Depreciation	[1]	27,000
NBV Real Estate		2,448,000
Model Home [Member] | Model Homes-NMH Inc. [Member]
Encumbrances		6,394,000
Land, Initial Cost		1,510,000
Building and Improvements, Initial Cost		8,190,000
Acquisition Price		9,700,000
Land Cost, Total Cost		1,510,000
Building & Improvements, Total Cost		8,190,000
Total cost		9,700,000
Accumulated Depreciation & Depreciation	[1]	378,000
NBV Real Estate		$ 9,322,000
[1]	Depreciation is computed on a straight-line basis using useful lives up to 39 years.
[2]	Garden Gateway sold for approximately $11.2 million on February 19, 2021.
[3]	Property held for sale as of December 31, 2020.
[4]	Waterman Plaza sold for approximately $3.5 million on January 28, 2021.

Schedule III - Real Estate an_5

Schedule III - Real Estate and Accumulated Depreciation and Amortization - Balances (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020		Dec. 31, 2019
Balance at the beginning of the year	$ 244,320,582		$ 254,675,874
Acquisitions	10,161,613		13,037,562
Improvements	2,834,367		6,393,711
Impairments	(1,730,851)		0
Dispositions of real estate	(46,944,545)		(29,786,565)
Balance at the end of the year	208,641,166		244,320,582
Balance at the beginning of the year	(44,113,962)		(43,567,809)
Depreciation and amortization expense	(5,938,958)		(6,693,613)
Dispositions of real estate	7,665,721		6,147,460
Balance at the end of the year	(42,387,199)	[1]	(44,113,962)
Real estate assets, net	$ 166,253,967		$ 200,206,620
[1]	Depreciation is computed on a straight-line basis using useful lives up to 39 years.