Presidio Property Trust (SQFT) 10-Q 12 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 12, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	NETREIT, INC.
Entity Central Index Key	1,080,657
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock Shares Outstanding		17,268,323
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,016
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Real estate assets and lease intangibles:
Land	$ 50,613,432	$ 49,965,418
Buildings and improvements	183,376,708	177,360,584
Tenant improvements	20,209,844	19,876,549
Lease intangibles	13,845,100	13,845,100
Real estate assets and lease intangibles, cost	268,045,084	261,047,651
Accumulated depreciation and amortization	(32,455,354)	(29,961,472)
Real estate assets and lease intangibles, net	235,589,730	231,086,179
Cash and cash equivalents	5,371,721	6,626,423
Restricted cash	6,105,171	6,759,786
Deferred leasing costs, net	1,642,783	1,483,014
Goodwill	2,423,000	2,423,000
Other assets, net	6,136,444	5,895,991
TOTAL ASSETS	257,268,849	254,274,393
Liabilities:
Mortgage notes payable, net	146,922,765	142,638,401
Accounts payable and accrued liabilities	7,285,465	7,458,761
Accrued real estate taxes	2,342,853	2,401,770
Dividends payable	1,097,453	1,063,454
Below-market leases, net	2,034,321	2,154,479
Total liabilities	$ 193,330,327	$ 189,110,736
Commitments and contingencies
Equity:
Additional paid-in capital	$ 147,340,303	$ 146,712,853
Dividends in excess of accumulated losses	(96,658,134)	(93,821,328)
Total stockholders' equity before noncontrolling interest	50,854,853	53,063,548
Noncontrolling interest	13,083,669	12,100,109
Total equity	63,938,522	65,163,657
TOTAL LIABILITIES AND EQUITY	257,268,849	254,274,393
Redeemable Convertible Preferred Stock Series B
Liabilities:
Mandatorily redeemable Series B Preferred Stock, net, $0.01 par value, $1,000 liquidating preference; shares authorized: 35,000; 35,000 shares issued and outstanding at March 31, 2016 and December 31, 2015	33,647,470	33,393,871
Common Class A [Member]
Equity:
Common stock series A, $0.01 par value, shares authorized: 100,000,000; 17,268,323 and 17,202,228 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively	$ 172,684	$ 172,023

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Redeemable Convertible Preferred Stock Series B
Preferred stock, par or stated value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock liquidation preference value (in dollars per share)	$ 1,000	$ 1,000
Preferred stock shares authorized (in shares)	35,000	35,000
Preferred stock shares issued (in shares)	35,000	35,000
Preferred stock shares outstanding (in shares)	35,000	35,000
Common Class A [Member]
Common stock, par or stated 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)	17,268,323	17,202,228
Common stock shares outstanding (in shares)	17,268,323	17,202,228

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues:
Rental income	$ 8,251,068	$ 5,343,684
Fee and other income	206,506	38,916
Total revenues	8,457,574	5,382,600
Costs and expenses:
Rental operating costs	2,473,351	1,939,589
General and administrative	1,230,411	1,088,994
Depreciation and amortization	2,659,531	1,861,546
Total costs and expenses	6,363,293	4,890,129
Other income (expense):
Interest expense-Series B preferred stock	(1,492,211)	(947,429)
Interest expense-mortgage notes	(1,896,391)	(1,432,163)
Interest and other income	21,739	14,604
Gain on sale of real estate	175,486	78,496
Income tax expense	(68,548)	(65,808)
Total other expense, net	(3,259,925)	(2,352,300)
Loss from continuing operations	(1,165,644)	(1,859,829)
Income from discontinued operations, net		30,304
Income from discontinued operations		30,304
Net loss	(1,165,644)	(1,829,525)
Less: Loss (income) attributable to noncontrolling interests	61,683	(132,513)
Net loss attributable to NetREIT, Inc. common stockholders	$ (1,103,961)	$ (1,962,038)
Basic and diluted loss per common share
Continuing operations	$ (0.07)	$ (0.11)
Loss per common share	$ (0.07)	$ (0.11)
Weighted average number of common shares outstanding - basic and diluted	17,236,961	16,895,634

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - 3 months ended Mar. 31, 2016 - USD ($)	Total	Common Stock [Member]	Additional Paid In Capital [Member]	Dividends In Excess of Accumulated Losses [Member]	Parent [Member]	Noncontrolling Interests [Member]
Beginning balance (in shares) at Dec. 31, 2015		17,202,228
Beginning balance at Dec. 31, 2015	$ 65,163,657	$ 172,023	$ 146,712,853	$ (93,821,328)	$ 53,063,548	$ 12,100,109
Net loss	(1,165,644)			(1,103,961)	(1,103,961)	(61,683)
Dividends declared/reinvested (in shares)		66,708
Dividends declared/reinvested, value	(1,098,911)	$ 667	633,267	(1,732,845)	(1,098,911)
Common stock repurchased (in shares)		(613)
Common stock repurchased, value	(5,823)	$ (6)	(5,817)		(5,823)
Contributions received from noncontrolling interests, net of distributions paid	1,045,243					1,045,243
Ending balance (in shares) at Mar. 31, 2016		17,268,323
Ending balance at Mar. 31, 2016	$ 63,938,522	$ 172,684	$ 147,340,303	$ (96,658,134)	$ 50,854,853	$ 13,083,669

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net loss	$ (1,165,644)	$ (1,829,525)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization from continuing operations	2,659,531	1,861,546
Depreciation and amortization from discontinued operations		165,646
Stock compensation	129,534	125,080
Bad debt expense	(68,613)
Gain on sales of real estate assets and partnerships, net	(175,486)	(78,496)
Amortization of financing costs	357,610	308,159
Amortization of above-market leases	46,568	59,069
Amortization of below-market leases	(120,158)	(26,048)
Changes in operating assets and liabilities:
Other assets	(192,065)	(372,043)
Accounts payable and accrued liabilities	(302,830)	128,115
Accrued real estate taxes	(58,917)	71,932
Net cash provided by operating activities	1,109,530	413,435
Cash flows from investing activities:
Real estate acquisitions	(7,399,545)	(3,756,740)
Building and tenant improvements	(749,992)	(1,166,437)
Deferred leasing costs	(280,323)	(135,674)
Proceeds received from sale of real estate assets	1,256,151	614,814
Restricted cash	654,615	(1,026,656)
Net cash used in investing activities	(6,519,094)	(5,470,693)
Cash flows from financing activities:
Proceeds from mortgage notes payable, net of issuance costs	5,112,787	8,104,031
Repayment of mortgage notes payable	(932,433)	(3,774,416)
Proceeds from issuance of common stock		49,999
Contributions received from noncontrolling interests in excess of distributions paid	1,045,243	662,192
Repurchase of common stock	(5,823)	(147,774)
Dividends paid to stockholders	(1,064,912)	(997,176)
Net cash provided by financing activities	4,154,862	3,896,856
Net decrease in cash and cash equivalents	(1,254,702)	(1,160,402)
Cash and cash equivalents - beginning of period	6,626,423	5,636,002
Cash and cash equivalents - end of period	5,371,721	4,475,600
Supplemental disclosure of cash flow information:
Interest paid Series B preferred stock	1,238,611	551,723
Interest paid-mortgage notes payable	1,752,546	1,610,764
Non-cash investing and financing activities:
Reinvestment of cash dividends	633,934	697,788
Accrual of dividends payable	$ 1,098,911	$ 1,006,534

