Presidio Property Trust (SQFT) 10-Q 11 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 11, 2017
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		17,619,118
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,017
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Real estate assets and lease intangibles:
Land	$ 49,246,634	$ 51,274,462
Buildings and improvements	190,028,533	190,274,191
Tenant improvements	21,942,782	21,473,750
Lease intangibles	13,383,080	13,811,291
Real estate assets and lease intangibles, cost	274,601,029	276,833,694
Accumulated depreciation and amortization	(39,177,141)	(36,311,485)
Real estate assets and lease intangibles, net	235,423,888	240,522,209
Cash and cash equivalents	5,847,369	3,116,147
Restricted cash	3,046,359	4,271,648
Deferred leasing costs, net	1,887,513	1,920,091
Goodwill	2,423,000	2,423,000
Other assets, net	5,451,230	5,745,982
TOTAL ASSETS	254,079,359	257,999,077
Liabilities:
Mortgage notes payable, net	159,952,064	158,886,111
Accounts payable and accrued liabilities	6,062,847	6,066,068
Accrued real estate taxes	1,327,791	2,318,990
Dividends payable	1,224,122	1,171,924
Below-market leases, net	1,530,323	1,698,086
Total liabilities	200,559,114	202,249,447
Commitments and contingencies
Equity:
Additional paid-in capital	150,629,093	149,539,782
Dividends in excess of accumulated losses	(111,162,810)	(106,623,957)
Total stockholders' equity before noncontrolling interest	39,642,476	43,090,853
Noncontrolling interest	13,877,769	12,658,777
Total equity	53,520,245	55,749,630
TOTAL LIABILITIES AND EQUITY	254,079,359	257,999,077
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; 30,700 and 32,700 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively, net	30,461,967	32,108,268
Common Class A [Member]
Equity:
Common stock series A, $0.01 par value, shares authorized: 100,000,000; 17,619,118 and 17,502,673 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively	$ 176,193	$ 175,028

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2017	Dec. 31, 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)	30,700	32,700	35,000
Preferred stock shares outstanding (in shares)	30,700	32,700
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)	17,619,118	17,502,673
Common stock shares outstanding (in shares)	17,619,118	17,502,673

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues:
Rental income	$ 7,794,585	$ 7,658,273	$ 15,809,218	$ 15,909,341
Fee and other income	723,489	148,001	955,383	328,950
Total revenue	8,518,074	7,806,274	16,764,601	16,238,291
Costs and expenses:
Rental operating costs	2,636,063	2,585,013	5,273,165	5,058,364
General and administrative	1,439,820	1,232,319	2,629,837	2,462,730
Depreciation and amortization	2,443,817	2,499,630	4,947,333	5,159,161
Total costs and expenses	6,519,700	6,316,962	12,850,335	12,680,255
Other income (expense):
Interest expense-Series B preferred stock	(1,359,205)	(1,610,517)	(2,764,805)	(3,102,727)
Interest expense-mortgage notes	(1,952,216)	(1,890,682)	(3,862,812)	(3,761,516)
Interest and other income	5,829	46,593	15,097	68,332
Gain on sales of real estate, net	1,485,589	1,213,060	2,027,051	1,388,545
Income tax expense	(13,746)	(76,152)	(108,356)	(144,700)
Total other expense, net	(1,833,749)	(2,317,698)	(4,693,825)	(5,552,066)
Net income (loss)	164,625	(828,386)	(779,559)	(1,994,030)
Less: Income attributable to noncontrolling interests	(145,313)	(83,039)	(214,828)	(21,356)
Net income (loss) attributable to NetREIT, Inc. common stockholders	$ 19,312	$ (911,425)	$ (994,387)	$ (2,015,386)
Basic and diluted income (loss) per common share
Income (loss) per common share	$ 0	$ (0.05)	$ (0.06)	$ (0.12)
Weighted average number of common shares outstanding - basic and diluted	17,565,158	17,269,324	17,538,020	16,979,533

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Changes in Equity (Unaudited) - 6 months ended Jun. 30, 2017 - USD ($)	Total	Common Stock [Member]	Additional Paid In Capital [Member]	Dividends In Excess of Accumulated Losses [Member]	Parent [Member]	Noncontrolling Interests [Member]
Beginning balance at Dec. 31, 2016	$ 55,749,630	$ 175,028	$ 149,539,782	$ (106,623,957)	$ 43,090,853	$ 12,658,777
Beginning balance (in shares) at Dec. 31, 2016		17,502,673
Net (loss) income	(779,559)			(994,387)	(994,387)	214,828
Dividends declared/reinvested, value	(2,436,596)	$ 1,194	1,106,676	(3,544,466)	(2,436,596)
Dividends declared/reinvested (in shares)		119,407
Common stock repurchased, value	(17,394)	$ (29)	(17,365)		(17,394)
Common stock repurchased (in shares)		(2,962)
Contributions from noncontrolling interests, net of distributions paid	1,004,164					1,004,164
Ending balance at Jun. 30, 2017	$ 53,520,245	$ 176,193	$ 150,629,093	$ (111,162,810)	$ 39,642,476	$ 13,877,769
Ending balance (in shares) at Jun. 30, 2017		17,619,118

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net loss	$ (779,559)	$ (1,994,030)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	4,947,333	5,159,161
Stock compensation	273,840	259,068
Bad debt expense	1,000	(52,948)
Gain on sale of real estate assets, net	(2,027,051)	(1,388,545)
Amortization of financing costs	743,291	735,307
Amortization of above-market leases	55,663	93,136
Amortization of below-market leases	(167,763)	(234,140)
Straight-line rent adjustment	(317,390)	(402,452)
Changes in operating assets and liabilities:
Other assets	570,693	715,371
Accounts payable and accrued liabilities	(277,060)	(1,368,187)
Accrued real estate taxes	(991,200)	(805,744)
Net cash provided by operating activities	2,031,797	715,997
Cash flows from investing activities:
Real estate acquisitions	(9,694,785)	(7,768,755)
Additions to buildings and tenant improvements	(1,819,591)	(2,331,329)
Additions to deferred leasing costs	(233,069)	(533,760)
Proceeds from sales of real estate	13,942,848	5,287,277
Restricted cash	1,225,289	2,126,847
Net cash provided by (used in) investing activities	3,420,692	(3,219,720)
Cash flows from financing activities:
Proceeds from mortgage notes payable, net of issuance costs	9,063,146	9,199,547
Repayment of mortgage notes payable	(8,233,285)	(5,514,476)
Contributions from noncontrolling interests net of distributions paid	1,004,164	211,173
Repurchase of common stock	(17,394)	(55,023)
Dividends paid to stockholders	(2,384,398)	(2,145,717)
Net cash (used in) provided by financing activities	(2,721,267)	1,395,504
Net increase (decrease) in cash and cash equivalents	2,731,222	(1,108,219)
Cash and cash equivalents - beginning of period	3,116,147	6,626,423
Cash and cash equivalents - end of period	5,847,369	5,518,204
Supplemental disclosure of cash flow information:
Interest paid Series B preferred stock	2,242,605	3,990,611
Interest paid-mortgage notes payable	3,732,411	3,705,826
Non-cash investing and financing activities:
Reinvestment of cash dividends	1,107,870	1,258,904
Accrual of dividends payable	1,224,122	1,144,320
Redeemable Convertible Preferred Stock Series B [Member]
Cash flows from financing activities:
Series B preferred stock costs	(153,500)
Redemption of mandatorily redeemable Series B preferred stock	$ (2,000,000)	$ (300,000)

