Presidio Property Trust (SQFT) 10-Q 14 Nov 23 2023 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Nov. 13, 2023
Document Information [Line Items]
Entity Central Index Key	0001080657
Entity Registrant Name	Presidio Property Trust, Inc.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-34049
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	33-0841255
Entity Address, Address Line One	4995 Murphy Canyon Road, Suite 300
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92123
City Area Code	760
Local Phone Number	471-8536
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		13,129,943
Series A Common Stock Purchase Warrants [Member]
Document Information [Line Items]
Title of 12(b) Security	Series A Common Stock Purchase Warrants
Trading Symbol	SQFTW
Security Exchange Name	NASDAQ
Series D Preferred Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	9.375% Series D Cumulative Redeemable Perpetual Preferred Stock
Trading Symbol	SQFTP
Security Exchange Name	NASDAQ
Common Class A [Member]
Document Information [Line Items]
Title of 12(b) Security	Series A Common Stock
Trading Symbol	SQFT
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
ASSETS
Land	$ 20,580,587	$ 19,189,386
Buildings and improvements	133,531,747	125,979,374
Tenant improvements	15,636,305	13,861,839
Lease intangibles	4,110,139	4,110,139
Real estate assets and lease intangibles held for investment, cost	173,858,778	163,140,738
Accumulated depreciation and amortization	(37,845,097)	(34,644,511)
Real estate assets and lease intangibles held for investment, net	136,013,681	128,496,227
Real estate assets held for sale, net	2,434,624	2,016,003
Real estate assets, net	138,448,305	130,512,230
Other assets:
Cash, cash equivalents and restricted cash	7,778,764	16,516,725
Deferred leasing costs, net	1,501,812	1,516,835
Goodwill	2,423,000	2,423,000
Investment in Conduit Pharmaceuticals marketable securities (see Notes 2 & 9)	23,996,141	0
Other assets, net (see Note 6)	3,785,367	3,511,681
Total other assets	39,485,084	23,968,241
Investments held in Trust (see Notes 2 & 9)	0	136,871,183
TOTAL ASSETS	177,933,389	291,351,654
Liabilities:
Mortgage notes payable, net	101,059,368	95,899,176
Mortgage notes payable related to properties held for sale, net	1,428,848	999,523
Mortgage notes payable, total net	102,488,216	96,898,699
Accounts payable and accrued liabilities	5,294,349	4,028,564
Accounts payable and accrued liabilities of SPAC (see Notes 2 & 9)	0	5,046,725
Accrued real estate taxes	1,506,532	1,879,875
Dividends payable	478,253	178,511
Lease liability, net	23,989	46,833
Below-market leases, net	14,509	18,240
Total liabilities	109,805,848	108,097,447
Commitments and contingencies (Note 2 & 9):
Equity:
Additional paid-in capital	181,483,892	182,044,157
Dividends and accumulated losses	(121,638,764)	(138,341,750)
Total stockholders' equity before noncontrolling interest	59,972,714	43,829,626
Noncontrolling interest	8,154,827	9,013,446
Total equity	68,127,541	52,843,072
TOTAL LIABILITIES AND EQUITY	177,933,389	291,351,654
Common Class A [Member]
Liabilities:
Dividends payable	302,495
Equity:
Series A Common Stock, $0.01 par value per share, shares authorized: 100,000,000; 11,859,726 shares and 11,807,893 shares were issued and outstanding at September 30, 2023 and December 31, 2022, respectively	118,597	118,079
Common Class A [Member] | SPAC, Murphy Canyon Acquisition Corp. [Member]
Liabilities:
SPAC Class A common stock subject to possible redemption; none as of September 30, 2023 and 13,225,000 shares as of December 31, 2022 (at $10.45 per share), net of issuance cost of approximately $6,400,000	0	130,411,135
Series D Preferred Stock [Member]
Liabilities:
Dividends payable	175,758
Equity:
Series D Preferred Stock, $0.01 par value per share; 1,000,000 shares authorized; 898,940 shares issued and outstanding (liquidation preference $25.00 per share) as of September 30, 2023 and 913,987 shares issued and outstanding as of December 31, 2022	$ 8,989	$ 9,140

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Preferred stock, shares authorized (in shares)	1,000,000
Common Class A [Member]
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)	11,859,726	11,807,893
Common stock, shares outstanding (in shares)	11,859,726	11,807,893
Common Class A [Member] | SPAC, Murphy Canyon Acquisition Corp. [Member]
Temporary equity shares outstanding (in shares)	0	13,225,000
Temporary equity per share (in dollars per share)	$ 10.45	$ 10.45
Temporary equity issuance cost	$ 6,400,000	$ 6,400,000
Series D Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	898,940	913,987
Preferred stock, shares outstanding (in shares)	898,940	913,987
Preferred stock, liquidation preference (in dollars per share)	$ 25	$ 25

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudted) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Rental income	$ 4,262,790	$ 4,243,887	$ 12,534,431	$ 12,884,280
Fees and other income	221,384	148,088	615,107	401,697
Total revenue	4,484,174	4,391,975	13,149,538	13,285,977
Costs and expenses:
Rental operating costs	1,478,479	1,434,225	4,452,628	4,365,781
General and administrative	1,635,610	1,509,139	5,413,413	4,306,835
Depreciation and amortization	1,351,705	1,318,164	4,054,109	3,973,582
Total costs and expenses	4,465,794	4,261,528	13,920,150	12,646,198
Other income (expense):
Interest and other income, net	254,486	590,586	1,394,687	757,318
Gain on sales of real estate, net	757,285	1,307,258	2,294,574	4,057,527
Loss on Conduit marketable securities	(17,682,154)	0	(17,682,154)	0
Gain on deconsolidation of SPAC	40,321,483	0	40,321,483	0
Income tax expense	(134,620)	(294,996)	(632,147)	(819,520)
Total other income, net	22,141,281	220,728	22,117,062	509,632
Net income	22,159,661	351,175	21,346,450	1,149,411
Less: Income attributable to noncontrolling interests	(673,279)	(1,114,928)	(2,155,212)	(3,032,806)
Net income (loss) attributable to Presidio Property Trust, Inc. stockholders	21,486,382	(763,753)	19,191,238	(1,883,395)
Less: Preferred Stock Series D dividends	(527,873)	(538,286)	(1,595,606)	(1,616,397)
Less: Series A Warrant dividend	0	0	0	(2,456,512)
Net income (loss) attributable to Presidio Property Trust, Inc. common stockholders	$ 20,958,509	$ (1,302,039)	$ 17,595,632	$ (5,956,304)
Net loss per share attributable to Presidio Property Trust, Inc. common stockholders:
Basic & Diluted (in dollars per share)	$ 1.77	$ (0.11)	$ 1.49	$ (0.51)
Weighted average number of common shares outstanding - basic & dilutive (in shares)	11,851,343	11,780,090	11,841,847	11,784,500
Mortgage Notes [Member]
Other income (expense):
Interest expense	$ (1,375,199)	$ (1,382,120)	$ (3,579,381)	$ (3,485,693)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($)	Common Class A [Member] Preferred Stock [Member]	Common Class A [Member] Common Stock [Member]	Common Class A [Member] Additional Paid-in Capital [Member]	Common Class A [Member] Retained Earnings [Member]	Common Class A [Member] Parent [Member]	Common Class A [Member] Noncontrolling Interest [Member]	Common Class A [Member]	Series D Preferred Stock [Member] Preferred Stock [Member]	Series D Preferred Stock [Member] Common Stock [Member]	Series D Preferred Stock [Member] Additional Paid-in Capital [Member]	Series D Preferred Stock [Member] Retained Earnings [Member]	Series D Preferred Stock [Member] Parent [Member]	Series D Preferred Stock [Member] Noncontrolling Interest [Member]	Series D Preferred Stock [Member]	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Parent [Member]	Noncontrolling Interest [Member]	Total
Balance (in shares) at Dec. 31, 2021															920,000	11,599,720
Balance at Dec. 31, 2021															$ 9,200	$ 115,997	$ 186,492,012	$ (130,947,434)	$ 55,669,775	$ 9,812,845	$ 65,482,620
Net income															0	0	0	(828,486)	(828,486)	1,208,676	380,190
Dividends paid to Series A common stockholders	$ 0	$ 0	$ 0	$ (1,298,252)	$ (1,298,252)	$ 0	$ (1,298,252)
Dividends to Series D preferred stockholders								$ 0	$ 0	$ 0	$ (539,056)	$ (539,056)	$ 0	$ (539,056)
Distributions in excess of contributions received															$ 0	$ 0	0	0	0	(258,410)	(258,410)
Vesting of restricted stock (in shares)															0	196,250
Vesting of restricted stock															$ 0	$ 1,963	762,423	0	764,386	0	764,386
Remeasurement of SPAC common stock subject to possible redemption upon IPO, Public Warrants and Private Placement Units, net of offering costs															$ 0	$ 0	(4,023,113)	0	(4,023,113)	0	(4,023,113)
Balance (in shares) at Mar. 31, 2022															920,000	11,795,970
Balance at Mar. 31, 2022															$ 9,200	$ 117,960	183,231,322	(133,613,228)	49,745,254	10,763,111	60,508,365
Balance (in shares) at Dec. 31, 2021															920,000	11,599,720
Balance at Dec. 31, 2021															$ 9,200	$ 115,997	186,492,012	(130,947,434)	55,669,775	9,812,845	65,482,620
Net income																					1,149,411
Balance (in shares) at Sep. 30, 2022															916,061	11,655,583
Balance at Sep. 30, 2022															$ 9,161	$ 116,556	182,235,077	(137,304,308)	45,056,486	9,032,953	54,089,439
Balance (in shares) at Mar. 31, 2022															920,000	11,795,970
Balance at Mar. 31, 2022															$ 9,200	$ 117,960	183,231,322	(133,613,228)	49,745,254	10,763,111	60,508,365
Net income															0	0	0	(291,156)	(291,156)	709,202	418,046
Dividends paid to Series A common stockholders	$ 0	$ 0	0	(1,311,202)	(1,311,202)	0	(1,311,202)
Dividends to Series D preferred stockholders								$ 0	$ 0	0	(539,056)	(539,056)	0	(539,056)
Distributions in excess of contributions received															$ 0	$ 0	0	0	0	(2,355,942)	(2,355,942)
Repurchase of Stock, at cost (in shares)															0	(10,411)
Repurchase of Stock, at cost															$ 0	$ (104)	(30,625)	0	(30,729)	0	(30,729)
Vesting of restricted stock (in shares)															0	8,198
Vesting of restricted stock															$ 0	$ 82	27,955	0	28,037	0	28,037
Remeasurement of SPAC common stock subject to possible redemption upon IPO, Public Warrants and Private Placement Units, net of offering costs															$ 0	$ 0	(101,767)	0	(101,767)	0	(101,767)
Balance (in shares) at Jun. 30, 2022															920,000	11,793,757
Balance at Jun. 30, 2022															$ 9,200	$ 117,938	183,126,885	(135,754,642)	47,499,381	9,116,371	56,615,752
Net income															0	0	0	(763,753)	(763,753)	1,114,928	351,175
Dividends paid to Series A common stockholders															0	0	0	(247,627)	(247,627)	0	(247,627)
Dividends to Series D preferred stockholders															0	0	0	(538,286)	(538,286)	0	(538,286)
Distributions in excess of contributions received															$ 0	$ 0	0	0	0	(1,198,346)	(1,198,346)
Repurchase of Stock, at cost (in shares)	0	(151,194)						(3,939)	0
Repurchase of Stock, at cost	$ 0	$ (1,512)	(245,455)	0	(246,967)	0	(246,967)	$ (39)	$ 0	(84,347)	0	(84,386)		(84,386)
Vesting of restricted stock (in shares)															0	13,020
Vesting of restricted stock															$ 0	$ 130	47,914	0	48,044	0	48,044
Remeasurement of SPAC common stock subject to possible redemption upon IPO, Public Warrants and Private Placement Units, net of offering costs															$ 0	$ 0	(609,920)	0	(609,920)	0	(609,920)
Balance (in shares) at Sep. 30, 2022															916,061	11,655,583
Balance at Sep. 30, 2022															$ 9,161	$ 116,556	182,235,077	(137,304,308)	45,056,486	9,032,953	54,089,439
Balance (in shares) at Dec. 31, 2022															913,987	11,807,893
Balance at Dec. 31, 2022															$ 9,140	$ 118,079	182,044,157	(138,341,750)	43,829,626	9,013,446	52,843,072
Net income															0	0	0	(995,540)	(995,540)	387,081	(608,459)
Dividends paid to Series A common stockholders	$ 0	$ 0	$ 0	$ (287,655)	$ (287,655)	$ 0	$ (287,655)
Dividends to Series D preferred stockholders								$ 0	$ 0	0	(535,448)	(535,448)	0	(535,448)
Distributions in excess of contributions received															0	0	0	0	0	(518,642)	(518,642)
Remeasurement of SPAC shares to redemption value															0	0	(158,900)	0	(158,900)	0	(158,900)
Accrued excise tax on SPAC redemptions															$ 0	$ 0	(1,140,683)	0	(1,140,683)	0	(1,140,683)
Repurchase of Stock, at cost (in shares)								(386)	0
Repurchase of Stock, at cost								$ (4)	$ 0	(6,943)	0	(6,947)	0	(6,947)
Vesting of Common Stock (in shares)															0	27,371
Vesting of Common Stock															$ 0	$ 274	28,466	0	28,740	0	28,740
Balance (in shares) at Mar. 31, 2023															913,601	11,835,264
Balance at Mar. 31, 2023															$ 9,136	$ 118,353	180,766,097	(140,160,393)	40,733,193	8,881,885	49,615,078
Balance (in shares) at Dec. 31, 2022															913,987	11,807,893
Balance at Dec. 31, 2022															$ 9,140	$ 118,079	182,044,157	(138,341,750)	43,829,626	9,013,446	52,843,072
Net income																					21,346,450
Balance (in shares) at Sep. 30, 2023															898,940	11,859,726
Balance at Sep. 30, 2023															$ 8,989	$ 118,597	181,483,892	(121,638,764)	59,972,714	8,154,827	68,127,541
Balance (in shares) at Mar. 31, 2023															913,601	11,835,264
Balance at Mar. 31, 2023															$ 9,136	$ 118,353	180,766,097	(140,160,393)	40,733,193	8,881,885	49,615,078
Net income															0	0	0	(1,299,604)	(1,299,604)	1,094,852	(204,752)
Dividends paid to Series A common stockholders															0	0	0	(302,496)	(302,496)	0	(302,496)
Dividends to Series D preferred stockholders															0	0	0	(532,285)	(532,285)	0	(532,285)
Distributions in excess of contributions received															0	0	0	0	0	(1,442,668)	(1,442,668)
Remeasurement of SPAC shares to redemption value															$ 0	$ 0	(247,094)	0	(247,094)	0	(247,094)
Repurchase of Stock, at cost (in shares)								(12,226)	0
Repurchase of Stock, at cost								$ (122)	$ 0	(204,803)	0	(204,925)	0	(204,925)
Vesting of Common Stock (in shares)															0	14,446
Vesting of Common Stock															$ 0	$ 144	50,855	0	50,999	0	50,999
Balance (in shares) at Jun. 30, 2023															901,375	11,849,710
Balance at Jun. 30, 2023															$ 9,014	$ 118,497	180,365,055	(142,294,778)	38,197,788	8,534,069	46,731,857
Net income															0	0	0	21,486,382	21,486,382	673,279	22,159,661
Dividends paid to Series A common stockholders															0	0	0	(302,495)	(302,495)	0	(302,495)
Dividends to Series D preferred stockholders															0	0	0	(527,873)	(527,873)	0	(527,873)
Distributions in excess of contributions received															$ 0	$ 0	0	0	0	(1,052,521)	(1,052,521)
Repurchase of Stock, at cost (in shares)								(2,435)	0
Repurchase of Stock, at cost								$ (25)	$ 0	$ (38,873)	$ 0	$ (38,898)	$ 0	$ (38,898)
Vesting of restricted stock (in shares)															0	10,016
Vesting of restricted stock															$ 0	$ 100	17,027	0	17,127	0	17,127
Reversal of accrued excise tax on SPAC redemptions prior to deconsolidation															$ 0	$ 0	1,140,683	0	1,140,683	0	1,140,683
Balance (in shares) at Sep. 30, 2023															898,940	11,859,726
Balance at Sep. 30, 2023															$ 8,989	$ 118,597	$ 181,483,892	$ (121,638,764)	$ 59,972,714	$ 8,154,827	$ 68,127,541

