Presidio Property Trust (SQFT) 10-Q 14 Aug 24 2024 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Aug. 13, 2024
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	Q2
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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		14,531,570
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 Cumulative Redeembale Perpetual 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 ($)	Jun. 30, 2024	Dec. 31, 2023
ASSETS
Land	$ 19,409,817	$ 21,660,644
Buildings and improvements	126,439,142	133,829,416
Tenant improvements	18,823,656	17,820,948
Lease intangibles	3,776,654	4,110,139
Real estate assets and lease intangibles held for investment, cost	168,449,269	177,421,147
Accumulated depreciation and amortization	(39,951,401)	(38,725,356)
Real estate assets and lease intangibles held for investment, net	128,497,868	138,695,791
Real estate assets held for sale, net	2,394,363	5,459,993
Real estate assets, net	130,892,231	144,155,784
Other assets:
Cash, cash equivalents and restricted cash	8,534,881	6,510,428
Deferred leasing costs, net	1,565,169	1,657,055
Goodwill	1,574,000	1,574,000
Investment in Conduit Pharmaceuticals marketable securities (see Notes 2 & 9)	4,413,989	18,318,521
Deferred tax asset	346,762	346,762
Other assets, net (see Note 6)	3,211,251	3,400,088
Total other assets	19,646,052	31,806,854
TOTAL ASSETS	150,538,283	175,962,638
Liabilities:
Mortgage notes payable, net	99,489,045	103,685,444
Mortgage notes payable related to properties held for sale, net	1,636,341	4,027,829
Mortgage notes payable, total net	101,125,386	107,713,273
Accounts payable and accrued liabilities	3,501,779	4,770,845
Accrued real estate taxes	1,097,854	1,953,087
Dividends payable	195,310	174,011
Lease liability, net	0	16,086
Below-market leases, net	10,779	13,266
Total liabilities	105,931,108	114,640,568
Equity:
Additional paid-in capital	184,402,052	182,331,408
Dividends and accumulated losses	(149,663,851)	(131,508,785)
Total stockholders' equity before noncontrolling interest	34,872,388	50,954,183
Noncontrolling interest	9,734,787	10,367,887
Total equity	44,607,175	61,322,070
TOTAL LIABILITIES AND EQUITY	150,538,283	175,962,638
Series D Preferred Stock [Member]
Liabilities:
Dividends payable	195,310
Equity:
Series D Preferred Stock, $0.01 par value per share; 1,000,000 shares authorized; 1,000,000 shares issued and outstanding (liquidation preference $25.00 per share) as of June 30, 2024 and 890,946 shares issued and outstanding as of December 31, 2023	10,000	8,909
Common Class A [Member]
Equity:
Series A Common Stock, $0.01 par value per share, 100,000,000 shares authorized; 12,418,693 shares and 12,265,061 shares were issued and outstanding at June 30, 2024 and December 31, 2023, respectively	$ 124,187	$ 122,651

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Preferred stock, shares authorized (in shares)	1,000,000
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)	1,000,000	890,946
Preferred stock, shares outstanding (in shares)	1,000,000	890,946
Preferred stock, liquidation preference (in dollars per share)	$ 25	$ 25
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)	12,418,693	12,265,061
Common stock, shares outstanding (in shares)	12,418,693	12,265,061

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Rental income	$ 4,262,942	$ 4,329,588	$ 8,682,049	$ 8,271,641
Fees and other income	323,599	214,284	694,554	393,723
Total revenue	4,586,541	4,543,872	9,376,603	8,665,364
Costs and expenses:
Rental operating costs	1,492,495	1,399,159	3,056,072	2,974,149
General and administrative	2,202,916	1,813,184	4,287,366	3,777,804
Depreciation and amortization	1,351,370	1,368,829	2,702,388	2,702,403
Impairment of real estate assets	101,245	0	196,793	0
Total costs and expenses	5,148,026	4,581,172	10,242,619	9,454,356
Other income (expense):
Interest and other income, net	5,206	398,085	9,852	1,140,201
Gain on sales of real estate, net	811,903	1,119,952	2,829,998	1,537,289
Net change in Conduit Pharmaceuticals marketable securities (see footnote 9)	(10,027,433)	0	(13,888,667)	0
Income tax expense	(81,021)	(349,074)	(160,586)	(497,527)
Total other (expense) income, net	(10,817,190)	(167,452)	(14,250,454)	(24,219)
Net loss	(11,378,675)	(204,752)	(15,116,470)	(813,211)
Less: Income attributable to noncontrolling interests	(469,365)	(1,094,852)	(1,973,233)	(1,481,933)
Net loss attributable to Presidio Property Trust, Inc. stockholders	(11,848,040)	(1,299,604)	(17,089,703)	(2,295,144)
Less: Preferred Stock Series D dividends	(543,331)	(532,285)	(1,065,363)	(1,067,733)
Net loss attributable to Presidio Property Trust, Inc. common stockholders	$ (12,391,371)	$ (1,831,889)	$ (18,155,066)	$ (3,362,877)
Net loss per share attributable to Presidio Property Trust, Inc. common stockholders:
Basic & Diluted (in dollars per share)	$ (1)	$ (0.15)	$ (1.47)	$ (0.28)
Weighted average number of common shares outstanding - basic & dilutive (in shares)	12,428,794	11,839,359	12,360,992	11,837,020
Mortgage Notes [Member]
Other income (expense):
Interest expense	$ (1,525,845)	$ (1,336,415)	$ (3,041,051)	$ (2,204,182)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($)	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]	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 A Preferred Stock [Member] Preferred Stock [Member]	Series A Preferred Stock [Member] Common Stock [Member]	Series A Preferred Stock [Member] Additional Paid-in Capital [Member]	Series A Preferred Stock [Member] Retained Earnings [Member]	Series A Preferred Stock [Member] Parent [Member]	Series A Preferred Stock [Member] Noncontrolling Interest [Member]	Series A 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, 2022																						913,987	11,807,893
Balance at Dec. 31, 2022																						$ 9,140	$ 118,079	$ 182,122,213	$ (138,341,750)	$ 43,907,682	$ 9,013,446	$ 52,921,128
Net loss																						0	0	0	(995,540)	(995,540)	387,081	(608,459)
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)
Restricted stock-based compensation																								232,106		232,106	0	232,106
Vesting of Common Stock (in shares)																						0	27,371
Vesting of Common Stock																						$ 0	$ 274	28,466		28,740	0	28,740
Repurchase of stock, at cost (in shares)	(386)	0
Repurchase of stock, at cost	$ (4)	$ 0	(6,943)	0	(6,947)	0	(6,947)
Dividends paid to Series A common stockholders								$ 0	$ 0	$ 0	$ (287,655)	$ (287,655)	$ 0	$ (287,655)
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)
Balance (in shares) at Mar. 31, 2023																						913,601	11,835,264
Balance at Mar. 31, 2023																						$ 9,136	$ 118,353	181,076,259	(140,160,393)	41,043,355	8,881,885	49,925,240
Balance (in shares) at Dec. 31, 2022																						913,987	11,807,893
Balance at Dec. 31, 2022																						$ 9,140	$ 118,079	182,122,213	(138,341,750)	43,907,682	9,013,446	52,921,128
Net loss																												(813,211)
Balance (in shares) at Jun. 30, 2023																						901,375	11,849,710
Balance at Jun. 30, 2023																						$ 9,014	$ 118,497	180,903,874	(142,294,778)	38,736,607	8,534,069	47,270,676
Balance (in shares) at Mar. 31, 2023																						913,601	11,835,264
Balance at Mar. 31, 2023																						$ 9,136	$ 118,353	181,076,259	(140,160,393)	41,043,355	8,881,885	49,925,240
Net loss																						0	0	0	(1,299,604)	(1,299,604)	1,094,852	(204,752)
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)
Restricted stock-based compensation																								228,657		228,657	0	228,657
Vesting of Common Stock (in shares)																						0	14,446
Vesting of Common Stock																						$ 0	$ 144	50,855		50,999	0	50,999
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)
Dividends paid to Series A common stockholders								$ 0	$ 0	0	(302,496)	(302,496)	0	(302,496)
Remeasurement of SPAC shares to redemption value																						$ 0	$ 0	(247,094)	0	(247,094)	0	(247,094)
Balance (in shares) at Jun. 30, 2023																						901,375	11,849,710
Balance at Jun. 30, 2023																						$ 9,014	$ 118,497	180,903,874	(142,294,778)	38,736,607	8,534,069	47,270,676
Balance (in shares) at Dec. 31, 2023																						890,946	12,265,061
Balance at Dec. 31, 2023																						$ 8,909	$ 122,651	182,331,408	(131,508,785)	50,954,183	10,367,887	61,322,070
Net loss																						0	0	0	(5,241,663)	(5,241,663)	1,503,868	(3,737,795)
Dividends to Series D preferred stockholders	0	0	0	(522,032)	(522,032)	0	(522,032)
Distributions in excess of contributions received																						$ 0	$ 0	0	0	0	(1,603,357)	(1,603,357)
Restricted stock-based compensation (in shares)																						0	0
Restricted stock-based compensation																						$ 0	$ 0	317,077	0	317,077	0	317,077
Vesting of Common Stock (in shares)																						0	164,078
Vesting of Common Stock																						$ 0	$ 1,640	223,204		224,844	0	224,844
Balance (in shares) at Mar. 31, 2024																						890,946	12,429,139
Balance at Mar. 31, 2024																						$ 8,909	$ 124,291	182,871,689	(137,272,480)	45,732,409	10,268,398	56,000,807
Balance (in shares) at Dec. 31, 2023																						890,946	12,265,061
Balance at Dec. 31, 2023																						$ 8,909	$ 122,651	182,331,408	(131,508,785)	50,954,183	10,367,887	61,322,070
Net loss																												(15,116,470)
Balance (in shares) at Jun. 30, 2024																						1,000,000	12,418,693
Balance at Jun. 30, 2024																						$ 10,000	$ 124,187	184,402,052	(149,663,851)	34,872,388	9,734,787	44,607,175
Balance (in shares) at Mar. 31, 2024																						890,946	12,429,139
Balance at Mar. 31, 2024																						$ 8,909	$ 124,291	182,871,689	(137,272,480)	45,732,409	10,268,398	56,000,807
Net loss																						0	0	0	(11,848,040)	(11,848,040)	469,365	(11,378,675)
Dividends to Series D preferred stockholders	$ 0	$ 0	0	(543,331)	(543,331)	0	(543,331)
Distributions in excess of contributions received																						$ 0	$ 0	0	0	0	(1,002,976)	(1,002,976)
Restricted stock-based compensation (in shares)																						0	0
Restricted stock-based compensation																						$ 0	$ 0	343,108	0	343,108	0	343,108
Issuance of preferred stock Series D preferred stock, net of issuance costs (in shares)	109,054	0
Issuance of preferred stock Series D preferred stock, net of issuance costs	$ 1,091	$ 0	$ 1,194,764	$ 0	$ 1,195,855	$ 0	$ 1,195,855
Repurchase of stock, at cost (in shares)								0	(10,446)
Repurchase of stock, at cost								$ 0	$ (104)	$ (7,509)	$ 0	$ (7,613)	$ 0	$ (7,613)
Balance (in shares) at Jun. 30, 2024																						1,000,000	12,418,693
Balance at Jun. 30, 2024																						$ 10,000	$ 124,187	$ 184,402,052	$ (149,663,851)	$ 34,872,388	$ 9,734,787	$ 44,607,175