Organization

Organization	3 Months Ended
	Mar. 31, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization	1. ORGANIZATION Organization . NetREIT (the “Company”) was incorporated in the State of California in January 1999 for the purpose of investing in real estate properties. Effective August 2010, NetREIT merged into NetREIT, Inc., a Maryland Corporation, with NetREIT, Inc. becoming the surviving Corporation. As a result of the merger, NetREIT is now incorporated in the State of Maryland. The Company qualifies and operates as a self-administered real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”), and commenced operations with capital provided by its private placement offering of its equity securities in 1999. The Company’s portfolio includes the following properties: · Eighteen office buildings and two industrial properties (“Office/Industrial Properties”) which total approximately 1,614,000 rentable square feet, · Six retail shopping centers (“Retail Properties”) which total approximately 236,000 rentable square feet, and · Eighty four Model Homes owned by four affiliated limited partnerships and one limited liability company (“Residential Properties”). The following partnership activity occurred during the periods covered by these condensed consolidated financial statements: · The Company is the sole General Partner in three limited partnerships (NetREIT Palm Self-Storage LP, NetREIT Casa Grande LP and NetREIT Garden Gateway LP), all with ownership in real estate income producing properties. The Company refers to these entities collectively, as the “NetREIT Partnerships”. · The Company is a limited partner in four partnerships that purchase and leaseback Model Homes from developers (“Dubose Model Home Investors #201, LP”, “Dubose Model Homes Investors #202, LP”, “Dubose Model Homes Investors #203, LP”and “NetREIT Dubose Model Home REIT, LP”). The Company refers to these entities collectively, as the “Model Home Partnerships”. The Company has determined that the entities described above, where it owns less than 100%, should be included in the Company’s consolidated financial statements as the Company directs their activities and believes that it controls these limited partnerships through NetREIT, the Parent Company. The Company has elected to be taxed as a REIT under Sections 856 through 860 of the Code, for federal income tax purposes. To qualify as a REIT, the Company must distribute annually at least 90% of adjusted taxable income, as defined in the Code, to its stockholders and satisfy certain other organizational and operating requirements. As a REIT, no provision is made for federal income taxes on income resulting from those sales of real estate investments which have or will be distributed to stockholders within the prescribed limits. However, taxes are provided for those gains which are not anticipated to be distributed to stockholders unless such gains are deferred pursuant to Section 1031. In addition, the Company is subject to a federal excise tax which equals 4% of the excess, if any, of 85% of the Company’s ordinary income plus 95% of the Company’s capital gain net income over cash distributions, as defined. The Company believes that it has met all of the REIT distribution and technical requirements for the three months ended March 31, 2016 and 2015. Earnings and profits that determine the taxability of distributions to stockholders differ from net income reported for financial reporting purposes due to differences in estimated useful lives and methods used to compute depreciation and the carrying value (basis) on the investments in properties for tax purposes, among other things. During the three months ended March 31, 2016 and 2015, because of net losses, all distributions paid were considered return of capital to the stockholders and therefore non-taxable. The Company has concluded that there are no significant uncertain tax positions requiring recognition in its financial statements. Neither the Company nor its subsidiaries have been assessed any significant interest or penalties for tax positions by any major tax jurisdictions.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Significant Accounting Policies	2. SIGNIFICANT ACCOUNTING POLICIES There have been no significant changes to the Company’s accounting policies since it filed its audited financial statements in its Annual Report on Form 10-K for the year ended December 31, 2015. During the three months ended March 31, 2016 we adopted guidance for reporting debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability Basis of Presentation. The accompanying condensed consolidated financial statements have been prepared by the Company's management in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial statement and the instructions to Form 10-Q and Article 10 of Regulation S-X. Certain information and footnote disclosures required for annual consolidated financial statements have been condensed or excluded pursuant to rules and regulations of the SEC. In the opinion of management, the accompanying condensed consolidated financial statements reflect all adjustments of a normal and recurring nature that are considered necessary for a fair presentation of our financial position, results of our operations, and cash flows as of and for the three months ended March 31, 2016 and 2015, respectively. However, the results of operations for the interim periods are not necessarily indicative of the results that may be expected for the year ending December 31, 2016. These condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2015. The condensed consolidated balance sheet at year ended December 31, 2015 has been derived from the audited consolidated financial statements included in the Form 10-K filed with the SEC on March 18, 2016. Principles of Consolidation. The accompanying condensed consolidated financial statements include the accounts of the Company and its direct and indirect wholly-owned subsidiaries and entities the Company controls or of which it is the primary beneficiary. All significant intercompany balances and transactions have been eliminated in consolidation. Use of Estimates. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Significant estimates include the allocation of purchase price paid for property acquisitions between land, building and intangible assets acquired including their useful lives; valuation of long-lived assets, and the allowance for doubtful accounts, which is based on an evaluation of the tenants’ ability to pay. Actual results may differ from those estimates. Comprehensive Loss. Comprehensive loss for the periods reported was comprised solely of the Company's net loss. The comprehensive loss for the three months ended March 31, 2016 and March 31, 2015 was $1.2 million and $1.8 million , respectively. There were no other changes in equity that were excluded from net loss for all periods presented. Reclassifications. Certain reclassifications have been made to the previously presented consolidated financial statements and condensed consolidated financial statements to conform to the current period presentation. These reclassifications had no effect on previously reported results of consolidated operations or equity. Subsequent Events. We evaluate subsequent events up until the date the consolidated financial statements are issued. Recently Issued Accounting Pronouncements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU No. 2016-02”). The amendments in ASU No. 2016-02 changes the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. ASU No. 2016-02 is effective for annual periods beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption of ASU No. 2016-02 as of its issuance is permitted. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The Company is currently evaluating the impact of adopting the new leases standard on its consolidated financial statements. In September 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805), Simplifying the Accounting for Measurement-Period Adjustments (“ASU No. 2015-16”). ASU No. 2015-16 eliminates the requirement that an acquirer in a business combination account for measurement-period adjustments retrospectively. Instead, an acquirer will recognize a measurement-period adjustment during the period in which it determines the amount of the adjustment, including the effect on earnings of any amounts it would have recorded in previous periods if the accounting had been completed at the acquisition date. ASU No. 2015-16 is effective for fiscal years, and interim periods within these fiscal years, beginning after December 15, 2015, with early adoption permitted. The Company does not expect the adoption of ASU No. 2015-16 to have a significant impact on its consolidated financial statements. In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis Recently Adopted Accounting Standards —On January 1, 2016, the Company adopted, for all comparative periods presented, ASU No. 2015-03, . The amendments in ASU No. 2015-03 require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The adoption of ASU No. 2015-03 resulted in a change to the location where debt issuance costs are presented in the balance sheet and did not have any other material impact on the Company's financial statements.

Recent Real Estate Transactions

Recent Real Estate Transactions	3 Months Ended
	Mar. 31, 2016
Real Estate [Abstract]
Recent Real Estate Transactions	3. RECENT REAL ESTATE TRANSACTIONS During the three months ended March 31, 2016, NetREIT Dubose and the other Model Home entities acquired twenty four Model Home properties in Texas and leased them back to the homebuilders. The purchase price for the properties was $7.4 million. The purchase price paid was through cash payments of $2.2 million and promissory notes of $5.2 million. The Company allocated the purchase price of the properties acquired during the three months ended March 31, 2016 as follows: Buildings Total Land and Other Purchase Model Homes Properties $ 859,785 $ 6,539,760 $ 7,399,545 $ 859,785 $ 6,539,760 $ 7,399,545 During the three months ended March 31, 2016, the Company disposed of four Model Homes for approximately $1.3 million and approximately $460,000 in mortgage notes payable were repaid in connection with these sales. The Company recognized a gain of $175,000 related to the sale of these Model Homes.

Real Estate Assets

Real Estate Assets	3 Months Ended
	Mar. 31, 2016
Real Estate Assets [Abstract]
Real Estate Assets	4. REAL ESTATE ASSETS A summary of the properties owned by the Company as of March 31, 2016 is as follows: Real estate Date assets, net Property Name Acquired Location (in thousands) Havana/Parker Complex June 2006 Aurora, Colorado $ 2,070 Garden Gateway Plaza March 2007 Colorado Springs, Colorado 11,715 World Plaza September 2007 San Bernardino, California 6,595 Regatta Square October 2007 Denver, Colorado 1,850 Executive Office Park July 2008 Colorado Springs, Colorado 8,203 Waterman Plaza August 2008 San Bernardino, California 5,852 Pacific Oaks Plaza September 2008 Escondido, California 4,190 Morena Office Center January 2009 San Diego, California 5,215 Rangewood Medical Office Building March 2009 Colorado Springs, Colorado 2,281 Genesis Plaza August 2010 San Diego, California 8,335 Dakota Bank Buildings May 2011 Fargo, North Dakota 10,337 Yucca Valley Retail Center September 2011 Yucca Valley, California 7,107 Port of San Diego Complex December 2011 San Diego, California 14,108 Shoreline Medical Building May 2012 Half Moon Bay, California 5,821 The Presidio November 2012 Aurora, Colorado 6,553 Bismarck March 2014 Fargo, ND 5,038 Union Terrace Building August 2014 Lakewood, Colorado 8,473 Centennial Tech Center December 2014 Colorado Springs, Colorado 14,690 Arapahoe Service Center December 2014 Centennial, Colorado 11,175 Union Town Center December 2014 Colorado Springs, Colorado 10,835 West Fargo Industrial August 2015 Fargo, North Dakota 7,779 300 N.P. August 2015 Fargo, North Dakota 3,870 Research Parkway August 2015 Colorado Springs, Colorado 2,851 One Parke Center August 2015 Westminster, Colorado 8,938 Highland Court August 2015 Centennial, Colorado 13,045 Shea Center II December 2015 Highlands Ranch, Colorado 25,537 NetREIT, Inc properties 212,463 Model Home properties 2011-2016 AZ, CA, FL, IL, NC, NJ, PA, SC, TX, WI 23,127 Total real estate assets and lease intangibles, net $ 235,590 On April 26, 2016, the Company entered into a purchase and sale agreement to sell one of the buildings at the Yucca Valley Retail Center for a purchase price of $1,250,000. The sale is scheduled to close on May 18, 2016. On April 29, 2016, the Company entered into a purchase and sale agreement to sell the Havana/Parker Complex for a purchase price of $3,300,000. The sale is expected to close during the third quarter.