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income	$ 21,346,450	$ 1,149,411
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	4,054,109	3,973,582
Stock compensation	828,193	861,837
Bad debt expense	27,729	11,116
Gain on sale of real estate assets, net	(2,294,574)	(4,057,527)
Gain on deconsolidation of SPAC investment	(40,321,483)	0
Net change in fair value marketable securities	(169,530)	70,183
Net change in fair value SPAC Trust Account	(1,209,542)	(811,687)
Amortization of financing costs	263,863	180,250
Amortization of below-market leases	(3,731)	(41,167)
Straight-line rent adjustment	(280,619)	(148,181)
Changes in operating assets and liabilities:
Other assets	(92,877)	585,984
Accounts payable and accrued liabilities	378,761	245,652
Accounts payable and accrued liabilities for the SPAC	652,577	316,128
Accrued real estate taxes	(373,343)	(447,279)
Net cash provided by operating activities	488,137	1,888,302
Cash flows from investing activities:
Real estate acquisitions	(13,715,923)	(8,087,250)
Additions to buildings and tenant improvements	(2,817,786)	(1,939,712)
Investment in marketable securities	(2,083,328)	(1,243,672)
Proceeds from sale of marketable securities	2,302,456	1,787,695
Investment of SPAC IPO proceeds into Trust Account	(624,998)	(134,895,000)
Withdrawals from Trust Account for SPAC taxes	832,480	0
Withdrawals from Trust Account for Redemption of SPAC Shares	137,157,011	0
Deletions / (additions) to deferred leasing costs	5,808	(53,377)
Proceeds from sales of real estate, net	7,113,065	20,603,179
Net cash provided by (used in) investing activities	128,168,785	(123,828,137)
Cash flows from financing activities:
Proceeds from mortgage notes payable, net of issuance costs	13,400,934	14,992,425
Repayment of mortgage notes payable	(7,885,953)	(9,586,079)
Payment of deferred offering costs	0	(3,201,266)
Distributions to noncontrolling interests, net	(3,013,831)	(3,812,698)
Proceeds from initial public offering of SPAC	0	132,859,920
SPAC offering non-controlling interest adjustment	0	(609,920)
Redemption of SPAC shares	(137,157,011)	0
Repurchase of Series A Common Stock, at cost	0	(277,696)
Dividends paid to Series D Preferred Stockholders	(1,595,606)	(1,616,398)
Dividends paid to Series A Common Stockholders	(892,646)	(2,857,081)
Net cash (used in) provided by financing activities	(137,394,883)	125,806,821
Net (decrease) increase in cash equivalents and restricted cash	(8,737,961)	3,866,986
Cash, cash equivalents and restricted cash - beginning of period	16,516,725	14,702,089
Cash, cash equivalents and restricted cash - end of period	$ 7,778,764	$ 18,569,075
Non-cash financing activities:
Potentially convertible common stock for SPAC (in shares)	0	134,895,000
Dividends payable	$ 478,253
Dividends payable	478,253
Mortgage Notes [Member]
Supplemental disclosure of cash flow information:
Interest paid	3,637,980	$ 3,038,713
Series D Preferred Stock [Member]
Cash flows from financing activities:
Repurchase of Series D Preferred Stock, at cost	(250,770)	(84,386)
Non-cash financing activities:
Dividends payable	175,758	178,916
Dividends payable	175,758	178,916
Common Class A [Member]
Non-cash financing activities:
Dividends payable	302,495	0
Dividends payable	302,495	0
Conduit Pharmaceuticals Inc [Member]
Adjustments to reconcile net income to net cash provided by operating activities:
Net change in fair value marketable securities	$ 17,682,154	$ 0

Note 1 - Organization

Note 1 - Organization	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Organization September 28, 1999, August 2010, October 2017, two The Company or one • The Company is the sole general partner and limited partner in two September 30, 2023 • The Company is the general and limit ed partner in five #202, #203, #204, #205, #206, The Company has determined that the limited partnerships in which it owns less than 100% We have elected to be taxed as a REIT under Sections 856 860 1986, 90% not We, together with one no Liquidity. The Company's anticipated future sources of liquidity may not may Short-term liquidity needs include paying our current operating costs, satisfying the debt service requirements of existing mortgages, completing ten ant improvements, paying leasing commissions, and funding dividends to stockholders. Future principal payments due on mortgage notes payables, during the fourth 2023 , of which is related to model home properties. Management expects certain model home properties can be sold, and that the underlying mortgage notes will be paid off with sales proceeds while other mortgage notes can be refinanced, as the Company has historically been able to do in the past. Additional principal payments will be made with cash flows from ongoing operations. As the Company continues its operations, it may no not twelve The Company served as the sponsor of the former special purpose acquisition company Murphy Canyon Acquisition Corp. ("Murphy Canyon" or the “SPAC”) since its creation in October 2021 September 22, 2023, September 30, 2023.

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. There have been no 10 December 31, 2022 December 31, 2022 10 March 28, 2023. Basis of Presentation. 10 8 X. September 30, 2023 December 31, 2022 three nine September 30, 2023 2022 not may December 31, 2023 10 December 31, 2022 December 31, 2022 10 March 28, 2023. Principles of Consolidation , and the partnerships. All significant intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated financial statements also include the accounts of (a) Murphy Canyon up until September 22, 2023. three 2, September 22, 2023, The Company classifies the noncontrolling interests in the NetREIT Partnerships as part of consolid ated net (loss) income in 2023 2022 ncluded the accumulated amount of noncontrolling interests as part of equity since inception in February 2010. not Use of Estimates 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 property 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, but are not enant’s credit quality, and other factors. The value attributable 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 l ease. 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 $1,200 and $3,700 for the three nine September 30, 2023 . Amortization of above and below-market rents resulted in a net increase in rental income of approximately $14,000 and $41,000 for the three nine September 30, 2022 . The value of in-place leases and unamortized lease origination costs a re amortized to expenses over the remaining term of the respective leases, which range fro m less than a year to ten third $4,300 and $13,100 for the three nine September 30, 2023 . Amortization expenses related to these assets was approximately $50,000 and $152,300 for the three nine September 30, 2022 . Deferred Leasing Costs. Costs incurred in connection with successful property leases are capitalized as deferred leasing costs and amortized to leasing commission expense on a straight-line basis over the terms of the related leases which generally range from one five party leasing commissions. Management re-evaluates the remaining useful lives of leasing costs as the creditworthiness of the tenants and economic an d market conditions change. If management determines the estimated remaining life of the respective lease has changed, the amortization period is adjusted. At September 30, 2023 and December 31, 2022 , the Company had net deferred leasing costs of approxima tely $1.5 million and $1.5 million, respectively. Total amortization expense for the three nine September 30, 2023 , was approximately and $352,000. Total amortization expense for the three nine September 30, 2022 , was approximately Cash Equivalents and Restricted Cash. September 30, 2023 December 31, 2022 proximately and in cash, cash equivalents and restricted cash, respectively, of which approximately and represented restricted cash, respectively. The Company considers all short-term, highly liquid investments that are both readily convertible to cash and have an original maturity of three may $250,000 No September 30, 2023 and December 31, 2022 , the Company had approximately and , respectively, in deposits in financial institutions that exceeded the federally insurab Real Estate Held for Sale and Discontinued Operations. one is classified as “real estate held for sale” for all prior periods presented in the accompanying condensed consolidated financial statements. Mortgage notes payable related to the real estate sold during the current period are classified as “notes payable related to real estate held for sale” for all prior periods presented in the accompanying condensed consolidated financial statements. Additionally, we record the operating results related to real estate that has been disposed of as discontinued operations for all periods presented if the operations have been eliminated and represent a strategic shift and we will not September 30, 2023 , no model homes were classified as held for sale. Deferred Offering Costs. Deferred offering costs represent legal, accounting and other direct costs related to our offerings. As of September 30, 2023 and December 31, 2022 , we have not the end of each period. Impairments of Real Estate Assets. We regularly review for impairment on a property-by-property basis. Impairment is recognized on a property held for use when the expected undiscounted cash flows for a property are les not Properties held for sale are recorded at the lower of the carrying amount or the expected sales price less costs to sell. Although our strategy is to hold our properties over the long-term, if our strategy changes or market conditions otherwise dictate an earlier sale date, an impairment loss may Fair Value Measurements • Level 1: • Level 2: not • Level 3: no When available, we utilize quoted market prices from independent third 1 2 . not not Additionally, in an inactive market, a market price quoted from an independent third may third not September 30, 2023 December 31, 2022 1 1 September 30, 2023 December 31, 2022 1 2022 03 Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions September 30, 2023 180 March 20, 2024. no September 30, 2023 December 31, 2022 . Earnings per share ( EPS ). 260, two two Dilutive common stock equivalents include the dilutive effect of in-the-money stock equivalents, which are calculated based on the average share price for each period using the treasury stock method, excluding any common stock equivalents if their effect would be anti-dilutive. In periods in which a net loss has been incurred, all potentially dilutive common stock shares are considered anti-dilutive and thus are excluded from the calculation. Securities that are excluded from the calculation of weighted average dilutive common stock, because their inclusion would have been antidilutive, are: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Common Stock Warrants 2,000,000 2,000,000 2,000,000 2,000,000 Placement Agent Warrants 80,000 80,000 80,000 80,000 Series A Warrants 14,450,069 14,450,069 14,450,069 14,450,069 Unvested Common Stock Grants 1,292,238 577,563 1,292,238 577,563 Total potentially dilutive shares 17,822,307 17,107,632 17,822,307 17,107,632 Variable Interest Entity. first We analyze any investments in VIEs to determine if we are the primary beneficiary. In evaluating whether we are the primary beneficiary, we evaluate our direct and indirect economic interests in the entity. A reporting entity is determined to be the primary beneficiary if it holds a controlling financial interest in the VIE. Determining which reporting entity, if any, has a controlling financial interest in a VIE is primarily a qualitative approach focused on identifying which reporting entity has both: (i) the power to direct the activities of a VIE that most significantly impact such entity’s economic performance; and (ii) the obligation to absorb losses or the right to receive benefits from such entity that could potentially be significant to such entity. Performance of that analysis requires the exercise of judgment. We consider a variety of factors in identifying the entity that holds the power to direct matters that most significantly impact the VIE’s economic performance, including, but not The Company was involved in the formation of an entity considered to be a VIE, prior to September 22, 2023, 810 not Following the completion of the Murphy Canyon IPO in January 2022, not not 480 10 S99 3A. 9 Shares Subject to Possible Redemption 470 20. 480 10 S99. three March 31, 2022, September 22, 2023 9 Excise Tax . 2022, January 2023. not September 22, 2023, January 2023 September 22, 2023. Warrant Instruments SPAC. 480 815, 815 40 840 no not September 22, 2023, no See Note 9 Subsequent Events. We evaluate subsequen t events up until the date the condensed consolidated financial statements are issued. Recently Issued and Adopted Accounting Pronouncements. In June 2022, No. 2022 03, Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, 1 820, 2 3 820. not not 1. The fair value of equity securities subject to contractual sale restrictions reflected in the balance sheet, 2. The nature and remaining duration of the restriction(s), and 3. The circumstances that could cause a lapse in the restriction(s). For public business entities, the amendments in this ASU are effective for fiscal years beginning after December 15, 2023, December 15, 2024, not three September 30, 2023 September 30, 2023.