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Cash flows from operating activities:
Net loss	$ (11,378,675)	$ (3,737,795)	$ (204,752)	$ (608,459)	$ (15,116,470)	$ (813,211)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,351,370		1,368,829		2,702,388	2,702,403
Stock compensation					885,029	540,501
Bad debt expense					0	32,729
Gain on sale of real estate assets, net	(811,903)		(1,119,952)		(2,829,998)	(1,537,289)
Net change in fair value SPAC Trust Account					0	(939,522)
Impairment of real estate assets	101,245		0		196,793	0
Amortization of financing costs					214,071	187,303
Amortization of below-market leases					(2,487)	(2,487)
Straight-line rent adjustment					(95,602)	(240,007)
Changes in operating assets and liabilities:
Other assets					588,866	(399,159)
Accounts payable and accrued liabilities					(1,440,070)	239,297
Accounts payable and accrued liabilities for the SPAC					0	(281,723)
Accrued real estate taxes					(855,233)	(902,217)
Net cash used in operating activities					(1,863,486)	(1,603,709)
Cash flows from investing activities:
Real estate acquisitions					(5,740,918)	(12,932,128)
Additions to buildings and tenant improvements					(1,213,936)	(1,001,836)
Investment in marketable securities					0	(1,826,458)
Proceeds from sale of marketable securities					60,467	1,951,095
Investment of SPAC IPO proceeds into Trust Account					0	(389,942)
Withdrawals from Trust Account for SPAC taxes					0	792,480
Withdrawals from Trust Account for Redemption of SPAC Shares					0	114,068,280
Deferred leasing costs					3,872	3,872
Proceeds from sales of real estate, net					20,058,923	4,590,187
Net cash provided by investing activities					13,168,408	105,255,550
Cash flows from financing activities:
Proceeds from mortgage notes payable, net of issuance costs					10,663,089	12,848,849
Repayment of mortgage notes payable					(17,110,515)	(6,417,278)
Payment of deferred offering costs					(349,589)	0
Distributions to noncontrolling interests, net					(2,606,333)	(1,961,310)
Redemption of SPAC shares					0	(114,068,280)
Issuance of Series D Preferred Stock, net of offering costs					1,195,855	0
Repurchase of Series A Common Stock, at cost					(7,613)	0
Dividends paid to Series D Preferred Stockholders					(1,065,363)	(1,067,733)
Dividends paid to Series A Common Stockholders					0	(590,151)
Net cash used in financing activities					(9,280,469)	(111,467,775)
Net change in cash, cash equivalents and restricted cash					2,024,453	(7,815,934)
Cash, cash equivalents and restricted cash - beginning of period		$ 6,510,428		$ 16,516,725	6,510,428	16,516,725	$ 16,516,725
Cash, cash equivalents and restricted cash - end of period	8,534,881		8,700,791		8,534,881	8,700,791	6,510,428
Non-cash investing activities:
Private warrants from Conduit Pharmaceuticals					156,600	0
Non-cash financing activities:
Accrued excise tax on January 24, 2023 SPAC redemptions					0	1,140,683
Dividends payable - Preferred Stock Series D	195,310				195,310		$ 174,011
Mortgage Notes [Member]
Supplemental disclosure of cash flow information:
Interest paid					2,810,393	2,351,642
Series D Preferred Stock [Member]
Cash flows from financing activities:
Repurchase of Series D Preferred Stock, at cost					0	(211,872)
Non-cash financing activities:
Dividends payable - Preferred Stock Series D	$ 195,310		$ 177,145		195,310	177,145
Conduit Pharmaceuticals Inc [Member]
Adjustments to reconcile net loss to net cash used in operating activities:
Net change in fair value marketable securities					13,888,667	0
All Other Than Conduit [Member]
Adjustments to reconcile net loss to net cash used in operating activities:
Net change in fair value marketable securities					$ 560	$ (190,327)

Note 1 - Organization

Note 1 - Organization	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Organization. September 28, 1999, August 2010, October 2017, two September 2023) The Company or one • The Company is the sole general partner and limited partner in two June 30, 2024 • The Company is the general and limited partner in six limited partnerships that purchase model homes and lease them back to homebuilders as commercial tenants (Dubose Model Home Investors #202, #203, #204, #205, #206, #207, 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 11 Short-term liquidity needs include paying our current operating costs, satisfying the debt service requirements of existing mortgages, completing ten ant improvements o n our commercial buildings, paying leasing commissions, and funding dividends, if any, to stockholders. Future principal payments due on mortgage notes payables, during the next two 2024 , of which is related to model home properties. See Note 7. July 6, 2024. 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, 9.

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. There have been no 2024 December 31, 2023 2024 Basis of Presentation. 10 8 X. June 30, 2024 December 31, 2023 three six June 30, 2024 2023 not may December 31, 2024 2024 December 31, 2023 2024 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 2024 2023 ncluded the accumulated amount of noncontrolling interests as part of equity since inception in February 2010. consolidated statements of operations. Management has evaluated the noncontrolling interests and determined that they do 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 ov 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 $1,244 and $2,487 in each period for the three six June 30, 2024 three six June 30, 2023 The value of in-place leases and unamortized lease origination costs a re amortized to expenses over the remaining term of the respe ctive leases, which range fro m less than a year to ten The amount allocated to unamortized lease origination costs is determined by what the Company would have paid to a third $4,382 and $8,763 during each period for the three six June 30, 2024 and for the three six June 30, 2023 . Deferred Leasing Costs. Costs incurred in connection with successful 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 June 30, 2024 and December 31, 2023 , the Company had net deferred leasing costs of approxima tely $1.6 million and $1.7 million, respectively. Total amortization expense for the three six June 30, 2024 three six June 30, 2023 , was approximately $122,330 Cash Equivalents and Restricted Cash. June 30, 2024 December 31, 2023 three may $250,000 No June 30, 2024 December 31, 2023 Real Estate Held for Sale and Discontinued Operations. one not June 30, 2024 no five Deferred Offering Costs. June 30, 2024 and December 31, 2023 zero the end of each period related to our registration statement on Form S- 3. 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 may We review the carrying value of each of our real estate properties regularly to determine if circumstances indicate an impairment in the carrying value of these investments exists. During the three six June 30, 2024 three six June 30, 2023 not The new impairment charges for the model homes, during the three June 30, 2024 July August 2024 two 2022. not 3 Recent Real Estate Transactions six June 30, 2024 not three six June 30, 2023 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 June 30, 2024 not December 31, 2023 third 1 no June 30, 2024 December 31, 2023 . On April 22, 2024, not one two one 321, Investments - Equity Securities 321" 815, Derivatives and Hedging 815" April 22, 2024, 3 June 30, 2024 June 30, 2024 1 2022 03, Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions June 30, 2024 June 30, 2024 1 December 31, 2023 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 June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 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 2,034,663 1,302,254 2,034,663 1,302,254 Total potentially dilutive shares 18,564,732 17,832,323 18,564,732 17,832,323 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 Immaterial Error Corrections second 2024, 718. December 31, 2022, December 31, 2023, three March 31, 2023, June 30, 2023, March 31, 2024, On the balance sheet as of December 31, 2023, three March 31, 2023 June 30, 2023 three March 31, 2024 not Reclassifications not Subsequent Events. We evaluate subsequen t events up until the date the condensed consolidated financial statements are issued. Recently Issued and Adopted Accounting Pronouncements. December 2023, 2023 09, Income Taxes December 15, 2024 not 2023 09 November 2023, 2023 07, Segment Reporting 280. 280, not December 15, 2023 December 15, 2024 not 2023 07 In August 2023, 2023 05, "Business Combinations Joint Venture Formations (Subtopic 805 60 2023 05"}. 2023 05 not 2023 05 2023 05 January 1, 2025, not 2023 05 not In March 2024, 1o/o January 1, 2025 April 4, 2024,

Note 3 - Recent Real Estate Tra

Note 3 - Recent Real Estate Transactions	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Real Estate Disclosure [Text Block]	3. Acquisitions during the six June 30, 2024 : • The Company acquired 12 model homes for approximately $5.7 million. The purchase price was paid through cash payments of approximately $1.7 million and mortgage notes of approximately $4.0 million. Acquisitions during the six June 30, 2023: • The Company acquired 23 model homes for approximately $12.9 million. The purchase price was paid through cash payments of approximately $3.9 million and mortgage notes of approximately $9.0 million. Dispositions during the six June 30, 2024 : • The Company sold 42 model homes for approximately $20.1 million and recognized a gain of approximately $2.8 million. Dispositions during the six June 30, 2023: • The Company sold 10 model homes for approximately $4.6 million and recognized a gain of approximately $1.5 million.

