Presidio Property Trust (SQFT) 10-Q 9 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 08, 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		17,382,264
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,016
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Real estate assets and lease intangibles:
Land	$ 50,122,792	$ 49,965,418
Buildings and improvements	184,971,050	177,360,584
Tenant improvements	21,063,947	19,876,549
Lease intangibles	13,811,291	13,845,100
Real estate assets and lease intangibles, cost	269,969,080	261,047,651
Accumulated depreciation and amortization	(33,966,257)	(29,961,472)
Real estate assets and lease intangibles, net	236,002,823	231,086,179
Cash and cash equivalents	4,703,000	6,626,423
Restricted cash	3,766,913	6,759,786
Deferred leasing costs, net	1,824,555	1,483,014
Goodwill	2,423,000	2,423,000
Other assets, net	5,550,102	5,895,991
TOTAL ASSETS	254,270,393	254,274,393
Liabilities:
Mortgage notes payable, net	152,721,661	142,638,401
Accounts payable and accrued liabilities	6,838,627	7,458,761
Accrued real estate taxes	1,927,884	2,401,770
Dividends payable	1,155,498	1,063,454
Below-market leases, net	1,808,531	2,154,479
Total liabilities	196,306,870	189,110,736
Commitments and contingencies
Equity:
Additional paid-in capital	148,451,070	146,712,853
Dividends in excess of accumulated losses	(103,061,517)	(93,821,328)
Total stockholders' equity before noncontrolling interest	45,563,376	53,063,548
Noncontrolling interest	12,400,147	12,100,109
Total equity	57,963,523	65,163,657
TOTAL LIABILITIES AND EQUITY	254,270,393	254,274,393
Redeemable Convertible Preferred Stock Series B [Member]
Liabilities:
Mandatorily redeemable Series B Preferred Stock, net, $0.01 par value, $1,000 liquidating preference; shares authorized: 35,000; 32,700 and 35,000 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively, net	31,854,669	33,393,871
Common Class A [Member]
Equity:
Common stock series A, $0.01 par value, shares authorized: 100,000,000; 17,382,264 and 17,202,228 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively	$ 173,823	$ 172,023

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Redeemable Convertible Preferred Stock Series B [Member]
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)	32,700	35,000
Preferred stock shares outstanding (in shares)	32,700	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)	17,382,264	17,202,228
Common stock shares outstanding (in shares)	17,382,264	17,202,228

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues:
Rental income	$ 7,693,017	$ 6,007,567	$ 23,602,360	$ 16,747,951
Fee and other income	160,616	104,035	489,565	327,745
Total revenues	7,853,633	6,111,602	24,091,925	17,075,696
Costs and expenses:
Rental operating costs	2,576,781	1,902,454	7,635,145	5,742,548
General and administrative	1,252,299	1,167,374	3,715,029	3,308,560
Depreciation and amortization	2,564,211	1,884,193	7,723,372	5,560,525
Total costs and expenses	6,393,291	4,954,021	19,073,546	14,611,633
Other income (expense):
Interest expense-Series B preferred stock	(1,443,960)	(1,160,106)	(4,546,687)	(2,924,697)
Interest expense-mortgage notes	(1,879,780)	(1,470,631)	(5,641,296)	(4,361,654)
Interest and other income	9,892	26,220	78,224	61,976
Gain on sales of real estate	732,908	10,858	2,121,453	1,205,612
Impairment of real estate asset	(700,000)		(700,000)
Income tax expense	(87,898)	(14,340)	(232,598)	(167,068)
Total other expense, net	(3,368,838)	(2,607,999)	(8,920,904)	(6,185,831)
Loss from continuing operations	(1,908,496)	(1,450,418)	(3,902,525)	(3,721,768)
Gain on the sale of real estate				4,730,398
Loss from discontinued operations, net				(131,375)
Income from discontinued operations				4,599,023
Net (loss) income	(1,908,496)	(1,450,418)	(3,902,525)	877,255
Less: Income attributable to noncontrolling interests	(81,534)	(96,116)	(102,890)	(1,414,642)
Net loss attributable to NetREIT, Inc. common stockholders	$ (1,990,030)	$ (1,546,534)	$ (4,005,415)	$ (537,387)
Basic and diluted loss per common share
Continuing operations	$ (0.11)	$ (0.08)	$ (0.23)	$ (0.22)
Discontinued operations				0.27
Loss per common share	$ (0.11)	$ (0.09)	$ (0.23)	$ (0.03)
Weighted average number of common shares outstanding - basic and diluted	17,353,033	17,073,986	17,286,439	16,979,533

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Changes in Equity (Unaudited) - 9 months ended Sep. 30, 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	(3,902,525)			(4,005,415)	(4,005,415)	102,890
Dividends declared/reinvested (in shares)		190,661
Dividends declared/reinvested, value	(3,439,734)	$ 1,906	1,793,134	(5,234,774)	(3,439,734)
Common stock repurchased (in shares)		(10,625)
Common stock repurchased, value	(55,023)	$ (106)	(54,917)		(55,023)
Contributions received from noncontrolling interests, net of distributions paid	197,148					197,148
Ending balance (in shares) at Sep. 30, 2016		17,382,264
Ending balance at Sep. 30, 2016	$ 57,963,523	$ 173,823	$ 148,451,070	$ (103,061,517)	$ 45,563,376	$ 12,400,147

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net (loss) income	$ (3,902,525)	$ 877,255
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization from continuing operations	7,723,372	5,560,525
Depreciation and amortization from discontinued operations		165,646
Stock compensation	388,602	350,014
Bad debt expense	(54,405)
Gain on sale of real estate assets, net	(2,121,453)	(5,936,010)
Impairment of real estate asset	700,000
Amortization of financing costs	1,081,520	941,836
Amortization of above-market leases	139,417	161,163
Amortization of below-market leases	(345,948)	(94,196)
Changes in operating assets and liabilities:
Other assets	339,618	(696,214)
Accounts payable and accrued liabilities	303,042	495,730
Accrued real estate taxes	(473,886)	217,193
Net cash provided by operating activities	3,777,354	2,042,942
Cash flows from investing activities:
Real estate acquisitions	(15,774,855)	(42,528,263)
Buildings and tenant improvements	(3,713,626)	(2,354,988)
Additions to deferred leasing costs	(710,721)	(332,927)
Proceeds received from sale of real estate assets	8,560,357	37,101,304
Restricted cash	2,992,873	(2,502,108)
Net cash used in investing activities	(8,645,972)	(10,616,982)
Cash flows from financing activities:
Proceeds from mortgage notes payable, net of issuance costs	18,979,585	33,277,918
Repayment of mortgage notes payable	(9,217,047)	(29,723,904)
Repayment of mandatorily redeemable preferred stock	(2,300,000)
Proceeds from issuance of common stock		49,999
Proceeds from issuance of mandatorily redeemable preferred stock, net of offering costs		13,400,000
Contributions received from noncontrolling interests in excess of distributions paid	197,148	(63,359)
Repurchase of common stock	(55,023)	(147,774)
Series B accrued interest	(1,311,778)	583,189
Dividends paid to stockholders	(3,347,690)	(3,291,978)
Net cash provided by financing activities	2,945,195	14,084,091
Net (decrease) increase in cash and cash equivalents	(1,923,423)	5,510,051
Cash and cash equivalents - beginning of period	6,626,423	5,636,002
Cash and cash equivalents - end of period	4,703,000	11,146,053
Supplemental disclosure of cash flow information:
Interest paid Series B preferred stock	5,080,417	2,244,411
Interest paid-mortgage notes payable	5,449,481	4,542,269
Non-cash investing and financing activities:
Reinvestment of cash dividends	1,795,040	2,009,916
Accrual of dividends payable	$ 1,155,498	$ 1,063,454

Organization

Organization	9 Months Ended
	Sep. 30, 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: • Seventeen office buildings and two industrial properties (“Office/Industrial Properties”) which total approximately 1,500,000 rentable square feet, • Six retail shopping centers (“Retail Properties”) which total approximately 236,000 rentable square feet, and • Ninety-three 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 two limited partnerships (NetREIT Palm Self-Storage LP and NetREIT Casa Grande LP), all with ownership in real estate income producing properties. The Company refers to these entities collectively, as the “NetREIT Partnerships”. In June 2016, the Company purchased the 5.99% outside interest in NetREIT Garden Gateway LP. • 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 and nine months ending September 30, 2016. 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 tax deprecation methods used to compute the carrying value (basis) on the investments in properties for tax purposes, among other things. During the nine months ended September 30, 2016 and 2015, all distributions paid were considered return of capital to the stockholders as we reported a taxable net loss during the period. 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	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 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 8 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 nine months ended September 30, 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. Asset Impairments. We review the carrying value of each of our real estate properties quarterly to determine if circumstances indicate an impairment in the carrying value of these investments exists. During the three months ended September 30, 2016, management estimated that the fair market value of World Plaza property was below the carrying value and an impairment of approximately $700,000 was recorded. 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.