Organization

Organization	6 Months Ended
	Jun. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization	1. ORGANIZATION Organization . NetREIT, Inc. (the “Company”) is incorporated in the State of Maryland and operates as a self-administered real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”). The Company’s portfolio includes the following properties: • Fifteen office buildings and two industrial properties (“Office/Industrial Properties”) which total approximately 1,467,000 rentable square feet, • Four retail shopping centers (“Retail Properties”) which total approximately 230,000 rentable square feet, • One mixed use property which total approximately 55,000 rentable square feet (“Mixed Use Properties”), and • One hundred twenty-nine Model Homes owned by four affiliated limited partnerships and one limited liability company (“Residential Properties”). The Company operates in the following partnerships 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 the general and limited partner in four partnerships that purchase and lease back 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 six months ended June 30, 2017 and 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 six months ended June 30, 2017 and 2016, 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	6 Months Ended
	Jun. 30, 2017
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, 2016. For further information about the Company’s accounting policies, refer to the Company’s consolidated financial statements and notes thereto for the year ended December 31, 2016 included in the Company’s Annual Report on Form 10-K filed with the Securities Exchange Commission (“SEC”) on March 17, 2017 and amended on April 20, 2017. 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 six months ended June 30, 2017 and 2016, 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, 2017. 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, 2016. The condensed consolidated balance sheet at year ended December 31, 2016 has been derived from the audited consolidated financial statements included in the Form 10-K filed with the SEC on March 17, 2017 and amended on April 20, 2017. 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 six months ended June 30, 2017, management did not believe any impairment reserve was required. 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 November 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash”. This update requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. As a result, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning of period and end of period total amounts shown on the statement of cash flows. The new standard is effective for annual reporting periods beginning after December 15, 2017 with early adoption permitted. The amendments should be applied using a retrospective transition method to each period presented. The Company is still evaluating the provisions of ASU 2016-18 and its impact on the consolidated statement of cash flows.

Recent Real Estate Transactions

Recent Real Estate Transactions	6 Months Ended
	Jun. 30, 2017
Real Estate [Abstract]
Recent Real Estate Transactions	3. RECENT REAL ESTATE TRANSACTIONS On February 27, 2017, the Company sold the Rangewood Medical Building for approximately $2.2 million and recognized a loss of approximately $170,000. On March 31, 2017, the Company sold the Regatta Square Retail Center for approximately $3.0 million and recognized a gain of approximately $756,000. On April 7, 2017, the Company sold the Shoreline Medical Building for approximately $8.2 million and recognized a gain of approximately $1.3 million. During the six months ended June 30, 2017, the Company disposed of nine Model Homes for approximately $2.5 million and recognized a gain of approximately $141,000 related to the sale of these Model Homes. During the six months ended June 30, 2017, the Company acquired thirty model homes for approximately $9.7 million. The purchase price was paid through cash payments of $7.5 million and mortgage notes of $16.2 million.

Real Estate Assets

Real Estate Assets	6 Months Ended
	Jun. 30, 2017
Real Estate Assets [Abstract]
Real Estate Assets	4. REAL ESTATE ASSETS A summary of the properties owned by the Company as of June 30, 2017 is as follows: Real estate Date assets, net Property Name Acquired Location (in thousands) Garden Gateway Plaza March 2007 Colorado Springs, Colorado $ 11,529 World Plaza September 2007 San Bernardino, California 5,697 Executive Office Park July 2008 Colorado Springs, Colorado 8,129 Waterman Plaza August 2008 San Bernardino, California 5,689 Pacific Oaks Plaza September 2008 Escondido, California 4,033 Morena Office Center January 2009 San Diego, California 4,973 Genesis Plaza August 2010 San Diego, California 8,739 Dakota Bank Buildings May 2011 Fargo, North Dakota 9,896 Yucca Valley Retail Center September 2011 Yucca Valley, California 6,635 Port of San Diego Complex December 2011 San Diego, California 14,026 The Presidio November 2012 Aurora, Colorado 6,482 Bismarck March 2014 Fargo, ND 5,551 Union Terrace Building August 2014 Lakewood, Colorado 8,412 Centennial Tech Center December 2014 Colorado Springs, Colorado 13,748 Arapahoe Service Center December 2014 Centennial, Colorado 10,917 Union Town Center December 2014 Colorado Springs, Colorado 10,382 West Fargo Industrial August 2015 Fargo, North Dakota 7,536 300 N.P. August 2015 Fargo, North Dakota 3,704 Research Parkway August 2015 Colorado Springs, Colorado 2,734 One Parke Center August 2015 Westminster, Colorado 8,547 Highland Court August 2015 Centennial, Colorado 12,430 Shea Center II December 2015 Highlands Ranch, Colorado 23,705 NetREIT, Inc properties 193,494 Model Home properties 2010-2017 AZ, CA, FL, IL, NC, NJ, PA, SC, TX, UT, WI 41,930 Total real estate assets and lease intangibles, net $ 235,424 Geographic Diversification Table The following tables show a list of properties owned by NetREIT, Inc. grouped by state location as of June 30, 2017: State No. of Properties Aggregate Square Feet Approximate % of Square Feet Current Base Rent Approximate % of Aggregate Annual Rent California 7 422,687 24.9 % $ 5,685,960 26.3 % Colorado 11 872,878 51.4 % 12,330,663 57.1 % North Dakota 4 401,461 23.7 % 3,563,174 16.5 % Total 22 1,697,026 100.0 % $ 21,579,797 100.0 % 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 1.3 % $ 50,220 1.4 % California 2 4,563 1.2 % 42,456 1.2 % Florida 34 82,995 22.5 % 897,660 25.7 % Illinois 3 8,941 2.4 % 98,004 2.8 % New Jersey 4 10,379 2.8 % 101,820 2.9 % North Carolina 4 13,623 3.7 % 144,540 4.1 % Pennsylvania 11 30,989 8.4 % 371,988 10.6 % South Carolina 3 8,703 2.4 % 93,864 2.7 % Texas 61 188,315 51.2 % 1,537,080 44.0 % Utah 3 9,918 2.7 % 99,816 2.9 % Wisconsin 2 5,016 1.4 % 55,992 1.6 % Total 129 368,060 100.0 % $ 3,493,440 100.0 %

Lease Intangibles

Lease Intangibles	6 Months Ended
	Jun. 30, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Lease Intangibles	5. LEASE INTANGIBLES The following table summarizes the net value of other intangible assets acquired and the accumulated amortization for each class of intangible asset: June 30, 2017 December 31, 2016 Lease Intangibles Accumulated Amortization Lease Intangibles, net Lease Intangibles Accumulated Amortization Lease Intangibles, net In-place leases $ 6,635,928 $ (4,150,414 ) $ 2,485,514 $ 6,872,980 $ (3,840,670 ) $ 3,032,310 Leasing costs 4,622,792 (2,709,250 ) 1,913,542 4,813,951 (2,517,759 ) 2,296,192 Above-market leases 2,124,360 (1,641,992 ) 482,368 2,124,360 (1,586,328 ) 538,032 $ 13,383,080 $ (8,501,656 ) $ 4,881,424 $ 13,811,291 $ (7,944,757 ) $ 5,866,534 The net value of acquired intangible liabilities was $1,530,323 and $1,698,086 relating to below-market leases as of June 30, 2017 and December 31, 2016, respectively. Aggregate approximate amortization expense for the Company's lease intangible assets is as follows: Six months remaining in 2017 $ 749,854 Years ending December 31: 2018 1,320,270 2019 1,066,827 2020 850,757 2021 554,344 Thereafter 339,372 Total $ 4,881,424 The weighted average amortization of the intangible assets as of June 30, 2017 is 3.6 years.