Note 4 - Real Estate Assets

Note 4 - Real Estate Assets	6 Months Ended
	Jun. 30, 2024
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 June 30, 2024 • Eight office buildings and one industrial property (“Office/Industrial Properties”) which total approximately 758,175 rentable square feet; • Three retail shopping centers (“Retail Properties”) which total approximately 65,242 rentable square feet; and • 80 model home residential properties (“Model Homes” or “Model Home Properties”), totaling approximately 241,309 square feet, leased back on a triple-net basis to homebuilders, that are owned by five affiliated limited partnerships and one wholly-owned corporation, all of which we control. A summary of the properties owned by the Company as of June 30, 2024 December 31, 2023 Date Real estate assets, net Property Name Acquired Location June 30, 2024 December 31, 2023 Genesis Plaza (1) August 2010 San Diego, CA $ 7,279,469 $ 7,542,725 Dakota Center May 2011 Fargo, ND 9,035,911 9,201,883 Grand Pacific Center (2) March 2014 Bismarck, ND 8,590,122 8,274,454 Arapahoe Center December 2014 Centennial, CO 9,442,896 9,341,991 Union Town Center December 2014 Colorado Springs, CO 8,981,393 8,918,742 West Fargo Industrial August 2015 Fargo, ND 6,694,012 6,819,765 300 N.P. August 2015 Fargo, ND 2,738,408 2,774,176 Research Parkway August 2015 Colorado Springs, CO 2,235,636 2,266,173 One Park Center (3) August 2015 Westminster, CO 5,598,631 5,700,000 Shea Center II (4) December 2015 Highlands Ranch, CO 19,041,747 19,367,289 Mandolin (5) August 2021 Houston, TX 4,646,418 4,692,274 Baltimore December 2021 Baltimore, MD 8,353,811 8,466,165 Presidio Property Trust, Inc. properties 92,638,454 93,365,637 Model Home properties (6) 2017 2024 AZ, FL, TX 38,253,777 50,790,147 Total real estate assets and lease intangibles, net $ 130,892,231 $ 144,155,784 ( 1 Genesis Plaza is owned by two ( 2 Grand Pacific Center, Bismarck, ND, was removed from held-for-sale after signing a major lease with KLJ Engineering on December 7, 2022 122 December 2023, February 28, 2024. ( 3 During the year ended December 31, 2023, ( 4 On December 31, 2022, not none December 31, 2023. 20% 2023 80%. June 30, 2024 third no ( 5 A portion of the proceeds from the sale of Highland Court were used in like-kind exchange transactions pursued under Section 1031 ( 6 Includes Model Homes listed as held for sale as of June 30, 2024 and December 31, 2023 six June 30, 2024 2024. two

Note 5 - Lease Intangibles

Note 5 - Lease Intangibles	6 Months Ended
	Jun. 30, 2024
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: June 30, 2024 December 31, 2023 Lease Intangibles Accumulated Amortization Lease Intangibles, net Lease Intangibles Accumulated Amortization Lease Intangibles, net In-place leases $ 2,515,264 $ (2,499,908 ) $ 15,356 $ 2,515,264 $ (2,495,016 ) $ 20,248 Leasing costs 1,261,390 (1,248,207 ) 13,183 1,261,390 (1,244,335 ) 17,055 Above-market leases — — — 333,485 (333,485 ) — $ 3,776,654 $ (3,748,115 ) $ 28,539 $ 4,110,139 $ (4,072,836 ) $ 37,303 At June 30, 2024 December 31, 2023 no The net value of acquired intangible liabilities was approximately $10,779 and $13,266 relating to below-market leases at June 30, 2024 December 31, 2023 Future aggregate approximate amortization expense for the Company's lease intangible assets is as follows: 2024 $ 8,763 2025 15,669 2026 4,107 Total $ 28,539

Note 6 - Other Assets

Note 6 - Other Assets	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Other Assets Disclosure [Text Block]	6. Other assets consist of the following: June 30, December 31, 2024 2023 Deferred rent receivable $ 2,069,489 $ 1,973,887 Prepaid expenses, deposits and other 513,373 349,160 Notes receivable 316,374 316,374 Accounts receivable, net 312,015 694,869 Deferred offering costs — 5,000 Right-of-use assets, net — 15,649 Investment in marketable securities (not including Conduit) — 45,149 Total other assets $ 3,211,251 $ 3,400,088 Periodically, the Company may third not 815 not may no may As of June 30, 2024 not December 31, 2023 December 31, 2023 December 31, 2023

Note 7 - Mortgage Notes Payable

Note 7 - Mortgage Notes Payable	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Mortgage Notes Payable Disclosure [Text Block]	7. Mortgage notes payable consist of the following: Principal as of June 30, December 31, Loan Interest Mortgage note property 2024 2023 Type Rate (1) Maturity Dakota Center (2) (6) $ 9,091,395 $ 9,197,346 Fixed 4.74 % 7/6/2024 Research Parkway (6) 1,558,105 1,588,742 Fixed 3.94 % 1/5/2025 Arapahoe Service Center (6) 7,335,510 7,426,088 Fixed 4.34 % 1/5/2025 Union Town Center (6) 7,790,979 7,870,468 Fixed 4.28 % 1/5/2025 One Park Centre 5,982,452 6,043,882 Fixed 4.77 % 9/5/2025 Genesis Plaza 5,876,284 5,937,251 Fixed 4.71 % 9/6/2025 Shea Center II (6) 16,807,761 16,951,095 Fixed 4.92 % 1/5/2026 West Fargo Industrial (3) 5,750,000 3,922,829 Fixed 7.14 % 7/6/2029 Grand Pacific Center (4) 6,341,208 5,470,305 Fixed 6.35 % 5/5/2033 Baltimore 5,670,000 5,670,000 Fixed 4.67 % 4/6/2032 Mandolin 3,541,304 3,573,201 Fixed 4.35 % 4/20/2029 Subtotal, Presidio Property Trust, Inc. Properties $ 75,744,998 $ 73,651,207 Model Home mortgage notes (5) 26,274,481 34,815,699 Fixed 2024 2029 Mortgage Notes Payable $ 102,019,479 $ 108,466,906 Unamortized loan costs (894,093 ) (753,633 ) Mortgage Notes Payable, net $ 101,125,386 $ 107,713,273 ( 1 Interest rates as of June 30, 2024 ( 2 The loan on the Dakota Center matured on July 6, 2024. August 12, 2024, not August. ( 3 On June 20, 2024, five 1.00 ( 4 On May 5, 2023, first 60 first 60 June 30, 2024 ( 5 As of June 30, 2024 five June 30, 2024 ( 6 These mortgage loans mature within the next twelve not The loan agreement between NetREIT Model, Homes, Inc. (“NRMH”) and its Lender has a covenant for a Fixed Charge Coverage Ratio (“FCCR”) as defined for NRMH as of any date that equals (a) the sum of (i) EBITDA for the period ended as of such date minus (ii) distributions for the period ended as of such date divided by (b) the sum of (i) principal payments paid for the period ended as of such date plus (ii) interest expense for period ended as of such date. The FCCR is to be no 1.00, December 31, 2023, June 30, 2024 Scheduled principal payments of mortgage notes payable were as follows as of June 30, 2024 Presidio Property Model Trust, Inc. Homes Total Principal Years ending December 31: Notes Payable Notes Payable Payments 2024 $ 9,635,272 $ 2,898,031 $ 12,533,303 2025 28,645,113 9,525,273 38,170,386 2026 16,521,064 932,102 17,453,166 2027 157,739 465,084 622,823 2028 168,907 9,110,909 9,279,816 Thereafter 20,616,903 3,343,082 23,959,985 Total $ 75,744,998 $ 26,274,481 $ 102,019,479

Note 8 - Notes Payable

Note 8 - Notes Payable	6 Months Ended
	Jun. 30, 2024
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 June 30, 2024 , one 202 one August 15, 2024.

Note 9 - Investment in Conduit

Note 9 - Investment in Conduit Pharmaceuticals	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Investment [Text Block]	9. INVESTMENT IN CONDUIT PHARMACEUTICALS 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 $664,232 of income during the six June 30, 2023 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, 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 3 2022 03 Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions June 30, 2024 180 March 20, 2024. On April 22, 2024, not one two one June 30, 2024 1 3

Note 10 - Commitments and Conti

Note 10 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	10. 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 June 30, 2024 , approximately $1.0 million is estimated for such capital expenditures on existing properties, net of any construction financing, during the rest of the year. On March 13, 2024, may may may May 9, 2024, 2026 six seven 2024 June 27, 2024. not Litigation. may Environmental matters. no not not not Financial Markets. may not

Note 11 - Stockholders' Equity

Note 11 - Stockholders' Equity	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Equity [Text Block]	11. Preferred Stock. may one On June 15, 2021, June 17, 2021, On June 20, 2024, The Benchmark Company, LLC June 24, 2024, 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 June 30, 2024 15th three six June 30, 2024 three six June 30, 2023 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 480 815 June 30, 2024 none Stock Repurchase Program September 15, 2022, September 2023. November 2023, November 2024. December 31, 2023, no six June 30, 2024 no six June 30, 2024 Cash Dividends on Common Stock. three six June 30, 2024 not three six June 30, 2023 no may no first two 2024 six June 30, 2024 2023 Series A Common Stock Quarter Ended 2024 2023 Distributions Declared Distributions Declared March 31 $ - $ 0.022 June 30 - 0.023 Total $ - $ 0.045 Series D Preferred Stock Month 2024 2023 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 Total $ 1.17186 $ 1.17186 Partnership Interests. two five first one

Note 12 - Share-based Incentive

Note 12 - Share-based Incentive Plan	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	12. The Company maintains a restricted stock incentive plan for the purpose of attracting and retaining officers, 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 May 26, 2022, 2017 June 1, 2023, 2017 April 1 st October 1 st 15% 15% A summary of the activity for the Company's restricted stock was as follows: Outstanding shares: Common Shares Balance at December 31, 2023 760,995 Granted 1,437,746 Vested (164,078 ) Balance at June 30, 2024 2,034,663 The non-vested restricted shares outstanding as of June 30, 2024 one four Share-based compensation expense was approximately $0.3 million and $0.9 million for the three six June 30, 2024 three six June 30, 2023 June 30, 2024 ,