Recent Real Estate Transactions

Recent Real Estate Transactions	9 Months Ended
	Sep. 30, 2016
Real Estate [Abstract]
Recent Real Estate Transactions	3. RECENT REAL ESTATE TRANSACTIONS During the nine months ended September 30, 2016, the Company acquired forty-six Model Home properties in Texas, Utah and Florida and leased them back to the homebuilders. The purchase price for the properties was $15.8 million. The purchase price was paid through cash payments of $4.8 million and promissory notes of $11.0 million. The Company allocated the purchase price of the properties acquired during the nine months ended September 30, 2016 as follows: Buildings Total Land and Other Purchase Model Homes Properties $ 2,142,195 $ 13,632,660 $ 15,774,855 During the nine months ended September 30, 2016, the Company disposed of seventeen Model Home properties. The sales price aggregated to approximately $5.1 million and approximately $1.8 million in mortgage notes payable were repaid in connection with these sales. The Company recognized a gain of $622,000 related to the sale of these Model Homes. On July 15, 2016, the Company sold the Havana Parker Complex for approximately $3.3 million and recognized a gain of approximately $668,000. On June 7, 2016, the Company sold a parcel of land and its building at the Yucca Valley Retail Center for approximately $1.3 million and recognized a gain of approximately $831,000. During the nine months ended September 30, 2015, the Company disposed of five Model Home properties. The sales price aggregated to approximately $1.5 million and approximately $702,000 in mortgage notes payable were repaid in connection with these sales. The Company recognized a gain of $156,000 related to the sale of these Model Homes. On April 10, 2015, the Company sold 100% of the Sparky’s Self-Storage Portfolio. The net sales price was approximately $34 million and approximately $16.9 million in mortgage notes payable were repaid in connection the sale. The Company recognized a gain on sale of approximately $4.7 million. On April 24, 2015, the Company sold a parcel of land and its building at the Yucca Valley Retail Center for approximately $1.5 million and recognized a gain of approximately $1.0 million.

Real Estate Assets

Real Estate Assets	9 Months Ended
	Sep. 30, 2016
Real Estate Assets [Abstract]
Real Estate Assets	4. REAL ESTATE ASSETS A summary of the properties owned by the Company as of September 30, 2016 is as follows: Real estate Date assets, net Property Name Acquired Location (in thousands) Garden Gateway Plaza March 2007 Colorado Springs, Colorado 11,608 World Plaza September 2007 San Bernardino, California 5,805 Regatta Square October 2007 Denver, Colorado 1,832 Executive Office Park July 2008 Colorado Springs, Colorado 8,210 Waterman Plaza August 2008 San Bernardino, California 5,786 Pacific Oaks Plaza September 2008 Escondido, California 4,170 Morena Office Center January 2009 San Diego, California 5,132 Rangewood Medical Office Building March 2009 Colorado Springs, Colorado 2,302 Genesis Plaza August 2010 San Diego, California 8,764 Dakota Bank Buildings May 2011 Fargo, North Dakota 10,237 Yucca Valley Retail Center September 2011 Yucca Valley, California 6,790 Port of San Diego Complex December 2011 San Diego, California 14,205 Shoreline Medical Building May 2012 Half Moon Bay, California 5,821 The Presidio November 2012 Aurora, Colorado 6,669 Bismarck March 2014 Fargo, ND 5,298 Union Terrace Building August 2014 Lakewood, Colorado 8,520 Centennial Tech Center December 2014 Colorado Springs, Colorado 14,361 Arapahoe Service Center December 2014 Centennial, Colorado 11,352 Union Town Center December 2014 Colorado Springs, Colorado 10,639 West Fargo Industrial August 2015 Fargo, North Dakota 7,677 300 N.P. August 2015 Fargo, North Dakota 3,791 Research Parkway August 2015 Colorado Springs, Colorado 2,801 One Parke Center August 2015 Westminster, Colorado 8,583 Highland Court August 2015 Centennial, Colorado 12,679 Shea Center II December 2015 Highlands Ranch, Colorado 24,726 NetREIT, Inc properties 207,758 Model Home properties 2011-2016 AZ, CA, FL, IL, NC, NJ, PA, SC, TX, UT, WI 28,245 Total real estate assets and lease intangibles, net $ 236,003 Geographic Diversification Table The following tables show a list of properties owned as of September 30, 2016, grouped by state where each is located.NetREIT, Inc. properties: State No. of Properties Aggregate Square Feet Approximate % of Square Feet Current Base Rent Approximate % of Aggregate Annual Rent California 8 436,022 25.1 % $ 6,673,885 29.5 % Colorado 13 897,083 51.7 % 12,352,413 54.6 % North Dakota 4 401,461 23.1 % 3,593,589 15.9 % Total 25 1,734,566 100.0 % $ 22,619,887 100.0 % Model Home properties: State No. of Properties Aggregate Square Feet Approximate % of Square Feet Current Base Annual Rent Approximate of Aggregate % Annual Rent Arizona 2 4,618 1.7 % $ 50,220 2.0 % California 2 4,563 1.7 % 42,456 1.7 % Florida 12 35,183 12.9 % 394,800 15.8 % Illinois 4 11,876 4.4 % 130,476 5.2 % New Jersey 4 10,379 3.8 % 101,820 4.1 % North Carolina 1 2,929 1.1 % 16,200 0.7 % Pennsylvania 19 53,194 19.6 % 572,772 23.0 % South Carolina 2 5,193 1.9 % 38,832 1.6 % Texas 42 128,949 47.4 % 987,624 39.6 % Utah 3 9,918 3.6 % 99,816 4.0 % Wisconsin 2 5,016 1.8 % 55,992 2.2 % Total 93 271,818 100.0 % $ 2,491,008 100.0 %

Lease Intangibles

Lease Intangibles	9 Months Ended
	Sep. 30, 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: September 30, 2016 December 31, 2015 Lease Intangibles Accumulated Amortization Lease Intangibles, net Lease Intangibles Accumulated Amortization Lease Intangibles, net In-place leases $ 6,872,980 $ (3,557,650 ) $ 3,315,330 $ 6,903,882 $ (2,647,002 ) $ 4,256,880 Leasing costs 4,813,951 (2,346,219 ) 2,467,732 4,816,858 (1,766,578 ) 3,050,280 Above-market leases 2,124,360 (1,555,179 ) 569,181 2,124,360 (1,415,762 ) 708,598 $ 13,811,291 $ (7,459,048 ) $ 6,352,243 $ 13,845,100 $ (5,829,342 ) $ 8,015,758 The net value of acquired intangible liabilities was $1,808,531 and $2,154,479 relating to below-market leases as of September 30, 2016 and December 31, 2015, respectively. Aggregate approximate amortization expense for the Company's lease intangible assets is as follows: Three months remaining in 2016 $ 490,377 Years ending December 31: 2017 1,652,598 2018 1,132,151 2019 913,421 2020 708,769 Thereafter 1,454,927 Total $ 6,352,243 The weighted average amortization of the intangible assets as of September 30, 2016 is 4.0 years.