Lease Intangibles

Lease Intangibles	3 Months Ended
	Mar. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Lease Intangibles	5. LEASE INTANGIBLES The following table summarizes the net value of other intangible assets and the accumulated amortization for each class of intangible asset: March 31, 2016 December 31, 2015 Lease Intangibles Accumulated Amortization Lease Intangibles, net Lease Intangibles Accumulated Amortization Lease Intangibles, net In-place leases $ 6,903,882 $ (2,989,707 ) $ 3,914,175 $ 6,903,882 $ (2,647,002 ) $ 4,256,880 Leasing costs 4,816,858 (1,975,197 ) $ 2,841,661 4,816,858 (1,766,578 ) 3,050,280 Above-market leases 2,124,360 (1,462,330 ) $ 662,030 2,124,360 (1,415,762 ) 708,598 $ 13,845,100 $ (6,427,234 ) $ 7,417,866 $ 13,845,100 $ (5,829,342 ) $ 8,015,758 The net value of acquired intangible liabilities was $2,034,321 and $2,154,479 relating to below-market leases as of March 31, 2016 and December 31, 2015, respectively. Aggregate approximate amortization expense for the Company's lease intangible assets is as follows: Nine months remaining in 2016 $ 1,556,000 Years ending December 31: 2017 1,652,598 2018 1,132,151 2019 913,421 2020 708,769 Thereafter 1,454,927 Total $ 7,417,866 The weighted average period for the intangible assets as of March 31, 2016 was 4.3 years.

Other Assets

Other Assets	3 Months Ended
	Mar. 31, 2016
Other Assets [Abstract]
Other Assets	6. OTHER ASSETS Other assets consists of the following: March 31, December 31, 2016 2015 Deferred rent receivable $ 2,300,404 $ 2,097,623 Notes receivable 920,216 920,216 Raw land 900,000 900,000 Accounts receivable, net 856,745 683,446 Prepaid expenses, deposits and other 642,771 758,173 Other intangibles, net 516,308 536,533 Total other assets $ 6,136,444 $ 5,895,991

Mortgage Notes Payable

Mortgage Notes Payable	3 Months Ended
	Mar. 31, 2016
Mortgage Loans On Real Estate [Abstract]
Mortgage Notes Payable	7. MORTGAGE NOTES PAYABLE Mortgage notes payable consisted of the following: Principal as of March 31, December 31, Loan Interest Mortgage note property Notes 2016 2015 Type Rate (1) Maturity Havana/Parker Complex $ 2,500,000 $ 2,500,000 Fixed 6.51 % 7/1/2016 Bismarck Office Building 3,233,912 3,252,016 Fixed 4.50 % 10/1/2016 Rangewood Medical Office Building 1,010,117 1,027,085 Fixed 4.95 % 1/1/2019 Regatta Square 1,175,319 1,183,473 Fixed 4.95 % 1/1/2019 Port of San Diego Complex 10,032,884 10,097,726 Fixed 4.75 % 3/5/2020 Garden Gateway Plaza 6,756,895 6,799,229 Fixed 5.00 % 4/5/2020 West Fargo Industrial 4,483,666 4,500,000 Fixed 4.79 % 8/4/2020 Morena Office Center (2) 2,273,768 2,289,899 Fixed 4.50 % 1/1/2021 Pacific Oaks Plaza (2) 1,545,919 1,556,891 Fixed 4.50 % 6/1/2021 Shoreline Medical Building (2) 3,696,575 3,727,569 Fixed 5.10 % 6/1/2022 Highland Court 6,926,406 6,958,147 Fixed 3.82 % 8/28/2022 Dakota Bank Buildings 10,781,541 10,825,201 Fixed 4.74 % 7/6/2024 Union Terrace Building 6,600,000 6,600,000 Fixed 4.34 % 9/5/2024 The Presidio 6,000,000 6,000,000 Fixed 4.54 % 12/1/2024 Centennial Tech Center 10,197,553 10,237,591 Fixed 4.34 % 1/5/2025 Arapahoe Service Center 8,500,000 8,500,000 Fixed 4.28 % 1/5/2025 Union Town Center 8,440,000 8,440,000 Fixed 4.28 % 1/5/2025 Yucca Valley Retail Center 6,000,000 6,000,000 Fixed 4.30 % 4/11/2025 Executive Office Park (3) 4,289,015 4,307,975 Fixed 5.80 % 7/1/2025 Genesis Plaza 6,500,000 6,500,000 Fixed 4.65 % 8/25/2025 One Parke Centre 6,610,000 6,610,000 Fixed 4.77 % 9/5/2025 Shea Center II 17,727,500 17,727,500 Fixed 4.92 % 1/5/2026 Subtotal, NetREIT, Inc. properties 135,281,070 135,640,302 4.71 % Model Home mortgage notes 13,656,750 9,050,268 Fixed (4) 2016-2020 Mortgage Notes Payable $ 148,937,820 $ 144,690,570 Unamortized loan costs (2,015,055 ) (2,052,169 ) Mortgage Notes Payable, net $ 146,922,765 $ 142,638,401 (1) Interest rates as of March 31, 2016. (2) Interest rate subject to resetting on the 6th loan anniversary. (3) Interest rate is subject to reset on July 1, 2018. (4) Each Model Home has a standalone mortgage note at interest rates ranging from 3.8% to 5.8% per annum (at March 31, 2016). The Company is in compliance with all conditions and covenants of its mortgage notes payable. Scheduled principal payments of mortgage notes payable were as follows as of March 31, 2016: NetREIT, Inc. Model Homes Principal Notes Notes Payable Payments Nine months remaining in 2016 $ 6,911,373 $ 1,091,291 $ 8,002,664 Years ending December 31: 2017 1,793,725 1,732,105 $ 3,525,830 2018 6,002,953 1,504,089 $ 7,507,042 2019 2,908,937 6,938,944 $ 9,847,881 2020 2,276,108 2,390,321 $ 4,666,429 Thereafter 115,387,974 - $ 115,387,974 Total $ 135,281,070 $ 13,656,750 $ 148,937,820 On April 29, 2016, the Company entered into a financing agreement to encumber our property Waterman Plaza, located in San Bernardino, CA. The principal balance on the loan is $4,000,000 and it will mature on April 29, 2021. The loan’s interest rate will reset annually and will be the greater of: (i) four and one-quarter percent (4.25%); or (ii) the one year LIBOR Rate plus three hundred (300) basis points.

Series B Mandatorily Redeemable

Series B Mandatorily Redeemable Preferred Stock	3 Months Ended
	Mar. 31, 2016
Other Liabilities And Shares Subject To Mandatory Redemption [Abstract]
Series B Mandatorily Redeemable Preferred Stock	8. SERIES B MANDATORILY REDEEMABLE PREFERRED STOCK In August 2014, the Company closed on a private placement offering of its mandatorily redeemable Series B Preferred Stock. The financing, was funded in installments and completed on December 24, 2015. As of December 31, 2015, the Company had issued 35,000 shares of its Series B Preferred Stock. The Company has classified the Series B Preferred Stock as a liability in accordance with ASC Topic No. 480, “ Distinguishing Liabilities from Equity The Series B preferred stock has a $0.01 par value and a $1,000 liquidation preference. The Series B preferred stock shall be redeemed through a cash payment of the face value of the shares outstanding at redemption. The preferred return on the funds invested is 14% and shall be paid on a monthly basis. The Series B Preferred Stock is scheduled to be redeemed by the third anniversary of the closing dates; however, the Company has two one year options to extend the redemption date. The Company incurred approximately $3.1 million in legal and underwriting costs related to this transaction. These costs have been recorded as deferred financing costs on the accompanying consolidated balance sheets as a direct deduction from the carrying amount of that debt liability Scheduled payments of $16.6 million are due in 2017 with two one year options to extend the redemption date. Scheduled payments of $18.4 million are due in 2018 with two one year options to extend the redemption date.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2016
Stockholders Equity Note [Abstract]
Stockholders' Equity	9. STOCKHOLDERS' EQUITY Preferred Stock. The Company is authorized to issue up to 8,990,000 shares of preferred stock (the “Preferred Stock”). The Preferred Stock may be issued from time to time in one or more series. The Board of Directors is authorized to fix the number of shares of any series of the Preferred Stock, to determine the designation of any such series, and to determine or alter the rights granted to or imposed upon any wholly unissued series of preferred stock including the dividend rights, dividend rate, conversion rights, voting rights, redemption rights (including sinking fund provisions), redemption price, and liquidation preference. Common Stock. The Company is authorized to issue up to 100,000,000 shares of Series A Common Stock (“Common Stock”) $0.01 par value and 1,000 shares of Series B Common Stock $0.01 par value. The Common Stock and the Series B Common Stock have identical rights, preferences, terms and conditions except that the Series B Common Stockholders are not entitled to receive any portion of Company assets in the event of Company liquidation. There have been no Series B Common Stock shares issued. Each share of Common Stock entitles the holder to one vote. The Common Stock is not subject to redemption and it does not have any preference, conversion, exchange or pre-emptive rights. The articles of incorporation contain a restriction on ownership of the Common Stock that prevents one person from owning more than 9.8% of the outstanding shares of common stock. In October 2006, the Company commenced a private placement offering of its common stock. Through December 31, 2011 when the offering was closed, the Company conducted a self-underwritten private placement offering and sale of 20,000,000 shares of its common stock at a price of $10 per share. This offering was made only to accredited investors (and up to thirty-five non-accredited investors) pursuant to an exemption from registration provided by Section 4(2) and Rule 506 of Regulation D under the Securities Act of 1933, as amended. No public or private market currently exists for the securities sold under this offering. Cash Dividends. During the three months ended March 31, 2016 and 2015 the Company paid cash dividends, net of reinvested stock dividends, of $1,065,000 and $997,000, respectively, or at a rate of $0.40 per share on an annualized basis. As the Company reported net taxable losses in both of these periods, and on a cumulative basis, the cash dividends paid are expected to be a return of capital to the stockholders rather than a distribution of earnings. Dividend Reinvestment Plan. The Company has adopted a distribution reinvestment plan that allows stockholders to have dividends and other distributions otherwise distributable to them invested in additional shares of Company common stock. The Company has registered 1,500,000 shares of common stock pursuant to the dividend reinvestment plan. The dividend reinvestment plan became effective on January 23, 2012. The purchase price per share is 95% of the price the Company was formerly selling its shares or $9.50 per share. No sales commission or dealer manager fee will be paid on shares sold through the dividend reinvestment plan. The Company may amend, suspend or terminate the Plan at any time. Any such amendment, suspension or termination will be effective upon a designated dividend record date and notice of such amendment, suspension or termination will be sent to all Participants at least thirty (30) days prior to such record date. As of March 31, 2016 approximately $14.6 million or approximately 1,533,000 shares of common stock have been issued under the dividend reinvestment plan to date.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	10. RELATED PARTY TRANSACTIONS The Company leases a portion of its corporate headquarters at Pacific Oaks Plaza in Escondido, California to entities 100% owned by the Company’s Chairman and Chief Executive Officer. Rental income recorded for the three months ended March 31, 2016 and 2015 totaled $7,000 and $7,000, respectively.