Note 13 - Segments

Note 13 - Segments	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	13. 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) excluding interest expense. 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 six June 30, 2024 June 30, 2023 Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Office/Industrial Properties: Rental, fees and other income $ 2,955,272 $ 3,020,066 $ 5,922,992 $ 5,882,064 Property and related expenses (1,294,149 ) (1,202,243 ) (2,676,542 ) (2,662,932 ) Net operating income, as defined 1,661,123 1,817,823 3,246,450 3,219,132 Model Home Properties: Rental, fees and other income 1,155,416 1,022,041 2,424,369 1,877,161 Property and related expenses (142,951 ) (46,801 ) (279,728 ) (77,797 ) Net operating income, as defined 1,012,465 975,240 2,144,641 1,799,364 Retail Properties: Rental, fees and other income 475,853 480,001 1,029,241 938,868 Property and related expenses (156,640 ) (128,351 ) (296,594 ) (266,149 ) Net operating income, as defined 319,213 351,650 732,647 672,719 Reconciliation to net income: Total net operating income, as defined, for reportable segments 2,992,801 3,144,713 6,123,738 5,691,215 General and administrative expenses (2,202,916 ) (1,813,184 ) (4,287,366 ) (3,777,804 ) Depreciation and amortization (1,351,370 ) (1,368,829 ) (2,702,388 ) (2,702,403 ) Interest expense (1,525,845 ) (1,336,415 ) (3,041,051 ) (2,204,182 ) Loss on Conduit Pharmaceuticals marketable securities (10,027,433 ) — (13,888,667 ) — Other income, net 5,206 398,085 9,852 1,140,201 Income tax expense (81,021 ) (349,074 ) (160,586 ) (497,527 ) Gain on sale of real estate 811,903 1,119,952 2,829,998 1,537,289 Net loss $ (11,378,675 ) $ (204,752 ) $ (15,116,470 ) $ (813,211 ) June 30, December 31, Assets by Reportable Segment: 2024 2023 Office/Industrial Properties: Land, buildings and improvements, net (1) $ 76,768,551 $ 77,472,724 Total assets (2) $ 77,076,636 $ 78,140,372 Model Home Properties: Land, buildings and improvements, net (1) $ 38,253,777 $ 50,790,147 Total assets (2) $ 39,538,041 $ 51,456,292 Retail Properties: Land, buildings and improvements, net (1) $ 15,863,447 $ 15,877,190 Total assets (2) $ 16,541,354 $ 16,539,399 Reconciliation to Total Assets: Total assets for reportable segments $ 133,156,031 $ 146,136,063 Other unallocated assets: Cash, cash equivalents and restricted cash 2,469,278 277,143 Other assets, net 14,912,974 29,549,432 Total Assets $ 150,538,283 $ 175,962,638 ( 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 Six Months Ended June 30, Capital Expenditures by Reportable Segment 2024 2023 Office/Industrial Properties: Capital expenditures and tenant improvements, office $ 1,010,815 $ 905,132 Model Home Properties: Acquisition of operating properties, model home 5,740,918 12,932,128 Retail Properties: Capital expenditures and tenant improvements, retail 203,121 96,704 Totals: Acquisition of operating properties, net 5,740,918 12,932,128 Capital expenditures and tenant improvements 1,213,936 1,001,836 Total real estate investments $ 6,954,854 $ 13,933,964

Note 14 - Income Tax Provision

Note 14 - Income Tax Provision	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	14. We have elected to be taxed as a REIT under the Internal Revenue Code of 1986, December 31, 2000. 90% 100% During the six June 30, 2024 2023 June 30, 2024 December 31, 2023 We have calculated the provision for income taxes during interim reporting periods by applying an estimate of the annual effective tax rate for the projected full fiscal year to the TRS pretax income or loss excluding unusual or infrequently occurring discrete items for the reporting period, and have accounted for the REIT's minimum state income taxes as a discrete item in the reporting period. In December 2023, 2023 09 2023 09" 2023 09 2023 09 December 15, 2024 not

Note 15 - Related Party

Note 15 - Related Party	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	15. During the three six June 30, 2024 June 30, 2023, three six June 30, 2024 three six June 30, 2023 Additionally, we receive full payroll reimbursement for employee services provided to Centurion Counsel and Puppy Toes, Inc. during the three six June 30, 2024 three six June 30, 2023 not June 30, 2024 December 31, 2023 July 2024 January 2024,

Note 16 - Subsequent Events

Note 16 - Subsequent Events	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	16. 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 The loan on the Dakota Center matured on July 6, 2024. August 12, 2024, not August.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]		5. None
Rule 10b5-1 Arrangement Terminated [Flag]	false
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation. 10 8 X. June 30, 2024 December 31, 2023 three six June 30, 2024 2023 not may December 31, 2024 2024 December 31, 2023 2024
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 2024 2023 ncluded the accumulated amount of noncontrolling interests as part of equity since inception in February 2010. consolidated statements of operations. Management has evaluated the noncontrolling interests and determined that they do 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 ov 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 $1,244 and $2,487 in each period for the three six June 30, 2024 three six June 30, 2023 The value of in-place leases and unamortized lease origination costs a re amortized to expenses over the remaining term of the respe ctive leases, which range fro m less than a year to ten The amount allocated to unamortized lease origination costs is determined by what the Company would have paid to a third $4,382 and $8,763 during each period for the three six June 30, 2024 and for the three six June 30, 2023 .
Deferred Leasing Costs [Policy Text Block]	Deferred Leasing Costs. Costs incurred in connection with successful 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 June 30, 2024 and December 31, 2023 , the Company had net deferred leasing costs of approxima tely $1.6 million and $1.7 million, respectively. Total amortization expense for the three six June 30, 2024 three six June 30, 2023 , was approximately $122,330
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash Equivalents and Restricted Cash. June 30, 2024 December 31, 2023 three may $250,000 No June 30, 2024 December 31, 2023
Real Estate Held for Development and Sale, Policy [Policy Text Block]	Real Estate Held for Sale and Discontinued Operations. one not June 30, 2024 no five
Deferred Charges, Policy [Policy Text Block]	Deferred Offering Costs. June 30, 2024 and December 31, 2023 zero the end of each period related to our registration statement on Form S- 3.
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 may We review the carrying value of each of our real estate properties regularly to determine if circumstances indicate an impairment in the carrying value of these investments exists. During the three six June 30, 2024 three six June 30, 2023 not The new impairment charges for the model homes, during the three June 30, 2024 July August 2024 two 2022. not 3 Recent Real Estate Transactions six June 30, 2024 not three six June 30, 2023
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 June 30, 2024 not December 31, 2023 third 1 no June 30, 2024 December 31, 2023 . On April 22, 2024, not one two one 321, Investments - Equity Securities 321" 815, Derivatives and Hedging 815" April 22, 2024, 3 June 30, 2024 June 30, 2024 1 2022 03, Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions June 30, 2024 June 30, 2024 1 December 31, 2023
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 June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 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 2,034,663 1,302,254 2,034,663 1,302,254 Total potentially dilutive shares 18,564,732 17,832,323 18,564,732 17,832,323
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
Immaterial Error Corrections, Policy [Policy Text Block]	Immaterial Error Corrections second 2024, 718. December 31, 2022, December 31, 2023, three March 31, 2023, June 30, 2023, March 31, 2024, On the balance sheet as of December 31, 2023, three March 31, 2023 June 30, 2023 three March 31, 2024 not
Reclassification, Comparability Adjustment [Policy Text Block]	Reclassifications not
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. December 2023, 2023 09, Income Taxes December 15, 2024 not 2023 09 November 2023, 2023 07, Segment Reporting 280. 280, not December 15, 2023 December 15, 2024 not 2023 07 In August 2023, 2023 05, "Business Combinations Joint Venture Formations (Subtopic 805 60 2023 05"}. 2023 05 not 2023 05 2023 05 January 1, 2025, not 2023 05 not In March 2024, 1o/o January 1, 2025 April 4, 2024,

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 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 2,034,663 1,302,254 2,034,663 1,302,254 Total potentially dilutive shares 18,564,732 17,832,323 18,564,732 17,832,323

Note 4 - Real Estate Assets (Ta

Note 4 - Real Estate Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Real Estate Properties [Table Text Block]	Date Real estate assets, net Property Name Acquired Location June 30, 2024 December 31, 2023 Genesis Plaza (1) August 2010 San Diego, CA $ 7,279,469 $ 7,542,725 Dakota Center May 2011 Fargo, ND 9,035,911 9,201,883 Grand Pacific Center (2) March 2014 Bismarck, ND 8,590,122 8,274,454 Arapahoe Center December 2014 Centennial, CO 9,442,896 9,341,991 Union Town Center December 2014 Colorado Springs, CO 8,981,393 8,918,742 West Fargo Industrial August 2015 Fargo, ND 6,694,012 6,819,765 300 N.P. August 2015 Fargo, ND 2,738,408 2,774,176 Research Parkway August 2015 Colorado Springs, CO 2,235,636 2,266,173 One Park Center (3) August 2015 Westminster, CO 5,598,631 5,700,000 Shea Center II (4) December 2015 Highlands Ranch, CO 19,041,747 19,367,289 Mandolin (5) August 2021 Houston, TX 4,646,418 4,692,274 Baltimore December 2021 Baltimore, MD 8,353,811 8,466,165 Presidio Property Trust, Inc. properties 92,638,454 93,365,637 Model Home properties (6) 2017 2024 AZ, FL, TX 38,253,777 50,790,147 Total real estate assets and lease intangibles, net $ 130,892,231 $ 144,155,784

Note 5 - Lease Intangibles (Tab

Note 5 - Lease Intangibles (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	June 30, 2024 December 31, 2023 Lease Intangibles Accumulated Amortization Lease Intangibles, net Lease Intangibles Accumulated Amortization Lease Intangibles, net In-place leases $ 2,515,264 $ (2,499,908 ) $ 15,356 $ 2,515,264 $ (2,495,016 ) $ 20,248 Leasing costs 1,261,390 (1,248,207 ) 13,183 1,261,390 (1,244,335 ) 17,055 Above-market leases — — — 333,485 (333,485 ) — $ 3,776,654 $ (3,748,115 ) $ 28,539 $ 4,110,139 $ (4,072,836 ) $ 37,303
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	2024 $ 8,763 2025 15,669 2026 4,107 Total $ 28,539

Note 6 - Other Assets (Tables)