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2016
Other Assets [Abstract]
Other Assets	6. OTHER ASSETS Other assets consist of the following: September 30, December 31, 2016 2015 Deferred rent receivable $ 2,711,652 $ 2,097,623 Raw land 900,000 900,000 Prepaid expenses, deposits and other 724,199 758,173 Other intangibles, net 475,857 536,533 Accounts receivable, net 422,020 683,446 Notes receivable 316,374 920,216 Total other assets $ 5,550,102 $ 5,895,991

Mortgage Notes Payable

Mortgage Notes Payable	9 Months Ended
	Sep. 30, 2016
Mortgage Loans On Real Estate [Abstract]
Mortgage Notes Payable	7. MORTGAGE NOTES PAYABLE Mortgage notes payable consisted of the following: Principal as of September 30, December 31, Loan Interest Mortgage note property Notes 2016 2015 Type Rate (1) Maturity Havana/Parker Complex $ - $ 2,500,000 Fixed 6.51 % 7/1/2016 Rangewood Medical Office Building 975,614 1,027,085 Fixed 4.95 % 1/1/2019 Regatta Square 1,158,867 1,183,473 Fixed 4.95 % 1/1/2019 Port of San Diego Complex 9,919,557 10,097,726 Fixed 4.75 % 3/5/2020 Garden Gateway Plaza 6,670,627 6,799,229 Fixed 5.00 % 4/5/2020 West Fargo Industrial 4,451,585 4,500,000 Fixed 4.79 % 8/4/2020 Morena Office Center (2) 2,241,241 2,289,899 Fixed 4.50 % 1/1/2021 Waterman Plaza 3,961,980 - Fixed 4.25 % 4/29/2021 Pacific Oaks Plaza (4) 1,523,796 1,556,891 Fixed 4.50 % 6/1/2021 Shoreline Medical Building (2) 3,633,916 3,727,569 Fixed 5.10 % 6/1/2022 Highland Court 6,862,009 6,958,147 Fixed 3.82 % 8/28/2022 Dakota Bank Buildings 10,721,583 10,825,201 Fixed 4.74 % 7/6/2024 Union Terrace Building 6,583,413 6,600,000 Fixed 4.50 % 9/5/2024 The Presidio 6,000,000 6,000,000 Fixed 4.54 % 12/1/2024 Centennial Tech Center 10,117,383 10,237,591 Fixed 4.34 % 1/5/2025 Arapahoe Service Center 8,500,000 8,500,000 Fixed 4.34 % 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) 4,250,951 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 Bismarck Office Building (6) 4,183,681 3,252,016 Fixed 4.02 % 8/1/2037 Subtotal, NetREIT, Inc. properties 137,033,703 135,640,302 4.71 % Model Home mortgage notes 17,645,554 9,050,268 Fixed (5) 2016-2020 Mortgage Notes Payable $ 154,679,257 $ 144,690,570 Unamortized loan costs (1,957,596 ) (2,052,169 ) Mortgage Notes Payable, net $ 152,721,661 $ 142,638,401 (1) Interest rates as of September 30, 2016. (2) Interest rate subject to resetting on the 6th loan anniversary. (3) Interest rate is subject to reset on July 1, 2018. (4) Interest rate is subject to reset on April 28, 2017. (5) Each Model Home has a standalone mortgage note at interest rates ranging from 3.8% to 5.8% per annum (at September 30, 2016). (6) Interest rate is subject to reset on September 1, 2023 and on September 1, 2030. 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 September 30, 2016: NetREIT, Inc. Model Homes Principal Notes Notes Payable Payments Three months remaining in 2016 $ 468,710 $ 195,219 $ 663,929 Years ending December 31: 2017 1,988,406 1,683,267 $ 3,671,673 2018 6,205,722 1,257,511 $ 7,463,233 2019 3,120,199 12,015,181 $ 15,135,380 2020 2,536,094 2,494,376 $ 5,030,470 Thereafter 122,714,572 - $ 122,714,572 Total $ 137,033,703 $ 17,645,554 $ 154,679,257

Series B Mandatorily Redeemable

Series B Mandatorily Redeemable Preferred Stock	9 Months Ended
	Sep. 30, 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 During the nine months ending September 30, 2016, the Company redeemed 2,300 shares of its Series B preferred stock for $2.3 million. As of September 30, 2016, the remaining outstanding share balance was 32,700. Scheduled payments of $14.3 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	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 2016 and 2015 the Company paid cash dividends, net of reinvested stock dividends, of approximately $3,348,000 and $3,292,000, 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 3,000,000 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 September 30, 2016 approximately $15.7 million or approximately 1,657,454 shares of common stock have been issued under the dividend reinvestment plan to date.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 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 September 30, 2016 and 2015 totaled $7,000 and $7,000, respectively. Rental income recorded for the nine months ended September 30, 2016 and 2015 totaled $21,000 and $21,000, respectively.

Segments

Segments	9 Months Ended
	Sep. 30, 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 inter segment 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 and nine months ended September 30, 2016 and 2015. For the Three Months Ended September 30, For the Nine Months Ended September 30, 2016 2015 2016 2015 Office/Industrial Properties: Rental income $ 6,135,845 $ 4,715,807 $ 19,166,498 $ 13,075,111 Property and related expenses (2,151,461 ) (1,679,926 ) (6,510,789 ) (4,885,154 ) Net operating income, as defined 3,984,384 3,035,881 12,655,709 8,189,957 Residential Properties: Rental income 548,260 414,286 1,555,405 1,117,616 Property and related expenses (25,061 ) (15,530 ) (94,142 ) (50,377 ) Net operating income, as defined 523,199 398,756 1,461,263 1,067,239 Retail Properties: Rental income 1,100,623 981,509 3,277,619 2,952,646 Property and related expenses (331,354 ) (206,998 ) (937,811 ) (876,694 ) Net operating income, as defined 769,269 774,511 2,339,808 2,075,952 Self-Storage Properties (discontinued operations): Rental income - - - 1,052,266 Property and related expenses - - - (1,183,641 ) Net operating income, as defined - - - (131,375 ) Reconciliation to net (loss) income: Total net operating income, as defined, for reportable segments 5,276,852 4,209,148 16,456,780 11,201,773 General and administrative expenses (1,340,197 ) (1,181,714 ) (3,947,627 ) (3,475,628 ) Depreciation and amortization (2,564,211 ) (1,884,193 ) (7,723,372 ) (5,560,525 ) Interest expense (3,323,740 ) (2,630,737 ) (10,187,983 ) (7,286,351 ) Interest income 9,892 26,220 78,224 61,976 Gain on sale of real estate 732,908 10,858 2,121,453 5,936,010 Impairment of real estate (700,000 ) - (700,000 ) - Net (loss) income $ (1,908,496 ) $ (1,450,418 ) $ (3,902,525 ) $ 877,255 September 30, December 31, Assets by Reportable Segment: 2016 2015 Office/Industrial Properties: Land, buildings and improvements, net (1) $ 174,104,070 $ 181,776,776 Total assets (2) $ 179,906,501 $ 187,198,961 Residential Properties: Land, buildings and improvements, net (1) $ 28,245,137 $ 13,914,168 Total assets (2) $ 28,562,498 $ 14,395,904 Retail Properties: Land, buildings and improvements, net (1) $ 33,653,616 $ 35,395,235 Total assets (2) $ 34,573,877 $ 36,747,069 Reconciliation to Total Assets: Total assets for reportable segments $ 243,042,876 $ 238,341,934 Other unallocated assets: Cash and cash equivalents 4,703,000 6,626,423 Other assets, net 6,524,517 9,306,036 Total Assets $ 254,270,393 $ 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 Nine Months Ended September 30, 2016 2015 Office/Industrial Properties: Acquisition of operating properties $ - $ 33,958,263 Capital expenditures and tenant improvements 3,629,586 2,313,655 Residential Properties: Acquisition of operating properties 15,774,855 5,720,000 Retail Properties: Acquisition of retail properties - 2,850,000 Capital expenditures and tenant improvements 84,040 41,333 Totals: Acquisition of operating properties, net 15,774,855 42,528,263 Capital expenditures and tenant improvements 3,713,626 2,354,988 Total real estate investments $ 19,488,481 $ 44,883,251

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	12. SUBSEQUENT EVENTS On October 26, 2016, the Company entered into a purchase and sell agreement to sell its Shoreline Medical Building for $8.2 million. The sale is expected to close during the first quarter of 2017. On November 4,

Significant Accounting Polici19

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 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 8 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 nine months ended September 30, 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.
Asset Impairments	Asset Impairments. We review the carrying value of each of our real estate properties quarterly to determine if circumstances indicate an impairment in the carrying value of these investments exists. During the three months ended September 30, 2016, management estimated that the fair market value of World Plaza property was below the carrying value and an impairment of approximately $700,000 was recorded.
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.