Segments

Segments	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segments	11. SEGMENTS The Company’s reportable segments consist of the four types of commercial real estate properties for which the Company’s decision-makers internally evaluate operating performance and financial results: Residential Properties, Industrial and Office Properties, Retail Properties; and Self-Storage Properties (sold on April 10, 2015). The Company also has certain corporate level activities including accounting, finance, legal administration and management information systems which are not considered separate operating segments. The accounting policies of the reportable segments are the same as those described in Note 2. There is no intersegment activity. The Company evaluates the performance of its segments based upon net operating income (“NOI”), which is a non-GAAP supplemental financial measure. The Company defines NOI for its segments as operating revenues (rental income, tenant reimbursements and other operating income) less property and related expenses (property operating expenses, real estate taxes, insurance, asset management fees, impairments and provision for bad debt). NOI excludes certain items that are not considered to be controllable in connection with the management of an asset such as non-property income and expenses, depreciation and amortization, real estate acquisition fees and expenses and corporate general and administrative expenses. The Company uses NOI to evaluate the operating performance of the Company’s real estate investments and to make decisions about resource allocations. The following tables reconcile the Company’s segment activity to its results of operations and financial position as of and for the three months ended March 31, 2016 and 2015. For the Three Months Ended March 31, 2016 2015 Office/Industrial Properties: Rental income $ 7,019,176 $ 4,008,818 Property and related expenses (2,232,590 ) (1,580,965 ) Net operating income, as defined 4,786,586 2,427,853 Residential Properties: Rental income 388,400 357,903 Property and related expenses (17,704 ) (11,238 ) Net operating income, as defined 370,696 346,665 Retail Properties: Rental income 1,049,998 1,015,878 Property and related expenses (223,057 ) (347,385 ) Net operating income, as defined 826,941 668,493 Self-Storage Properties (discontinued operations): Rental income - 892,977 Property and related expenses - (862,674 ) Net operating income, as defined - 30,303 Reconciliation to net loss: Total net operating income, as defined, for reportable segments 5,984,223 3,473,314 General and administrative expenses (1,298,959 ) (1,154,801 ) Depreciation and amortization (2,659,531 ) (1,861,546 ) Interest expense (3,388,602 ) (2,379,592 ) Interest income 21,739 14,604 Gain on sale of real estate 175,486 78,496 Net loss $ (1,165,644 ) $ (1,829,525 ) March 31, December 31, Assets by Reportable Segment: 2016 2015 Office/Industrial Properties: Land, buildings and improvements, net (1) $ 180,373,842 $ 181,776,776 Total assets (2) $ 191,516,280 $ 187,198,961 Residential Properties: Land, buildings and improvements, net (1) $ 20,125,666 $ 13,914,168 Total assets (2) $ 20,681,133 $ 14,395,904 Retail Properties: Land, buildings and improvements, net (1) $ 35,090,222 $ 35,395,235 Total assets (2) $ 36,643,527 $ 36,747,069 Reconciliation to Total Assets: Total assets for reportable segments $ 248,840,940 $ 238,341,934 Other unallocated assets: Cash and cash equivalents 5,371,721 6,626,423 Other assets, net 3,056,188 9,306,036 Total Assets $ 257,268,849 $ 254,274,393 (1) Includes lease intangibles and the land purchase option related to property acquisitions. (2) Includes land, buildings and improvements, current receivables, deferred rent receivables and deferred leasing costs and other related intangible assets, all shown on a net basis. Capital Expenditures by Reportable Segment For the Three Months Ended March 31, 2016 2015 Office/Industrial Properties: Capital expenditures and tenant improvements $ 748,800 $ 1,118,854 Residential Properties: Acquisition of operating properties 7,399,545 3,756,740 Retail Properties: Capital expenditures and tenant improvements 1,192 41,333 Self-Storage Properties (real estate held for sale): Capital expenditures and tenant improvements - 6,250 Totals: Acquisition of operating properties, net 7,399,545 3,756,740 Capital expenditures and tenant improvements 749,992 1,166,437 Total real estate investments $ 8,149,537 $ 4,923,177

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	12. SUBSEQUENT EVENTS On April 29, 2016, the Company entered into a financing agreement to encumber our property Waterman Plaza, located in San Bernardino, CA. The principal balance on the loan is $4,000,000 and it will mature on April 29, 2021. The loan’s interest rate will reset annually and will be the greater of: (i) four and one-quarter percent (4.25%); or (ii) the one year LIBOR Rate plus three hundred (300) basis points. On April 26, 2016, the Company entered into a purchase and sale agreement to sell one of the buildings at the Yucca Valley Retail Center for a purchase price of $1,250,000. The sale is scheduled to close on May 18, 2016. On April 29, 2016, the Company entered into a purchase and sale agreement to sell the Havana/Parker Complex for a purchase price of $3,300,000. The sale is expected to close during the third quarter.

Significant Accounting Polici19

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation. The accompanying condensed consolidated financial statements have been prepared by the Company's management in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial statement and the instructions to Form 10-Q and Article 10 of Regulation S-X. Certain information and footnote disclosures required for annual consolidated financial statements have been condensed or excluded pursuant to rules and regulations of the SEC. In the opinion of management, the accompanying condensed consolidated financial statements reflect all adjustments of a normal and recurring nature that are considered necessary for a fair presentation of our financial position, results of our operations, and cash flows as of and for the three months ended March 31, 2016 and 2015, respectively. However, the results of operations for the interim periods are not necessarily indicative of the results that may be expected for the year ending December 31, 2016. These condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2015. The condensed consolidated balance sheet at year ended December 31, 2015 has been derived from the audited consolidated financial statements included in the Form 10-K filed with the SEC on March 18, 2016.
Principles of Consolidation	Principles of Consolidation. The accompanying condensed consolidated financial statements include the accounts of the Company and its direct and indirect wholly-owned subsidiaries and entities the Company controls or of which it is the primary beneficiary. All significant intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Significant estimates include the allocation of purchase price paid for property acquisitions between land, building and intangible assets acquired including their useful lives; valuation of long-lived assets, and the allowance for doubtful accounts, which is based on an evaluation of the tenants’ ability to pay. Actual results may differ from those estimates.
Comprehensive Loss	Comprehensive Loss. Comprehensive loss for the periods reported was comprised solely of the Company's net loss. The comprehensive loss for the three months ended March 31, 2016 and March 31, 2015 was $1.2 million and $1.8 million , respectively. There were no other changes in equity that were excluded from net loss for all periods presented.
Reclassifications	Reclassifications. Certain reclassifications have been made to the previously presented consolidated financial statements and condensed consolidated financial statements to conform to the current period presentation. These reclassifications had no effect on previously reported results of consolidated operations or equity.
Subsequent Events	Subsequent Events. We evaluate subsequent events up until the date the consolidated financial statements are issued.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU No. 2016-02”). The amendments in ASU No. 2016-02 changes the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. ASU No. 2016-02 is effective for annual periods beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption of ASU No. 2016-02 as of its issuance is permitted. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The Company is currently evaluating the impact of adopting the new leases standard on its consolidated financial statements. In September 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805), Simplifying the Accounting for Measurement-Period Adjustments (“ASU No. 2015-16”). ASU No. 2015-16 eliminates the requirement that an acquirer in a business combination account for measurement-period adjustments retrospectively. Instead, an acquirer will recognize a measurement-period adjustment during the period in which it determines the amount of the adjustment, including the effect on earnings of any amounts it would have recorded in previous periods if the accounting had been completed at the acquisition date. ASU No. 2015-16 is effective for fiscal years, and interim periods within these fiscal years, beginning after December 15, 2015, with early adoption permitted. The Company does not expect the adoption of ASU No. 2015-16 to have a significant impact on its consolidated financial statements. In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis Recently Adopted Accounting Standards —On January 1, 2016, the Company adopted, for all comparative periods presented, ASU No. 2015-03, . The amendments in ASU No. 2015-03 require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The adoption of ASU No. 2015-03 resulted in a change to the location where debt issuance costs are presented in the balance sheet and did not have any other material impact on the Company's financial statements.