Note 3 - Recent Real Estate Tra

Note 3 - Recent Real Estate Transactions	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Real Estate Disclosure [Text Block]	3. Acquisitions during the nine September 30, 2023 : • The Company acquired 25 model homes for approximately $13.7 million. The purchase price was paid through cash payments of approximately $4.2 million and mortgage notes of approximately $9.5 million. Acquisitions during the nine September 30, 2022 • Th e Company acquired model homes for approximately . These acquisitions were paid for with approximately in cash payments and approximately in mortgage loans. Dispositions during the nine September 30, 2023 : • The Company sold 15 model homes for approximately $7.8 million and recognized a gain of approximately $2.3 million. Dispositions during the nine September 30, 2022 • The Company sold World Plaza, on March 11, 2022, • The Company sold 25 model homes for approximately $13.5 million and recognized a gain of approximately $4.3 million.

Note 4 - Real Estate Assets

Note 4 - Real Estate Assets	9 Months Ended
	Sep. 30, 2023
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 triple-net leased model home properties. We have five four one one one five September 30, 2023 • Eight office buildings and one industrial property (“Office/Industrial Properties”) which total approximately 758,356 rentable square feet; • Three retail shopping centers (“Retail Properties”) which total approximately 65,242 rentable square feet; and • 102 model home residential properties (“Model Homes” or “Model Home Properties”), totaling approximately 309,257 square feet, leased back on a triple-net basis to homebuilders, that are owned by five one A summary of the properties owned by the Company as of September 30, 2023 December 31, 2022 Date Real estate assets, net Property Name Acquired Location September 30, 2023 December 31, 2022 Genesis Plaza (1) August 2010 San Diego, CA $ 7,697,493 $ 7,995,980 Dakota Center May 2011 Fargo, ND 8,923,571 8,569,537 Grand Pacific Center (2) March 2014 Bismarck, ND 6,084,032 5,228,006 Arapahoe Center December 2014 Centennial, CO 8,565,680 8,664,604 Union Town Center December 2014 Colorado Springs, CO 8,969,912 9,039,039 West Fargo Industrial August 2015 Fargo, ND 6,874,243 6,893,292 300 N.P. August 2015 Fargo, ND 2,801,682 2,899,694 Research Parkway August 2015 Colorado Springs, CO 2,273,906 2,319,588 One Park Center August 2015 Westminster, CO 7,754,915 7,991,809 Shea Center II December 2015 Highlands Ranch, CO 19,274,869 19,501,998 Mandolin (3) August 2021 Houston, TX 4,715,201 4,783,985 Baltimore December 2021 Baltimore, MD 8,522,343 8,690,874 Presidio Property Trust, Inc. properties 92,457,847 92,578,406 Model Home properties (4) 2017 2023 AZ, FL, IL, TX, WI 45,990,458 37,933,824 Total real estate assets and lease intangibles, net $ 138,448,305 $ 130,512,230 ( 1 Genesis Plaza is owned by two ( 2 Grand Pacific Center property and entered into a 10 ( 3 Mandolin is owned by NetREIT Palm Self-Storage LP, through its wholly owned subsidiary NetREIT Highland LLC, and the Company is the sole general partner and owns 61.3% of NetREIT Palm Self-Storage LP. ( 4 Includes Model Homes listed as held for sale as of September 30, 2023 . and December 31, 2022 , respectively.

Note 5 - Lease Intangibles

Note 5 - Lease Intangibles	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	5. The following table summarizes the net value of other intangible assets acquired and the accumulated amortization for each class of intangible asset: September 30, 2023 December 31, 2022 Lease Intangibles Accumulated Amortization Lease Intangibles, net Lease Intangibles Accumulated Amortization Lease Intangibles, net In-place leases $ 2,515,264 $ (2,492,570 ) $ 22,694 $ 2,515,264 $ (2,485,234 ) $ 30,030 Leasing costs 1,261,390 (1,242,399 ) 18,991 1,261,390 (1,236,591 ) 24,799 Above-market leases 333,485 (333,485 ) — 333,485 (333,485 ) — $ 4,110,139 $ (4,068,454 ) $ 41,685 $ 4,110,139 $ (4,055,310 ) $ 54,829 At September 30, 2023 December 31, 2022 The net value of acquired intangible liabilities was approximately $14,509 and $18,240 relating to below-market leases at September 30, 2023 December 31, 2022 Future aggregate approximate amortization expense for the Company's lease intangible assets is as follows: 2023 $ 4,382 2024 17,526 2025 15,670 2026 4,107 Total $ 41,685

Note 6 - Other Assets

Note 6 - Other Assets	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Other Assets Disclosure [Text Block]	6. Other assets consist of the following: September 30, December 31, 2023 2022 Deferred rent receivable $ 1,922,450 $ 1,641,831 Investment in marketable securities (not including Conduit) 614,063 797,749 Prepaid expenses, deposits and other 522,828 619,621 Notes receivable 316,374 316,374 Accounts receivable, net 386,318 67,780 Right-of-use assets, net 23,334 45,843 Other intangibles, net - 22,483 Total other assets $ 3,785,367 $ 3,511,681 Periodically, the Company may third not 815 not may no may As of September 30, 2023 September 30, 2023 September 30, 2023 s. As of December 31, 2022 , we owned common shares of different publicly traded REITs and an immaterial amount of covered call options in three of those same REITs. The gross fair market value on our publicly traded REIT securities was , with covered call options totaling . As of December 31, 2022 , the net fair value of our publicly traded REIT securities was based on the December 31, 2022 closing prices.

Note 7 - Mortgage Notes Payable

Note 7 - Mortgage Notes Payable	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Mortgage Notes Payable Disclosure [Text Block]	7. Mortgage notes payable consist of the following: Principal as of September 30, December 31, Loan Interest Mortgage note property 2023 2022 Type Rate (1) Maturity Dakota Center 9,260,159 9,442,976 Fixed 4.74 % 7/6/2024 Research Parkway 1,603,836 1,648,237 Fixed 3.94 % 1/5/2025 Arapahoe Service Center 7,471,082 7,602,273 Fixed 4.34 % 1/5/2025 Union Town Center 7,910,038 8,025,300 Fixed 4.28 % 1/5/2025 One Park Centre 6,074,444 6,163,177 Fixed 4.77 % 9/5/2025 Genesis Plaza 5,967,580 6,055,682 Fixed 4.71 % 9/6/2025 Shea Center II 17,022,587 17,229,573 Fixed 4.92 % 1/5/2026 West Fargo Industrial (2) 3,942,804 4,030,297 Fixed 6.70 % 8/5/2029 Grand Pacific Center (3) 3,806,187 3,496,330 Fixed 6.35 % 5/5/2033 Baltimore 5,670,000 5,670,000 Fixed 4.67 % 4/6/2032 Mandolin 3,589,108 3,635,362 Fixed 4.35 % 4/20/2029 Subtotal, Presidio Property Trust, Inc. Properties $ 72,317,825 $ 72,999,207 Model Home mortgage notes (4) 30,948,811 24,752,448 Fixed 2023 2028 Mortgage Notes Payable $ 103,266,636 $ 97,751,655 Unamortized loan costs (778,420 ) (852,956 ) Mortgage Notes Payable, net $ 102,488,216 $ 96,898,699 ( 1 Interest rates as of September 30, 2023 ( 2 On August 5, 2023, may, not sixty 60 August 5, 2023, August 5, 2026, three no ( 3 On May 5, 2023, first 60 first 60 September 30, 2023 not ( 4 As of September 30, 2023 m 2.50% to 7.12% per annu September 30, 2023 The Company is in compliance with all material conditions and covenants of its mortgage notes payable. Scheduled principal payments of mortgage notes payable were as follows as of September 30, 2023 Presidio Property Model Trust, Inc. Homes Total Principal Years ending December 31: Notes Payable Notes Payable Payments 2023 $ 355,896 $ 3,074,354 $ 3,430,250 2024 10,401,908 11,571,492 21,973,400 2025 28,773,285 10,467,724 39,241,009 2026 16,651,242 165,968 16,817,210 2027 294,780 165,968 460,748 Thereafter 15,840,714 5,503,305 21,344,019 Total $ 72,317,825 $ 30,948,811 $ 103,266,636

Note 8 - Notes Payable

Note 8 - Notes Payable	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	8. On April 22, 2020, 19 not no 2020. August 17, 2020, twelve 3.75% August 17, 2050. 19 As of September 30, 2023 , three 202 204 three August 2024 December 2025. On August 17, 2021, August 17, 2022. April 2022, third On December 20, 2021, December 20, 2022. March 2022, third

Note 9 - Commitments and Contin

Note 9 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	9. COMMITMENTS AND CONTINGENCIES The Company is obligated under certain tenant leases to fund tenant improvements and the expansion of the underlying leased properties. As of September 30, 2023 , approximately $4.2 million is estimated for such capital expenditures on existing properties, net of any construction financing, during the rest of the year. Litigation. may Environmental Matters. no not not not Financial Markets. may may not Sponsorship of Special Purpose Acquisition Company January 7, 2022, one three one 480 The Murphy Canyon IPO of 13,225,000 units of common stock and warrants, closed on February 7, 2022, On November 8, 2022, Initially, the SPAC was required to complete its initial business combination transaction by 12 18 January 26, 2023, 12 one February 7, 2023, February 7, 2024. one one third 1% February 2023. On January 27, 2023, one May 11, 2023 no 419 1933, May 31, 2023, February 7, 2024. The investments held in Trust for the SPAC Class A common stockholders generated approximately $1.2 million of income during the nine September 30, 2023 nine September 30, 2022 September 30, 2022 first nine first February 2022, not nine September 30, 2022 September 22, 2023, As of immediately prior to the consummation of the SPAC's business combination, which occurred on September 22, 2023, September 22, 2023. On September 22, 2023, September 30, 2023, Following the completion of the Murphy Canyon IPO in February 2022, not September 22, 2023, no no September 22, 2023, September 22, 2023. Since deconsolidating Conduit, on September 22, 2023, 1 2022 03 Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions September 30, 2023 180 March 20, 2024.