Recent Real Estate Transactio20

Recent Real Estate Transactions (Tables)	9 Months Ended
	Sep. 30, 2016
Real Estate [Abstract]
Properties Acquired and Sold	The Company allocated the purchase price of the properties acquired during the nine months ended September 30, 2016 as follows: Buildings Total Land and Other Purchase Model Homes Properties $ 2,142,195 $ 13,632,660 $ 15,774,855

Real Estate Assets (Tables)

Real Estate Assets (Tables)	9 Months Ended
	Sep. 30, 2016
Real Estate Assets [Abstract]
Real Estate Properties Owned	A summary of the properties owned by the Company as of September 30, 2016 is as follows: Real estate Date assets, net Property Name Acquired Location (in thousands) Garden Gateway Plaza March 2007 Colorado Springs, Colorado 11,608 World Plaza September 2007 San Bernardino, California 5,805 Regatta Square October 2007 Denver, Colorado 1,832 Executive Office Park July 2008 Colorado Springs, Colorado 8,210 Waterman Plaza August 2008 San Bernardino, California 5,786 Pacific Oaks Plaza September 2008 Escondido, California 4,170 Morena Office Center January 2009 San Diego, California 5,132 Rangewood Medical Office Building March 2009 Colorado Springs, Colorado 2,302 Genesis Plaza August 2010 San Diego, California 8,764 Dakota Bank Buildings May 2011 Fargo, North Dakota 10,237 Yucca Valley Retail Center September 2011 Yucca Valley, California 6,790 Port of San Diego Complex December 2011 San Diego, California 14,205 Shoreline Medical Building May 2012 Half Moon Bay, California 5,821 The Presidio November 2012 Aurora, Colorado 6,669 Bismarck March 2014 Fargo, ND 5,298 Union Terrace Building August 2014 Lakewood, Colorado 8,520 Centennial Tech Center December 2014 Colorado Springs, Colorado 14,361 Arapahoe Service Center December 2014 Centennial, Colorado 11,352 Union Town Center December 2014 Colorado Springs, Colorado 10,639 West Fargo Industrial August 2015 Fargo, North Dakota 7,677 300 N.P. August 2015 Fargo, North Dakota 3,791 Research Parkway August 2015 Colorado Springs, Colorado 2,801 One Parke Center August 2015 Westminster, Colorado 8,583 Highland Court August 2015 Centennial, Colorado 12,679 Shea Center II December 2015 Highlands Ranch, Colorado 24,726 NetREIT, Inc properties 207,758 Model Home properties 2011-2016 AZ, CA, FL, IL, NC, NJ, PA, SC, TX, UT, WI 28,245 Total real estate assets and lease intangibles, net $ 236,003
Geographic Locations of Real Estate Properties Owned	The following tables show a list of properties owned as of September 30, 2016, grouped by state where each is located.NetREIT, Inc. properties: State No. of Properties Aggregate Square Feet Approximate % of Square Feet Current Base Rent Approximate % of Aggregate Annual Rent California 8 436,022 25.1 % $ 6,673,885 29.5 % Colorado 13 897,083 51.7 % 12,352,413 54.6 % North Dakota 4 401,461 23.1 % 3,593,589 15.9 % Total 25 1,734,566 100.0 % $ 22,619,887 100.0 % Model Home properties: State No. of Properties Aggregate Square Feet Approximate % of Square Feet Current Base Annual Rent Approximate of Aggregate % Annual Rent Arizona 2 4,618 1.7 % $ 50,220 2.0 % California 2 4,563 1.7 % 42,456 1.7 % Florida 12 35,183 12.9 % 394,800 15.8 % Illinois 4 11,876 4.4 % 130,476 5.2 % New Jersey 4 10,379 3.8 % 101,820 4.1 % North Carolina 1 2,929 1.1 % 16,200 0.7 % Pennsylvania 19 53,194 19.6 % 572,772 23.0 % South Carolina 2 5,193 1.9 % 38,832 1.6 % Texas 42 128,949 47.4 % 987,624 39.6 % Utah 3 9,918 3.6 % 99,816 4.0 % Wisconsin 2 5,016 1.8 % 55,992 2.2 % Total 93 271,818 100.0 % $ 2,491,008 100.0 %

Lease Intangibles (Tables)

Lease Intangibles (Tables)	9 Months Ended
	Sep. 30, 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: September 30, 2016 December 31, 2015 Lease Intangibles Accumulated Amortization Lease Intangibles, net Lease Intangibles Accumulated Amortization Lease Intangibles, net In-place leases $ 6,872,980 $ (3,557,650 ) $ 3,315,330 $ 6,903,882 $ (2,647,002 ) $ 4,256,880 Leasing costs 4,813,951 (2,346,219 ) 2,467,732 4,816,858 (1,766,578 ) 3,050,280 Above-market leases 2,124,360 (1,555,179 ) 569,181 2,124,360 (1,415,762 ) 708,598 $ 13,811,291 $ (7,459,048 ) $ 6,352,243 $ 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: Three months remaining in 2016 $ 490,377 Years ending December 31: 2017 1,652,598 2018 1,132,151 2019 913,421 2020 708,769 Thereafter 1,454,927 Total $ 6,352,243

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2016
Other Assets [Abstract]
Other Assets	Other assets consist of the following: September 30, December 31, 2016 2015 Deferred rent receivable $ 2,711,652 $ 2,097,623 Raw land 900,000 900,000 Prepaid expenses, deposits and other 724,199 758,173 Other intangibles, net 475,857 536,533 Accounts receivable, net 422,020 683,446 Notes receivable 316,374 920,216 Total other assets $ 5,550,102 $ 5,895,991

Mortgage Notes Payable (Tables)