Other Assets

Other Assets	6 Months Ended
	Jun. 30, 2017
Other Assets [Abstract]
Other Assets	6. OTHER ASSETS Other assets consist of the following: June 30, December 31, 2017 2016 Deferred rent receivable $ 2,920,529 $ 2,950,034 Raw land 900,000 900,000 Prepaid expenses, deposits and other 648,904 564,983 Other intangibles, net 415,182 455,632 Notes receivable 316,374 316,374 Accounts receivable, net 250,241 558,959 Total other assets $ 5,451,230 $ 5,745,982

Mortgage Notes Payable

Mortgage Notes Payable	6 Months Ended
	Jun. 30, 2017
Mortgage Loans On Real Estate [Abstract]
Mortgage Notes Payable	7. MORTGAGE NOTES PAYABLE Mortgage notes payable consisted of the following: Principal as of June 30, December 31, Loan Interest Mortgage note property Notes 2017 2016 Type Rate (1) Maturity Rangewood Medical Office Building $ - $ 958,106 Fixed 4.95 % 1/1/2019 Regatta Square - 1,150,566 Fixed 4.95 % 1/1/2019 Garden Gateway Plaza 6,537,121 6,626,739 Fixed 5.00 % 2/5/2020 Port of San Diego Complex 9,715,579 9,852,456 Fixed 4.75 % 3/5/2020 West Fargo Industrial 4,400,178 4,434,655 Fixed 4.79 % 8/4/2020 Morena Office Center (2) 2,190,482 2,224,839 Fixed 4.50 % 1/1/2021 Waterman Plaza 3,893,565 3,939,037 Fixed 4.25 % 4/29/2021 Pacific Oaks Plaza 1,489,478 1,512,640 Fixed 4.50 % 6/1/2021 The Presidio 6,000,000 6,000,000 Fixed 4.54 % 12/1/2021 Shoreline Medical Building - 3,602,238 Fixed 5.10 % 6/1/2022 Highland Court 6,763,082 6,829,348 Fixed 3.82 % 9/1/2022 Dakota Bank Buildings 10,584,434 10,677,761 Fixed 4.74 % 7/6/2024 Union Terrace Building 6,505,946 6,558,704 Fixed 4.50 % 9/5/2024 Centennial Tech Center 9,991,836 10,077,242 Fixed 4.34 % 11/5/2024 Research Parkway 1,932,815 1,956,154 Fixed 3.94 % 1/5/2025 Arapahoe Service Center 8,431,261 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) 4,191,082 4,231,842 Fixed 5.80 % 7/1/2025 Genesis Plaza 6,500,000 6,610,000 Fixed 4.65 % 8/25/2025 One Parke Centre 6,610,000 6,500,000 Fixed 4.77 % 9/5/2025 Shea Center II 17,727,500 17,727,500 Fixed 4.92 % 1/5/2026 Bismarck Office Building (5) 4,108,883 4,158,998 Fixed 4.02 % 8/1/2037 300 N.P. 2,397,089 - Fixed 4.02 % 8/1/2037 Subtotal, NetREIT, Inc. properties 134,410,331 138,568,825 4.71 % Model Home mortgage notes 27,371,340 22,259,779 Fixed (4) 2017-2020 Mortgage Notes Payable $ 161,781,671 $ 160,828,604 Unamortized loan costs (1,829,607 ) (1,942,493 ) Mortgage Notes Payable, net $ 159,952,064 $ 158,886,111 (1) Interest rates as of June 30, 2017. (2) Interest rate is subject to reset on the 6th loan anniversary. (3) Interest rate is subject to reset on July 1, 2018. (4) Each Model Home has a stand-alone mortgage note at interest rates ranging from 3.8% to 5.5% per annum (at June 30, 2017 (5) 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 June 30, 2017 NetREIT, Inc. Model Homes Principal Notes Notes Payable Payments Six months remaining in 2017 $ 871,226 $ 726,148 $ 1,597,374 Years ending December 31: 2018 1,931,368 1,950,355 $ 3,881,723 2019 2,286,504 16,493,819 $ 18,780,323 2020 21,157,086 8,201,018 $ 29,358,104 2021 14,494,462 - $ 14,494,462 Thereafter 93,669,685 - $ 93,669,685 Total $ 134,410,331 $ 27,371,340 $ 161,781,671

Series B Mandatorily Redeemable

Series B Mandatorily Redeemable Preferred Stock	6 Months Ended
	Jun. 30, 2017
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 was scheduled to be redeemed on August 1, 2017; however, the Company had two one year options to extend the redemption date. On June 30, 2017, the Company exercised its option to extend the redemption date to August 1, 2019 and paid an extension fee of $153,500. 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 June 30, 2017 During 2016, the Company redeemed 300 shares in June, 1,000 shares in July and 1,000 shares in August for a total of $2.3 million. During 2017, the Company redeemed 1,000 shares in March and 1,000 shares in May for a total of $2.0 million. As of June 30, 2017, the remaining outstanding share balance was 30,700.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2017
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 six months ended June 30, 2017 and 2016 the Company paid cash dividends, net of reinvested stock dividends, of approximately $2,384,000 and $2,145,000, respectively, or at a rate of $0.40 per share on an annualized basis. As the Company expects to report net taxable losses for the year ended December 31, 2017, 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 June 30, 2017 approximately $16.9 million or approximately 1,777,469 shares of common stock have been issued under the dividend reinvestment plan to date.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2017
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 and six months ended June 30, 2017 and 2016 totaled $7,000 and $7,000, respectively, and $14,000 and $14,000, respectively.

Segments

Segments	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Segments	11. SEGMENTS The Company’s reportable segments consist of three types of commercial real estate properties for which the Company’s decision-makers internally evaluate operating performance and financial results: Office/Industrial/Mixed Use Properties, Residential Properties and Retail Properties. 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 six months ended June 30, 2017 and 2016. For the Three Months Ended June 30, For the Six Months Ended June 30, 2017 2016 2017 2016 Office/Industrial Properties: Rental income $ 6,535,722 $ 6,200,968 $ 12,779,101 $ 13,194,587 Property and related expenses (2,295,720 ) (2,140,237 ) (4,514,238 ) (4,373,491 ) Net operating income, as defined 4,240,002 4,060,731 8,264,864 8,821,096 Residential Properties: Rental income 930,062 567,281 1,806,607 955,681 Property and related expenses (35,038 ) (61,376 ) (73,995 ) (78,416 ) Net operating income, as defined 895,024 505,905 1,732,612 877,265 Retail/Mixed Use Properties: Rental income 1,052,289 1,038,025 2,178,893 2,088,023 Property and related expenses (305,304 ) (383,400 ) (684,933 ) (606,457 ) Net operating income, as defined 746,985 654,625 1,493,960 1,481,566 Reconciliation to net loss: Total net operating income, as defined, for reportable segments 5,882,011 5,221,261 11,491,436 11,179,927 General and administrative expenses (1,439,820 ) (1,232,319 ) (2,629,837 ) (2,462,730 ) Depreciation and amortization (2,443,817 ) (2,499,630 ) (4,947,333 ) (5,159,161 ) Interest expense (3,311,421 ) (3,501,199 ) (6,627,617 ) (6,864,243 ) Interest income 5,829 46,593 15,097 68,332 Income tax expense (13,746 ) (76,152 ) (108,356 ) (144,700 ) Gain on sale of real estate 1,485,589 1,213,060 2,027,051 1,388,545 Net income (loss) $ 164,625 $ (828,386 ) $ (779,559 ) $ (1,994,030 ) June 30, December 31, Assets by Reportable Segment: 2017 2016 Office/Industrial Properties: Land, buildings and improvements, net (1) $ 162,357,260 $ 172,309,537 Total assets (2) $ 166,648,955 $ 175,689,722 Residential Properties: Land, buildings and improvements, net (1) $ 38,280,020 $ 34,813,680 Total assets (2) $ 39,265,806 $ 35,960,179 Retail/Mixed Use Properties: Land, buildings and improvements, net (1) $ 31,893,613 $ 33,398,992 Total assets (2) $ 32,680,626 $ 35,320,092 Reconciliation to Total Assets: Total assets for reportable segments $ 238,595,388 $ 246,969,993 Other unallocated assets: Cash and cash equivalents 5,847,369 3,116,147 Other assets, net 9,636,602 7,912,937 Total Assets $ 254,079,359 $ 257,999,077 (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 Six Months Ended June 30, 2017 2016 Office/Industrial Properties: Capital expenditures and tenant improvements $ 1,783,814 $ 2,309,976 Residential Properties: Acquisition of operating properties 9,694,785 7,768,755 Retail/Mixed Use Properties: Capital expenditures and tenant improvements 35,777 21,353 Totals: Acquisition of operating properties, net 9,694,785 7,768,755 Capital expenditures and tenant improvements 1,819,591 2,331,329 Total real estate investments $ 11,514,376 $ 10,100,084