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Equity [Text Block]	10. Preferred Stock. may one On June 15, 2021, June 17, 2021, Dividends: Holders of shares of the Series D Preferred Stock are entitled to receive cumulative cash dividends at a rate of 9.375% per annum of the $25.00 per share liquidation preference (equivalent to $2.34375 per annum per share). Dividends will be payable monthly on the 15th not may Voting Rights: Holders of shares of the Series D Preferred Stock will generally have no not eighteen not may two In addition, the affirmative vote of the holders of at least two may Liquidation Preference In the event of the Company’s voluntary or involuntary liquidation, dissolution or winding up, the holders of shares of Series D Preferred Stock will be entitled to be paid out of the assets the Company has legally available for distribution to its stockholders, subject to the preferential rights of the holders of any class or series of its stock the Company may $25.00 not may In the event that, upon any such voluntary or involuntary liquidation, dissolution or winding up, the Company’s available assets are insufficient to pay the amount of the liquidating distributions on all outstanding shares of Series D Preferred Stock and the corresponding amounts payable on all shares of other classes or series of the Company’s stock that it issues ranking on parity with the Series D Preferred Stock in the distribution of assets, then the holders of the Series D Preferred Stock and all other such classes or series of stock shall share ratably in any such distribution of assets in proportion to the full liquidating distributions to which they would otherwise be respectively entitled. Redemption: Commencing on or after June 15, 2026, may not June 15, 2026, may $25.00 not no not not In accordance with the terms of the Series D Preferred Stock, the Series D monthly dividend has been approved by the Board of Directors through December 2023 15th nine September 30, 2023 2022 Common Stock. not one not not one On July 12, 2021, August 2021 five In connection with this additional offering, we agreed to issue the Placement Agent Warrants to purchase up to 80,000 shares of Series A Common Stock, representing 4.0% of the Series A Common Stock and shares of Series A Common Stock issuable upon exercise of the Pre-Funded Warrant. The Placement Agent Warrants were issued in August 2021, five The Company evaluated the accounting guidance in ASC 480 815 September 30, 2023 none Stock Repurchase Program September 17, 2021, September 2022. September 15, 2022, September, 2023. December 31, 2022, nine September 30, 2023 not Cash Dividends on Common Stock. three nine September 30, 2023 three nine September 30, 2022 no nine September 30, 2023 2022 Series A Common Stock Quarter Ended 2023 2022 Distributions Declared Distributions Declared March 31 $ 0.022 $ 0.105 June 30 0.023 0.106 September 30 0.023 0.020 Total $ 0.068 $ 0.231 Series D Preferred Stock Month 2023 2022 Distributions Declared Distributions Declared January $ 0.19531 $ 0.19531 February 0.19531 0.19531 March 0.19531 0.19531 April 0.19531 0.19531 May 0.19531 0.19531 June 0.19531 0.19531 July 0.19531 0.19531 August 0.19531 0.19531 September 0.19531 0.19531 Total $ 1.75779 $ 1.75779 Warrant Dividend. January 2022, January 21, 2022. January 24, 2022 January 14, 2022 January 21, 2022. one five not 1/10 Partnership Interests. 12 two five first five one Dividend Reinvestment Plan. may thirty January 23, 2012, December 7, 2018 October 6, 2020 September 30, 2023 No 2018.

Note 11 - Share-based Incentive

Note 11 - Share-based Incentive Plan	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	11. The Company maintains a restricted stock incentive plan for the purpose of attracting and retaining officers, employees, and non-employee board members. Share awards generally vest in equal annual installments over a three ten During our Annual Stockholders meeting, held on June 1, 2023, 2017 April 1st October 1st 15% 15% A summary of the activity for the Company’s restricted stock was as follows: Outstanding shares: Common Shares Balance at December 31, 2022 349,042 Granted 1,006,430 Forfeited (11,401 ) Vested (51,833 ) Balance at September 30, 2023 1,292,238 The non-vested restricted shares outstanding as of September 30, 2023 one five Share-based compensation expense was approximately $0.3 million and $0.3 million for the quarter ended September 30, 2023 September 30, 2022 nine September 30, 2023 2022 As of September 30, 2023 , future unrecognized stock compensation related to unvested shares totaled approximately $2.4 million.

Note 12 - Segments

Note 12 - Segments	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	12. The Company’s reportable segments consist of three not no The Company evaluates the performance of its segments based upon net operating income (“NOI”), which is a non-GAAP supplemental financial measure. The Company defines NOI for its segments as operating revenues (rental income, tenant reimbursements and other operating income) less property and related expenses (property operating expenses, real estate taxes, insurance, asset management fees, impairments and provision for bad debt). NOI excludes certain items that are not The following tables compare the Company’s segment activity to its results of operations and financial position as of and for the three nine September 30, 2023 September 30, 2022 Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Office/Industrial Properties: Rental, fees and other income $ 2,928,103 $ 3,175,608 $ 8,810,167 $ 9,448,747 Property and related expenses (1,303,654 ) (1,278,805 ) (3,966,587 ) (3,809,729 ) Net operating income, as defined 1,624,449 1,896,803 4,843,580 5,639,018 Model Home Properties: Rental, fees and other income 1,093,778 718,331 2,970,940 2,125,623 Property and related expenses (44,201 ) (23,479 ) (121,998 ) (76,687 ) Net operating income, as defined 1,049,577 694,852 2,848,942 2,048,936 Retail Properties: Rental, fees and other income 457,292 498,038 1,396,160 1,722,723 Property and related expenses (125,623 ) (131,943 ) (391,772 ) (490,481 ) Net operating income, as defined 331,669 366,095 1,004,388 1,232,242 Reconciliation to net income: Total net operating income, as defined, for reportable segments 3,005,695 2,957,750 8,696,910 8,920,196 General and administrative expenses (1,635,610 ) (1,509,139 ) (5,413,413 ) (4,306,835 ) Depreciation and amortization (1,351,705 ) (1,318,164 ) (4,054,109 ) (3,973,582 ) Interest expense (1,375,199 ) (1,382,120 ) (3,579,381 ) (3,485,693 ) Loss on Conduit marketable securities (17,682,154 ) — (17,682,154 ) — Gain on deconsolidation of SPAC 40,321,483 — 40,321,483 — Other income, net 254,486 590,586 1,394,687 757,318 Income tax expense (134,620 ) (294,996 ) (632,147 ) (819,520 ) Gain on sale of real estate 757,285 1,307,258 2,294,574 4,057,527 Net income $ 22,159,661 $ 351,175 $ 21,346,450 $ 1,149,411 September 30, December 31, Assets by Reportable Segment: 2023 2022 Office/Industrial Properties: Land, buildings and improvements, net (1) $ 76,477,337 $ 76,400,983 Total assets (2) $ 77,334,728 $ 79,057,998 Model Home Properties: Land, buildings and improvements, net (1) $ 45,991,453 $ 37,933,824 Total assets (2) $ 45,181,672 $ 35,274,545 Retail Properties: Land, buildings and improvements, net (1) $ 15,959,020 $ 16,142,613 Total assets (2) $ 16,534,252 $ 16,810,627 Reconciliation to Total Assets: Total assets for reportable segments $ 139,050,652 $ 131,143,170 Other unallocated assets: Cash, cash equivalents and restricted cash 2,380,691 8,570,121 Other assets, net 36,502,046 151,638,363 Total Assets $ 177,933,389 $ 291,351,654 ( 1 Includes lease intangibles and the land purchase option related to property acquisitions. ( 2 Includes land, buildings and improvements, cash, cash equivalents, and restricted cash, current receivables, deferred rent receivables and deferred leasing costs and other related intangible assets, all shown on a net basis. For the Nine Months Ended September 30, Capital Expenditures by Reportable Segment 2023 2022 Office/Industrial Properties: Capital expenditures and tenant improvements $ 2,691,721 $ 1,832,806 Model Home Properties: Acquisition of operating properties 13,715,923 8,087,250 Retail Properties: Capital expenditures and tenant improvements 126,065 106,906 Totals: Acquisition of operating properties, net 13,715,923 8,087,250 Capital expenditures and tenant improvements 2,817,786 1,939,712 Total real estate investments $ 16,533,709 $ 10,026,962

Note 13 - Subsequent Events

Note 13 - Subsequent Events	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Subsequent Events [Text Block]	13. The Company evaluated subsequent events and transactions that occurred after the balance sheet date through the date the financial statements were issued. Based upon this review, except as disclosed below, the Company did not On September 30, 2023, 1 November 10, 2023, sed at $1.24 per share and $0.0202 per warrant, respectively.

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation. 10 8 X. September 30, 2023 December 31, 2022 three nine September 30, 2023 2022 not may December 31, 2023 10 December 31, 2022 December 31, 2022 10 March 28, 2023.
Consolidation, Policy [Policy Text Block]	Principles of Consolidation , and the partnerships. All significant intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated financial statements also include the accounts of (a) Murphy Canyon up until September 22, 2023. three 2, September 22, 2023, The Company classifies the noncontrolling interests in the NetREIT Partnerships as part of consolid ated net (loss) income in 2023 2022 ncluded the accumulated amount of noncontrolling interests as part of equity since inception in February 2010. not
Use of Estimates, Policy [Policy Text Block]	Use of Estimates
Real Estate, 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 property 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, but are not enant’s credit quality, and other factors. The value attributable 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 l ease. 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 $1,200 and $3,700 for the three nine September 30, 2023 . Amortization of above and below-market rents resulted in a net increase in rental income of approximately $14,000 and $41,000 for the three nine September 30, 2022 . The value of in-place leases and unamortized lease origination costs a re amortized to expenses over the remaining term of the respective leases, which range fro m less than a year to ten third $4,300 and $13,100 for the three nine September 30, 2023 . Amortization expenses related to these assets was approximately $50,000 and $152,300 for the three nine September 30, 2022 .
Deferred Leasing Costs [Policy Text Block]	Deferred Leasing Costs. Costs incurred in connection with successful property leases are capitalized as deferred leasing costs and amortized to leasing commission expense on a straight-line basis over the terms of the related leases which generally range from one five party leasing commissions. Management re-evaluates the remaining useful lives of leasing costs as the creditworthiness of the tenants and economic an d market conditions change. If management determines the estimated remaining life of the respective lease has changed, the amortization period is adjusted. At September 30, 2023 and December 31, 2022 , the Company had net deferred leasing costs of approxima tely $1.5 million and $1.5 million, respectively. Total amortization expense for the three nine September 30, 2023 , was approximately and $352,000. Total amortization expense for the three nine September 30, 2022 , was approximately
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Cash Equivalents and Restricted Cash. September 30, 2023 December 31, 2022 proximately and in cash, cash equivalents and restricted cash, respectively, of which approximately and represented restricted cash, respectively. The Company considers all short-term, highly liquid investments that are both readily convertible to cash and have an original maturity of three may $250,000 No September 30, 2023 and December 31, 2022 , the Company had approximately and , respectively, in deposits in financial institutions that exceeded the federally insurab
Real Estate Held for Development and Sale, Policy [Policy Text Block]	Real Estate Held for Sale and Discontinued Operations. one is classified as “real estate held for sale” for all prior periods presented in the accompanying condensed consolidated financial statements. Mortgage notes payable related to the real estate sold during the current period are classified as “notes payable related to real estate held for sale” for all prior periods presented in the accompanying condensed consolidated financial statements. Additionally, we record the operating results related to real estate that has been disposed of as discontinued operations for all periods presented if the operations have been eliminated and represent a strategic shift and we will not September 30, 2023 , no model homes were classified as held for sale.
Deferred Charges, Policy [Policy Text Block]	Deferred Offering Costs. Deferred offering costs represent legal, accounting and other direct costs related to our offerings. As of September 30, 2023 and December 31, 2022 , we have not the end of each period.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairments of Real Estate Assets. We regularly review for impairment on a property-by-property basis. Impairment is recognized on a property held for use when the expected undiscounted cash flows for a property are les not Properties held for sale are recorded at the lower of the carrying amount or the expected sales price less costs to sell. Although our strategy is to hold our properties over the long-term, if our strategy changes or market conditions otherwise dictate an earlier sale date, an impairment loss may
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements • Level 1: • Level 2: not • Level 3: no When available, we utilize quoted market prices from independent third 1 2 . not not Additionally, in an inactive market, a market price quoted from an independent third may third not September 30, 2023 December 31, 2022 1 1 September 30, 2023 December 31, 2022 1 2022 03 Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions September 30, 2023 180 March 20, 2024. no September 30, 2023 December 31, 2022 .
Earnings Per Share, Policy [Policy Text Block]	Earnings per share ( EPS ). 260, two two Dilutive common stock equivalents include the dilutive effect of in-the-money stock equivalents, which are calculated based on the average share price for each period using the treasury stock method, excluding any common stock equivalents if their effect would be anti-dilutive. In periods in which a net loss has been incurred, all potentially dilutive common stock shares are considered anti-dilutive and thus are excluded from the calculation. Securities that are excluded from the calculation of weighted average dilutive common stock, because their inclusion would have been antidilutive, are: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Common Stock Warrants 2,000,000 2,000,000 2,000,000 2,000,000 Placement Agent Warrants 80,000 80,000 80,000 80,000 Series A Warrants 14,450,069 14,450,069 14,450,069 14,450,069 Unvested Common Stock Grants 1,292,238 577,563 1,292,238 577,563 Total potentially dilutive shares 17,822,307 17,107,632 17,822,307 17,107,632
Consolidation, Variable Interest Entity, Policy [Policy Text Block]	Variable Interest Entity. first We analyze any investments in VIEs to determine if we are the primary beneficiary. In evaluating whether we are the primary beneficiary, we evaluate our direct and indirect economic interests in the entity. A reporting entity is determined to be the primary beneficiary if it holds a controlling financial interest in the VIE. Determining which reporting entity, if any, has a controlling financial interest in a VIE is primarily a qualitative approach focused on identifying which reporting entity has both: (i) the power to direct the activities of a VIE that most significantly impact such entity’s economic performance; and (ii) the obligation to absorb losses or the right to receive benefits from such entity that could potentially be significant to such entity. Performance of that analysis requires the exercise of judgment. We consider a variety of factors in identifying the entity that holds the power to direct matters that most significantly impact the VIE’s economic performance, including, but not The Company was involved in the formation of an entity considered to be a VIE, prior to September 22, 2023, 810 not Following the completion of the Murphy Canyon IPO in January 2022, not not 480 10 S99 3A. 9
Shares Subject to Mandatory Redemption, Changes in Redemption Value, Policy [Policy Text Block]	Shares Subject to Possible Redemption 470 20. 480 10 S99. three March 31, 2022, September 22, 2023 9
Excise Tax Policy [Policy Text Block]	Excise Tax . 2022, January 2023. not September 22, 2023, January 2023 September 22, 2023.
Derivatives, Policy [Policy Text Block]	Warrant Instruments SPAC. 480 815, 815 40 840 no not September 22, 2023, no See Note 9
Subsequent Events, Policy [Policy Text Block]	Subsequent Events. We evaluate subsequen t events up until the date the condensed consolidated financial statements are issued.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued and Adopted Accounting Pronouncements. In June 2022, No. 2022 03, Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, 1 820, 2 3 820. not not 1. The fair value of equity securities subject to contractual sale restrictions reflected in the balance sheet, 2. The nature and remaining duration of the restriction(s), and 3. The circumstances that could cause a lapse in the restriction(s). For public business entities, the amendments in this ASU are effective for fiscal years beginning after December 15, 2023, December 15, 2024, not three September 30, 2023 September 30, 2023.