Mortgage Notes Payable (Tables)	9 Months Ended
	Sep. 30, 2016
Mortgage Loans On Real Estate [Abstract]
Mortgage Notes Payable	Mortgage notes payable consisted of the following: Principal as of September 30, December 31, Loan Interest Mortgage note property Notes 2016 2015 Type Rate (1) Maturity Havana/Parker Complex $ - $ 2,500,000 Fixed 6.51 % 7/1/2016 Rangewood Medical Office Building 975,614 1,027,085 Fixed 4.95 % 1/1/2019 Regatta Square 1,158,867 1,183,473 Fixed 4.95 % 1/1/2019 Port of San Diego Complex 9,919,557 10,097,726 Fixed 4.75 % 3/5/2020 Garden Gateway Plaza 6,670,627 6,799,229 Fixed 5.00 % 4/5/2020 West Fargo Industrial 4,451,585 4,500,000 Fixed 4.79 % 8/4/2020 Morena Office Center (2) 2,241,241 2,289,899 Fixed 4.50 % 1/1/2021 Waterman Plaza 3,961,980 - Fixed 4.25 % 4/29/2021 Pacific Oaks Plaza (4) 1,523,796 1,556,891 Fixed 4.50 % 6/1/2021 Shoreline Medical Building (2) 3,633,916 3,727,569 Fixed 5.10 % 6/1/2022 Highland Court 6,862,009 6,958,147 Fixed 3.82 % 8/28/2022 Dakota Bank Buildings 10,721,583 10,825,201 Fixed 4.74 % 7/6/2024 Union Terrace Building 6,583,413 6,600,000 Fixed 4.50 % 9/5/2024 The Presidio 6,000,000 6,000,000 Fixed 4.54 % 12/1/2024 Centennial Tech Center 10,117,383 10,237,591 Fixed 4.34 % 1/5/2025 Arapahoe Service Center 8,500,000 8,500,000 Fixed 4.34 % 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) 4,250,951 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 Bismarck Office Building (6) 4,183,681 3,252,016 Fixed 4.02 % 8/1/2037 Subtotal, NetREIT, Inc. properties 137,033,703 135,640,302 4.71 % Model Home mortgage notes 17,645,554 9,050,268 Fixed (5) 2016-2020 Mortgage Notes Payable $ 154,679,257 $ 144,690,570 Unamortized loan costs (1,957,596 ) (2,052,169 ) Mortgage Notes Payable, net $ 152,721,661 $ 142,638,401 (1) Interest rates as of September 30, 2016. (2) Interest rate subject to resetting on the 6th loan anniversary. (3) Interest rate is subject to reset on July 1, 2018. (4) Interest rate is subject to reset on April 28, 2017. (5) Each Model Home has a standalone mortgage note at interest rates ranging from 3.8% to 5.8% per annum (at September 30, 2016). (6) Interest rate is subject to reset on September 1, 2023 and on September 1, 2030. 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 September 30, 2016: NetREIT, Inc. Model Homes Principal Notes Notes Payable Payments Three months remaining in 2016 $ 468,710 $ 195,219 $ 663,929 Years ending December 31: 2017 1,988,406 1,683,267 $ 3,671,673 2018 6,205,722 1,257,511 $ 7,463,233 2019 3,120,199 12,015,181 $ 15,135,380 2020 2,536,094 2,494,376 $ 5,030,470 Thereafter 122,714,572 - $ 122,714,572 Total $ 137,033,703 $ 17,645,554 $ 154,679,257

Segments (Tables)

Segments (Tables)	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2016 and 2015. For the Three Months Ended September 30, For the Nine Months Ended September 30, 2016 2015 2016 2015 Office/Industrial Properties: Rental income $ 6,135,845 $ 4,715,807 $ 19,166,498 $ 13,075,111 Property and related expenses (2,151,461 ) (1,679,926 ) (6,510,789 ) (4,885,154 ) Net operating income, as defined 3,984,384 3,035,881 12,655,709 8,189,957 Residential Properties: Rental income 548,260 414,286 1,555,405 1,117,616 Property and related expenses (25,061 ) (15,530 ) (94,142 ) (50,377 ) Net operating income, as defined 523,199 398,756 1,461,263 1,067,239 Retail Properties: Rental income 1,100,623 981,509 3,277,619 2,952,646 Property and related expenses (331,354 ) (206,998 ) (937,811 ) (876,694 ) Net operating income, as defined 769,269 774,511 2,339,808 2,075,952 Self-Storage Properties (discontinued operations): Rental income - - - 1,052,266 Property and related expenses - - - (1,183,641 ) Net operating income, as defined - - - (131,375 ) Reconciliation to net (loss) income: Total net operating income, as defined, for reportable segments 5,276,852 4,209,148 16,456,780 11,201,773 General and administrative expenses (1,340,197 ) (1,181,714 ) (3,947,627 ) (3,475,628 ) Depreciation and amortization (2,564,211 ) (1,884,193 ) (7,723,372 ) (5,560,525 ) Interest expense (3,323,740 ) (2,630,737 ) (10,187,983 ) (7,286,351 ) Interest income 9,892 26,220 78,224 61,976 Gain on sale of real estate 732,908 10,858 2,121,453 5,936,010 Impairment of real estate (700,000 ) - (700,000 ) - Net (loss) income $ (1,908,496 ) $ (1,450,418 ) $ (3,902,525 ) $ 877,255
Reconciliation of Assets by Segment to Total Assets	September 30, December 31, Assets by Reportable Segment: 2016 2015 Office/Industrial Properties: Land, buildings and improvements, net (1) $ 174,104,070 $ 181,776,776 Total assets (2) $ 179,906,501 $ 187,198,961 Residential Properties: Land, buildings and improvements, net (1) $ 28,245,137 $ 13,914,168 Total assets (2) $ 28,562,498 $ 14,395,904 Retail Properties: Land, buildings and improvements, net (1) $ 33,653,616 $ 35,395,235 Total assets (2) $ 34,573,877 $ 36,747,069 Reconciliation to Total Assets: Total assets for reportable segments $ 243,042,876 $ 238,341,934 Other unallocated assets: Cash and cash equivalents 4,703,000 6,626,423 Other assets, net 6,524,517 9,306,036 Total Assets $ 254,270,393 $ 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 Nine Months Ended September 30, 2016 2015 Office/Industrial Properties: Acquisition of operating properties $ - $ 33,958,263 Capital expenditures and tenant improvements 3,629,586 2,313,655 Residential Properties: Acquisition of operating properties 15,774,855 5,720,000 Retail Properties: Acquisition of retail properties - 2,850,000 Capital expenditures and tenant improvements 84,040 41,333 Totals: Acquisition of operating properties, net 15,774,855 42,528,263 Capital expenditures and tenant improvements 3,713,626 2,354,988 Total real estate investments $ 19,488,481 $ 44,883,251

Organization (Details)

Organization (Details)	1 Months Ended	9 Months Ended
	Jun. 30, 2016	Sep. 30, 2016ft²PropertyCounterparty_Investment
Real Estate Properties [Line Items]
Number of limited partnerships in which the company is sole General Partner | Counterparty_Investment		2
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 two limited partnerships (NetREIT Palm Self-Storage LP and NetREIT Casa Grande LP), all with ownership in real estate income producing properties. The Company refers to these entities collectively, as the “NetREIT Partnerships”. In June 2016, the Company purchased the 5.99% outside interest in NetREIT Garden Gateway LP. 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.
NetREIT Garden Gateway LP [Member]
Real Estate Properties [Line Items]
Percentage of outside interest purchased by company	5.99%
Office And Industrial Properties [Member]
Real Estate Properties [Line Items]
Number of properties | Property		19
Area of Real Estate Property | ft²		1,500,000
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		93
Number of limited partnerships in which the company is sole General Partner | Counterparty_Investment		4

Significant Accounting Polici27

Significant Accounting Policies (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016
Significant Account Policies [Line Items]
Impairment of real estate asset	$ 700,000	$ 700,000
World Plaza [Member]
Significant Account Policies [Line Items]
Impairment of real estate asset	$ 700,000

Recent Real Estate Transactio28

Recent Real Estate Transactions (Disposals of Properties) (Details)	Jul. 15, 2016USD ($)	Jun. 07, 2016USD ($)	Apr. 24, 2015USD ($)	Apr. 10, 2015USD ($)	Sep. 30, 2016USD ($)Property	Sep. 30, 2015USD ($)Property	Dec. 31, 2015USD ($)
Real Estate Properties [Line Items]
Promissory note issued for property acquired					$ 152,721,661		$ 142,638,401
Yucca Valley Retail Center [Member]
Real Estate Properties [Line Items]
Proceeds from sale of property			$ 1,500,000
Gain (loss) on sale of property			$ 1,000,000
Sparkys Self-Storage Portfolio, Disposal Group [Member]
Real Estate Properties [Line Items]
Proceeds from sale of property				$ 34,000,000
Mortgage notes payable retired				16,900,000
Gain (loss) on sale of property				$ 4,700,000
Percentage of real estate properties sold				100.00%
Residential Properties [Member]
Real Estate Properties [Line Items]
Number of properties | Property					93
Residential Properties [Member] | Forty Six Dubos Model Homes [Member]
Real Estate Properties [Line Items]
Number of properties | Property					46
Purchase price of property acquired					$ 15,774,855
Cash payment for the properties acquired					4,800,000
Promissory note issued for property acquired					$ 11,000,000
Residential Properties [Member] | Seventeen Dubos Model Homes [Member]
Real Estate Properties [Line Items]
Number of properties | Property					17
Proceeds from sale of property					$ 5,100,000
Mortgage notes payable retired					1,800,000
Gain (loss) on sale of property					$ 622,000
Residential Properties [Member] | Havana Parker [Member]
Real Estate Properties [Line Items]
Proceeds from sale of property	$ 3,300,000
Gain (loss) on sale of property	$ 668,000
Residential Properties [Member] | Yucca Valley Retail Center [Member]
Real Estate Properties [Line Items]
Proceeds from sale of property		$ 1,300,000
Gain (loss) on sale of property		$ 831,000
Residential Properties [Member] | Five Dubos Model Homes [Member]
Real Estate Properties [Line Items]
Proceeds from sale of property						$ 1,500,000
Mortgage notes payable retired						702,000
Gain (loss) on sale of property						$ 156,000
Number of properties | Property						5