Significant Accounting Polici18

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
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 six months ended June 30, 2017 and 2016, 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, 2017. 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, 2016. The condensed consolidated balance sheet at year ended December 31, 2016 has been derived from the audited consolidated financial statements included in the Form 10-K filed with the SEC on March 17, 2017 and amended on April 20, 2017.
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 six months ended June 30, 2017, management did not believe any impairment reserve was required.
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 November 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash”. This update requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. As a result, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning of period and end of period total amounts shown on the statement of cash flows. The new standard is effective for annual reporting periods beginning after December 15, 2017 with early adoption permitted. The amendments should be applied using a retrospective transition method to each period presented. The Company is still evaluating the provisions of ASU 2016-18 and its impact on the consolidated statement of cash flows.

Real Estate Assets (Tables)

Real Estate Assets (Tables)	6 Months Ended
	Jun. 30, 2017
Real Estate Assets [Abstract]
Real Estate Properties Owned	A summary of the properties owned by the Company as of June 30, 2017 is as follows: Real estate Date assets, net Property Name Acquired Location (in thousands) Garden Gateway Plaza March 2007 Colorado Springs, Colorado $ 11,529 World Plaza September 2007 San Bernardino, California 5,697 Executive Office Park July 2008 Colorado Springs, Colorado 8,129 Waterman Plaza August 2008 San Bernardino, California 5,689 Pacific Oaks Plaza September 2008 Escondido, California 4,033 Morena Office Center January 2009 San Diego, California 4,973 Genesis Plaza August 2010 San Diego, California 8,739 Dakota Bank Buildings May 2011 Fargo, North Dakota 9,896 Yucca Valley Retail Center September 2011 Yucca Valley, California 6,635 Port of San Diego Complex December 2011 San Diego, California 14,026 The Presidio November 2012 Aurora, Colorado 6,482 Bismarck March 2014 Fargo, ND 5,551 Union Terrace Building August 2014 Lakewood, Colorado 8,412 Centennial Tech Center December 2014 Colorado Springs, Colorado 13,748 Arapahoe Service Center December 2014 Centennial, Colorado 10,917 Union Town Center December 2014 Colorado Springs, Colorado 10,382 West Fargo Industrial August 2015 Fargo, North Dakota 7,536 300 N.P. August 2015 Fargo, North Dakota 3,704 Research Parkway August 2015 Colorado Springs, Colorado 2,734 One Parke Center August 2015 Westminster, Colorado 8,547 Highland Court August 2015 Centennial, Colorado 12,430 Shea Center II December 2015 Highlands Ranch, Colorado 23,705 NetREIT, Inc properties 193,494 Model Home properties 2010-2017 AZ, CA, FL, IL, NC, NJ, PA, SC, TX, UT, WI 41,930 Total real estate assets and lease intangibles, net $ 235,424
Geographic Locations of Real Estate Properties Owned	The following tables show a list of properties owned by NetREIT, Inc. grouped by state location as of June 30, 2017: State No. of Properties Aggregate Square Feet Approximate % of Square Feet Current Base Rent Approximate % of Aggregate Annual Rent California 7 422,687 24.9 % $ 5,685,960 26.3 % Colorado 11 872,878 51.4 % 12,330,663 57.1 % North Dakota 4 401,461 23.7 % 3,563,174 16.5 % Total 22 1,697,026 100.0 % $ 21,579,797 100.0 % 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 1.3 % $ 50,220 1.4 % California 2 4,563 1.2 % 42,456 1.2 % Florida 34 82,995 22.5 % 897,660 25.7 % Illinois 3 8,941 2.4 % 98,004 2.8 % New Jersey 4 10,379 2.8 % 101,820 2.9 % North Carolina 4 13,623 3.7 % 144,540 4.1 % Pennsylvania 11 30,989 8.4 % 371,988 10.6 % South Carolina 3 8,703 2.4 % 93,864 2.7 % Texas 61 188,315 51.2 % 1,537,080 44.0 % Utah 3 9,918 2.7 % 99,816 2.9 % Wisconsin 2 5,016 1.4 % 55,992 1.6 % Total 129 368,060 100.0 % $ 3,493,440 100.0 %

Lease Intangibles (Tables)

Lease Intangibles (Tables)	6 Months Ended
	Jun. 30, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Net Value of Other Intangible Assets	The following table summarizes the net value of other intangible assets acquired and the accumulated amortization for each class of intangible asset: June 30, 2017 December 31, 2016 Lease Intangibles Accumulated Amortization Lease Intangibles, net Lease Intangibles Accumulated Amortization Lease Intangibles, net In-place leases $ 6,635,928 $ (4,150,414 ) $ 2,485,514 $ 6,872,980 $ (3,840,670 ) $ 3,032,310 Leasing costs 4,622,792 (2,709,250 ) 1,913,542 4,813,951 (2,517,759 ) 2,296,192 Above-market leases 2,124,360 (1,641,992 ) 482,368 2,124,360 (1,586,328 ) 538,032 $ 13,383,080 $ (8,501,656 ) $ 4,881,424 $ 13,811,291 $ (7,944,757 ) $ 5,866,534
Amortization Expense for the Company Lease Intangible Assets	Aggregate approximate amortization expense for the Company's lease intangible assets is as follows: Six months remaining in 2017 $ 749,854 Years ending December 31: 2018 1,320,270 2019 1,066,827 2020 850,757 2021 554,344 Thereafter 339,372 Total $ 4,881,424

Other Assets (Tables)

Other Assets (Tables)	6 Months Ended
	Jun. 30, 2017
Other Assets [Abstract]
Other Assets	Other assets consist of the following: June 30, December 31, 2017 2016 Deferred rent receivable $ 2,920,529 $ 2,950,034 Raw land 900,000 900,000 Prepaid expenses, deposits and other 648,904 564,983 Other intangibles, net 415,182 455,632 Notes receivable 316,374 316,374 Accounts receivable, net 250,241 558,959 Total other assets $ 5,451,230 $ 5,745,982

Mortgage Notes Payable (Tables)