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Common Stock Warrants 2,000,000 2,000,000 2,000,000 2,000,000 Placement Agent Warrants 80,000 80,000 80,000 80,000 Series A Warrants 14,450,069 14,450,069 14,450,069 14,450,069 Unvested Common Stock Grants 1,292,238 577,563 1,292,238 577,563 Total potentially dilutive shares 17,822,307 17,107,632 17,822,307 17,107,632

Note 4 - Real Estate Assets (Ta

Note 4 - Real Estate Assets (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Real Estate Properties [Table Text Block]	Date Real estate assets, net Property Name Acquired Location September 30, 2023 December 31, 2022 Genesis Plaza (1) August 2010 San Diego, CA $ 7,697,493 $ 7,995,980 Dakota Center May 2011 Fargo, ND 8,923,571 8,569,537 Grand Pacific Center (2) March 2014 Bismarck, ND 6,084,032 5,228,006 Arapahoe Center December 2014 Centennial, CO 8,565,680 8,664,604 Union Town Center December 2014 Colorado Springs, CO 8,969,912 9,039,039 West Fargo Industrial August 2015 Fargo, ND 6,874,243 6,893,292 300 N.P. August 2015 Fargo, ND 2,801,682 2,899,694 Research Parkway August 2015 Colorado Springs, CO 2,273,906 2,319,588 One Park Center August 2015 Westminster, CO 7,754,915 7,991,809 Shea Center II December 2015 Highlands Ranch, CO 19,274,869 19,501,998 Mandolin (3) August 2021 Houston, TX 4,715,201 4,783,985 Baltimore December 2021 Baltimore, MD 8,522,343 8,690,874 Presidio Property Trust, Inc. properties 92,457,847 92,578,406 Model Home properties (4) 2017 2023 AZ, FL, IL, TX, WI 45,990,458 37,933,824 Total real estate assets and lease intangibles, net $ 138,448,305 $ 130,512,230

Note 5 - Lease Intangibles (Tab

Note 5 - Lease Intangibles (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	September 30, 2023 December 31, 2022 Lease Intangibles Accumulated Amortization Lease Intangibles, net Lease Intangibles Accumulated Amortization Lease Intangibles, net In-place leases $ 2,515,264 $ (2,492,570 ) $ 22,694 $ 2,515,264 $ (2,485,234 ) $ 30,030 Leasing costs 1,261,390 (1,242,399 ) 18,991 1,261,390 (1,236,591 ) 24,799 Above-market leases 333,485 (333,485 ) — 333,485 (333,485 ) — $ 4,110,139 $ (4,068,454 ) $ 41,685 $ 4,110,139 $ (4,055,310 ) $ 54,829
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	2023 $ 4,382 2024 17,526 2025 15,670 2026 4,107 Total $ 41,685

Note 6 - Other Assets (Tables)

Note 6 - Other Assets (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Other Assets [Table Text Block]	September 30, December 31, 2023 2022 Deferred rent receivable $ 1,922,450 $ 1,641,831 Investment in marketable securities (not including Conduit) 614,063 797,749 Prepaid expenses, deposits and other 522,828 619,621 Notes receivable 316,374 316,374 Accounts receivable, net 386,318 67,780 Right-of-use assets, net 23,334 45,843 Other intangibles, net - 22,483 Total other assets $ 3,785,367 $ 3,511,681

Note 7 - Mortgage Notes Payab_2

Note 7 - Mortgage Notes Payable (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Debt [Table Text Block]	Principal as of September 30, December 31, Loan Interest Mortgage note property 2023 2022 Type Rate (1) Maturity Dakota Center 9,260,159 9,442,976 Fixed 4.74 % 7/6/2024 Research Parkway 1,603,836 1,648,237 Fixed 3.94 % 1/5/2025 Arapahoe Service Center 7,471,082 7,602,273 Fixed 4.34 % 1/5/2025 Union Town Center 7,910,038 8,025,300 Fixed 4.28 % 1/5/2025 One Park Centre 6,074,444 6,163,177 Fixed 4.77 % 9/5/2025 Genesis Plaza 5,967,580 6,055,682 Fixed 4.71 % 9/6/2025 Shea Center II 17,022,587 17,229,573 Fixed 4.92 % 1/5/2026 West Fargo Industrial (2) 3,942,804 4,030,297 Fixed 6.70 % 8/5/2029 Grand Pacific Center (3) 3,806,187 3,496,330 Fixed 6.35 % 5/5/2033 Baltimore 5,670,000 5,670,000 Fixed 4.67 % 4/6/2032 Mandolin 3,589,108 3,635,362 Fixed 4.35 % 4/20/2029 Subtotal, Presidio Property Trust, Inc. Properties $ 72,317,825 $ 72,999,207 Model Home mortgage notes (4) 30,948,811 24,752,448 Fixed 2023 2028 Mortgage Notes Payable $ 103,266,636 $ 97,751,655 Unamortized loan costs (778,420 ) (852,956 ) Mortgage Notes Payable, net $ 102,488,216 $ 96,898,699
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 2023 $ 355,896 $ 3,074,354 $ 3,430,250 2024 10,401,908 11,571,492 21,973,400 2025 28,773,285 10,467,724 39,241,009 2026 16,651,242 165,968 16,817,210 2027 294,780 165,968 460,748 Thereafter 15,840,714 5,503,305 21,344,019 Total $ 72,317,825 $ 30,948,811 $ 103,266,636

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2023
Common Class A [Member]
Notes Tables
Dividends Declared [Table Text Block]	Quarter Ended 2023 2022 Distributions Declared Distributions Declared March 31 $ 0.022 $ 0.105 June 30 0.023 0.106 September 30 0.023 0.020 Total $ 0.068 $ 0.231 Month 2023 2022 Distributions Declared Distributions Declared January $ 0.19531 $ 0.19531 February 0.19531 0.19531 March 0.19531 0.19531 April 0.19531 0.19531 May 0.19531 0.19531 June 0.19531 0.19531 July 0.19531 0.19531 August 0.19531 0.19531 September 0.19531 0.19531 Total $ 1.75779 $ 1.75779

Note 11 - Share-based Incenti_2

Note 11 - Share-based Incentive Plan (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]	Outstanding shares: Common Shares Balance at December 31, 2022 349,042 Granted 1,006,430 Forfeited (11,401 ) Vested (51,833 ) Balance at September 30, 2023 1,292,238

Note 12 - Segments (Tables)

Note 12 - Segments (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Office/Industrial Properties: Rental, fees and other income $ 2,928,103 $ 3,175,608 $ 8,810,167 $ 9,448,747 Property and related expenses (1,303,654 ) (1,278,805 ) (3,966,587 ) (3,809,729 ) Net operating income, as defined 1,624,449 1,896,803 4,843,580 5,639,018 Model Home Properties: Rental, fees and other income 1,093,778 718,331 2,970,940 2,125,623 Property and related expenses (44,201 ) (23,479 ) (121,998 ) (76,687 ) Net operating income, as defined 1,049,577 694,852 2,848,942 2,048,936 Retail Properties: Rental, fees and other income 457,292 498,038 1,396,160 1,722,723 Property and related expenses (125,623 ) (131,943 ) (391,772 ) (490,481 ) Net operating income, as defined 331,669 366,095 1,004,388 1,232,242 Reconciliation to net income: Total net operating income, as defined, for reportable segments 3,005,695 2,957,750 8,696,910 8,920,196 General and administrative expenses (1,635,610 ) (1,509,139 ) (5,413,413 ) (4,306,835 ) Depreciation and amortization (1,351,705 ) (1,318,164 ) (4,054,109 ) (3,973,582 ) Interest expense (1,375,199 ) (1,382,120 ) (3,579,381 ) (3,485,693 ) Loss on Conduit marketable securities (17,682,154 ) — (17,682,154 ) — Gain on deconsolidation of SPAC 40,321,483 — 40,321,483 — Other income, net 254,486 590,586 1,394,687 757,318 Income tax expense (134,620 ) (294,996 ) (632,147 ) (819,520 ) Gain on sale of real estate 757,285 1,307,258 2,294,574 4,057,527 Net income $ 22,159,661 $ 351,175 $ 21,346,450 $ 1,149,411
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	September 30, December 31, Assets by Reportable Segment: 2023 2022 Office/Industrial Properties: Land, buildings and improvements, net (1) $ 76,477,337 $ 76,400,983 Total assets (2) $ 77,334,728 $ 79,057,998 Model Home Properties: Land, buildings and improvements, net (1) $ 45,991,453 $ 37,933,824 Total assets (2) $ 45,181,672 $ 35,274,545 Retail Properties: Land, buildings and improvements, net (1) $ 15,959,020 $ 16,142,613 Total assets (2) $ 16,534,252 $ 16,810,627 Reconciliation to Total Assets: Total assets for reportable segments $ 139,050,652 $ 131,143,170 Other unallocated assets: Cash, cash equivalents and restricted cash 2,380,691 8,570,121 Other assets, net 36,502,046 151,638,363 Total Assets $ 177,933,389 $ 291,351,654
Segment, Reconciliation of Other Items from Segments to Consolidated [Table Text Block]	For the Nine Months Ended September 30, Capital Expenditures by Reportable Segment 2023 2022 Office/Industrial Properties: Capital expenditures and tenant improvements $ 2,691,721 $ 1,832,806 Model Home Properties: Acquisition of operating properties 13,715,923 8,087,250 Retail Properties: Capital expenditures and tenant improvements 126,065 106,906 Totals: Acquisition of operating properties, net 13,715,923 8,087,250 Capital expenditures and tenant improvements 2,817,786 1,939,712 Total real estate investments $ 16,533,709 $ 10,026,962