Note 6 - Other Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Other Assets [Table Text Block]	June 30, December 31, 2024 2023 Deferred rent receivable $ 2,069,489 $ 1,973,887 Prepaid expenses, deposits and other 513,373 349,160 Notes receivable 316,374 316,374 Accounts receivable, net 312,015 694,869 Deferred offering costs — 5,000 Right-of-use assets, net — 15,649 Investment in marketable securities (not including Conduit) — 45,149 Total other assets $ 3,211,251 $ 3,400,088

Note 7 - Mortgage Notes Payab_2

Note 7 - Mortgage Notes Payable (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Debt [Table Text Block]	Principal as of June 30, December 31, Loan Interest Mortgage note property 2024 2023 Type Rate (1) Maturity Dakota Center (2) (6) $ 9,091,395 $ 9,197,346 Fixed 4.74 % 7/6/2024 Research Parkway (6) 1,558,105 1,588,742 Fixed 3.94 % 1/5/2025 Arapahoe Service Center (6) 7,335,510 7,426,088 Fixed 4.34 % 1/5/2025 Union Town Center (6) 7,790,979 7,870,468 Fixed 4.28 % 1/5/2025 One Park Centre 5,982,452 6,043,882 Fixed 4.77 % 9/5/2025 Genesis Plaza 5,876,284 5,937,251 Fixed 4.71 % 9/6/2025 Shea Center II (6) 16,807,761 16,951,095 Fixed 4.92 % 1/5/2026 West Fargo Industrial (3) 5,750,000 3,922,829 Fixed 7.14 % 7/6/2029 Grand Pacific Center (4) 6,341,208 5,470,305 Fixed 6.35 % 5/5/2033 Baltimore 5,670,000 5,670,000 Fixed 4.67 % 4/6/2032 Mandolin 3,541,304 3,573,201 Fixed 4.35 % 4/20/2029 Subtotal, Presidio Property Trust, Inc. Properties $ 75,744,998 $ 73,651,207 Model Home mortgage notes (5) 26,274,481 34,815,699 Fixed 2024 2029 Mortgage Notes Payable $ 102,019,479 $ 108,466,906 Unamortized loan costs (894,093 ) (753,633 ) Mortgage Notes Payable, net $ 101,125,386 $ 107,713,273
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 2024 $ 9,635,272 $ 2,898,031 $ 12,533,303 2025 28,645,113 9,525,273 38,170,386 2026 16,521,064 932,102 17,453,166 2027 157,739 465,084 622,823 2028 168,907 9,110,909 9,279,816 Thereafter 20,616,903 3,343,082 23,959,985 Total $ 75,744,998 $ 26,274,481 $ 102,019,479

Note 11 - Stockholders' Equity

Note 11 - Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Common Class A [Member]
Notes Tables
Dividends Declared [Table Text Block]	Quarter Ended 2024 2023 Distributions Declared Distributions Declared March 31 $ - $ 0.022 June 30 - 0.023 Total $ - $ 0.045 Month 2024 2023 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 Total $ 1.17186 $ 1.17186

Note 12 - Share-based Incenti_2

Note 12 - Share-based Incentive Plan (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]	Outstanding shares: Common Shares Balance at December 31, 2023 760,995 Granted 1,437,746 Vested (164,078 ) Balance at June 30, 2024 2,034,663

Note 13 - Segments (Tables)

Note 13 - Segments (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Office/Industrial Properties: Rental, fees and other income $ 2,955,272 $ 3,020,066 $ 5,922,992 $ 5,882,064 Property and related expenses (1,294,149 ) (1,202,243 ) (2,676,542 ) (2,662,932 ) Net operating income, as defined 1,661,123 1,817,823 3,246,450 3,219,132 Model Home Properties: Rental, fees and other income 1,155,416 1,022,041 2,424,369 1,877,161 Property and related expenses (142,951 ) (46,801 ) (279,728 ) (77,797 ) Net operating income, as defined 1,012,465 975,240 2,144,641 1,799,364 Retail Properties: Rental, fees and other income 475,853 480,001 1,029,241 938,868 Property and related expenses (156,640 ) (128,351 ) (296,594 ) (266,149 ) Net operating income, as defined 319,213 351,650 732,647 672,719 Reconciliation to net income: Total net operating income, as defined, for reportable segments 2,992,801 3,144,713 6,123,738 5,691,215 General and administrative expenses (2,202,916 ) (1,813,184 ) (4,287,366 ) (3,777,804 ) Depreciation and amortization (1,351,370 ) (1,368,829 ) (2,702,388 ) (2,702,403 ) Interest expense (1,525,845 ) (1,336,415 ) (3,041,051 ) (2,204,182 ) Loss on Conduit Pharmaceuticals marketable securities (10,027,433 ) — (13,888,667 ) — Other income, net 5,206 398,085 9,852 1,140,201 Income tax expense (81,021 ) (349,074 ) (160,586 ) (497,527 ) Gain on sale of real estate 811,903 1,119,952 2,829,998 1,537,289 Net loss $ (11,378,675 ) $ (204,752 ) $ (15,116,470 ) $ (813,211 )
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	June 30, December 31, Assets by Reportable Segment: 2024 2023 Office/Industrial Properties: Land, buildings and improvements, net (1) $ 76,768,551 $ 77,472,724 Total assets (2) $ 77,076,636 $ 78,140,372 Model Home Properties: Land, buildings and improvements, net (1) $ 38,253,777 $ 50,790,147 Total assets (2) $ 39,538,041 $ 51,456,292 Retail Properties: Land, buildings and improvements, net (1) $ 15,863,447 $ 15,877,190 Total assets (2) $ 16,541,354 $ 16,539,399 Reconciliation to Total Assets: Total assets for reportable segments $ 133,156,031 $ 146,136,063 Other unallocated assets: Cash, cash equivalents and restricted cash 2,469,278 277,143 Other assets, net 14,912,974 29,549,432 Total Assets $ 150,538,283 $ 175,962,638
Segment, Reconciliation of Other Items from Segments to Consolidated [Table Text Block]	For the Six Months Ended June 30, Capital Expenditures by Reportable Segment 2024 2023 Office/Industrial Properties: Capital expenditures and tenant improvements, office $ 1,010,815 $ 905,132 Model Home Properties: Acquisition of operating properties, model home 5,740,918 12,932,128 Retail Properties: Capital expenditures and tenant improvements, retail 203,121 96,704 Totals: Acquisition of operating properties, net 5,740,918 12,932,128 Capital expenditures and tenant improvements 1,213,936 1,001,836 Total real estate investments $ 6,954,854 $ 13,933,964

Note 1 - Organization (Details

Note 1 - Organization (Details Textual)				3 Months Ended	6 Months Ended
	Sep. 30, 2023 shares	Sep. 22, 2023 shares	Jul. 12, 2021 shares	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Apr. 22, 2024 shares	Sep. 21, 2023
Number of Limited Liability Companies				2	2
Number of Limited Partnerships in which Company is Sole General Partner				5
Long-Term Debt, Maturity, Year One | $				$ 38,170,386	$ 38,170,386
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	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				540,000
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%		6.30%	6.30%
Mortgage Notes [Member]
Long-Term Debt, Maturity, Year One | $				$ 12,500,000	$ 12,500,000
Model Home Properties [Member]
Number of Limited Partnerships in which Company is Sole General Partner					6
Commercial Property [Member]
Number of Real Estate Properties, Fee Simple				12	12
Commercial Property [Member] | Partially Owned Properties [Member]
Number of Real Estate Properties, Fee Simple				2	2
Model Home Properties [Member] | Mortgage Notes [Member]
Long-Term Debt, Maturity, Year One | $				$ 2,900,000	$ 2,900,000

Note 2 - Significant Accounti_3

Note 2 - Significant Accounting Policies (Details Textual)		3 Months Ended				6 Months Ended
	Apr. 22, 2024 USD ($) $ / shares shares	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Sep. 22, 2023 shares
Amortization of above and below Market Leases		$ 1,244		$ 2,487
Deferred Costs		1,600,000				$ 1,600,000		$ 1,700,000
Operating Lease, Initial Direct Cost Expense, over Term		119,278		122,330		244,099	$ 228,151
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents		8,534,881				8,534,881		6,510,428
Restricted Cash		3,200,000				3,200,000		3,700,000
Cash, Uninsured Amount		3,200,000				3,200,000		700,000
Unamortized Deferred Stock Costs		0				0		5,000
Impairment of Real Estate		101,245		0		196,793	$ 0
Proceeds from Sale of Real Estate						20,100,000
Gain (Loss) on Sale of Properties						2,800,000
Marketable Securities		0				0		45,149
Marketable Securities, Cost Basis								40,315
Equity Securities, FV-NI		4,413,989				4,413,989		18,318,521
Accounts Payable and Accrued Liabilities		3,501,779				3,501,779		4,770,845
Revision of Prior Period, Error Correction, Adjustment [Member]
Accounts Payable and Accrued Liabilities								(21,189)
Additional Paid in Capital								21,189
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition			$ 317,077	$ 228,657	$ 232,106
Conduit Pharmaceuticals Inc [Member] | Private Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares	540,000								754,000
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares	$ 3.12
Warrants and Rights Outstanding, Term (Year)	2 years
Warrant or Right, Exercisable Period (Year)	1 year
Warrants and Rights Outstanding	$ 891,000	156,600				156,600
Conduit Pharmaceuticals Inc [Member]
Lock-up Agreement, Shares (in shares) | shares	2,700,000
Investment Owned, Balance, Shares (in shares) | shares	4,015,250
Equity Securities, FV-NI		4,300,000				4,300,000		18,300,000
Investment Owned, Fair Value		$ 4,400,000				$ 4,400,000
Fair Value, Inputs, Level 1 [Member]
Marketable Securities								$ 45,149
Discontinued Operations, Disposed of by Sale [Member]
Number of Real Estate Properties		42		10		42	10
Proceeds from Sale of Real Estate						$ 20,100,000	$ 4,600,000
Gain (Loss) on Sale of Properties						2,800,000	1,500,000
Finite-lived Intangibles, Other Than Lease Intangibles [Member]
Amortization of Intangible Assets		$ 4,382		$ 8,763		$ 4,382	$ 8,763
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%