Mortgage Notes Payable (Tables)	6 Months Ended
	Jun. 30, 2017
Mortgage Loans On Real Estate [Abstract]
Mortgage Notes Payable	Mortgage notes payable consisted of the following: Principal as of June 30, December 31, Loan Interest Mortgage note property Notes 2017 2016 Type Rate (1) Maturity Rangewood Medical Office Building $ - $ 958,106 Fixed 4.95 % 1/1/2019 Regatta Square - 1,150,566 Fixed 4.95 % 1/1/2019 Garden Gateway Plaza 6,537,121 6,626,739 Fixed 5.00 % 2/5/2020 Port of San Diego Complex 9,715,579 9,852,456 Fixed 4.75 % 3/5/2020 West Fargo Industrial 4,400,178 4,434,655 Fixed 4.79 % 8/4/2020 Morena Office Center (2) 2,190,482 2,224,839 Fixed 4.50 % 1/1/2021 Waterman Plaza 3,893,565 3,939,037 Fixed 4.25 % 4/29/2021 Pacific Oaks Plaza 1,489,478 1,512,640 Fixed 4.50 % 6/1/2021 The Presidio 6,000,000 6,000,000 Fixed 4.54 % 12/1/2021 Shoreline Medical Building - 3,602,238 Fixed 5.10 % 6/1/2022 Highland Court 6,763,082 6,829,348 Fixed 3.82 % 9/1/2022 Dakota Bank Buildings 10,584,434 10,677,761 Fixed 4.74 % 7/6/2024 Union Terrace Building 6,505,946 6,558,704 Fixed 4.50 % 9/5/2024 Centennial Tech Center 9,991,836 10,077,242 Fixed 4.34 % 11/5/2024 Research Parkway 1,932,815 1,956,154 Fixed 3.94 % 1/5/2025 Arapahoe Service Center 8,431,261 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) 4,191,082 4,231,842 Fixed 5.80 % 7/1/2025 Genesis Plaza 6,500,000 6,610,000 Fixed 4.65 % 8/25/2025 One Parke Centre 6,610,000 6,500,000 Fixed 4.77 % 9/5/2025 Shea Center II 17,727,500 17,727,500 Fixed 4.92 % 1/5/2026 Bismarck Office Building (5) 4,108,883 4,158,998 Fixed 4.02 % 8/1/2037 300 N.P. 2,397,089 - Fixed 4.02 % 8/1/2037 Subtotal, NetREIT, Inc. properties 134,410,331 138,568,825 4.71 % Model Home mortgage notes 27,371,340 22,259,779 Fixed (4) 2017-2020 Mortgage Notes Payable $ 161,781,671 $ 160,828,604 Unamortized loan costs (1,829,607 ) (1,942,493 ) Mortgage Notes Payable, net $ 159,952,064 $ 158,886,111 (1) Interest rates as of June 30, 2017. (2) Interest rate is subject to reset on the 6th loan anniversary. (3) Interest rate is subject to reset on July 1, 2018. (4) Each Model Home has a stand-alone mortgage note at interest rates ranging from 3.8% to 5.5% per annum (at June 30, 2017 (5) 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 June 30, 2017 NetREIT, Inc. Model Homes Principal Notes Notes Payable Payments Six months remaining in 2017 $ 871,226 $ 726,148 $ 1,597,374 Years ending December 31: 2018 1,931,368 1,950,355 $ 3,881,723 2019 2,286,504 16,493,819 $ 18,780,323 2020 21,157,086 8,201,018 $ 29,358,104 2021 14,494,462 - $ 14,494,462 Thereafter 93,669,685 - $ 93,669,685 Total $ 134,410,331 $ 27,371,340 $ 161,781,671

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jun. 30, 2017
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 six months ended June 30, 2017 and 2016. For the Three Months Ended June 30, For the Six Months Ended June 30, 2017 2016 2017 2016 Office/Industrial Properties: Rental income $ 6,535,722 $ 6,200,968 $ 12,779,101 $ 13,194,587 Property and related expenses (2,295,720 ) (2,140,237 ) (4,514,238 ) (4,373,491 ) Net operating income, as defined 4,240,002 4,060,731 8,264,864 8,821,096 Residential Properties: Rental income 930,062 567,281 1,806,607 955,681 Property and related expenses (35,038 ) (61,376 ) (73,995 ) (78,416 ) Net operating income, as defined 895,024 505,905 1,732,612 877,265 Retail/Mixed Use Properties: Rental income 1,052,289 1,038,025 2,178,893 2,088,023 Property and related expenses (305,304 ) (383,400 ) (684,933 ) (606,457 ) Net operating income, as defined 746,985 654,625 1,493,960 1,481,566 Reconciliation to net loss: Total net operating income, as defined, for reportable segments 5,882,011 5,221,261 11,491,436 11,179,927 General and administrative expenses (1,439,820 ) (1,232,319 ) (2,629,837 ) (2,462,730 ) Depreciation and amortization (2,443,817 ) (2,499,630 ) (4,947,333 ) (5,159,161 ) Interest expense (3,311,421 ) (3,501,199 ) (6,627,617 ) (6,864,243 ) Interest income 5,829 46,593 15,097 68,332 Income tax expense (13,746 ) (76,152 ) (108,356 ) (144,700 ) Gain on sale of real estate 1,485,589 1,213,060 2,027,051 1,388,545 Net income (loss) $ 164,625 $ (828,386 ) $ (779,559 ) $ (1,994,030 )
Reconciliation of Assets by Segment to Total Assets	June 30, December 31, Assets by Reportable Segment: 2017 2016 Office/Industrial Properties: Land, buildings and improvements, net (1) $ 162,357,260 $ 172,309,537 Total assets (2) $ 166,648,955 $ 175,689,722 Residential Properties: Land, buildings and improvements, net (1) $ 38,280,020 $ 34,813,680 Total assets (2) $ 39,265,806 $ 35,960,179 Retail/Mixed Use Properties: Land, buildings and improvements, net (1) $ 31,893,613 $ 33,398,992 Total assets (2) $ 32,680,626 $ 35,320,092 Reconciliation to Total Assets: Total assets for reportable segments $ 238,595,388 $ 246,969,993 Other unallocated assets: Cash and cash equivalents 5,847,369 3,116,147 Other assets, net 9,636,602 7,912,937 Total Assets $ 254,079,359 $ 257,999,077 (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 Six Months Ended June 30, 2017 2016 Office/Industrial Properties: Capital expenditures and tenant improvements $ 1,783,814 $ 2,309,976 Residential Properties: Acquisition of operating properties 9,694,785 7,768,755 Retail/Mixed Use Properties: Capital expenditures and tenant improvements 35,777 21,353 Totals: Acquisition of operating properties, net 9,694,785 7,768,755 Capital expenditures and tenant improvements 1,819,591 2,331,329 Total real estate investments $ 11,514,376 $ 10,100,084

Organization (Details)

Organization (Details)	1 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2017ft²PropertyCounterparty_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 lease back model homes from developers in which the company is the general and limited partner | Counterparty_Investment		4
Key Provisions of Operating or Partnership Agreement, Description		The Company operates in the following partnerships 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 the general and limited partner in four partnerships that purchase and lease back 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, Industrial Properties And Medical Building [Member]
Real Estate Properties [Line Items]
Number of properties		17
Area of Real Estate Property | ft²		1,467,000
Retail Properties [Member]
Real Estate Properties [Line Items]
Number of properties		4
Area of Real Estate Property | ft²		230,000
Mixed Use Properties [Member]
Real Estate Properties [Line Items]
Number of properties		1
Area of Real Estate Property | ft²		55,000
Residential Properties [Member]
Real Estate Properties [Line Items]
Number of properties		129
Number of limited partnerships in which the company is sole General Partner | Counterparty_Investment		4