Note 1 - Organization (Details

Note 1 - Organization (Details Textual) $ in Millions				9 Months Ended
	Sep. 30, 2023 USD ($) shares	Sep. 22, 2023 shares	Jul. 12, 2021 shares	Sep. 30, 2023 USD ($) shares	Sep. 21, 2023	Jun. 30, 2023
Number of Limited Liability Companies	2			2
Number of Limited Partnerships in which Company is Sole General Partner				5
Future Principal Mortgage Notes Payables, Due | $	$ 3.4			$ 3.4
Common Class A [Member]
Stock Issued During Period, Shares, New Issues (in shares)			1,000,000
Conduit Pharmaceuticals Inc [Member]
Stock Issued During Period, Shares, New Issues (in shares)		754,000
Stock Issued During Period, Shares, Acquisitions (in shares)		65,000,000
Conduit Pharmaceuticals Inc [Member] | Director [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	45,000			45,000
Stock Issued During Period, Shares, Issued for Services (in shares)	45,000
Conduit Pharmaceuticals Inc [Member] | Private Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)		754,000
Conduit Pharmaceuticals Inc [Member] | Private Warrants [Member] | Common Class A [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)		754,000
Conduit Pharmaceuticals Inc [Member] | Conversion of Class B to Class A Common Stock [Member]
Stock Issued During Period, Shares, Conversion of Convertible Securities (in shares)		3,306,250
Murphy Canyon Acquisition Sponsor, LLC (SPAC) [Member] | Private Warrants [Member] | Common Class A [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)		754,000
Special Purpose Acquisition Company (SPAC) [Member]
Subsidiary, Ownership Percentage, Parent					65%
Conduit Pharmaceuticals Inc [Member]
Investment Owned, Net Assets, Percentage	6.50%			6.50%
Model Home Properties [Member]
Number of Limited Partnerships in which Company is Sole General Partner				5
Future Principal Mortgage Notes Payables, Due | $	$ 3.1			$ 3.1
Commercial Property [Member]
Number of Real Estate Properties, Fee Simple						12
Commercial Property [Member] | Partially Owned Properties [Member]
Number of Real Estate Properties, Fee Simple	2			2

Note 2 - Significant Accounti_3

Note 2 - Significant Accounting Policies (Details Textual) - USD ($)		3 Months Ended		9 Months Ended
	Sep. 22, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Amortization of above and below Market Leases		$ 1,200	$ 3,700	$ 14,000	$ 41,000
Deferred Costs		1,500,000		1,500,000		$ 1,500,000
Operating Lease, Initial Direct Cost Expense, over Term		123,000	94,000	352,000	283,000
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents		7,778,764		7,778,764		16,516,725
Restricted Cash		3,700,000		3,700,000		4,400,000
Cash, Uninsured Amount		$ 500,000		$ 500,000		8,800,000
Number of Model Homes, Held for Sale		7		7
Marketable Securities		$ 614,063		$ 614,063		797,749
Marketable Securities, Cost Basis		700,000		700,000		900,000
Equity Securities, FV-NI		23,996,141		23,996,141		0
Equity Securities, FV-NI, Cost		7,500,000		$ 7,500,000
Excise Tax Liability on Spac Redemptions, Percentage				1%
Excise Tax Liability on Spac Redemptions, Amount		1,140,683		$ 1,140,683
Conduit Pharmaceuticals Inc [Member]
Stock Issued During Period, Shares, Acquisitions (in shares)	65,000,000
Common Class A [Member]
Stock Redeemed or Called During Period, Shares (in shares)				11,037,272
Stock Redeemed or Called During Period, Value				$ 114,068,280
Fair Value, Inputs, Level 1 [Member]
Marketable Securities		600,000		600,000		800,000
Cash Equivalents, at Carrying Value		0		0		$ 136,900,000
Lease Intangibles [Member]
Amortization of Intangible Assets		$ 4,300	$ 50,000	$ 13,100	$ 152,300
Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation (Year)		1 year		1 year
Leasehold Improvements [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation (Year)		10 years		10 years
Furniture and Fixtures [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation (Year)		5 years		5 years
Furniture and Fixtures [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation (Year)		1 year		1 year
Murphy Canyon Acquisition Sponsor, LLC (SPAC) [Member]
Subsidiary, Ownership Percentage, Parent		65%		65%

Note 2 - Significant Accounti_4

Note 2 - Significant Accounting Policies - Antidilutive Securities (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Antidilutive securities (in shares)	17,822,307	17,107,632	17,822,307	17,107,632
Common Stock Warrants [Member]
Antidilutive securities (in shares)	2,000,000	2,000,000	2,000,000	2,000,000
Placement Agent Warrants [Member]
Antidilutive securities (in shares)	80,000	80,000	80,000	80,000
Series A Warrants [Member]
Antidilutive securities (in shares)	14,450,069	14,450,069	14,450,069	14,450,069
Unvested Common Stock Grants [Member]
Antidilutive securities (in shares)	1,292,238	577,563	1,292,238	577,563

Note 3 - Recent Real Estate T_2

Note 3 - Recent Real Estate Transactions (Details Textual) $ in Millions		9 Months Ended
	Mar. 11, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)
Discontinued Operations [Member]
Number of Real Estate Properties		15	25
Proceeds from Sale of Real Estate		$ 7.8	$ 13.5
Gain (Loss) on Sale of Properties		$ 2.3	$ 4.3
Model Home [Member]
Number of Real Estate Properties		25	15
Real Estate Property, Consideration Transferred, Total		$ 13.7	$ 8.1
Payments to Acquire Residential Real Estate		4.2	2.5
Notes Payable		$ 9.5	$ 5.6
World Plaza [Member] | Discontinued Operations [Member]
Proceeds from Sale of Real Estate	$ 10
Gain (Loss) on Sale of Properties	$ (0.3)

Note 4 - Real Estate Assets (De

Note 4 - Real Estate Assets (Details Textual)	9 Months Ended
	Sep. 30, 2023 ft²	May 05, 2023 ft²
Number of States Real Estate Property is Located	5
Number of Limited Partnerships in which Company is Sole General Partner	5
Number of Limited Liability Companies	2
NetREIT Palm Self-Storage LP [Member]
Subsidiary, Ownership Percentage, Parent	61.30%
Office/Industrial Properties [Member]
Area of Real Estate Property (Square Foot)	758,356
Retail Properties [Member]
Area of Real Estate Property (Square Foot)	65,242
Model Home [Member]
Number of Real Estate Properties	102
Area of Real Estate Property (Square Foot)	309,257
Number of Limited Partnerships in which Company is Sole General Partner	5
Number of Limited Liability Companies	1
Office Building [Member] | Office/Industrial Properties [Member]
Number of Real Estate Properties	1
Genesis Plaza [Member] | Tenant-in-common One [Member]
Percentage Ownership in Property	57%
Genesis Plaza [Member] | Tenant-in-common Two [Member]
Percentage Ownership in Property	43%
Percentage Beneficial Ownership in Property	76.40%
Grand Pacific Center [Member]
Area of Real Estate Property (Square Foot)	33,296	33,296
Lessee, Operating Lease, Term of Contract (Year)	10 years
Office Buildings [Member] | Office/Industrial Properties [Member]
Number of Real Estate Properties	8
Retail Site [Member] | Retail Properties [Member]
Number of Real Estate Properties	3
COLOMBIA
Number of Real Estate Properties	5
NORTH DAKOTA
Number of Real Estate Properties	4
CALIFORNIA
Number of Real Estate Properties	1
TEXAS
Number of Real Estate Properties	1
MARYLAND
Number of Real Estate Properties	1

Note 4 - Real Estate Assets - S

Note 4 - Real Estate Assets - Summary of Properties Owned (Details) - USD ($)		9 Months Ended
		Sep. 30, 2023	Dec. 31, 2022
Real estate assets owned		$ 138,448,305	$ 130,512,230
Genesis Plaza [Member]
Geographic location	[1]	San Diego, CA
Real estate assets owned	[1]	$ 7,697,493	7,995,980
Dakota Center [Member]
Geographic location		Fargo, ND
Real estate assets owned		$ 8,923,571	8,569,537
Grand Pacific Center [Member]
Geographic location	[2]	Bismarck, ND
Real estate assets owned	[2]	$ 6,084,032	5,228,006
Arapahoe Center [Member]
Geographic location		Centennial, CO
Real estate assets owned		$ 8,565,680	8,664,604
Union Town Center [Member]
Geographic location		Colorado Springs, CO
Real estate assets owned		$ 8,969,912	9,039,039
West Fargo Industrial [Member]
Geographic location		Fargo, ND
Real estate assets owned		$ 6,874,243	6,893,292
The 300 N.P [Member]
Geographic location		Fargo, ND
Real estate assets owned		$ 2,801,682	2,899,694
Research Parkway [Member]
Geographic location		Colorado Springs, CO
Real estate assets owned		$ 2,273,906	2,319,588
One Park Centre [Member]
Geographic location		Westminster, CO
Real estate assets owned		$ 7,754,915	7,991,809
Shea Center II [Member]
Geographic location		Highlands Ranch, CO
Real estate assets owned		$ 19,274,869	19,501,998
Mandolin [Member]
Geographic location	[3]	Houston, TX
Real estate assets owned	[3]	$ 4,715,201	4,783,985
Baltimore [Member]
Geographic location		Baltimore, MD
Real estate assets owned		$ 8,522,343	8,690,874
Presidio Property Trust, Inc. Properties [Member]
Real estate assets owned		$ 92,457,847	92,578,406
Model Home Properties [Member]
Geographic location	[4]	AZ, FL, IL, TX, WI
Real estate assets owned	[4]	$ 45,990,458	$ 37,933,824
[1]Genesis Plaza is owned by two tenants-in-common, each of which owns 57% and 43%, respectively, and we beneficially own an aggregate of 76.4%.[2]Grand Pacific Center property and entered into a 10 year lease with KLJ Engineering LLC to occupy 33,296 square feet of the building. The lease will commence when the tenant improvements have been substantially completed.[3]Mandolin is owned by NetREIT Palm Self-Storage LP, through its wholly owned subsidiary NetREIT Highland LLC, and the Company is the sole general partner and owns 61.3% of NetREIT Palm Self-Storage LP.[4]Includes Model Homes listed as held for sale as of September 30, 2023. and December 31, 2022, respectively.

Note 5 - Lease Intangibles (Det

Note 5 - Lease Intangibles (Details Textual) - USD ($)	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Finite-Lived Intangible Assets, Gross, Total	$ 4,110,139		$ 4,110,139
Below Market Lease, Net	14,509	$ 18,240
Real Estate Assets Held for Sale [Member]
Finite-Lived Intangible Assets, Gross, Total	$ 0	$ 0

Note 5 - Lease Intangibles - Ne

Note 5 - Lease Intangibles - Net Value of Other Intangibles (Details) - USD ($)	Sep. 30, 2023	Sep. 30, 2022
Lease intangibles, gross	$ 4,110,139	$ 4,110,139
Accumulated Amortization	(4,068,454)	(4,055,310)
Lease Intangibles, net	41,685	54,829
Leases, Acquired-in-Place [Member]
Lease intangibles, gross	2,515,264	2,515,264
Accumulated Amortization	(2,492,570)	(2,485,234)
Lease Intangibles, net	22,694	30,030
Leasing Costs [Member]
Lease intangibles, gross	1,261,390	1,261,390
Accumulated Amortization	(1,242,399)	(1,236,591)
Lease Intangibles, net	18,991	24,799
Above Market Lease [Member]
Lease intangibles, gross	333,485	333,485
Accumulated Amortization	(333,485)	(333,485)
Lease Intangibles, net	$ 0	$ 0

Note 5 - Lease Intangibles - Am

Note 5 - Lease Intangibles - Amortization Expense (Details) - USD ($)	Sep. 30, 2023	Sep. 30, 2022
2023	$ 4,382
2024	17,526
2025	15,670
2026	4,107
Total	$ 41,685	$ 54,829

Note 6 - Other Assets (Details

Note 6 - Other Assets (Details Textual)	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Number of Publicly Traded REITs in which Common Shares are Owned	14	18
Number of Publicly Traded REITs in which Options are Owned	0	3
Investments, Fair Value Disclosure		$ 798,206
Marketable Securities	$ 614,063	797,749
Marketable Securities, Real Estate Investment Trust [Member] | Covered Call Option Contract [Member]
Investments, Fair Value Disclosure	$ 614,063
Derivative, Fair Value, Net, Total		$ 457

Note 6 - Other Assets - Other A

Note 6 - Other Assets - Other Assets (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Investment in marketable securities (not including Conduit)	$ 614,063	$ 797,749
Total other assets	39,485,084	23,968,241
Other Assets [Member]
Deferred rent receivable	1,922,450	1,641,831
Investment in marketable securities (not including Conduit)	614,063	797,749
Prepaid expenses, deposits and other	522,828	619,621
Notes receivable	316,374	316,374
Accounts receivable, net	386,318	67,780
Right-of-use assets, net	23,334	45,843
Other intangibles, net	0	22,483
Total other assets	$ 3,785,367	$ 3,511,681