Recent Real Estate Transactio20

Recent Real Estate Transactions (Tables)	3 Months Ended
	Mar. 31, 2016
Real Estate [Abstract]
Properties Acquired and Sold	The Company allocated the purchase price of the properties acquired during the three months ended March 31, 2016 as follows: Buildings Total Land and Other Purchase Model Homes Properties $ 859,785 $ 6,539,760 $ 7,399,545 $ 859,785 $ 6,539,760 $ 7,399,545

Real Estate Assets (Tables)

Real Estate Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Real Estate Assets [Abstract]
Real Estate Properties Owned	A summary of the properties owned by the Company as of March 31, 2016 is as follows: Real estate Date assets, net Property Name Acquired Location (in thousands) Havana/Parker Complex June 2006 Aurora, Colorado $ 2,070 Garden Gateway Plaza March 2007 Colorado Springs, Colorado 11,715 World Plaza September 2007 San Bernardino, California 6,595 Regatta Square October 2007 Denver, Colorado 1,850 Executive Office Park July 2008 Colorado Springs, Colorado 8,203 Waterman Plaza August 2008 San Bernardino, California 5,852 Pacific Oaks Plaza September 2008 Escondido, California 4,190 Morena Office Center January 2009 San Diego, California 5,215 Rangewood Medical Office Building March 2009 Colorado Springs, Colorado 2,281 Genesis Plaza August 2010 San Diego, California 8,335 Dakota Bank Buildings May 2011 Fargo, North Dakota 10,337 Yucca Valley Retail Center September 2011 Yucca Valley, California 7,107 Port of San Diego Complex December 2011 San Diego, California 14,108 Shoreline Medical Building May 2012 Half Moon Bay, California 5,821 The Presidio November 2012 Aurora, Colorado 6,553 Bismarck March 2014 Fargo, ND 5,038 Union Terrace Building August 2014 Lakewood, Colorado 8,473 Centennial Tech Center December 2014 Colorado Springs, Colorado 14,690 Arapahoe Service Center December 2014 Centennial, Colorado 11,175 Union Town Center December 2014 Colorado Springs, Colorado 10,835 West Fargo Industrial August 2015 Fargo, North Dakota 7,779 300 N.P. August 2015 Fargo, North Dakota 3,870 Research Parkway August 2015 Colorado Springs, Colorado 2,851 One Parke Center August 2015 Westminster, Colorado 8,938 Highland Court August 2015 Centennial, Colorado 13,045 Shea Center II December 2015 Highlands Ranch, Colorado 25,537 NetREIT, Inc properties 212,463 Model Home properties 2011-2016 AZ, CA, FL, IL, NC, NJ, PA, SC, TX, WI 23,127 Total real estate assets and lease intangibles, net $ 235,590

Lease Intangibles (Tables)

Lease Intangibles (Tables)	3 Months Ended
	Mar. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Net Value of Other Intangible Assets	The following table summarizes the net value of other intangible assets and the accumulated amortization for each class of intangible asset: March 31, 2016 December 31, 2015 Lease Intangibles Accumulated Amortization Lease Intangibles, net Lease Intangibles Accumulated Amortization Lease Intangibles, net In-place leases $ 6,903,882 $ (2,989,707 ) $ 3,914,175 $ 6,903,882 $ (2,647,002 ) $ 4,256,880 Leasing costs 4,816,858 (1,975,197 ) $ 2,841,661 4,816,858 (1,766,578 ) 3,050,280 Above-market leases 2,124,360 (1,462,330 ) $ 662,030 2,124,360 (1,415,762 ) 708,598 $ 13,845,100 $ (6,427,234 ) $ 7,417,866 $ 13,845,100 $ (5,829,342 ) $ 8,015,758
Amortization Expense for the Company Lease Intangible Assets	Aggregate approximate amortization expense for the Company's lease intangible assets is as follows: Nine months remaining in 2016 $ 1,556,000 Years ending December 31: 2017 1,652,598 2018 1,132,151 2019 913,421 2020 708,769 Thereafter 1,454,927 Total $ 7,417,866

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Other Assets [Abstract]
Other Assets	Other assets consists of the following: March 31, December 31, 2016 2015 Deferred rent receivable $ 2,300,404 $ 2,097,623 Notes receivable 920,216 920,216 Raw land 900,000 900,000 Accounts receivable, net 856,745 683,446 Prepaid expenses, deposits and other 642,771 758,173 Other intangibles, net 516,308 536,533 Total other assets $ 6,136,444 $ 5,895,991

Mortgage Notes Payable (Tables)

Mortgage Notes Payable (Tables)	3 Months Ended
	Mar. 31, 2016
Mortgage Loans On Real Estate [Abstract]
Mortgage Notes Payable	Mortgage notes payable consisted of the following: Principal as of March 31, December 31, Loan Interest Mortgage note property Notes 2016 2015 Type Rate (1) Maturity Havana/Parker Complex $ 2,500,000 $ 2,500,000 Fixed 6.51 % 7/1/2016 Bismarck Office Building 3,233,912 3,252,016 Fixed 4.50 % 10/1/2016 Rangewood Medical Office Building 1,010,117 1,027,085 Fixed 4.95 % 1/1/2019 Regatta Square 1,175,319 1,183,473 Fixed 4.95 % 1/1/2019 Port of San Diego Complex 10,032,884 10,097,726 Fixed 4.75 % 3/5/2020 Garden Gateway Plaza 6,756,895 6,799,229 Fixed 5.00 % 4/5/2020 West Fargo Industrial 4,483,666 4,500,000 Fixed 4.79 % 8/4/2020 Morena Office Center (2) 2,273,768 2,289,899 Fixed 4.50 % 1/1/2021 Pacific Oaks Plaza (2) 1,545,919 1,556,891 Fixed 4.50 % 6/1/2021 Shoreline Medical Building (2) 3,696,575 3,727,569 Fixed 5.10 % 6/1/2022 Highland Court 6,926,406 6,958,147 Fixed 3.82 % 8/28/2022 Dakota Bank Buildings 10,781,541 10,825,201 Fixed 4.74 % 7/6/2024 Union Terrace Building 6,600,000 6,600,000 Fixed 4.34 % 9/5/2024 The Presidio 6,000,000 6,000,000 Fixed 4.54 % 12/1/2024 Centennial Tech Center 10,197,553 10,237,591 Fixed 4.34 % 1/5/2025 Arapahoe Service Center 8,500,000 8,500,000 Fixed 4.28 % 1/5/2025 Union Town Center 8,440,000 8,440,000 Fixed 4.28 % 1/5/2025 Yucca Valley Retail Center 6,000,000 6,000,000 Fixed 4.30 % 4/11/2025 Executive Office Park (3) 4,289,015 4,307,975 Fixed 5.80 % 7/1/2025 Genesis Plaza 6,500,000 6,500,000 Fixed 4.65 % 8/25/2025 One Parke Centre 6,610,000 6,610,000 Fixed 4.77 % 9/5/2025 Shea Center II 17,727,500 17,727,500 Fixed 4.92 % 1/5/2026 Subtotal, NetREIT, Inc. properties 135,281,070 135,640,302 4.71 % Model Home mortgage notes 13,656,750 9,050,268 Fixed (4) 2016-2020 Mortgage Notes Payable $ 148,937,820 $ 144,690,570 Unamortized loan costs (2,015,055 ) (2,052,169 ) Mortgage Notes Payable, net $ 146,922,765 $ 142,638,401 (1) Interest rates as of March 31, 2016. (2) Interest rate subject to resetting on the 6th loan anniversary. (3) Interest rate is subject to reset on July 1, 2018. (4) Each Model Home has a standalone mortgage note at interest rates ranging from 3.8% to 5.8% per annum (at March 31, 2016). The Company is in compliance with all conditions and covenants of its mortgage notes payable.
Scheduled Principal Payments of Mortgage Notes Payable	Scheduled principal payments of mortgage notes payable were as follows as of March 31, 2016: NetREIT, Inc. Model Homes Principal Notes Notes Payable Payments Nine months remaining in 2016 $ 6,911,373 $ 1,091,291 $ 8,002,664 Years ending December 31: 2017 1,793,725 1,732,105 $ 3,525,830 2018 6,002,953 1,504,089 $ 7,507,042 2019 2,908,937 6,938,944 $ 9,847,881 2020 2,276,108 2,390,321 $ 4,666,429 Thereafter 115,387,974 - $ 115,387,974 Total $ 135,281,070 $ 13,656,750 $ 148,937,820

Segments (Tables)