Note 2 - Significant Accounti_4

Note 2 - Significant Accounting Policies - Antidilutive Securities (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Antidilutive securities (in shares)	18,564,732	17,832,323	18,564,732	17,832,323
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)	2,034,663	1,302,254	2,034,663	1,302,254

Note 3 - Recent Real Estate T_2

Note 3 - Recent Real Estate Transactions (Details Textual) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)
Proceeds from Sale of Real Estate	$ 20.1
Gain (Loss) on Sale of Properties	$ 2.8
Discontinued Operations, Disposed of by Sale [Member]
Number of Real Estate Properties	42	10
Proceeds from Sale of Real Estate	$ 20.1	$ 4.6
Gain (Loss) on Sale of Properties	$ 2.8	$ 1.5
Model Home [Member]
Number of Real Estate Properties	12	23
Real Estate Property, Consideration Transferred, Total	$ 5.7	$ 12.9
Payments to Acquire Residential Real Estate	1.7	3.9
Model Home [Member] | Mortgage Notes [Member]
Notes Payable	$ 4	$ 9

Note 4 - Real Estate Assets (De

Note 4 - Real Estate Assets (Details Textual)			3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2022 USD ($) ft²	Dec. 07, 2022 USD ($) ft²	Jun. 30, 2024 USD ($) a ft²	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) a ft²	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	May 05, 2023 ft²
Number of States Real Estate Property is Located			3		3
Number of Limited Partnerships in which Company is Sole General Partner			5
Number of Limited Liability Companies			2		2
Impairment of Real Estate			$ 101,245	$ 0	$ 196,793	$ 0
Restricted Cash			$ 3,200,000		$ 3,200,000		$ 3,700,000
NetREIT Palm Self-Storage LP [Member]
Subsidiary, Ownership Percentage, Parent			61.30%		61.30%
Office/Industrial Properties [Member]
Area of Real Estate Property (Acre) | a			758,175		758,175
Retail Properties [Member]
Area of Real Estate Property (Acre) | ft²			65,242		65,242
Model Home [Member]
Number of Real Estate Properties			80		80
Area of Real Estate Property (Acre) | a			241,309		241,309
Number of Limited Partnerships in which Company is Sole General Partner					5
Number of Limited Liability Companies			1		1
Office Buildings [Member] | Office/Industrial Properties [Member]
Number of Real Estate Properties			8		8
Office Building [Member] | Office/Industrial Properties [Member]
Number of Real Estate Properties			1		1
Retail Site [Member] | Retail Properties [Member]
Number of Real Estate Properties			3		3
Genesis Plaza [Member] | Tenant-in-common One [Member]
Percentage Ownership in Property			57%		57%
Genesis Plaza [Member] | Tenant-in-common Two [Member]
Percentage Ownership in Property			43%		43%
Percentage Beneficial Ownership in Property			76.40%		76.40%
Grand Pacific Center [Member]
Area of Real Estate Property (Acre) | ft²		33,296						33,296
Sale Leaseback Transaction, Annual Rental Payments		$ 532,736
One Park Centre [Member]
Impairment of Real Estate							$ 2,000,000
Shea Center II [Member]
Area of Real Estate Property (Acre) | ft²	45,535
Real Estate Property, Current Base Annual Rent	$ 536,080
Restricted Cash	$ 1,100,000
COLOMBIA
Number of Real Estate Properties			5		5
NORTH DAKOTA
Number of Real Estate Properties			4		4
CALIFORNIA
Number of Real Estate Properties			1		1
TEXAS
Number of Real Estate Properties			1		1
MARYLAND
Number of Real Estate Properties			1		1

Note 4 - Real Estate Assets - S

Note 4 - Real Estate Assets - Summary of Properties Owned (Details) - USD ($)		6 Months Ended
		Jun. 30, 2024	Dec. 31, 2023
Real estate assets owned		$ 130,892,231	$ 144,155,784
Genesis Plaza [Member]
Geographic location	[1]	San Diego, CA
Real estate assets owned	[1]	$ 7,279,469	7,542,725
Dakota Center [Member]
Geographic location		Fargo, ND
Real estate assets owned		$ 9,035,911	9,201,883
Grand Pacific Center [Member]
Geographic location	[2]	Bismarck, ND
Real estate assets owned	[2]	$ 8,590,122	8,274,454
Arapahoe Center [Member]
Geographic location		Centennial, CO
Real estate assets owned		$ 9,442,896	9,341,991
Union Town Center [Member]
Geographic location		Colorado Springs, CO
Real estate assets owned		$ 8,981,393	8,918,742
West Fargo Industrial [Member]
Geographic location		Fargo, ND
Real estate assets owned		$ 6,694,012	6,819,765
The 300 N.P [Member]
Geographic location		Fargo, ND
Real estate assets owned		$ 2,738,408	2,774,176
Research Parkway [Member]
Geographic location		Colorado Springs, CO
Real estate assets owned		$ 2,235,636	2,266,173
One Park Centre [Member]
Geographic location	[3]	Westminster, CO
Real estate assets owned	[3]	$ 5,598,631	5,700,000
Shea Center II [Member]
Geographic location	[4]	Highlands Ranch, CO
Real estate assets owned	[4]	$ 19,041,747	19,367,289
Mandolin [Member]
Geographic location	[5]	Houston, TX
Real estate assets owned	[5]	$ 4,646,418	4,692,274
Baltimore [Member]
Geographic location		Baltimore, MD
Real estate assets owned		$ 8,353,811	8,466,165
Presidio Property Trust, Inc. Properties [Member]
Real estate assets owned		$ 92,638,454	93,365,637
Model Home Properties [Member]
Geographic location	[6]	AZ, FL, TX
Real estate assets owned	[6]	$ 38,253,777	$ 50,790,147
[1]Genesis Plaza is owned by two tenants-in-common, each of which own 57% and 43%, respectively, and we beneficially own an aggregate of 76.4%, based on our ownership percentages of each tenant-in-common.[2]Grand Pacific Center, Bismarck, ND, was removed from held-for-sale after signing a major lease with KLJ Engineering on December 7, 2022 for approximately 33,296 usable square feet, a term of 122 months, and starting annualized rent of $532,736. KLJ Engineering moved into the building during December 2023, with rent commencing on February 28, 2024.[3]During the year ended December 31, 2023, we recorded a $2.0 million impairment charge for One Park Center that reflects management’s revised estimate of the fair market value based on sales comparable of like properties in the same geographical area as well as an evaluation of future cash flows or an executed purchase sale agreement.[4]On December 31, 2022, the lease for our largest tenant, Halliburton, expired. Halliburton was located in our Shea Center II property in Colorado, and made up approximately $536,080 of our annual base rent. Halliburton did not renew the lease and we placed approximately $1.1 million in a reserve account with our lender to cover future mortgage payments, if necessary, none of which has been used as of December 31, 2023. Our management team is working to fill the 45,535 square foot space and has leased approximately 20% of the space to a tenant during 2023 and has reviewed various proposals for the remaining 80%. As of June 30, 2024, management is pursuing a third party tenant who fits into our long-term plans, however, there is no guarantee we will be successful in signing this new tenant.[5]A portion of the proceeds from the sale of Highland Court were used in like-kind exchange transactions pursued under Section 1031 of the Code for the acquisition of our Mandolin property. 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.[6]Includes Model Homes listed as held for sale as of June 30, 2024 and December 31, 2023. During the six months ended June 30, 2024, we recorded a $0.2 million impairment charge for model homes, which reflects the estimated sales prices for these specific model homes after the closing of each quarter in 2024. The short hold period, less than two years, and the builder changing their model style after we purchased the homes, contributed to the lower than expected sales price.

Note 5 - Lease Intangibles (Det

Note 5 - Lease Intangibles (Details Textual) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets, Gross, Total	$ 3,776,654	$ 4,110,139
Below Market Lease, Net	10,779	13,266
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 ($)	Jun. 30, 2024	Dec. 31, 2023
Lease intangibles, gross	$ 3,776,654	$ 4,110,139
Accumulated Amortization	(3,748,115)	(4,072,836)
Lease Intangibles, net	28,539	37,303
Leases, Acquired-in-Place [Member]
Lease intangibles, gross	2,515,264	2,515,264
Accumulated Amortization	(2,499,908)	(2,495,016)
Lease Intangibles, net	15,356	20,248
Leasing Costs [Member]
Lease intangibles, gross	1,261,390	1,261,390
Accumulated Amortization	(1,248,207)	(1,244,335)
Lease Intangibles, net	13,183	17,055
Above Market Lease [Member]
Lease intangibles, gross	0	333,485
Accumulated Amortization	0	(333,485)
Lease Intangibles, net	$ 0	$ 0

Note 5 - Lease Intangibles - Am

Note 5 - Lease Intangibles - Amortization Expense (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
2024	$ 8,763
2025	15,669
2026	4,107
Total	$ 28,539	$ 37,303

Note 6 - Other Assets (Details

Note 6 - Other Assets (Details Textual)	Dec. 31, 2023 USD ($)
Number of Publicly Traded REITs in which Common Shares are Owned	3
Number of Publicly Traded REITs in which Options are Owned	0
Investments, Fair Value Disclosure	$ 45,149
Marketable Securities, Real Estate Investment Trust [Member] | Covered Call Option Contract [Member]
Derivative, Fair Value, Net	$ 0

Note 6 - Other Assets - Other A

Note 6 - Other Assets - Other Assets (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Deferred rent receivable	$ 2,069,489	$ 1,973,887
Prepaid expenses, deposits and other	513,373	349,160
Notes receivable	316,374	316,374
Accounts receivable, net	312,015	694,869
Deferred offering costs	0	5,000
Right-of-use assets, net	0	15,649
Investment in marketable securities (not including Conduit)	0	45,149
Total other assets	$ 3,211,251	$ 3,400,088