Note 7 - Mortgage Notes Payab_3

Note 7 - Mortgage Notes Payable (Details Textual) $ in Thousands	May 05, 2023 USD ($) ft²	Sep. 30, 2023 USD ($) ft²	Aug. 05, 2023
Refinanced Loan [Member]
Debt Instrument, Interest Rate, Stated Percentage	6.35%
Debt Instrument, Face Amount	$ 3,800
Debt Instrument, Term (Year)	10 years
Construction Loan [Member]
Debt Instrument, Interest Rate, Stated Percentage	6.35%
Debt Instrument, Face Amount	$ 2,700
Debt Instrument, Term (Year)	10 years
Loans Payable		$ 0
Model Home [Member]
Number of Real Estate Properties Held for Sale		7
Model Home [Member] | Mortgage Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage			6.70%
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		7.12%
Grand Pacific Center [Member]
Area of Real Estate Property (Square Foot) | ft²	33,296	33,296

Note 7 - Mortgage Notes Payab_4

Note 7 - Mortgage Notes Payable - Mortgage Notes Payable (Details) - USD ($)		Sep. 30, 2023	Dec. 31, 2022
Mortgage Notes Payable, net		$ 102,488,216	$ 96,898,699
Mortgage Notes [Member]
Mortgage Notes Payable		103,266,636	97,751,655
Unamortized loan costs		(778,420)	(852,956)
Mortgage Notes [Member] | Dakota Center [Member]
Mortgage Notes Payable		$ 9,260,159	9,442,976
Interest rate	[1]	4.74%
Mortgage Notes [Member] | Research Parkway [Member]
Mortgage Notes Payable		$ 1,603,836	1,648,237
Interest rate	[1]	3.94%
Mortgage Notes [Member] | Arapahoe Center [Member]
Mortgage Notes Payable		$ 7,471,082	7,602,273
Interest rate	[1]	4.34%
Mortgage Notes [Member] | Union Town Center [Member]
Mortgage Notes Payable		$ 7,910,038	8,025,300
Interest rate	[1]	4.28%
Mortgage Notes [Member] | One Park Centre [Member]
Mortgage Notes Payable		$ 6,074,444	6,163,177
Interest rate	[1]	4.77%
Mortgage Notes [Member] | Genesis Plaza [Member]
Mortgage Notes Payable		$ 5,967,580	6,055,682
Interest rate	[1]	4.71%
Mortgage Notes [Member] | Shea Center II [Member]
Mortgage Notes Payable		$ 17,022,587	17,229,573
Interest rate	[1]	4.92%
Mortgage Notes [Member] | West Fargo Industrial [Member]
Mortgage Notes Payable	[2]	$ 3,942,804	4,030,297
Interest rate	[1],[3]	6.70%
Mortgage Notes [Member] | Grand Pacific Center [Member]
Mortgage Notes Payable	[4]	$ 3,806,187	3,496,330
Interest rate	[1],[2]	6.35%
Mortgage Notes [Member] | Baltimore [Member]
Mortgage Notes Payable		$ 5,670,000	5,670,000
Interest rate	[1]	4.67%
Mortgage Notes [Member] | Mandolin [Member]
Mortgage Notes Payable		$ 3,589,108	3,635,362
Interest rate	[1]	4.35%
Mortgage Notes [Member] | Subtotal, Presidio Property Trust, Inc. Properties [Member]
Mortgage Notes Payable		$ 72,317,825	72,999,207
Mortgage Notes [Member] | Model Home [Member]
Mortgage Notes Payable	[3]	$ 30,948,811	$ 24,752,448
[1]Interest rates as of September 30, 2023.[2]On August 5, 2023, the lender increased the interest rate to 6.70%. The loan agreement states that the lender may, upon not less than sixty (60) days prior, give written notice to the Company to increase the interest rate effective on August 5, 2023, and August 5, 2026, to the rate then being quoted by the lender for new three-year commercial mortgage loans of similar size and quality with like terms and security (provided that in no event shall the new rate be less than the initial rate).[3]As of September 30, 2023, there were seven model homes included as real estate assets held for sale. Our model homes have standalone mortgage notes at interest rates ranging from 2.50% to 7.12% per annum as of September 30, 2023.[4]On May 5, 2023, the Company, through its subsidiary, refinanced the mortgage loan on our Grand Pacific Center property and entered into a construction loan related to the tenant improvement associated with the KLJ Engineering LLC lease to occupy 33,296 square feet of the building. The refinanced loan is for approximately $3.8 million, a term of 10 years, with an interest rate of 6.35%, for the first 60 months. The interest rate is subject to reset in year five. The construction loan is for approximately $2.7 million, a term of 10 years, and will begin amortizing in year three, with an interest rate of 6.35%, for the first 60 months. The interest rate is subject to reset in year five. As of September 30, 2023, we had not drawn down on the construction loan.

Note 7 - Mortgage Notes Payab_5

Note 7 - Mortgage Notes Payable - Scheduled Principal Payments of Mortgage Notes Payable (Details)	Sep. 30, 2023 USD ($)
2023	$ 3,430,250
2024	21,973,400
2025	39,241,009
2026	16,817,210
2027	460,748
Thereafter	21,344,019
Total	103,266,636
Presidio Property Trust, Inc Notes Payable [Member]
2023	355,896
2024	10,401,908
2025	28,773,285
2026	16,651,242
2027	294,780
Thereafter	15,840,714
Total	72,317,825
Model Home Properies Notes Payable [Member]
2023	3,074,354
2024	11,571,492
2025	10,467,724
2026	165,968
2027	165,968
Thereafter	5,503,305
Total	$ 30,948,811

Note 8 - Notes Payable (Details

Note 8 - Notes Payable (Details Textual) - USD ($)			1 Months Ended
	Aug. 17, 2020	Apr. 22, 2020	Apr. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Dec. 20, 2021	Aug. 17, 2021
Refinanced NetREIT Promissory Notes [Member]
Proceeds from Short-Term Debt, Total			$ 3,700,000
Refinanced PPT Baltimore Promissory Note [Member]
Proceeds from Short-Term Debt, Total				$ 5,670,000
Majority Owned Subsidiary NetREIT Highland [Member] | Promissory Note for the Acquisition of the Mandolin Property in Houston, Texas [Member]
Debt Instrument, Face Amount							$ 1,560,000
Debt Instrument, Interest Rate, Stated Percentage							4%
Repayments of Short-Term Debt, Total			$ 1,560,000
Majority Owned Subsidiary, PPT Baltimore [Member] | Promissory Note Issued for Acquisition of Baltimore Property in Baltimore, MD [Member]
Debt Instrument, Face Amount						$ 5,650,000
Debt Instrument, Interest Rate, Stated Percentage						4.50%
Repayments of Short-Term Debt, Total				$ 5,650,000
Promissory Notes for the Refinancing of Four Model Home Properties in Texas and Wisconsin [Member] | Majority Owned Subsidiary Dubose Model Home Investors 202 LP and 204 LP [Member]
Debt Instrument, Face Amount					$ 700,000
Promissory Notes for the Refinancing of Four Model Home Properties in Texas and Wisconsin [Member] | Majority Owned Subsidiary Dubose Model Home Investors 202 LP and 204 LP [Member] | Minimum [Member]
Debt Instrument, Interest Rate, Stated Percentage					3%
Promissory Notes for the Refinancing of Four Model Home Properties in Texas and Wisconsin [Member] | Majority Owned Subsidiary Dubose Model Home Investors 202 LP and 204 LP [Member] | Maximum [Member]
Debt Instrument, Interest Rate, Stated Percentage					5.76%
Economic Injury Disaster Loan [Member]
Proceeds from Issuance of Unsecured Debt	$ 150,000	$ 10,000

Note 9 - Commitments and Cont_2

Note 9 - Commitments and Contingencies (Details Textual) - USD ($)								1 Months Ended	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 22, 2023	Jan. 26, 2023	Nov. 08, 2022	Feb. 07, 2022	Jan. 07, 2022	Jul. 12, 2021	Feb. 28, 2023	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 21, 2023	May 11, 2023	Mar. 01, 2023	Dec. 31, 2022	Jun. 30, 2022
Capital Expenditures Incurred but Not yet Paid												$ 4,200,000
Deconsolidation, Gain (Loss), Amount									$ 40,321,483	$ 0		40,321,483	$ 0
Equity Securities, FV-NI	$ 23,996,141								23,996,141			23,996,141					$ 0
Equity Securities, FV-NI, Cost	$ 7,500,000								$ 7,500,000			7,500,000
Special Purpose Acquisition Company (SPAC) [Member]
Financing Receivable, before Allowance for Credit Loss		$ 1,000,000
Murphy Canyon Acquisition Sponsor, LLC [Member]
Intangible Assets, Net (Excluding Goodwill)															$ 5,000,001
Deconsolidation, Gain (Loss), Amount		6,200,000										$ 40,300,000
Deconsolidation, Revaluation of Retained Investment, Gain (Loss), Amount		$ 34,100,000
Conduit Pharmaceuticals Inc [Member]
Stock Issued During Period, Shares, Acquisitions (in shares)		65,000,000
Stock Issued During Period, Shares, New Issues (in shares)		754,000
Conduit Pharmaceuticals Inc [Member] | Director [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	45,000								45,000			45,000
Stock Issued During Period, Shares, Issued for Services (in shares)	45,000
Conduit Pharmaceuticals Inc [Member] | Private Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)		754,000
Conduit Pharmaceuticals Inc [Member] | Conversion of Class B to Class A Common Stock [Member]
Stock Issued During Period, Shares, Conversion of Convertible Securities (in shares)		3,306,250
Trust for the SPAC Class A Common Stockholders [Member]
Cash Withdrawn From Trust Account											$ 114,100,000
Trust Account, Income Tax Withdraws								$ 200,050
Trust Account, Extension Payments								$ 155,403
Investments											$ 23,300,000							$ 135,100,000
Investment Income, Net												$ 1,200,000	$ 800,000
Annual Yield Return											0.97%
Common Class A [Member]
Stock Redeemed or Called During Period, Shares (in shares)												11,037,272
Stock Subject to Possible Redemption, Shares (in shares)																2,187,728
Stock Issued During Period, Shares, New Issues (in shares)							1,000,000
Common Class A [Member] | Conduit Pharmaceuticals Inc [Member] | Private Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)		754,000
The “Merger Consideration” [Member]
Stock Redeemed or Called During Period, Shares (in shares)			11,037,272
The “Merger Consideration” [Member] | Common Class A [Member]
Stock Issued During Period, Shares, Acquisitions (in shares)				65,000,000
Special Purpose Acquisition Company (SPAC) [Member]
Subsidiary, Ownership Percentage, Parent														65%
Conduit Pharmaceuticals Inc [Member]
Investment Owned, Net Assets, Percentage	6.50%								6.50%			6.50%
SPAC, Initial Public Offering [Member] | Murphy Canyon Acquisition Sponsor, LLC [Member]
Proceeds from Issuance of Common Stock					$ 132,250,000	$ 132,250,000
Subsidiary, Ownership Percentage, Parent						23.50%
Units Issued During Period, Units, New Issues (in shares)					13,225,000	132,250,000
SPAC Units, Composition, Number of Shares Per Unit (in shares)						1
SPAC, Placement Units, Number of Units Purchased (in shares)					754,000
SPAC, Placement Units, Price Per Share (in dollars per share)					$ 10
SPAC, Purchase Units, Payments for the Purchase of Equity					$ 7,540,000
Stock Issuance Costs					7,738,161
Underwriting Discounts and Commission					2,645,000
Deferred Underwriting Fees					4,628,750
Other Equity Offering Costs					$ 464,411