Recent Real Estate Transactio29

Recent Real Estate Transactions (Acquisitions of Properties) (Details) - Residential Properties [Member] - Forty Six Dubos Model Homes [Member]	Sep. 30, 2016USD ($)
Allocated Purchase Price of Properties Acquired [Abstract]
Land	$ 2,142,195
Buildings and Other	13,632,660
Total purchase price	$ 15,774,855

Real Estate Assets (Summary of

Real Estate Assets (Summary of Properties Owned) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Real Estate And Accumulated Depreciation [Line Items]
Real Estate Assets Owned	$ 236,002,823	$ 231,086,179
Garden Gateway Plaza [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Mar. 1, 2007
Location	Colorado Springs, Colorado
Real Estate Assets Owned	$ 11,608,000
World Plaza [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Sep. 1, 2007
Location	San Bernardino, California
Real Estate Assets Owned	$ 5,805,000
Regatta Square [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Oct. 1, 2007
Location	Denver, Colorado
Real Estate Assets Owned	$ 1,832,000
Executive Office Park [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Jul. 1, 2008
Location	Colorado Springs, Colorado
Real Estate Assets Owned	$ 8,210,000
Waterman Plaza [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Aug. 1, 2008
Location	San Bernardino, California
Real Estate Assets Owned	$ 5,786,000
Pacific Oaks Plaza [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Sep. 1, 2008
Location	Escondido, California
Real Estate Assets Owned	$ 4,170,000
Morena Office Center [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Jan. 1, 2009
Location	San Diego, California
Real Estate Assets Owned	$ 5,132,000
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	$ 2,302,000
Genesis Plaza [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Aug. 1, 2010
Location	San Diego, California
Real Estate Assets Owned	$ 8,764,000
Dakota Bank Buildings [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	May 1, 2011
Location	Fargo, North Dakota
Real Estate Assets Owned	$ 10,237,000
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	$ 6,790,000
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	$ 14,205,000
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	$ 6,669,000
Bismarck Office Building [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Mar. 1, 2014
Location	Fargo, ND
Real Estate Assets Owned	$ 5,298,000
Union Terrace [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Aug. 1, 2014
Location	Lakewood, Colorado
Real Estate Assets Owned	$ 8,520,000
Centennial Tech Center [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Dec. 1, 2014
Location	Colorado Springs, Colorado
Real Estate Assets Owned	$ 14,361,000
Arapahoe Service Center [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Dec. 1, 2014
Location	Centennial, Colorado
Real Estate Assets Owned	$ 11,352,000
Union Town Center [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Dec. 1, 2014
Location	Colorado Springs, Colorado
Real Estate Assets Owned	$ 10,639,000
West Fargo Industrial [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Aug. 1, 2015
Location	Fargo, North Dakota
Real Estate Assets Owned	$ 7,677,000
300 N.P. [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Aug. 1, 2015
Location	Fargo, North Dakota
Real Estate Assets Owned	$ 3,791,000
Research Parkway [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Aug. 1, 2015
Location	Colorado Springs, Colorado
Real Estate Assets Owned	$ 2,801,000
One Parke Center [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Aug. 1, 2015
Location	Westminster, Colorado
Real Estate Assets Owned	$ 8,583,000
Highland Court [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Aug. 1, 2015
Location	Centennial, Colorado
Real Estate Assets Owned	$ 12,679,000
Shea Center II [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Dec. 1, 2015
Location	Highlands Ranch, Colorado
Real Estate Assets Owned	$ 24,726,000
NetREIT, Inc. Properties [Member]
Real Estate And Accumulated Depreciation [Line Items]
Real Estate Assets Owned	207,758,000
Model Home Properties [Member]
Real Estate And Accumulated Depreciation [Line Items]
Real Estate Assets Owned	$ 28,245,000
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 (Geographic

Real Estate Assets (Geographic Locations of Real Estate Properties Owned) (Details)	9 Months Ended
	Sep. 30, 2016USD ($)ft²Property
NetREIT, Inc. Properties [Member]
Real Estate Properties [Line Items]
Number of properties | Property	25
Aggregate Square Feet | ft²	1,734,566
Approximate % of Square Feet	100.00%
Current Base Annual Rent | $	$ 22,619,887
Approximate of Aggregate % Annual Rent	100.00%
NetREIT, Inc. Properties [Member] | California [Member]
Real Estate Properties [Line Items]
Number of properties | Property	8
Aggregate Square Feet | ft²	436,022
Approximate % of Square Feet	25.10%
Current Base Annual Rent | $	$ 6,673,885
Approximate of Aggregate % Annual Rent	29.50%
NetREIT, Inc. Properties [Member] | Colorado [Member]
Real Estate Properties [Line Items]
Number of properties | Property	13
Aggregate Square Feet | ft²	897,083
Approximate % of Square Feet	51.70%
Current Base Annual Rent | $	$ 12,352,413
Approximate of Aggregate % Annual Rent	54.60%
NetREIT, Inc. Properties [Member] | North Dakota [Member]
Real Estate Properties [Line Items]
Number of properties | Property	4
Aggregate Square Feet | ft²	401,461
Approximate % of Square Feet	23.10%
Current Base Annual Rent | $	$ 3,593,589
Approximate of Aggregate % Annual Rent	15.90%
Model Home Properties [Member]
Real Estate Properties [Line Items]
Number of properties | Property	93
Aggregate Square Feet | ft²	271,818
Approximate % of Square Feet	100.00%
Current Base Annual Rent | $	$ 2,491,008
Approximate of Aggregate % Annual Rent	100.00%
Model Home Properties [Member] | Arizona [Member]
Real Estate Properties [Line Items]
Number of properties | Property	2
Aggregate Square Feet | ft²	4,618
Approximate % of Square Feet	1.70%
Current Base Annual Rent | $	$ 50,220
Approximate of Aggregate % Annual Rent	2.00%
Model Home Properties [Member] | California [Member]
Real Estate Properties [Line Items]
Number of properties | Property	2
Aggregate Square Feet | ft²	4,563
Approximate % of Square Feet	1.70%
Current Base Annual Rent | $	$ 42,456
Approximate of Aggregate % Annual Rent	1.70%
Model Home Properties [Member] | Florida [Member]
Real Estate Properties [Line Items]
Number of properties | Property	12
Aggregate Square Feet | ft²	35,183
Approximate % of Square Feet	12.90%
Current Base Annual Rent | $	$ 394,800
Approximate of Aggregate % Annual Rent	15.80%
Model Home Properties [Member] | Illinois [Member]
Real Estate Properties [Line Items]
Number of properties | Property	4
Aggregate Square Feet | ft²	11,876
Approximate % of Square Feet	4.40%
Current Base Annual Rent | $	$ 130,476
Approximate of Aggregate % Annual Rent	5.20%
Model Home Properties [Member] | New Jersey [Member]
Real Estate Properties [Line Items]
Number of properties | Property	4
Aggregate Square Feet | ft²	10,379
Approximate % of Square Feet	3.80%
Current Base Annual Rent | $	$ 101,820
Approximate of Aggregate % Annual Rent	4.10%
Model Home Properties [Member] | North Carolina [Member]
Real Estate Properties [Line Items]
Number of properties | Property	1
Aggregate Square Feet | ft²	2,929
Approximate % of Square Feet	1.10%
Current Base Annual Rent | $	$ 16,200
Approximate of Aggregate % Annual Rent	0.70%
Model Home Properties [Member] | Pennsylvania [Member]
Real Estate Properties [Line Items]
Number of properties | Property	19
Aggregate Square Feet | ft²	53,194
Approximate % of Square Feet	19.60%
Current Base Annual Rent | $	$ 572,772
Approximate of Aggregate % Annual Rent	23.00%
Model Home Properties [Member] | South Carolina [Member]
Real Estate Properties [Line Items]
Number of properties | Property	2
Aggregate Square Feet | ft²	5,193
Approximate % of Square Feet	1.90%
Current Base Annual Rent | $	$ 38,832
Approximate of Aggregate % Annual Rent	1.60%
Model Home Properties [Member] | Texas [Member]
Real Estate Properties [Line Items]
Number of properties | Property	42
Aggregate Square Feet | ft²	128,949
Approximate % of Square Feet	47.40%
Current Base Annual Rent | $	$ 987,624
Approximate of Aggregate % Annual Rent	39.60%
Model Home Properties [Member] | Utah [Member]
Real Estate Properties [Line Items]
Number of properties | Property	3
Aggregate Square Feet | ft²	9,918
Approximate % of Square Feet	3.60%
Current Base Annual Rent | $	$ 99,816
Approximate of Aggregate % Annual Rent	4.00%
Model Home Properties [Member] | Wisconsin [Member]
Real Estate Properties [Line Items]
Number of properties | Property	2
Aggregate Square Feet | ft²	5,016
Approximate % of Square Feet	1.80%
Current Base Annual Rent | $	$ 55,992
Approximate of Aggregate % Annual Rent	2.20%

