AEI Income & Growth Fund 25 10-Q 14 May 24 2024 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2024	May 15, 2024
Document Information Line Items
Entity Registrant Name	AEI INCOME & GROWTH FUND 25 LLC
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		36,986.36
Amendment Flag	false
Entity Central Index Key	0001185198
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Mar. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Entity File Number	000-50609
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-3074973
Entity Address, Address Line One	30 East 7th Street, Suite 1300
Entity Address, City or Town	St. Paul
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55101
City Area Code	651
Local Phone Number	227-7333
Entity Information, Former Legal or Registered Name	Not Applicable
Security Exchange Name	NONE
No Trading Symbol Flag	true
Title of 12(g) Security	Limited Liability Company Units
Entity Interactive Data Current	Yes
Document Transition Report	false

Balance Sheet

Balance Sheet - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Current Assets:
Cash	$ 1,537,744	$ 1,161,433
Real Estate Investments:
Land	5,868,790	5,868,790
Buildings	15,321,028	15,321,028
Acquired Intangible Lease Assets	2,178,056	2,178,056
Real Estate Held for Investment, at Cost	23,367,874	23,367,874
Accumulated Depreciation and Amortization	(8,594,355)	(8,394,725)
Real Estate Held for Investment, Net	14,773,519	14,973,149
Real Estate Held for Sale	0	405,977
Total Real Estate Investments	14,773,519	15,379,126
Total Assets	16,311,263	16,540,559
Current Liabilities:
Payable to AEI Fund Management, Inc.	179,481	249,999
Distributions Payable	278,969	284,538
Unearned Rent	23,327	57,573
Total Current Liabilities	481,777	592,110
Members’ Equity:
Managing Members	(70,264)	(66,695)
Limited Members – 50,000 Units authorized; 37,158.30 Units issued and outstanding as of 3/31/2024 and 12/31/2023	15,899,750	16,015,144
Total Members’ Equity	15,829,486	15,948,449
Total Liabilities and Members’ Equity	$ 16,311,263	$ 16,540,559

Balance Sheet (Parentheticals)

Balance Sheet (Parentheticals) - Limited Partner [Member] - shares	Mar. 31, 2024	Dec. 31, 2023
Limited Members, units authorized	50,000	50,000
Limited Members, units issued	37,158.3	37,158.3
Limited Members, units outstanding	37,158.3	37,158.3

Statement of Operations

Statement of Operations - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Rental Income	$ 422,584	$ 400,144
Expenses:
LLC Administration – Affiliates	69,800	80,589
LLC Administration and Property Management – Unrelated Parties	24,926	71,368
Depreciation and Amortization	179,978	190,343
Total Expenses	274,704	342,300
Operating Income	147,880	57,844
Other Income:
Gain on Sale of Real Estate	711	44,186
Interest Income	11,415	13,681
Total Other Income	12,126	57,867
Net Income	160,006	115,711
Net Income Allocated:
Managing Members	4,800	4,264
Limited Members	155,206	111,447
Net Income	$ 160,006	$ 115,711
Net Income per LLC Unit (in Dollars per share)	$ 4.18	$ 2.86
Weighted Average Units Outstanding – Basic and Diluted (in Shares)	37,158	38,962

Statement of Cash Flows

Statement of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash Flows from Operating Activities:
Net Income	$ 160,006	$ 115,711
Adjustments to Reconcile Net Income To Net Cash Provided by Operating Activities:
Depreciation and Amortization	199,630	211,626
Gain on Sale of Real Estate	(711)	(44,186)
(Increase) Decrease in Rent Receivable	0	1,751
Increase (Decrease) in Payable to AEI Fund Management, Inc.	(70,518)	62,515
Increase (Decrease) in Unearned Rent	(34,246)	13,119
Total Adjustments	94,155	244,825
Net Cash Provided By (Used For) Operating Activities	254,161	360,536
Cash Flows from Investing Activities:
Proceeds from Sale of Real Estate	406,688	1,418,133
Cash Flows from Financing Activities:
Distributions Paid to Members	(284,538)	(286,181)
Net Increase in Cash	376,311	1,492,488
Cash, beginning of period	1,161,433	1,762,822
Cash, end of period	$ 1,537,744	$ 3,255,310

Statement of Changes in Members

Statement of Changes in Members' Equity - USD ($)	General Partner [Member]	Limited Partner [Member]	Total
Balance at Dec. 31, 2022	$ 4,747	$ 18,711,412	$ 18,716,159
Balance (in Shares) at Dec. 31, 2022		38,961.72
Distributions Declared	(8,586)	$ (277,596)	(286,182)
Net Income	4,264	111,447	115,711
Balance at Mar. 31, 2023	425	$ 18,545,263	18,545,688
Balance (in Shares) at Mar. 31, 2023		38,961.72
Balance at Dec. 31, 2023			15,948,449
Balance (in Shares) at Dec. 31, 2023		37,158.3
Distributions Declared	(8,369)	$ (270,600)	(278,969)
Net Income	4,800	155,206	160,006
Balance at Mar. 31, 2024	$ (70,264)	$ 15,899,750	$ 15,829,486
Balance (in Shares) at Mar. 31, 2024		37,158.3