Note 10 - Stockholders' Equit_2

Note 10 - Stockholders' Equity (Details Textual)						3 Months Ended		9 Months Ended		12 Months Ended	140 Months Ended
	Jul. 12, 2021 $ / shares shares	Jun. 17, 2021 USD ($) shares	Jun. 17, 2021 USD ($) shares	Jun. 15, 2021 USD ($) $ / shares shares	Jan. 23, 2012 USD ($) $ / shares shares	Sep. 30, 2023 USD ($) $ / shares shares	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) $ / shares shares	Sep. 30, 2022 USD ($) $ / shares	Dec. 31, 2022 USD ($) $ / shares shares	Sep. 30, 2023 USD ($) $ / shares shares	Sep. 15, 2022 USD ($)	Jan. 21, 2022 $ / shares shares	Sep. 17, 2021 USD ($)	Aug. 31, 2021 $ / shares shares
Preferred Stock, Shares Authorized (in shares)						1,000,000		1,000,000			1,000,000
Shares Issued, Price Per Share (in dollars per share) | $ / shares					$ 19
Maximum Individual Common Stock Ownership, Percentage						9.80%		9.80%			9.80%
Number of Limited Partnerships in which Company is Sole General Partner								5
Registered Shares of Common Stock Pursuant to Dividend Reinvestment Plan (in shares)					3,000,000
Common Stock, Percentage of Purchase Price Per Share					95%
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)											917,074
Commercial Property [Member] | Partially Owned Properties [Member]
Number of Real Estate Properties						2		2			2
Class A Common Stock and Accompanying Common Stock Warrants [Member]
Shares Issued, Price Per Share (in dollars per share) | $ / shares	$ 5
Class A Common Stock and Accompanying Pre-funded Warrants [Member]
Shares Issued, Price Per Share (in dollars per share) | $ / shares	$ 4.99
Common Stock Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	2,000,000
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares	$ 5.5
Warrants and Rights Outstanding, Term (Year)	5 years
Pre-funded Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	1,000,000
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares	$ 0.01
Placement Agent Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)															80,000
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares															$ 6.25
Warrants and Rights Outstanding, Term (Year)															5 years
Class of Warrant or Right, Securities Called By Warrants or Rights, Percentage of Class of Stock															4%
Common Stock Warrants and Placement Agent Warrants [Member]
Class of Warrant or Right, Exercised During Period (in shares)								0
Series A Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares													$ 7
Warrants and Rights Outstanding, Term (Year)													5 years
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares)													1
Series D Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)						1,000,000		1,000,000		1,000,000	1,000,000
Stock Issued During Period, Shares, New Issues (in shares)		920,000		800,000
Shares Issued, Price Per Share (in dollars per share) | $ / shares				$ 25
Proceeds from Issuance of Preferred Stock and Preference Stock | $		$ 20,500,000		$ 18,100,000
Preferred Stock, Dividend Rate, Percentage								9.375%
Preferred Stock, Liquidation Preference Per Share (in dollars per share) | $ / shares						$ 25		$ 25		$ 25	$ 25
Preferred Stock, Dividend Rate, Per-Dollar-Amount (in dollars per share) | $ / shares								$ 2.34375
Preferred Stock, Number of Board of Directors Entitled to Vote if Dividends not Paid for 18 Monthly Dividend Periods						2		2			2
Preferred Stock, Percentage of Outstanding Shares Required to Authorize Senior Ranking Stock						66.67%		66.67%			66.67%
Preferred Stock, Redemption Price Per Share (in dollars per share) | $ / shares						$ 25		$ 25			$ 25
Preferred Stock, Dividends Per Share, Declared (in dollars per share) | $ / shares								$ 1.75779	$ 1.75779
Payments of Dividends | $								$ 500,000	$ 500,000
Stock Repurchase Program, Authorized Amount | $												$ 4,000,000
Stock Repurchased During Period, Shares (in shares)								15,047		6,013
Stock Repurchased, Average Cost Per Share (in dollars per share) | $ / shares								$ 16.67		$ 20.31
Stock Repurchased, Commission Per Share (in dollars per share) | $ / shares								$ 0.035		$ 0.035
Stock Repurchased During Period, Value | $								$ 250,769		$ 122,141
Series D Preferred Stock [Member] | Monthly Dividends [Member]
Preferred Stock, Dividends Per Share, Declared (in dollars per share) | $ / shares								$ 0.19531
Series D Preferred Stock [Member] | Over-Allotment Option [Member]
Stock Issued During Period, Shares, New Issues (in shares)			120,000
Proceeds from Issuance of Preferred Stock and Preference Stock | $			$ 2,700,000
Option to Purchase Additional Shares, Period (Day)				45 days
Common Class A [Member]
Stock Issued During Period, Shares, New Issues (in shares)	1,000,000
Payments of Dividends | $						$ 300,000	$ 200,000	$ 900,000	$ 2,900,000
Common Stock, Shares Authorized (in shares)						100,000,000		100,000,000		100,000,000	100,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares						$ 0.01		$ 0.01		$ 0.01	$ 0.01
Common Stock, Shares, Issued (in shares)						11,859,726		11,859,726		11,807,893	11,859,726
Stock Repurchase Program, Authorized Amount | $												$ 6,000,000		$ 10,000,000
Stock Repurchased During Period, Shares (in shares)								0		196,631
Stock Repurchased, Average Cost Per Share (in dollars per share) | $ / shares										$ 1.59
Stock Repurchased, Commission Per Share (in dollars per share) | $ / shares										$ 0.035
Stock Repurchased During Period, Value | $										$ 313,578
Common Class B [Member]
Common Stock, Shares Authorized (in shares)						1,000		1,000			1,000
Common Stock, Shares, Issued (in shares)						0		0			0
Common Class C [Member]
Common Stock, Shares Authorized (in shares)						9,000,000		9,000,000			9,000,000
Common Stock, Shares, Issued (in shares)						0		0			0
Common Stock, Number of Entitled Votes						1		1			1

Note 10 - Stockholders' Equit_3

Note 10 - Stockholders' Equity - Dividends Declared (Details) - $ / shares	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Common Class A [Member]
Cash Dividend Declared (in dollars per share)	$ 0.068	$ 0.231
Common Class A [Member] | Dividends Declared, March 31 [Member]
Cash Dividend Declared (in dollars per share)	0.022	0.105
Common Class A [Member] | Dividends Declared, June [Member]
Cash Dividend Declared (in dollars per share)	0.023	0.106
Common Class A [Member] | Dividends Declared, September 30 [Member]
Cash Dividend Declared (in dollars per share)	0.023	0.02
Series D Preferred Stock [Member]
Distributions Declared (in dollars per share)	1.75779	1.75779
Series D Preferred Stock [Member] | Dividends Declared, January [Member]
Distributions Declared (in dollars per share)	0.19531	0.19531
Series D Preferred Stock [Member] | Dividends Declared, June [Member]
Distributions Declared (in dollars per share)	0.19531	0.19531
Series D Preferred Stock [Member] | Dividends Declared, February [Member]
Distributions Declared (in dollars per share)	0.19531	0.19531
Series D Preferred Stock [Member] | Dividends Declared, March [Member]
Distributions Declared (in dollars per share)	0.19531	0.19531
Series D Preferred Stock [Member] | Dividends Declared, April [Member]
Distributions Declared (in dollars per share)	0.19531	0.19531
Series D Preferred Stock [Member] | Dividends Declared, May [Member]
Distributions Declared (in dollars per share)	0.19531	0.19531
Series D Preferred Stock [Member] | Dividends Declared, July [Member]
Distributions Declared (in dollars per share)	0.19531	0.19531
Series D Preferred Stock [Member] | Dividends Declared, August [Member]
Distributions Declared (in dollars per share)	0.19531	0.19531
Series D Preferred Stock [Member] | Dividends Declared, September [Member]
Distributions Declared (in dollars per share)	$ 0.19531	$ 0.19531

Note 11 - Share-based Incenti_3

Note 11 - Share-based Incentive Plan (Details Textual) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jun. 01, 2023	May 26, 2022	Jan. 23, 2012	Dec. 31, 2006
Shares Issued, Price Per Share (in dollars per share)								$ 19
Share-Based Payment Arrangement, Expense	$ 0.3		$ 0.3	$ 0.8	$ 0.9
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 2.4			$ 2.4
The 2017 Incentive Award Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares)						3,500,000	2,500,000
Restricted Stock [Member]
Shares Issued, Price Per Share (in dollars per share)									$ 20
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)				5 years

Note 11 - Share-based Incenti_4

Note 11 - Share-based Incentive Plan - Summary of Activity for Restricted Stock (Details) - Restricted Stock [Member]	9 Months Ended
	Sep. 30, 2023 shares
Balance (in shares)	349,042
Granted (in shares)	1,006,430
Forfeited (in shares)	(11,401)
Vested (in shares)	(51,833)
Balance (in shares)	1,292,238

Note 12 - Segments (Details Tex

Note 12 - Segments (Details Textual)	9 Months Ended
	Sep. 30, 2023
Number of Reportable Segments	3

Note 12 - Segments - Operating

Note 12 - Segments - Operating Income by Segment (Details) - USD ($)	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Rental, fees and other income	$ 4,484,174			$ 4,391,975			$ 13,149,538	$ 13,285,977
Property and related expenses	(1,478,479)			(1,434,225)			(4,452,628)	(4,365,781)
General and administrative expenses	(1,635,610)			(1,509,139)			(5,413,413)	(4,306,835)
Depreciation and amortization	(1,351,705)			(1,318,164)			(4,054,109)	(3,973,582)
Interest expense	(1,375,199)			(1,382,120)			(3,579,381)	(3,485,693)
Loss on Conduit marketable securities	(17,682,154)			0			(17,682,154)	0
Gain on deconsolidation of SPAC	40,321,483			0			40,321,483	0
Other income, net	254,486			590,586			1,394,687	757,318
Income tax expense	(134,620)			(294,996)			(632,147)	(819,520)
Gain on sale of real estate	757,285			1,307,258			2,294,574	4,057,527
Net income	22,159,661	$ (204,752)	$ (608,459)	351,175	$ 418,046	$ 380,190	21,346,450	1,149,411
Operating Segments [Member]
Net operating income, as defined	3,005,695			2,957,750			8,696,910	8,920,196
Office/Industrial Properties [Member] | Operating Segments [Member]
Rental, fees and other income	2,928,103			3,175,608			8,810,167	9,448,747
Property and related expenses	(1,303,654)			(1,278,805)			(3,966,587)	(3,809,729)
Net operating income, as defined	1,624,449			1,896,803			4,843,580	5,639,018
Model Home Properties [Member] | Operating Segments [Member]
Rental, fees and other income	1,093,778			718,331			2,970,940	2,125,623
Property and related expenses	(44,201)			(23,479)			(121,998)	(76,687)
Net operating income, as defined	1,049,577			694,852			2,848,942	2,048,936
Retail Properties [Member] | Operating Segments [Member]
Rental, fees and other income	457,292			498,038			1,396,160	1,722,723
Property and related expenses	(125,623)			(131,943)			(391,772)	(490,481)
Net operating income, as defined	$ 331,669			$ 366,095			$ 1,004,388	$ 1,232,242

Note 12 - Segments - Assets by

Note 12 - Segments - Assets by Reportable Segment (Details) - USD ($)		Sep. 30, 2023	Dec. 31, 2022
Total assets		$ 177,933,389	$ 291,351,654
Cash, cash equivalents and restricted cash		7,778,764	16,516,725
Other assets, net		39,485,084	23,968,241
Operating Segments [Member]
Total assets		139,050,652	131,143,170
Segment Reconciling Items [Member]
Total assets		177,933,389	291,351,654
Cash, cash equivalents and restricted cash		2,380,691	8,570,121
Other assets, net		36,502,046	151,638,363
Office/Industrial Properties [Member] | Operating Segments [Member]
Land, buildings and improvements, net	[1]	76,477,337	76,400,983
Total assets	[2]	77,334,728	79,057,998
Model Home Properties [Member] | Operating Segments [Member]
Land, buildings and improvements, net	[1]	45,991,453	37,933,824
Total assets	[2]	45,181,672	35,274,545
Retail Properties [Member] | Operating Segments [Member]
Land, buildings and improvements, net	[1]	15,959,020	16,142,613
Total assets	[2]	$ 16,534,252	$ 16,810,627
[1]Includes lease intangibles and the land purchase option related to property acquisitions.[2]Includes land, buildings and improvements, cash, cash equivalents, and restricted cash, current receivables, deferred rent receivables and deferred leasing costs and other related intangible assets, all shown on a net basis.

Note 12 - Segments - Capital Ex

Note 12 - Segments - Capital Expenditures by Reportable Segment (Details) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Capital expenditures and tenant improvements	$ 2,817,786	$ 1,939,712
Acquisition of operating properties	13,715,923	8,087,250
Total real estate investments	16,533,709	10,026,962
Office/Industrial Properties [Member]
Capital expenditures and tenant improvements	2,691,721	1,832,806
Acquisition of operating properties	13,715,923	8,087,250
Retail Properties [Member]
Capital expenditures and tenant improvements	126,065	106,906
Model Home [Member]
Acquisition of operating properties	$ 13,715,923	$ 8,087,250

Note 13 - Subsequent Events (De

Note 13 - Subsequent Events (Details Textual) - $ / shares	Nov. 10, 2023	Sep. 30, 2023	Jan. 23, 2012
Shares Issued, Price Per Share (in dollars per share)			$ 19
Common Stock [Member]
Shares Issued, Price Per Share (in dollars per share)		$ 5.97
Common Stock [Member] | Subsequent Event [Member]
Shares Issued, Price Per Share (in dollars per share)	$ 1.24
Warrant [Member]
Shares Issued, Price Per Share (in dollars per share)		$ 0.045
Warrant [Member] | Subsequent Event [Member]
Shares Issued, Price Per Share (in dollars per share)	$ 0.0202