Segments (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Net Operating Income by Segment	The following tables reconcile the Company’s segment activity to its results of operations and financial position as of and for the three months ended March 31, 2016 and 2015. For the Three Months Ended March 31, 2016 2015 Office/Industrial Properties: Rental income $ 7,019,176 $ 4,008,818 Property and related expenses (2,232,590 ) (1,580,965 ) Net operating income, as defined 4,786,586 2,427,853 Residential Properties: Rental income 388,400 357,903 Property and related expenses (17,704 ) (11,238 ) Net operating income, as defined 370,696 346,665 Retail Properties: Rental income 1,049,998 1,015,878 Property and related expenses (223,057 ) (347,385 ) Net operating income, as defined 826,941 668,493 Self-Storage Properties (discontinued operations): Rental income - 892,977 Property and related expenses - (862,674 ) Net operating income, as defined - 30,303 Reconciliation to net loss: Total net operating income, as defined, for reportable segments 5,984,223 3,473,314 General and administrative expenses (1,298,959 ) (1,154,801 ) Depreciation and amortization (2,659,531 ) (1,861,546 ) Interest expense (3,388,602 ) (2,379,592 ) Interest income 21,739 14,604 Gain on sale of real estate 175,486 78,496 Net loss $ (1,165,644 ) $ (1,829,525 )
Reconciliation of Assets by Segment to Total Assets	March 31, December 31, Assets by Reportable Segment: 2016 2015 Office/Industrial Properties: Land, buildings and improvements, net (1) $ 180,373,842 $ 181,776,776 Total assets (2) $ 191,516,280 $ 187,198,961 Residential Properties: Land, buildings and improvements, net (1) $ 20,125,666 $ 13,914,168 Total assets (2) $ 20,681,133 $ 14,395,904 Retail Properties: Land, buildings and improvements, net (1) $ 35,090,222 $ 35,395,235 Total assets (2) $ 36,643,527 $ 36,747,069 Reconciliation to Total Assets: Total assets for reportable segments $ 248,840,940 $ 238,341,934 Other unallocated assets: Cash and cash equivalents 5,371,721 6,626,423 Other assets, net 3,056,188 9,306,036 Total Assets $ 257,268,849 $ 254,274,393 (1) Includes lease intangibles and the land purchase option related to property acquisitions. (2) Includes land, buildings and improvements, current receivables, deferred rent receivables and deferred leasing costs and other related intangible assets, all shown on a net basis.
Reconciliation of Capital Expenditures by Segment to Total Real Estate Investments	Capital Expenditures by Reportable Segment For the Three Months Ended March 31, 2016 2015 Office/Industrial Properties: Capital expenditures and tenant improvements $ 748,800 $ 1,118,854 Residential Properties: Acquisition of operating properties 7,399,545 3,756,740 Retail Properties: Capital expenditures and tenant improvements 1,192 41,333 Self-Storage Properties (real estate held for sale): Capital expenditures and tenant improvements - 6,250 Totals: Acquisition of operating properties, net 7,399,545 3,756,740 Capital expenditures and tenant improvements 749,992 1,166,437 Total real estate investments $ 8,149,537 $ 4,923,177

Organization (Details)

Organization (Details)	3 Months Ended
	Mar. 31, 2016ft²PropertyCounterparty_Investment
Real Estate Properties [Line Items]
Number of limited partnerships in which the company is sole General Partner | Counterparty_Investment	3
Number of partnerships that purchase and leaseback model homes from developers in which the company is a limited partner | Counterparty_Investment	4
Key Provisions of Operating or Partnership Agreement, Description	The following partnership activity occurred during the periods covered by these condensed consolidated financial statements:The Company is the sole General Partner in three limited partnerships (NetREIT Palm Self-Storage LP, NetREIT Casa Grande LP and NetREIT Garden Gateway LP), all with ownership in real estate income producing properties. The Company refers to these entities collectively, as the “NetREIT Partnerships”.The Company is a limited partner in four partnerships that purchase and leaseback Model Homes from developers (“Dubose Model Home Investors #201, LP”, “Dubose Model Homes Investors #202, LP”, “Dubose Model Homes Investors #203, LP”and “NetREIT Dubose Model Home REIT, LP”). The Company refers to these entities collectively, as the “Model Home Partnerships”. The Company has determined that the entities described above, where it owns less than 100%, should be included in the Company’s consolidated financial statements as the Company directs their activities and believes that it controls these limited partnerships through NetREIT, the Parent Company.
Office And Industrial Properties [Member]
Real Estate Properties [Line Items]
Number of properties | Property	18
Area of Real Estate Property | ft²	1,614,000
Retail Properties [Member]
Real Estate Properties [Line Items]
Number of properties | Property	6
Area of Real Estate Property | ft²	236,000
Residential Properties [Member]
Real Estate Properties [Line Items]
Number of properties | Property	84
Number of limited partnerships in which the company is sole General Partner | Counterparty_Investment	4

Significant Accounting Polici27

Significant Accounting Policies (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accounting Policies [Abstract]
Comprehensive loss	$ 1.2	$ 1.8

Recent Real Estate Transactio28

Recent Real Estate Transactions (Disposals of Properties) (Details)	3 Months Ended
	Mar. 31, 2016USD ($)Property	Dec. 31, 2015USD ($)
Real Estate Properties [Line Items]
Promissory note issued for property acquired	$ 146,922,765	$ 142,638,401
Residential Properties [Member]
Real Estate Properties [Line Items]
Number of properties | Property	84
Purchase price of property acquired	$ 7,399,545
Residential Properties [Member] | Twenty Four Dubos Model Homes [Member]
Real Estate Properties [Line Items]
Number of properties | Property	24
Purchase price of property acquired	$ 7,399,545
Cash payment for the properties acquired	2,200,000
Promissory note issued for property acquired	$ 5,200,000
Residential Properties [Member] | Four Dubos Model Homes [Member]
Real Estate Properties [Line Items]
Number of properties | Property	4
Proceeds from sale of property	$ 1,300,000
Mortgage notes payable retired	460,000
Gain (loss) on sale of property	$ 175,000

Recent Real Estate Transactio29

Recent Real Estate Transactions (Acquisitions of Properties) (Details) - Residential Properties [Member]	Mar. 31, 2016USD ($)
Allocated Purchase Price of Properties Acquired [Abstract]
Land	$ 859,785
Buildings and Other	6,539,760
Total purchase price	7,399,545
Twenty Four Dubos Model Homes [Member]
Allocated Purchase Price of Properties Acquired [Abstract]
Land	859,785
Buildings and Other	6,539,760
Total purchase price	$ 7,399,545

Real Estate Assets (Summary of

Real Estate Assets (Summary of Properties Owned) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Real Estate And Accumulated Depreciation [Line Items]
Real Estate Assets Owned	$ 235,589,730	$ 231,086,179
Havana Parker [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Jun. 1, 2006
Location	Aurora, Colorado
Real Estate Assets Owned	$ 2,070,000
Garden Gateway Plaza [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Mar. 1, 2007
Location	Colorado Springs, Colorado
Real Estate Assets Owned	$ 11,715,000
World Plaza [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Sep. 1, 2007
Location	San Bernardino, California
Real Estate Assets Owned	$ 6,595,000
Regatta Square [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Oct. 1, 2007
Location	Denver, Colorado
Real Estate Assets Owned	$ 1,850,000
Executive Office Park [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Jul. 1, 2008
Location	Colorado Springs, Colorado
Real Estate Assets Owned	$ 8,203,000
Waterman Plaza [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Aug. 1, 2008
Location	San Bernardino, California
Real Estate Assets Owned	$ 5,852,000
Pacific Oaks Plaza [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Sep. 1, 2008
Location	Escondido, California
Real Estate Assets Owned	$ 4,190,000
Morena Office Center [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Jan. 1, 2009
Location	San Diego, California
Real Estate Assets Owned	$ 5,215,000
Rangewood Medical Office Building [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Mar. 1, 2009
Location	Colorado Springs, Colorado
Real Estate Assets Owned	$ 2,281,000
Genesis Plaza [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Aug. 1, 2010
Location	San Diego, California
Real Estate Assets Owned	$ 8,335,000
Dakota Bank Buildings [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	May 1, 2011
Location	Fargo, North Dakota
Real Estate Assets Owned	$ 10,337,000
Yucca Valley Retail Center [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Sep. 1, 2011
Location	Yucca Valley, California
Real Estate Assets Owned	$ 7,107,000
Port of San Diego Complex [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Dec. 1, 2011
Location	San Diego, California
Real Estate Assets Owned	$ 14,108,000
Shoreline Medical Building [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	May 1, 2012
Location	Half Moon Bay, California
Real Estate Assets Owned	$ 5,821,000
The Presidio [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Nov. 1, 2012
Location	Aurora, Colorado
Real Estate Assets Owned	$ 6,553,000
Bismarck Office [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Mar. 1, 2014
Location	Fargo, ND
Real Estate Assets Owned	$ 5,038,000
Union Terrace [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Aug. 1, 2014
Location	Lakewood, Colorado
Real Estate Assets Owned	$ 8,473,000
Centennial Tech Center [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Dec. 1, 2014
Location	Colorado Springs, Colorado
Real Estate Assets Owned	$ 14,690,000
Arapahoe Service Center [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Dec. 1, 2014
Location	Centennial, Colorado
Real Estate Assets Owned	$ 11,175,000
Union Town Center [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Dec. 1, 2014
Location	Colorado Springs, Colorado
Real Estate Assets Owned	$ 10,835,000
West Fargo Industrial [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Aug. 1, 2015
Location	Fargo, North Dakota
Real Estate Assets Owned	$ 7,779,000
300 N.P. [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Aug. 1, 2015
Location	Fargo, North Dakota
Real Estate Assets Owned	$ 3,870,000
Research Parkway [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Aug. 1, 2015
Location	Colorado Springs, Colorado
Real Estate Assets Owned	$ 2,851,000
One Parke Center [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Aug. 1, 2015
Location	Westminster, Colorado
Real Estate Assets Owned	$ 8,938,000
Highland Court [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Aug. 1, 2015
Location	Centennial, Colorado
Real Estate Assets Owned	$ 13,045,000
Shea Center II [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Dec. 1, 2015
Location	Highlands Ranch, Colorado
Real Estate Assets Owned	$ 25,537,000
NetREIT, Inc. Properties [Member]
Real Estate And Accumulated Depreciation [Line Items]
Real Estate Assets Owned	212,463,000
Model Home Properties [Member]
Real Estate And Accumulated Depreciation [Line Items]
Real Estate Assets Owned	$ 23,127,000
Model Home Properties [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Jan. 1, 2011
Model Home Properties [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Jan. 1, 2016