Lease Intangibles (Net Value of

Lease Intangibles (Net Value of Other Intangible Assets and Amortization by Class) (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Finite Lived Intangible Assets [Line Items]
Lease intangibles	$ 13,811,291	$ 13,845,100
Accumulated amortization	(7,459,048)	(5,829,342)
Lease intangibles, net	6,352,243	8,015,758
Leases, Acquired-in-Place [Member]
Finite Lived Intangible Assets [Line Items]
Lease intangibles	6,872,980	6,903,882
Accumulated amortization	(3,557,650)	(2,647,002)
Lease intangibles, net	3,315,330	4,256,880
Leasing Cost [Member]
Finite Lived Intangible Assets [Line Items]
Lease intangibles	4,813,951	4,816,858
Accumulated amortization	(2,346,219)	(1,766,578)
Lease intangibles, net	2,467,732	3,050,280
Above Market Leases [Member]
Finite Lived Intangible Assets [Line Items]
Lease intangibles	2,124,360	2,124,360
Accumulated amortization	(1,555,179)	(1,415,762)
Lease intangibles, net	$ 569,181	$ 708,598

Lease Intangibles - Additional

Lease Intangibles - Additional Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Finite Lived Intangible Assets [Line Items]
Below-market leases, net	$ 1,808,531	$ 2,154,479
Weighted average [Member]
Finite Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Remaining Amortization Period	4 years

Lease Intangibles (Amortization

Lease Intangibles (Amortization Expense for the Company Lease Intangible Assets) (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Three months remaining in 2016	$ 490,377
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	$ 6,352,243	$ 8,015,758

Other Assets (Details)

Other Assets (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Other Assets [Line Items]
Raw land	$ 50,122,792	$ 49,965,418
Other intangibles, net	475,857	536,533
Total other assets	5,550,102	5,895,991
Other Assets [Member]
Other Assets [Line Items]
Deferred rent receivable	2,711,652	2,097,623
Raw land	900,000	900,000
Prepaid expenses, deposits and other	724,199	758,173
Accounts receivable, net	422,020	683,446
Notes receivable	$ 316,374	$ 920,216

Mortgage Notes Payable (Details

Mortgage Notes Payable (Details) - USD ($)		9 Months Ended
		Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Mortgage notes payable		$ 154,679,257	$ 144,690,570
Unamortized loan costs		(1,957,596)	(2,052,169)
Mortgage notes payable, net		$ 152,721,661	142,638,401
Havana Parker [Member]
Debt Instrument [Line Items]
Mortgage notes payable			2,500,000
Fixed interest rate on mortgage (in hundredths)	[1]	6.51%
Maturity date		Jul. 1, 2016
Bismarck Office Building [Member]
Debt Instrument [Line Items]
Mortgage notes payable	[2]	$ 4,183,681	3,252,016
Fixed interest rate on mortgage (in hundredths)	[1],[2]	4.02%
Maturity date	[2]	Aug. 1, 2037
Rangewood Medical Office Building [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 975,614	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		$ 1,158,867	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		$ 9,919,557	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		$ 6,670,627	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		$ 4,451,585	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	[3]	$ 2,241,241	2,289,899
Fixed interest rate on mortgage (in hundredths)	[1],[3]	4.50%
Maturity date	[3]	Jan. 1, 2021
Waterman Plaza [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 3,961,980
Fixed interest rate on mortgage (in hundredths)	[1]	4.25%
Maturity date		Apr. 29, 2021
Pacific Oaks Plaza [Member]
Debt Instrument [Line Items]
Mortgage notes payable	[4]	$ 1,523,796	1,556,891
Fixed interest rate on mortgage (in hundredths)	[1],[4]	4.50%
Maturity date	[4]	Jun. 1, 2021
Shoreline Medical Building [Member]
Debt Instrument [Line Items]
Mortgage notes payable	[3]	$ 3,633,916	3,727,569
Fixed interest rate on mortgage (in hundredths)	[1],[3]	5.10%
Maturity date	[3]	Jun. 1, 2022
Highland Court [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 6,862,009	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		$ 10,721,583	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		$ 6,583,413	6,600,000
Fixed interest rate on mortgage (in hundredths)	[1]	4.50%
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		$ 10,117,383	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]	4.34%
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	[5]	$ 4,250,951	4,307,975
Fixed interest rate on mortgage (in hundredths)	[1],[5]	5.80%
Maturity date	[5]	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		$ 137,033,703	135,640,302
Fixed interest rate on mortgage (in hundredths)	[1]	4.71%
Model Home Properties [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 17,645,554	$ 9,050,268
Model Home Properties [Member] | Minimum [Member]
Debt Instrument [Line Items]
Fixed interest rate on mortgage (in hundredths)		3.80%
Maturity date	[6]	Jan. 1, 2016
Model Home Properties [Member] | Maximum [Member]
Debt Instrument [Line Items]
Fixed interest rate on mortgage (in hundredths)		5.80%
Maturity date	[6]	Jan. 1, 2020
[1]	Interest rates as of September 30, 2016.
[2]	Interest rate is subject to reset on September 1, 2023 and on September 1, 2030.
[3]	Interest rate subject to resetting on the 6th loan anniversary.
[4]	Interest rate is subject to reset on April 28, 2017.
[5]	Interest rate is subject to reset on July 1, 2018
[6]	Each Model Home has a standalone mortgage note at interest rates ranging from 3.8% to 5.8% per annum (at September 30, 2016).