Recent Real Estate Transactio25

Recent Real Estate Transactions (Disposals of Properties) (Details)	Apr. 07, 2017USD ($)	Mar. 31, 2017USD ($)	Feb. 27, 2017USD ($)	Jun. 30, 2017USD ($)Property	Dec. 31, 2016USD ($)
Real Estate Properties [Line Items]
Mortgage notes issued for property acquired				$ 159,952,064	$ 158,886,111
Residential Properties [Member]
Real Estate Properties [Line Items]
Number of properties | Property				129
Residential Properties [Member] | Rangewood Medical Office Building [Member]
Real Estate Properties [Line Items]
Proceeds from sale of property			$ 2,200,000
Gain (loss) on sale of property			$ (170,000)
Residential Properties [Member] | Regatta Square Retail Center [Member]
Real Estate Properties [Line Items]
Proceeds from sale of property		$ 3,000,000
Gain (loss) on sale of property		$ 756,000
Residential Properties [Member] | Shoreline Medical Building [Member]
Real Estate Properties [Line Items]
Proceeds from sale of property	$ 8,200,000
Gain (loss) on sale of property	$ 1,300,000
Residential Properties [Member] | Nine Dubose Model Homes [Member]
Real Estate Properties [Line Items]
Proceeds from sale of property				$ 2,500,000
Gain (loss) on sale of property				$ 141,000
Number of properties | Property				9
Residential Properties [Member] | Thirty Dubose Model Homes [Member]
Real Estate Properties [Line Items]
Number of properties | Property				30
Purchase price of property acquired				$ 9,700,000
Cash payment for the properties acquired				7,500,000
Mortgage notes issued for property acquired				$ 16,200,000

Real Estate Assets (Summary of

Real Estate Assets (Summary of Properties Owned) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Real Estate And Accumulated Depreciation [Line Items]
Real Estate Assets Owned	$ 235,423,888	$ 240,522,209
Garden Gateway Plaza [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Mar. 1, 2007
Location	Colorado Springs, Colorado
Real Estate Assets Owned	$ 11,529,000
World Plaza [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Sep. 1, 2007
Location	San Bernardino, California
Real Estate Assets Owned	$ 5,697,000
Executive Office Park [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Jul. 1, 2008
Location	Colorado Springs, Colorado
Real Estate Assets Owned	$ 8,129,000
Waterman Plaza [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Aug. 1, 2008
Location	San Bernardino, California
Real Estate Assets Owned	$ 5,689,000
Pacific Oaks Plaza [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Sep. 1, 2008
Location	Escondido, California
Real Estate Assets Owned	$ 4,033,000
Morena Office Center [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Jan. 1, 2009
Location	San Diego, California
Real Estate Assets Owned	$ 4,973,000
Genesis Plaza [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Aug. 1, 2010
Location	San Diego, California
Real Estate Assets Owned	$ 8,739,000
Dakota Bank Buildings [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	May 1, 2011
Location	Fargo, North Dakota
Real Estate Assets Owned	$ 9,896,000
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	$ 6,635,000
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	$ 14,026,000
The Presidio [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Nov. 1, 2012
Location	Aurora, Colorado
Real Estate Assets Owned	$ 6,482,000
Bismarck Office Building [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Mar. 1, 2014
Location	Fargo, ND
Real Estate Assets Owned	$ 5,551,000
Union Terrace [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Aug. 1, 2014
Location	Lakewood, Colorado
Real Estate Assets Owned	$ 8,412,000
Centennial Tech Center [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Dec. 1, 2014
Location	Colorado Springs, Colorado
Real Estate Assets Owned	$ 13,748,000
Arapahoe Service Center [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Dec. 1, 2014
Location	Centennial, Colorado
Real Estate Assets Owned	$ 10,917,000
Union Town Center [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Dec. 1, 2014
Location	Colorado Springs, Colorado
Real Estate Assets Owned	$ 10,382,000
West Fargo Industrial [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Aug. 1, 2015
Location	Fargo, North Dakota
Real Estate Assets Owned	$ 7,536,000
300 N.P. [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Aug. 1, 2015
Location	Fargo, North Dakota
Real Estate Assets Owned	$ 3,704,000
Research Parkway [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Aug. 1, 2015
Location	Colorado Springs, Colorado
Real Estate Assets Owned	$ 2,734,000
One Parke Center [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Aug. 1, 2015
Location	Westminster, Colorado
Real Estate Assets Owned	$ 8,547,000
Highland Court [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Aug. 1, 2015
Location	Centennial, Colorado
Real Estate Assets Owned	$ 12,430,000
Shea Center II [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Dec. 1, 2015
Location	Highlands Ranch, Colorado
Real Estate Assets Owned	$ 23,705,000
NetREIT, Inc. Properties [Member]
Real Estate And Accumulated Depreciation [Line Items]
Real Estate Assets Owned	193,494,000
Model Home Properties [Member]
Real Estate And Accumulated Depreciation [Line Items]
Real Estate Assets Owned	$ 41,930,000
Model Home Properties [Member] | Minimum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Jan. 1, 2010
Model Home Properties [Member] | Maximum [Member]
Real Estate And Accumulated Depreciation [Line Items]
Date acquired	Jan. 1, 2017

Real Estate Assets (Geographic

Real Estate Assets (Geographic Locations of Real Estate Properties Owned) (Details)	6 Months Ended
	Jun. 30, 2017USD ($)ft²Property
NetREIT, Inc. Properties [Member]
Real Estate Properties [Line Items]
Number of properties | Property	22
Aggregate Square Feet | ft²	1,697,026
Approximate % of Square Feet	100.00%
Current Base Annual Rent | $	$ 21,579,797
Approximate of Aggregate % Annual Rent	100.00%
NetREIT, Inc. Properties [Member] | California [Member]
Real Estate Properties [Line Items]
Number of properties | Property	7
Aggregate Square Feet | ft²	422,687
Approximate % of Square Feet	24.90%
Current Base Annual Rent | $	$ 5,685,960
Approximate of Aggregate % Annual Rent	26.30%
NetREIT, Inc. Properties [Member] | Colorado [Member]
Real Estate Properties [Line Items]
Number of properties | Property	11
Aggregate Square Feet | ft²	872,878
Approximate % of Square Feet	51.40%
Current Base Annual Rent | $	$ 12,330,663
Approximate of Aggregate % Annual Rent	57.10%
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	23.70%
Current Base Annual Rent | $	$ 3,563,174
Approximate of Aggregate % Annual Rent	16.50%
Model Home Properties [Member]
Real Estate Properties [Line Items]
Number of properties | Property	129
Aggregate Square Feet | ft²	368,060
Approximate % of Square Feet	100.00%
Current Base Annual Rent | $	$ 3,493,440
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	1.30%
Current Base Annual Rent | $	$ 50,220
Approximate of Aggregate % Annual Rent	1.40%
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	1.20%
Current Base Annual Rent | $	$ 42,456
Approximate of Aggregate % Annual Rent	1.20%
Model Home Properties [Member] | Florida [Member]
Real Estate Properties [Line Items]
Number of properties | Property	34
Aggregate Square Feet | ft²	82,995
Approximate % of Square Feet	22.50%
Current Base Annual Rent | $	$ 897,660
Approximate of Aggregate % Annual Rent	25.70%
Model Home Properties [Member] | Illinois [Member]
Real Estate Properties [Line Items]
Number of properties | Property	3
Aggregate Square Feet | ft²	8,941
Approximate % of Square Feet	2.40%
Current Base Annual Rent | $	$ 98,004
Approximate of Aggregate % Annual Rent	2.80%
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	2.80%
Current Base Annual Rent | $	$ 101,820
Approximate of Aggregate % Annual Rent	2.90%
Model Home Properties [Member] | North Carolina [Member]
Real Estate Properties [Line Items]
Number of properties | Property	4
Aggregate Square Feet | ft²	13,623
Approximate % of Square Feet	3.70%
Current Base Annual Rent | $	$ 144,540
Approximate of Aggregate % Annual Rent	4.10%
Model Home Properties [Member] | Pennsylvania [Member]
Real Estate Properties [Line Items]
Number of properties | Property	11
Aggregate Square Feet | ft²	30,989
Approximate % of Square Feet	8.40%
Current Base Annual Rent | $	$ 371,988
Approximate of Aggregate % Annual Rent	10.60%
Model Home Properties [Member] | South Carolina [Member]
Real Estate Properties [Line Items]
Number of properties | Property	3
Aggregate Square Feet | ft²	8,703
Approximate % of Square Feet	2.40%
Current Base Annual Rent | $	$ 93,864
Approximate of Aggregate % Annual Rent	2.70%
Model Home Properties [Member] | Texas [Member]
Real Estate Properties [Line Items]
Number of properties | Property	61
Aggregate Square Feet | ft²	188,315
Approximate % of Square Feet	51.20%
Current Base Annual Rent | $	$ 1,537,080
Approximate of Aggregate % Annual Rent	44.00%
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	2.70%
Current Base Annual Rent | $	$ 99,816
Approximate of Aggregate % Annual Rent	2.90%
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	1.40%
Current Base Annual Rent | $	$ 55,992
Approximate of Aggregate % Annual Rent	1.60%