Note 7 - Mortgage Notes Payab_3

Note 7 - Mortgage Notes Payable (Details Textual) $ in Thousands	Jun. 20, 2024 USD ($)	May 05, 2023 USD ($) ft²	Jun. 30, 2024 USD ($)	Dec. 07, 2022 ft²
Grand Pacific Center [Member]
Area of Real Estate Property (Acre) | ft²		33,296		33,296
Model Home [Member]
Number of Real Estate Properties Held for Sale			5
Mortgage Loan on West Fargo Industrial Properties [Member]
Debt Instrument, Face Amount	$ 5,750
Debt Instrument, Term (Year)	5 years
Debt Instrument, Interest Rate, Stated Percentage	7.14%
Debt Instrument, Quarterly Debt Service Coverage Ratio	1.2
Refinanced Loan [Member]
Debt Instrument, Face Amount		$ 3,800
Debt Instrument, Term (Year)		10 years
Debt Instrument, Interest Rate, Stated Percentage		6.35%
Construction Loan [Member]
Debt Instrument, Face Amount		$ 2,700
Debt Instrument, Term (Year)		10 years
Debt Instrument, Interest Rate, Stated Percentage		6.35%
Loans Payable			$ 2,600
Mortgage Notes [Member] | Model Home [Member]
Debt Instrument, Covenant, Minimum Fixed Charge Coverage Ratio			1.1
Mortgage Notes [Member] | Model Home [Member] | Minimum [Member]
Debt Instrument, Interest Rate, Stated Percentage			4.51%
Mortgage Notes [Member] | Model Home [Member] | Maximum [Member]
Debt Instrument, Interest Rate, Stated Percentage			8%

Note 7 - Mortgage Notes Payab_4

Note 7 - Mortgage Notes Payable - Mortgage Notes Payable (Details) - USD ($)		Jun. 30, 2024	Dec. 31, 2023
Mortgage Notes Payable, net		$ 101,125,386	$ 107,713,273
Mortgage Notes [Member]
Mortgage Notes Payable		102,019,479	108,466,906
Unamortized loan costs		(894,093)	(753,633)
Mortgage Notes [Member] | Dakota Center [Member]
Mortgage Notes Payable	[1],[2]	$ 9,091,395	9,197,346
Interest rate	[1],[2],[3]	4.74%
Mortgage Notes [Member] | Research Parkway [Member]
Mortgage Notes Payable	[2]	$ 1,558,105	1,588,742
Interest rate	[2],[3]	3.94%
Mortgage Notes [Member] | Arapahoe Center [Member]
Mortgage Notes Payable	[2]	$ 7,335,510	7,426,088
Interest rate	[2],[3]	4.34%
Mortgage Notes [Member] | Union Town Center [Member]
Mortgage Notes Payable	[2]	$ 7,790,979	7,870,468
Interest rate	[2],[3]	4.28%
Mortgage Notes [Member] | One Park Centre [Member]
Mortgage Notes Payable		$ 5,982,452	6,043,882
Interest rate	[3]	4.77%
Mortgage Notes [Member] | Genesis Plaza [Member]
Mortgage Notes Payable		$ 5,876,284	5,937,251
Interest rate	[3]	4.71%
Mortgage Notes [Member] | Shea Center II [Member]
Mortgage Notes Payable	[2]	$ 16,807,761	16,951,095
Interest rate	[2],[3]	4.92%
Mortgage Notes [Member] | West Fargo Industrial [Member]
Mortgage Notes Payable	[4]	$ 5,750,000	3,922,829
Interest rate	[3],[4]	7.14%
Mortgage Notes [Member] | Grand Pacific Center [Member]
Mortgage Notes Payable	[5]	$ 6,341,208	5,470,305
Interest rate	[3],[5]	6.35%
Mortgage Notes [Member] | Baltimore [Member]
Mortgage Notes Payable		$ 5,670,000	5,670,000
Interest rate	[3]	4.67%
Mortgage Notes [Member] | Mandolin [Member]
Mortgage Notes Payable		$ 3,541,304	3,573,201
Interest rate	[3]	4.35%
Mortgage Notes [Member] | Subtotal, Presidio Property Trust, Inc. Properties [Member]
Mortgage Notes Payable		$ 75,744,998	73,651,207
Mortgage Notes [Member] | Model Home [Member]
Mortgage Notes Payable	[6]	$ 26,274,481	$ 34,815,699
[1]The loan on the Dakota Center matured on July 6, 2024. Management has been in negotiations with the special servicer of the loan in modifying and/or extending the loan or possibly selling the building. As of August 12, 2024, the Company and the lender have not yet agreed to the final outcome. The lender is expected to visit the property at the end of August.[2]These mortgage loans mature within the next twelve months and management is reviewing various options for the loan maturity, including but not limited to refinancing, restructuring and or selling these properties. As we get closer to the loan maturity date, the Company will finalize our plans.[3]Interest rates as of June 30, 2024.[4]On June 20, 2024, the Company, through its subsidiary, refinanced the mortgage loan on our West Fargo Industrial properties, and entered into a loan agreement for approximately $5.75 million, a term of five years, with an interest rate of 7.14%. The loan agreement has a Debt Service Coverage Ratio ("DSCR") minimum of 1.20 to 1.00 as calculated by Lender, in which: (a) the numerator is the Underwritten Net Cash Flow, and (b) the denominator is the annual Debt Service, tested at the end of each fiscal quarter.[5]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 June 30, 2024, we had drawn down approximately $2.6 million on the construction loan.[6]As of June 30, 2024, there were five model homes included as real estate assets held for sale. Our model homes have stand-alone mortgage notes at interest rates ranging from 4.51% to 8.0% per annum as of June 30, 2024.

Note 7 - Mortgage Notes Payab_5

Note 7 - Mortgage Notes Payable - Scheduled Principal Payments of Mortgage Notes Payable (Details)	Jun. 30, 2024 USD ($)
2024	$ 12,533,303
2025	38,170,386
2026	17,453,166
2027	622,823
2028	9,279,816
Thereafter	23,959,985
Total	102,019,479
Presidio Property Trust, Inc Notes Payable [Member]
2024	9,635,272
2025	28,645,113
2026	16,521,064
2027	157,739
2028	168,907
Thereafter	20,616,903
Total	75,744,998
Model Home Properies Notes Payable [Member]
2024	2,898,031
2025	9,525,273
2026	932,102
2027	465,084
2028	9,110,909
Thereafter	3,343,082
Total	$ 26,274,481

Note 8 - Notes Payable (Details

Note 8 - Notes Payable (Details Textual) - USD ($)	Aug. 17, 2020	Apr. 22, 2020	Jun. 30, 2024
Promissory Note for Refinancing One Model Home [Member] | Majority Owned Subsidiary Dubose Model Home Investors 202 LP and 204 LP [Member]
Debt Instrument, Face Amount			$ 300,000
Debt Instrument, Interest Rate, Stated Percentage			5.55%
Economic Injury Disaster Loan [Member]
Proceeds from Issuance of Unsecured Debt	$ 150,000	$ 10,000

Note 9 - Investment in Condui_2

Note 9 - Investment in Conduit Pharmaceuticals (Details Textual) - USD ($)

1 Months Ended

3 Months Ended

6 Months Ended

Apr. 22, 2024

Sep. 30, 2023

Sep. 22, 2023

Jan. 26, 2023

Feb. 07, 2022

Jan. 07, 2022

Jul. 12, 2021

Feb. 28, 2023

Dec. 31, 2023

Jun. 30, 2024

Jun. 30, 2023

Sep. 21, 2023

May 11, 2023

Mar. 01, 2023

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

Investment Income, Net

$ 664,232

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, 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

45,000

Conduit Pharmaceuticals Inc [Member] | Private Warrants [Member]

Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)

540,000

754,000

Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)

$ 3.12

Warrants and Rights Outstanding, Term (Year)

2 years

Warrant or Right, Exercisable Period (Year)

1 year

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

Common Class A [Member]

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

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

Conduit Pharmaceuticals Inc [Member]

Investment Owned, Fair Value

4,400,000

Investment Owned, Cost

$ 7,500,000

Lock-up Agreement, Shares (in shares)

2,700,000

Investment Owned, Balance, Shares (in shares)

4,015,250

Conduit Pharmaceuticals Inc [Member] | Common Stock [Member]

Investment Owned, Fair Value Per Share (in dollars per share)

$ 1.06

Conduit Pharmaceuticals Inc [Member] | Warrant [Member]

Investment Owned, Fair Value Per Share (in dollars per share)

0.039

Conduit Pharmaceuticals Inc [Member] | Private Warrants [Member]

Investment Owned, Fair Value Per Share (in dollars per share)

$ 0.29

The “Merger Consideration” [Member]

Stock Redeemed or Called During Period, Shares (in shares)

11,037,272

Special Purpose Acquisition Company (SPAC) [Member]

Subsidiary, Ownership Percentage, Parent

65%

Conduit Pharmaceuticals Inc [Member]

Investment Owned, Net Assets, Percentage

6.50%

6.50%

6.30%

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 - Commitments and Con_2

Note 10 - Commitments and Contingencies (Details Textual) $ in Millions	3 Months Ended
	Jun. 30, 2024 USD ($)
Capital Expenditures Incurred but Not yet Paid	$ 1