Real Estate Assets (Details)

Real Estate Assets (Details) - Subsequent Event - USD ($)	Apr. 29, 2016	Apr. 26, 2016
Yucca Valley Retail Center [Member]
Real Estate And Accumulated Depreciation [Line Items]
Asset purchase price		$ 1,250,000
Havana Parker [Member]
Real Estate And Accumulated Depreciation [Line Items]
Asset purchase price	$ 3,300,000

Lease Intangibles (Net Value of

Lease Intangibles (Net Value of Other Intangible Assets and Amortization by Class) (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Finite Lived Intangible Assets [Line Items]
Lease intangibles	$ 13,845,100	$ 13,845,100
Accumulated amortization	(6,427,234)	(5,829,342)
Lease intangibles, net	7,417,866	8,015,758
Leases, Acquired-in-Place [Member]
Finite Lived Intangible Assets [Line Items]
Lease intangibles	6,903,882	6,903,882
Accumulated amortization	(2,989,707)	(2,647,002)
Lease intangibles, net	3,914,175	4,256,880
Leasing Cost [Member]
Finite Lived Intangible Assets [Line Items]
Lease intangibles	4,816,858	4,816,858
Accumulated amortization	(1,975,197)	(1,766,578)
Lease intangibles, net	2,841,661	3,050,280
Above Market Leases [Member]
Finite Lived Intangible Assets [Line Items]
Lease intangibles	2,124,360	2,124,360
Accumulated amortization	(1,462,330)	(1,415,762)
Lease intangibles, net	$ 662,030	$ 708,598

Lease Intangibles - Additional

Lease Intangibles - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Finite Lived Intangible Assets [Line Items]
Below-market leases, net	$ 2,034,321	$ 2,154,479
Weighted average [Member]
Finite Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Remaining Amortization Period	4 years 3 months 18 days

Lease Intangibles (Amortization

Lease Intangibles (Amortization Expense for the Company Lease Intangible Assets) (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Nine months remaining in 2016	$ 1,556,000
2,017	1,652,598
2,018	1,132,151
2,019	913,421
2,020	708,769
Thereafter	1,454,927
Lease intangibles, net	$ 7,417,866	$ 8,015,758

Other Assets (Details)

Other Assets (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Other Assets [Line Items]
Raw land	$ 50,613,432	$ 49,965,418
Other intangibles, net	516,308	536,533
Total other assets	6,136,444	5,895,991
Other Assets [Member]
Other Assets [Line Items]
Deferred rent receivable	2,300,404	2,097,623
Notes receivable	920,216	920,216
Raw land	900,000	900,000
Accounts receivable, net	856,745	683,446
Prepaid expenses, deposits and other	$ 642,771	$ 758,173

Mortgage Notes Payable (Details

Mortgage Notes Payable (Details) - USD ($)		3 Months Ended
		Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Mortgage notes payable		$ 148,937,820	$ 144,690,570
Unamortized loan costs		(2,015,055)	(2,052,169)
Mortgage notes payable, net		146,922,765	142,638,401
Havana Parker [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 2,500,000	2,500,000
Fixed interest rate on mortgage (in hundredths)	[1]	6.51%
Maturity date		Jul. 1, 2016
Bismarck Office [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 3,233,912	3,252,016
Fixed interest rate on mortgage (in hundredths)	[1]	4.50%
Maturity date		Oct. 1, 2016
Rangewood Medical Office Building [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 1,010,117	1,027,085
Fixed interest rate on mortgage (in hundredths)	[1]	4.95%
Maturity date		Jan. 1, 2019
Regatta Square [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 1,175,319	1,183,473
Fixed interest rate on mortgage (in hundredths)	[1]	4.95%
Maturity date		Jan. 1, 2019
Port of San Diego Complex [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 10,032,884	10,097,726
Fixed interest rate on mortgage (in hundredths)	[1]	4.75%
Maturity date		Mar. 5, 2020
Garden Gateway Plaza [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 6,756,895	6,799,229
Fixed interest rate on mortgage (in hundredths)	[1]	5.00%
Maturity date		Apr. 5, 2020
West Fargo Industrial [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 4,483,666	4,500,000
Fixed interest rate on mortgage (in hundredths)	[1]	4.79%
Maturity date		Aug. 4, 2020
Morena Office Center [Member]
Debt Instrument [Line Items]
Mortgage notes payable	[2]	$ 2,273,768	2,289,899
Fixed interest rate on mortgage (in hundredths)	[1],[2]	4.50%
Maturity date	[2]	Jan. 1, 2021
Pacific Oaks Plaza [Member]
Debt Instrument [Line Items]
Mortgage notes payable	[2]	$ 1,545,919	1,556,891
Fixed interest rate on mortgage (in hundredths)	[1],[2]	4.50%
Maturity date	[2]	Jun. 1, 2021
Shoreline Medical Building [Member]
Debt Instrument [Line Items]
Mortgage notes payable	[2]	$ 3,696,575	3,727,569
Fixed interest rate on mortgage (in hundredths)	[1],[2]	5.10%
Maturity date	[2]	Jun. 1, 2022
Highland Court [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 6,926,406	6,958,147
Fixed interest rate on mortgage (in hundredths)	[1]	3.82%
Maturity date		Aug. 28, 2022
Dakota Bank Buildings [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 10,781,541	10,825,201
Fixed interest rate on mortgage (in hundredths)	[1]	4.74%
Maturity date		Jul. 6, 2024
Union Terrace [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 6,600,000	6,600,000
Fixed interest rate on mortgage (in hundredths)	[1]	4.34%
Maturity date		Sep. 5, 2024
The Presidio [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 6,000,000	6,000,000
Fixed interest rate on mortgage (in hundredths)	[1]	4.54%
Maturity date		Dec. 1, 2024
Centennial Tech Center [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 10,197,553	10,237,591
Fixed interest rate on mortgage (in hundredths)	[1]	4.34%
Maturity date		Jan. 5, 2025
Arapahoe Service Center [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 8,500,000	8,500,000
Fixed interest rate on mortgage (in hundredths)	[1]	4.28%
Maturity date		Jan. 5, 2025
Union Town Center [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 8,440,000	8,440,000
Fixed interest rate on mortgage (in hundredths)	[1]	4.28%
Maturity date		Jan. 5, 2025
Yucca Valley Retail Center [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 6,000,000	6,000,000
Fixed interest rate on mortgage (in hundredths)	[1]	4.30%
Maturity date		Apr. 11, 2025
Executive Office Park [Member]
Debt Instrument [Line Items]
Mortgage notes payable	[3]	$ 4,289,015	4,307,975
Fixed interest rate on mortgage (in hundredths)	[1],[3]	5.80%
Maturity date	[3]	Jul. 1, 2025
Genesis Plaza [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 6,500,000	6,500,000
Fixed interest rate on mortgage (in hundredths)	[1]	4.65%
Maturity date		Aug. 25, 2025
One Parke Center [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 6,610,000	6,610,000
Fixed interest rate on mortgage (in hundredths)	[1]	4.77%
Maturity date		Sep. 5, 2025
Shea Center II [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 17,727,500	17,727,500
Fixed interest rate on mortgage (in hundredths)	[1]	4.92%
Maturity date		Jan. 5, 2026
NetREIT, Inc. Properties [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 135,281,070	135,640,302
Fixed interest rate on mortgage (in hundredths)	[1]	4.71%
Model Home Properties [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 13,656,750	$ 9,050,268
Model Home Properties [Member] | Minimum [Member]
Debt Instrument [Line Items]
Maturity date		Jan. 1, 2016
Model Home Properties [Member] | Maximum [Member]
Debt Instrument [Line Items]
Maturity date		Jan. 1, 2020
[1]	Interest rates as of March 31, 2016.
[2]	Interest rate subject to resetting on the 6th loan anniversary.
[3]	Interest rate is subject to reset on July 1, 2018.