Lease Intangibles (Net Value of

Lease Intangibles (Net Value of Other Intangible Assets and Amortization by Class) (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Finite Lived Intangible Assets [Line Items]
Lease intangibles	$ 13,383,080	$ 13,811,291
Accumulated amortization	(8,501,656)	(7,944,757)
Lease intangibles, net	4,881,424	5,866,534
Leases, Acquired-in-Place [Member]
Finite Lived Intangible Assets [Line Items]
Lease intangibles	6,635,928	6,872,980
Accumulated amortization	(4,150,414)	(3,840,670)
Lease intangibles, net	2,485,514	3,032,310
Leasing Cost [Member]
Finite Lived Intangible Assets [Line Items]
Lease intangibles	4,622,792	4,813,951
Accumulated amortization	(2,709,250)	(2,517,759)
Lease intangibles, net	1,913,542	2,296,192
Above Market Leases [Member]
Finite Lived Intangible Assets [Line Items]
Lease intangibles	2,124,360	2,124,360
Accumulated amortization	(1,641,992)	(1,586,328)
Lease intangibles, net	$ 482,368	$ 538,032

Lease Intangibles - Additional

Lease Intangibles - Additional Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Finite Lived Intangible Assets [Line Items]
Below-market leases, net	$ 1,530,323	$ 1,698,086
Weighted average [Member]
Finite Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Remaining Amortization Period	3 years 7 months 6 days

Lease Intangibles (Amortization

Lease Intangibles (Amortization Expense for the Company Lease Intangible Assets) (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Six months remaining in 2017	$ 749,854
2,018	1,320,270
2,019	1,066,827
2,020	850,757
2,021	554,344
Thereafter	339,372
Lease intangibles, net	$ 4,881,424	$ 5,866,534

Other Assets (Details)

Other Assets (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Other Assets [Line Items]
Raw land	$ 49,246,634	$ 51,274,462
Other intangibles, net	415,182	455,632
Total other assets	5,451,230	5,745,982
Other Assets [Member]
Other Assets [Line Items]
Deferred rent receivable	2,920,529	2,950,034
Raw land	900,000	900,000
Prepaid expenses, deposits and other	648,904	564,983
Notes receivable	316,374	316,374
Accounts receivable, net	$ 250,241	$ 558,959

Mortgage Notes Payable (Details

Mortgage Notes Payable (Details) - USD ($)		6 Months Ended
		Jun. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Mortgage notes payable		$ 161,781,671	$ 160,828,604
Unamortized loan costs		(1,829,607)	(1,942,493)
Mortgage notes payable, net		159,952,064	158,886,111
Bismarck Office Building [Member]
Debt Instrument [Line Items]
Mortgage notes payable	[1]	$ 4,108,883	4,158,998
Fixed interest rate on mortgage (in hundredths)	[1],[2]	4.02%
Maturity date	[1]	Aug. 1, 2037
Rangewood Medical Office Building [Member]
Debt Instrument [Line Items]
Mortgage notes payable			958,106
Fixed interest rate on mortgage (in hundredths)	[2]	4.95%
Maturity date		Jan. 1, 2019
Regatta Square [Member]
Debt Instrument [Line Items]
Mortgage notes payable			1,150,566
Fixed interest rate on mortgage (in hundredths)	[2]	4.95%
Maturity date		Jan. 1, 2019
Port of San Diego Complex [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 9,715,579	9,852,456
Fixed interest rate on mortgage (in hundredths)	[2]	4.75%
Maturity date		Mar. 5, 2020
Garden Gateway Plaza [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 6,537,121	6,626,739
Fixed interest rate on mortgage (in hundredths)	[2]	5.00%
Maturity date		Feb. 5, 2020
West Fargo Industrial [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 4,400,178	4,434,655
Fixed interest rate on mortgage (in hundredths)	[2]	4.79%
Maturity date		Aug. 4, 2020
Morena Office Center [Member]
Debt Instrument [Line Items]
Mortgage notes payable	[3]	$ 2,190,482	2,224,839
Fixed interest rate on mortgage (in hundredths)	[2],[3]	4.50%
Maturity date	[3]	Jan. 1, 2021
Waterman Plaza [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 3,893,565	3,939,037
Fixed interest rate on mortgage (in hundredths)	[2]	4.25%
Maturity date		Apr. 29, 2021
Pacific Oaks Plaza [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 1,489,478	1,512,640
Fixed interest rate on mortgage (in hundredths)	[2]	4.50%
Maturity date		Jun. 1, 2021
Shoreline Medical Building [Member]
Debt Instrument [Line Items]
Mortgage notes payable			3,602,238
Fixed interest rate on mortgage (in hundredths)	[2]	5.10%
Maturity date		Jun. 1, 2022
Highland Court [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 6,763,082	6,829,348
Fixed interest rate on mortgage (in hundredths)	[2]	3.82%
Maturity date		Sep. 1, 2022
Dakota Bank Buildings [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 10,584,434	10,677,761
Fixed interest rate on mortgage (in hundredths)	[2]	4.74%
Maturity date		Jul. 6, 2024
Union Terrace [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 6,505,946	6,558,704
Fixed interest rate on mortgage (in hundredths)	[2]	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)	[2]	4.54%
Maturity date		Dec. 1, 2021
Research Parkway [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 1,932,815	1,956,154
Fixed interest rate on mortgage (in hundredths)	[2]	3.94%
Maturity date		Jan. 5, 2025
Centennial Tech Center [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 9,991,836	10,077,242
Fixed interest rate on mortgage (in hundredths)	[2]	4.34%
Maturity date		Nov. 5, 2024
Arapahoe Service Center [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 8,431,261	8,500,000
Fixed interest rate on mortgage (in hundredths)	[2]	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)	[2]	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)	[2]	4.30%
Maturity date		Apr. 11, 2025
Executive Office Park [Member]
Debt Instrument [Line Items]
Mortgage notes payable	[4]	$ 4,191,082	4,231,842
Fixed interest rate on mortgage (in hundredths)	[2],[4]	5.80%
Maturity date	[4]	Jul. 1, 2025
Genesis Plaza [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 6,500,000	6,610,000
Fixed interest rate on mortgage (in hundredths)	[2]	4.65%
Maturity date		Aug. 25, 2025
One Parke Center [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 6,610,000	6,500,000
Fixed interest rate on mortgage (in hundredths)	[2]	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)	[2]	4.92%
Maturity date		Jan. 5, 2026
300 N.P. [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 2,397,089
Fixed interest rate on mortgage (in hundredths)	[2]	4.02%
Maturity date		Aug. 1, 2037
NetREIT, Inc. Properties [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 134,410,331	138,568,825
Fixed interest rate on mortgage (in hundredths)	[2]	4.71%
Model Home Properties [Member]
Debt Instrument [Line Items]
Mortgage notes payable		$ 27,371,340	$ 22,259,779
Model Home Properties [Member] | Minimum [Member]
Debt Instrument [Line Items]
Fixed interest rate on mortgage (in hundredths)		3.80%
Maturity date	[5]	Jan. 1, 2017
Model Home Properties [Member] | Maximum [Member]
Debt Instrument [Line Items]
Fixed interest rate on mortgage (in hundredths)		5.50%
Maturity date	[5]	Jan. 1, 2020
[1]	Interest rate is subject to reset on September 1, 2023 and on September 1, 2030.
[2]	Interest rates as of June 30, 2017.
[3]	Interest rate is subject to reset on the 6th loan anniversary.
[4]	Interest rate is subject to reset on July 1, 2018
[5]	Each Model Home has a stand-alone mortgage note at interest rates ranging from 3.8% to 5.5% per annum (at June 30, 2017).