Note 11 - Stockholders' Equit_2

Note 11 - Stockholders' Equity (Details Textual)						3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 24, 2024 USD ($) $ / shares shares	Jul. 12, 2021 $ / shares shares	Jun. 17, 2021 USD ($) shares	Jun. 17, 2021 USD ($) shares	Jun. 15, 2021 USD ($) $ / shares shares	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2023 USD ($) $ / shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 01, 2023 USD ($)	Sep. 15, 2022 USD ($)	Aug. 31, 2021 $ / shares shares
Preferred Stock, Shares Authorized (in shares)						1,000,000		1,000,000
Proceeds from Issuance of Preferred Stock and Preference Stock | $								$ 1,195,855	$ 0
Maximum Individual Common Stock Ownership, Percentage						9.80%		9.80%
Number of Limited Partnerships in which Company is Sole General Partner						5
Commercial Property [Member]
Number of Real Estate Properties						12		12
Commercial Property [Member] | Partially Owned Properties [Member]
Number of Real Estate Properties						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
Underwritten Public Offering [Member] | The Benchmark Company, LLC [Member]
Stock Issued During Period, Shares, New Issues (in shares)	109,054
Shares Issued, Price Per Share (in dollars per share) | $ / shares	$ 16
Equity Offering, Underwriting Discount, Percentage	7%
Stock Issued During Period, Value, New Issues | $	$ 1,740,000
Series D Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)						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
Stock Issued During Period, Value, New Issues | $						$ 1,195,855
Preferred Stock, Dividend Rate, Percentage								9.375%
Preferred Stock, Liquidation Preference Per Share (in dollars per share) | $ / shares						$ 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
Preferred Stock, Percentage of Outstanding Shares Required to Authorize Senior Ranking Stock						66.67%		66.67%
Preferred Stock, Redemption Price Per Share (in dollars per share) | $ / shares						$ 25		$ 25
Preferred Stock, Dividends Per Share, Declared (in dollars per share) | $ / shares								$ 1.17186	$ 1.17186
Payments of Dividends | $						$ 500,000	$ 500,000	$ 1,100,000	$ 1,100,000
Stock Repurchase Program, Authorized Amount | $											$ 4,000,000	$ 4,000,000
Stock Repurchased During Period, Shares (in shares)								10,446		23,041
Stock Repurchased, Average Cost Per Share (in dollars per share) | $ / shares								$ 0.73		$ 16.06
Stock Repurchased, Commission Per Share (in dollars per share) | $ / shares										$ 0.035
Stock Repurchased During Period, Value | $								$ 7,613		$ 400,000
Series D Preferred Stock [Member] | O 2024 H2 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
Common Stock, Shares Authorized (in shares)						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
Common Stock, Shares, Issued (in shares)						12,418,693		12,418,693		12,265,061
Stock Repurchase Program, Authorized Amount | $											$ 6,000,000	$ 6,000,000
Common Class B [Member]
Common Stock, Shares Authorized (in shares)						1,000		1,000
Common Stock, Shares, Issued (in shares)						0		0
Common Class C [Member]
Common Stock, Shares Authorized (in shares)						9,000,000		9,000,000
Common Stock, Number of Entitled Votes						1		1
Series A Common Stock [Member]
Payments of Dividends | $						$ 0	$ 300,000	$ 0	$ 600,000

Note 11 - Stockholders' Equit_3

Note 11 - Stockholders' Equity - Dividends Declared (Details) - $ / shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Common Class A [Member]
Cash Dividend Declared (in dollars per share)	$ 0	$ 0.045
Common Class A [Member] | O 2024 Q1 Dividends [Member]
Cash Dividend Declared (in dollars per share)	0
Common Class A [Member] | O 2023 Q1 Dividends [Member]
Cash Dividend Declared (in dollars per share)		0.022
Common Class A [Member] | O 2024 Q2 Dividends [Member]
Cash Dividend Declared (in dollars per share)	0
Common Class A [Member] | O 2023 Q2 Dividends [Member]
Cash Dividend Declared (in dollars per share)		0.023
Series D Preferred Stock [Member]
Distributions Declared (in dollars per share)	1.17186	1.17186
Series D Preferred Stock [Member] | O 2024 M1 Dividends [Member]
Distributions Declared (in dollars per share)	0.19531
Series D Preferred Stock [Member] | O 2023 M1 Dividends [Member]
Distributions Declared (in dollars per share)		0.19531
Series D Preferred Stock [Member] | O 2024 M2 Dividends [Member]
Distributions Declared (in dollars per share)	0.19531
Series D Preferred Stock [Member] | O 2023 M2 Dividends [Member]
Distributions Declared (in dollars per share)		0.19531
Series D Preferred Stock [Member] | O 2024 M3 Dividends [Member]
Distributions Declared (in dollars per share)	0.19531
Series D Preferred Stock [Member] | O 2023 M3 Dividends [Member]
Distributions Declared (in dollars per share)		0.19531
Series D Preferred Stock [Member] | O 2024 M4 Dividends [Member]
Distributions Declared (in dollars per share)	0.19531
Series D Preferred Stock [Member] | O 2023 M4 Dividends [Member]
Distributions Declared (in dollars per share)		0.19531
Series D Preferred Stock [Member] | O 2024 M5 Dividends [Member]
Distributions Declared (in dollars per share)	0.19531
Series D Preferred Stock [Member] | O 2023 M5 Dividends [Member]
Distributions Declared (in dollars per share)		0.19531
Series D Preferred Stock [Member] | O 2024 M6 Dividends [Member]
Distributions Declared (in dollars per share)	$ 0.19531
Series D Preferred Stock [Member] | O 2023 M6 Dividends [Member]
Distributions Declared (in dollars per share)		$ 0.19531

Note 12 - Share-based Incenti_3

Note 12 - Share-based Incentive Plan (Details Textual) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 01, 2023	May 26, 2022	Dec. 31, 2017	Dec. 31, 2006
Share-Based Payment Arrangement, Expense	$ 0.3	$ 0.3	$ 0.9	$ 0.5
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 1.9		$ 1.9
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	1,100,000
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)	4 years

Note 12 - Share-based Incenti_4

Note 12 - Share-based Incentive Plan - Summary of Activity for Restricted Stock (Details) - Restricted Stock [Member]	3 Months Ended
	Jun. 30, 2024 shares
Balance (in shares)	760,995
Granted (in shares)	1,437,746
Vested (in shares)	(164,078)
Balance (in shares)	2,034,663

Note 13 - Segments (Details Tex

Note 13 - Segments (Details Textual)	3 Months Ended
	Jun. 30, 2024
Number of Reportable Segments	3

Note 13 - Segments - Operating

Note 13 - Segments - Operating Income by Segment (Details) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Rental, fees and other income	$ 4,586,541		$ 4,543,872		$ 9,376,603	$ 8,665,364
Property and related expenses	(1,492,495)		(1,399,159)		(3,056,072)	(2,974,149)
General and administrative expenses	(2,202,916)		(1,813,184)		(4,287,366)	(3,777,804)
Depreciation and amortization	(1,351,370)		(1,368,829)		(2,702,388)	(2,702,403)
Interest expense	(1,525,845)		(1,336,415)		(3,041,051)	(2,204,182)
Loss on Conduit Pharmaceuticals marketable securities	(10,027,433)		0		(13,888,667)	0
Other income, net	5,206		398,085		9,852	1,140,201
Income tax expense	(81,021)		(349,074)		(160,586)	(497,527)
Gain on sale of real estate	811,903		1,119,952		2,829,998	1,537,289
Net loss	(11,378,675)	$ (3,737,795)	(204,752)	$ (608,459)	(15,116,470)	(813,211)
Operating Segments [Member]
Net operating income, as defined	2,992,801		3,144,713		6,123,738	5,691,215
Office/Industrial Properties [Member] | Operating Segments [Member]
Rental, fees and other income	2,955,272		3,020,066		5,922,992	5,882,064
Property and related expenses	(1,294,149)		(1,202,243)		(2,676,542)	(2,662,932)
Net operating income, as defined	1,661,123		1,817,823		3,246,450	3,219,132
Model Home Properties [Member] | Operating Segments [Member]
Rental, fees and other income	1,155,416		1,022,041		2,424,369	1,877,161
Property and related expenses	(142,951)		(46,801)		(279,728)	(77,797)
Net operating income, as defined	1,012,465		975,240		2,144,641	1,799,364
Retail Properties [Member] | Operating Segments [Member]
Rental, fees and other income	475,853		480,001		1,029,241	938,868
Property and related expenses	(156,640)		(128,351)		(296,594)	(266,149)
Net operating income, as defined	$ 319,213		$ 351,650		$ 732,647	$ 672,719

Note 13 - Segments - Assets by

Note 13 - Segments - Assets by Reportable Segment (Details) - USD ($)		Jun. 30, 2024	Dec. 31, 2023
Total assets		$ 150,538,283	$ 175,962,638
Cash, cash equivalents and restricted cash		8,534,881	6,510,428
Other assets, net		19,646,052	31,806,854
Operating Segments [Member]
Total assets		133,156,031	146,136,063
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment [Member]
Total assets		150,538,283	175,962,638
Cash, cash equivalents and restricted cash		2,469,278	277,143
Other assets, net		14,912,974	29,549,432
Office/Industrial Properties [Member] | Operating Segments [Member]
Land, buildings and improvements, net	[1]	76,768,551	77,472,724
Total assets	[2]	77,076,636	78,140,372
Model Home Properties [Member] | Operating Segments [Member]
Land, buildings and improvements, net	[1]	38,253,777	50,790,147
Total assets	[2]	39,538,041	51,456,292
Retail Properties [Member] | Operating Segments [Member]
Land, buildings and improvements, net	[1]	15,863,447	15,877,190
Total assets	[2]	$ 16,541,354	$ 16,539,399
[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 13 - Segments - Capital Ex

Note 13 - Segments - Capital Expenditures by Reportable Segment (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Capital expenditures and tenant improvements, office	$ 1,213,936	$ 1,001,836
Acquisition of operating properties, model home	5,740,918	12,932,128
Total real estate investments	6,954,854	13,933,964
Operating Segments [Member]
Capital expenditures and tenant improvements, office	1,213,936	1,001,836
Acquisition of operating properties, model home	5,740,918	12,932,128
Office/Industrial Properties [Member]
Capital expenditures and tenant improvements, office	1,010,815	905,132
Model Home Properties [Member]
Acquisition of operating properties, model home	5,740,918	12,932,128
Retail Properties [Member]
Capital expenditures and tenant improvements, office	$ 203,121	$ 96,704

Note 14 - Income Tax Provision

Note 14 - Income Tax Provision (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Income Tax Expense (Benefit)	$ 81,021	$ 349,074	$ 160,586	$ 497,527
REIT Subsidiaries [Member]
Income Tax Expense (Benefit)			160,586	$ 497,527
TRS Entities [Member]
Deferred Tax Assets, Net of Valuation Allowance	$ 346,762		$ 346,762		$ 346,762

Note 15 - Related Party (Detail

Note 15 - Related Party (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Accounts Receivable, after Allowance for Credit Loss	$ 312,015		$ 312,015		$ 694,869
Subsidiaries [Member] | Sublease of Corporate Headquarters [Member]
Sublease Income	2,688	$ 2,688	5,376	$ 5,376
Subsidiaries [Member] | Payroll Reimbursement [Member]
Related Party Transaction, Amounts of Transaction	39,799	$ 37,045	75,715	$ 77,349
Accounts Receivable, after Allowance for Credit Loss	$ 39,799		$ 39,799		$ 52,879