Mortgage Notes Payable (Parenth

Mortgage Notes Payable (Parenthetical) (Details)	3 Months Ended
	Mar. 31, 2016
Morena Office Center [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate Terms	Interest rate subject to resetting on the 6th loan anniversary.
Pacific Oaks Plaza [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate Terms	Interest rate subject to resetting on the 6th loan anniversary.
Shoreline Medical Building [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate Terms	Interest rate subject to resetting on the 6th loan anniversary.
Executive Office Park [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate Terms	Interest rate is subject to reset on July 1, 2018
Model Home Properties [Member]
Debt Instrument [Line Items]
Fixed interest rate on mortgage range, minimum (in hundredths)	3.80%
Fixed interest rate on mortgage range, maximum (in hundredths)	5.80%

Mortgage Notes Payable (Schedul

Mortgage Notes Payable (Scheduled Principal Payments of Mortgage Notes Payable) (Details)	Mar. 31, 2016USD ($)
Debt Instrument [Line Items]
2,016	$ 8,002,664
2,017	3,525,830
2,018	7,507,042
2,019	9,847,881
2,020	4,666,429
Thereafter	115,387,974
Total	148,937,820
NetREIT Inc [Member]
Debt Instrument [Line Items]
2,016	6,911,373
2,017	1,793,725
2,018	6,002,953
2,019	2,908,937
2,020	2,276,108
Thereafter	115,387,974
Total	135,281,070
Model Home [Member]
Debt Instrument [Line Items]
2,016	1,091,291
2,017	1,732,105
2,018	1,504,089
2,019	6,938,944
2,020	2,390,321
Total	$ 13,656,750

Mortgage Notes Payable - Additi

Mortgage Notes Payable - Additional Information (Details) - Waterman Plaza [Member] - USD ($)	Apr. 29, 2016	Mar. 31, 2016
Scenario Two [Member]
Debt Instrument [Line Items]
Loan basis spread on variable rate		the one year LIBOR Rate plus three hundred (300) basis points.
Subsequent Event
Debt Instrument [Line Items]
Principal balance on the loan	$ 4,000,000
Maturity date	Apr. 29, 2021
Subsequent Event | Scenario One [Member]
Debt Instrument [Line Items]
Loan interest rate	4.25%

Series B Mandatorily Redeemab40

Series B Mandatorily Redeemable Preferred Stock (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Interest expense	$ 3,388,602	$ 2,379,592
Scheduled payments due in 2017	16,600,000
Scheduled payments due in 2018	$ 18,400,000
Redeemable Convertible Preferred Stock Series B
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Preferred stock shares issued (in shares)	35,000		35,000
Preferred stock, par or stated value (in dollars per share)	$ 0.01		$ 0.01
Liquidation preference per share (in dollars per share)	$ 1,000		$ 1,000
Deferred financing costs	$ 3,100,000
Interest expense	$ 254,000	$ 230,000
Redeemable Convertible Preferred Stock Series B | Minimum [Member]
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Financial Instruments Subject to Mandatory Redemption, Return On Funds Invested	14.00%

Stockholders' Equity (Common an

Stockholders' Equity (Common and Preferred Stock) (Details)	3 Months Ended	63 Months Ended
	Mar. 31, 2016Vote$ / sharesshares	Dec. 31, 2011$ / sharesshares	Dec. 31, 2015$ / sharesshares
Private Placement [Member]
Common Stock [Abstract]
Sale of Stock, Number of Shares Issued in Transaction		20,000,000
Sale of Stock, Price Per Share | $ / shares		$ 10
Preferred Stock [Member]
Preferred Stock [Abstract]
Preferred shares authorized (in shares)	8,990,000
Common Class A [Member]
Common Stock [Abstract]
Common stock, shares authorized (in shares)	100,000,000		100,000,000
Par value (in dollars per share) | $ / shares	$ 0.01		$ 0.01
Common stock shares issued (in shares)	17,268,323		17,202,228
Number of votes holder is entitled to | Vote	1
Maximum individual common stock ownership (in hundredths)	9.80%
Common Class B [Member]
Common Stock [Abstract]
Common stock, shares authorized (in shares)	1,000
Par value (in dollars per share) | $ / shares	$ 0.01
Common stock shares issued (in shares)	0
Number of votes holder is entitled to | Vote	1
Maximum individual common stock ownership (in hundredths)	9.80%

Stockholders' Equity (Dividends

Stockholders' Equity (Dividends) (Details) - USD ($)	Jan. 23, 2012	Mar. 31, 2016	Mar. 31, 2015
Cash Dividends [Abstract]
Cash dividends paid, net of reinvested stock dividends		$ 1,065,000	$ 997,000
Annualized dividend rate (in dollars per share)		$ 0.40
Dividend Reinvestment Plan [Abstract]
Registered shares of common stock pursuant to dividend reinvestment plan (in shares)	1,500,000
Percentage of purchase price per share (in hundredths)	95.00%
Former sales price per share (in dollars per share)	$ 9.50
Payment of sales commission or dealer manager fee	$ 0
Notice period for amendments to Dividend Reinvestment Plan		30 days
Common stock issued under dividend reinvestment plan		$ 14,600,000
Common stock issued under dividend reinvestment plan (in shares)		1,533,000

Related Party Transaction (Narr

Related Party Transaction (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Pacific Oaks Plaza [Member] | Chairman and Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Rent revenue from entities 100% owned by the Company’s Chairman and Chief Executive Officer	$ 7,000	$ 7,000

Segments (Net Operating Income

Segments (Net Operating Income by Segment) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net Operating Income [Abstract]
Rental income	$ 8,251,068	$ 5,343,684
Property and related expenses	(2,473,351)	(1,939,589)
Net operating income, as defined	5,984,223	3,473,314
General and administrative expenses	(1,298,959)	(1,154,801)
Depreciation and amortization	(2,659,531)	(1,861,546)
Interest expense	(3,388,602)	(2,379,592)
Interest income	21,739	14,604
Gain on sale of real estate	175,486	78,496
Net loss	(1,165,644)	(1,829,525)
Industrial Office Properties [Member]
Net Operating Income [Abstract]
Rental income	7,019,176	4,008,818
Property and related expenses	(2,232,590)	(1,580,965)
Net operating income, as defined	4,786,586	2,427,853
Residential Properties [Member]
Net Operating Income [Abstract]
Rental income	388,400	357,903
Property and related expenses	(17,704)	(11,238)
Net operating income, as defined	370,696	346,665
Retail Properties [Member]
Net Operating Income [Abstract]
Rental income	1,049,998	1,015,878
Property and related expenses	(223,057)	(347,385)
Net operating income, as defined	$ 826,941	668,493
Self Storage Properties [Member]
Net Operating Income [Abstract]
Rental income		892,977
Property and related expenses		(862,674)
Net operating income, as defined		$ 30,303

Segments (Assets) (Details)

Segments (Assets) (Details) - USD ($)		Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Segment Reporting Asset Reconciling Item [Line Items]
Land, buildings and improvements, net		$ 248,840,940	$ 238,341,934
Cash and cash equivalents		5,371,721	6,626,423	$ 4,475,600	$ 5,636,002
Other assets, net		6,136,444	5,895,991
TOTAL ASSETS		257,268,849	254,274,393
Significant Reconciling Items [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Other assets, net		3,056,188	9,306,036
Industrial Office Properties [Member] | Operating Segments [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Land, buildings and improvements, net	[1]	180,373,842	181,776,776
TOTAL ASSETS	[2]	191,516,280	187,198,961
Residential Properties [Member] | Operating Segments [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Land, buildings and improvements, net	[1]	20,125,666	13,914,168
TOTAL ASSETS	[2]	20,681,133	14,395,904
Retail Properties [Member] | Operating Segments [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Land, buildings and improvements, net	[1]	35,090,222	35,395,235
TOTAL ASSETS	[2]	$ 36,643,527	$ 36,747,069
[1]	Includes lease intangibles and the land purchase option related to property acquisitions.
[2]	Includes land, buildings and improvements, current receivables, deferred rent receivables and deferred leasing costs and other related intangible assets, all shown on a net basis.

Segments (Capital Expenditures)

Segments (Capital Expenditures) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Abstract]
Capital expenditures and tenant improvements	$ 749,992	$ 1,166,437
Acquisition of operating properties	7,399,545	3,756,740
Total real estate investments	8,149,537	4,923,177
Industrial Office Properties [Member]
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Abstract]
Capital expenditures and tenant improvements	748,800	1,118,854
Residential Properties [Member]
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Abstract]
Acquisition of operating properties	7,399,545	3,756,740
Retail Properties [Member]
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Abstract]
Capital expenditures and tenant improvements	$ 1,192	41,333
Self Storage Properties [Member]
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Abstract]
Capital expenditures and tenant improvements		$ 6,250

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Apr. 29, 2016	Mar. 31, 2016	Apr. 26, 2016
Waterman Plaza [Member] | Scenario Two [Member]
Subsequent Event [Line Items]
Loan basis spread on variable rate		the one year LIBOR Rate plus three hundred (300) basis points.
Yucca Valley Retail Center [Member]
Subsequent Event [Line Items]
Maturity date		Apr. 11, 2025
Havana Parker [Member]
Subsequent Event [Line Items]
Maturity date		Jul. 1, 2016
Subsequent Event | Waterman Plaza [Member]
Subsequent Event [Line Items]
Principal balance on the loan	$ 4,000,000
Maturity date	Apr. 29, 2021
Subsequent Event | Waterman Plaza [Member] | Scenario One [Member]
Subsequent Event [Line Items]
Loan interest rate	4.25%
Subsequent Event | Yucca Valley Retail Center [Member]
Subsequent Event [Line Items]
Asset purchase price			$ 1,250,000
Subsequent Event | Havana Parker [Member]
Subsequent Event [Line Items]
Asset purchase price	$ 3,300,000