Mortgage Notes Payable (Parenth

Mortgage Notes Payable (Parenthetical) (Details)	9 Months Ended
	Sep. 30, 2016
Morena Office Center [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate Terms	Interest rate subject to resetting on the 6th loan anniversary.
Fixed interest rate on mortgage (in hundredth)	4.50%	[1],[2]
Shoreline Medical Building [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate Terms	Interest rate subject to resetting on the 6th loan anniversary.
Fixed interest rate on mortgage (in hundredth)	5.10%	[1],[2]
Executive Office Park [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate Terms	Interest rate is subject to reset on July 1, 2018
Fixed interest rate on mortgage (in hundredth)	5.80%	[2],[3]
Pacific Oaks Plaza [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate Terms	Interest rate is subject to reset on April 28, 2017
Fixed interest rate on mortgage (in hundredth)	4.50%	[2],[4]
Model Home Properties [Member] | Minimum [Member]
Debt Instrument [Line Items]
Fixed interest rate on mortgage (in hundredth)	3.80%
Model Home Properties [Member] | Maximum [Member]
Debt Instrument [Line Items]
Fixed interest rate on mortgage (in hundredth)	5.80%
Bismarck Office Building [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate Terms	Interest rate is subject to reset on September 1, 2023 and on September 1, 2030.
Fixed interest rate on mortgage (in hundredth)	4.02%	[2],[5]
[1]	Interest rate subject to resetting on the 6th loan anniversary.
[2]	Interest rates as of September 30, 2016.
[3]	Interest rate is subject to reset on July 1, 2018
[4]	Interest rate is subject to reset on April 28, 2017.
[5]	Interest rate is subject to reset on September 1, 2023 and on September 1, 2030.

Mortgage Notes Payable (Schedul

Mortgage Notes Payable (Scheduled Principal Payments of Mortgage Notes Payable) (Details)	Sep. 30, 2016USD ($)
Debt Instrument [Line Items]
Three months remaining in 2016	$ 663,929
2,017	3,671,673
2,018	7,463,233
2,019	15,135,380
2,020	5,030,470
Thereafter	122,714,572
Total	154,679,257
NetREIT Inc [Member]
Debt Instrument [Line Items]
Three months remaining in 2016	468,710
2,017	1,988,406
2,018	6,205,722
2,019	3,120,199
2,020	2,536,094
Thereafter	122,714,572
Total	137,033,703
Model Home [Member]
Debt Instrument [Line Items]
Three months remaining in 2016	195,219
2,017	1,683,267
2,018	1,257,511
2,019	12,015,181
2,020	2,494,376
Total	$ 17,645,554

Series B Mandatorily Redeemab39

Series B Mandatorily Redeemable Preferred Stock (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Interest expense	$ 3,323,740	$ 2,630,737	$ 10,187,983	$ 7,286,351
Scheduled payments due in 2017	14,300,000		14,300,000
Scheduled payments due in 2018	$ 18,400,000		$ 18,400,000
Redeemable Convertible Preferred Stock Series B [Member]
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Preferred stock shares issued (in shares)	32,700		32,700		35,000
Preferred stock, par or stated value (in dollars per share)	$ 0.01		$ 0.01		$ 0.01
Liquidation preference per share (in dollars per share)	$ 1,000		$ 1,000		$ 1,000
Deferred financing costs	$ 3,100,000		$ 3,100,000
Interest expense	254,000	$ 241,000	508,000	$ 700,000
Total unamortized deferred stock costs	$ 845,000		$ 845,000		$ 1,600,000
Number of shares redeemed			2,300
Number of shares redeemed, value			$ 2,300,000
Preferred stock shares outstanding (in shares)	32,700		32,700		35,000
Redeemable Convertible Preferred Stock Series B [Member] | 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%		14.00%

Stockholders' Equity (Common an

Stockholders' Equity (Common and Preferred Stock) (Details)	9 Months Ended	63 Months Ended
	Sep. 30, 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)	17,382,264		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	Sep. 30, 2016	Sep. 30, 2015
Cash Dividends [Abstract]
Cash dividends paid, net of reinvested stock dividends		$ 3,348,000	$ 3,292,000
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)	3,000,000
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		$ 15,700,000
Common stock issued under dividend reinvestment plan (in shares)		1,657,454

Related Party Transaction (Narr

Related Party Transaction (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 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	$ 21,000	$ 21,000

Segments (Net Operating Income

Segments (Net Operating Income by Segment) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Net Operating Income [Abstract]
Rental income	$ 7,693,017	$ 6,007,567	$ 23,602,360	$ 16,747,951
Property and related expenses	(2,576,781)	(1,902,454)	(7,635,145)	(5,742,548)
Net operating income, as defined	5,276,852	4,209,148	16,456,780	11,201,773
General and administrative expenses	(1,340,197)	(1,181,714)	(3,947,627)	(3,475,628)
Depreciation and amortization	(2,564,211)	(1,884,193)	(7,723,372)	(5,560,525)
Interest expense	(3,323,740)	(2,630,737)	(10,187,983)	(7,286,351)
Interest income	9,892	26,220	78,224	61,976
Gain on sale of real estate	732,908	10,858	2,121,453	5,936,010
Impairment of real estate	(700,000)		(700,000)
Net (loss) income	(1,908,496)	(1,450,418)	(3,902,525)	877,255
Industrial Office Properties [Member]
Net Operating Income [Abstract]
Rental income	6,135,845	4,715,807	19,166,498	13,075,111
Property and related expenses	(2,151,461)	(1,679,926)	(6,510,789)	(4,885,154)
Net operating income, as defined	3,984,384	3,035,881	12,655,709	8,189,957
Residential Properties [Member]
Net Operating Income [Abstract]
Rental income	548,260	414,286	1,555,405	1,117,616
Property and related expenses	(25,061)	(15,530)	(94,142)	(50,377)
Net operating income, as defined	523,199	398,756	1,461,263	1,067,239
Retail Properties [Member]
Net Operating Income [Abstract]
Rental income	1,100,623	981,509	3,277,619	2,952,646
Property and related expenses	(331,354)	(206,998)	(937,811)	(876,694)
Net operating income, as defined	$ 769,269	$ 774,511	$ 2,339,808	2,075,952
Self Storage Properties [Member]
Net Operating Income [Abstract]
Rental income				1,052,266
Property and related expenses				(1,183,641)
Net operating income, as defined				$ (131,375)

Segments (Assets) (Details)

Segments (Assets) (Details) - USD ($)		Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Segment Reporting Asset Reconciling Item [Line Items]
Land, buildings and improvements, net		$ 243,042,876	$ 238,341,934
Cash and cash equivalents		4,703,000	6,626,423	$ 11,146,053	$ 5,636,002
Other assets, net		5,550,102	5,895,991
TOTAL ASSETS		254,270,393	254,274,393
Significant Reconciling Items [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Other assets, net		6,524,517	9,306,036
Industrial Office Properties [Member] | Operating Segments [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Land, buildings and improvements, net	[1]	174,104,070	181,776,776
TOTAL ASSETS	[2]	179,906,501	187,198,961
Residential Properties [Member] | Operating Segments [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Land, buildings and improvements, net	[1]	28,245,137	13,914,168
TOTAL ASSETS	[2]	28,562,498	14,395,904
Retail Properties [Member] | Operating Segments [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Land, buildings and improvements, net	[1]	33,653,616	35,395,235
TOTAL ASSETS	[2]	$ 34,573,877	$ 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 ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Abstract]
Acquisition of operating properties	$ 15,774,855	$ 42,528,263
Capital expenditures and tenant improvements	3,713,626	2,354,988
Acquisition of retail properties		2,850,000
Total real estate investments	19,488,481	44,883,251
Industrial Office Properties [Member]
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Abstract]
Acquisition of operating properties		33,958,263
Capital expenditures and tenant improvements	3,629,586	2,313,655
Residential Properties [Member]
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Abstract]
Acquisition of operating properties	15,774,855	5,720,000
Retail Properties [Member]
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Abstract]
Capital expenditures and tenant improvements	$ 84,040	$ 41,333

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Millions		Nov. 04, 2016	Sep. 30, 2016	Oct. 26, 2016
Shoreline Medical Building [Member]
Subsequent Event [Line Items]
Maturity date	[1]		Jun. 1, 2022
Subsequent Event [Member] | Shoreline Medical Building [Member]
Subsequent Event [Line Items]
Asset purchase price				$ 8.2
Subsequent Event [Member] | Research Parkway Building [Member]
Subsequent Event [Line Items]
Principal balance on the loan		$ 2
Maturity date		Jan. 5, 2025
Loan interest rate		3.94%
[1]	Interest rate subject to resetting on the 6th loan anniversary.