Mortgage Notes Payable (Parenth

Mortgage Notes Payable (Parenthetical) (Details)	6 Months Ended
	Jun. 30, 2017
Morena Office Center [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate Terms	Interest rate is subject to reset on the 6th loan anniversary.
Fixed interest rate on mortgage (in hundredth)	4.50%	[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]
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)	5.50%
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],[4]
[1]	Interest rate is subject to reset on the 6th loan anniversary.
[2]	Interest rates as of June 30, 2017.
[3]	Interest rate is subject to reset on July 1, 2018
[4]	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)	Jun. 30, 2017USD ($)
Debt Instrument [Line Items]
Six months remaining in 2017	$ 1,597,374
2,018	3,881,723
2,019	18,780,323
2,020	29,358,104
2,021	14,494,462
Thereafter	93,669,685
Total	161,781,671
NetREIT Inc [Member]
Debt Instrument [Line Items]
Six months remaining in 2017	871,226
2,018	1,931,368
2,019	2,286,504
2,020	21,157,086
2,021	14,494,462
Thereafter	93,669,685
Total	134,410,331
Model Home [Member]
Debt Instrument [Line Items]
Six months remaining in 2017	726,148
2,018	1,950,355
2,019	16,493,819
2,020	8,201,018
Total	$ 27,371,340

Series B Mandatorily Redeemab35

Series B Mandatorily Redeemable Preferred Stock (Details) - USD ($)	1 Months Ended					3 Months Ended		6 Months Ended		12 Months Ended
	May 31, 2017	Mar. 31, 2017	Aug. 31, 2016	Jul. 31, 2016	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016	Dec. 31, 2015
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Interest expense						$ 3,311,421	$ 3,501,199	$ 6,627,617	$ 6,864,243
Preferred stock extend redemption date								Aug. 1, 2019
Preferred stock redemption extension fee paid								$ 153,500
Redeemable Convertible Preferred Stock Series B [Member]
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Preferred stock shares issued (in shares)						30,700		30,700		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
Financial Instruments Subject to Mandatory Redemption, Return On Funds Invested						14.00%		14.00%
Deferred financing costs						$ 3,100,000		$ 3,100,000
Interest expense								507,000	$ 507,000
Total unamortized deferred stock costs						$ 237,000		237,000		$ 592,000
Number of shares redeemed	1,000	1,000	1,000	1,000	300
Number of shares redeemed, value								$ 2,000,000		$ 2,300,000
Preferred stock shares outstanding (in shares)						30,700		30,700		32,700

Stockholders' Equity (Common an

Stockholders' Equity (Common and Preferred Stock) (Details)	6 Months Ended	63 Months Ended
	Jun. 30, 2017Vote$ / sharesshares	Dec. 31, 2011$ / sharesshares	Dec. 31, 2016$ / 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
Preferred shares issued (in shares)	0
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)	17,619,118		17,502,673
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	Jun. 30, 2017	Jun. 30, 2016
Cash Dividends [Abstract]
Cash dividends paid, net of reinvested stock dividends		$ 2,384,000	$ 2,145,000
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		$ 16,900,000
Common stock issued under dividend reinvestment plan (in shares)		1,777,469

Related Party Transaction (Narr

Related Party Transaction (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Pacific Oaks Plaza [Member] | Chairman and Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Rent revenue from an entity 100% owned by the Company's Chairman and Chief Executive Officer	$ 7,000	$ 7,000	$ 14,000	$ 14,000

Segments (Net Operating Income

Segments (Net Operating Income by Segment) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Net Operating Income [Abstract]
Rental income	$ 7,794,585	$ 7,658,273	$ 15,809,218	$ 15,909,341
Property and related expenses	(2,636,063)	(2,585,013)	(5,273,165)	(5,058,364)
Net operating income, as defined	5,882,011	5,221,261	11,491,436	11,179,927
General and administrative expenses	(1,439,820)	(1,232,319)	(2,629,837)	(2,462,730)
Depreciation and amortization	(2,443,817)	(2,499,630)	(4,947,333)	(5,159,161)
Interest expense	(3,311,421)	(3,501,199)	(6,627,617)	(6,864,243)
Interest income	5,829	46,593	15,097	68,332
Income tax expense	(13,746)	(76,152)	(108,356)	(144,700)
Gain on sale of real estate	1,485,589	1,213,060	2,027,051	1,388,545
Net income (loss)	164,625	(828,386)	(779,559)	(1,994,030)
Office/Industrial Properties [Member]
Net Operating Income [Abstract]
Rental income	6,535,722	6,200,968	12,779,101	13,194,587
Property and related expenses	(2,295,720)	(2,140,237)	(4,514,238)	(4,373,491)
Net operating income, as defined	4,240,002	4,060,731	8,264,864	8,821,096
Residential Properties [Member]
Net Operating Income [Abstract]
Rental income	930,062	567,281	1,806,607	955,681
Property and related expenses	(35,038)	(61,376)	(73,995)	(78,416)
Net operating income, as defined	895,024	505,905	1,732,612	877,265
Retail/Mixed Use Properties [Member]
Net Operating Income [Abstract]
Rental income	1,052,289	1,038,025	2,178,893	2,088,023
Property and related expenses	(305,304)	(383,400)	(684,933)	(606,457)
Net operating income, as defined	$ 746,985	$ 654,625	$ 1,493,960	$ 1,481,566

Segments (Assets) (Details)

Segments (Assets) (Details) - USD ($)		Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Segment Reporting Asset Reconciling Item [Line Items]
Land, buildings and improvements, net		$ 238,595,388	$ 246,969,993
Cash and cash equivalents		5,847,369	3,116,147	$ 5,518,204	$ 6,626,423
Other assets, net		5,451,230	5,745,982
TOTAL ASSETS		254,079,359	257,999,077
Significant Reconciling Items [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Other assets, net		9,636,602	7,912,937
Office/Industrial Properties [Member] | Operating Segments [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Land, buildings and improvements, net	[1]	162,357,260	172,309,537
TOTAL ASSETS	[2]	166,648,955	175,689,722
Residential Properties [Member] | Operating Segments [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Land, buildings and improvements, net	[1]	38,280,020	34,813,680
TOTAL ASSETS	[2]	39,265,806	35,960,179
Retail/Mixed Use Properties [Member] | Operating Segments [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Land, buildings and improvements, net	[1]	31,893,613	33,398,992
TOTAL ASSETS	[2]	$ 32,680,626	$ 35,320,092
[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 ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Abstract]
Acquisition of operating properties, net	$ 9,694,785	$ 7,768,755
Capital expenditures and tenant improvements	1,819,591	2,331,329
Total real estate investments	11,514,376	10,100,084
Office/Industrial Properties [Member]
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Abstract]
Capital expenditures and tenant improvements	1,783,814	2,309,976
Residential Properties [Member]
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Abstract]
Acquisition of operating properties, net	9,694,785	7,768,755
Retail/Mixed Use Properties [Member]
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Abstract]
Capital expenditures and tenant improvements	$ 35,777	$ 21,353