Basis of Accounting

Basis of Accounting	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Accounting [Text Block]	(1) The condensed statements included herein have been prepared by the registrant, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission, and reflect all adjustments which are, in the opinion of management, necessary to a fair statement of the results of operations for the interim period, on a basis consistent with the annual audited statements. The adjustments made to these condensed statements consist only of normal recurring adjustments. Certain information, accounting policies, and footnote disclosures normally included in financial statements prepared in accordance with United States Generally Accepted Accounting Principles (US GAAP) have been condensed or omitted pursuant to such rules and regulations, although the registrant believes that the disclosures are adequate to make the information presented not misleading. It is suggested that these condensed financial statements be read in conjunction with the financial statements and the summary of significant accounting policies and notes thereto included in the registrant’s latest annual report on Form 10‑K.

Organization

Organization	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	(2) Organization – AEI Income & Growth Fund 25 LLC (the “Company”), a Limited Liability Company, was formed on June 24, 2002 to acquire and lease commercial properties to operating tenants. The Company's operations are managed by AEI Fund Management XXI, Inc. (“AFM”), the Managing Member. Robert P. Johnson, the previous Chief Executive Officer and sole director of AFM, served as the Special Managing Member until his withdrawal date effective March 31, 2020. AFM is a wholly owned subsidiary of AEI Capital Corporation of which the Credit Trust fbo of Patricia Johnson and Patricia Johnson own a majority interest. AEI Fund Management, Inc. (“AEI”), an affiliate of AFM, performs the administrative and operating functions for the Company.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	(3) Recently Adopted Accounting Pronouncements – Accounting standards that have been issued or proposed by the Financial Accounting Standards Board are currently not applicable to the Company or are not expected to have a significant impact on the Company’s financial position, results of operations and cash flows.

Real Estate Investments

Real Estate Investments	3 Months Ended
	Mar. 31, 2024
Real Estate [Abstract]
Real Estate Disclosure [Text Block]	(4) Real Estate Investments – In September 2022, the Company entered into an agreement to sell its 60% interest in the Biomat property in Wichita, Kansas to an unrelated third party. The property was classified as real estate held for sale at December 31, 2022. On February 9, 2023, the sale closed with the Company receiving net proceeds of $1,418,133, which resulted in a net gain of $44,186. At the time of sale, the cost and related accumulated depreciation was $2,839,297 and $1,465,350, respectively. The Company owned a 100% interest in a Premier Diagnostic Imaging Center in Terre Haute, Indiana. In June 2023, the Company performed a long-lived asset valuation analysis and determined the Premier Diagnostic Imaging Center in Terre Haute, Indiana was impaired. As a result, in the second quarter of 2023, the Company recognized real estate impairment of $90,000 to decrease the carrying value to the estimated fair value of $1,401,977. The charge was recorded against the land, building, in-place lease and above market lease. In December 2023, the Company performed another long-lived asset valuation analysis and determined the Premier Diagnostic Imaging Center in Terre Haute, Indiana was impaired. As a result, in the fourth quarter of 2023, the Company recognized real estate impairment of $996,000 to decrease the carrying value to the estimated fair value of $405,977. The charge was recorded against the land, building, in-place lease and above market lease. This property was classified as Real Estate Held for Sale on the balance sheet as of December 31, 2023 with a carrying value of $405,977. In November 2023, the Company entered into an agreement to sell its 100% interest in the Premier Diagnostic Imaging Center in Terre Haute, Indiana. On January 2, 2024, the sale closed with the Company receiving net proceeds of $406,688, which resulted in a net gain of $711. At the time of sale, the cost and related accumulated depreciation was $1,248,000 and $842,023, respectively.

Payable to AEI Fund Management,

Payable to AEI Fund Management, Inc.	3 Months Ended
	Mar. 31, 2024
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	(5) Payable to AEI Fund Management, Inc. – AEI Fund Management, Inc. performs the administrative and operating functions for the Company. The payable to AEI Fund Management represents the balance due for those services. This balance is non-interest bearing and unsecured and is to be paid in the normal course of business.

Members' Equity

Members' Equity	3 Months Ended
	Mar. 31, 2024
Disclosure Text Block Supplement [Abstract]
Members' Equity Notes Disclosure [Text Block]	(6) Members’ Equity – For the three months ended March 31, 2024 and 2023, the Company declared distributions of $278,969 and $286,182, respectively. The Limited Members were allocated distributions of $270,600 and $277,596 and the Managing Members were allocated distributions of $8,369 and $8,586 for the periods ended March 31, 2024 and 2023, respectively. The Limited Members’ distributions represented $7.28 and $7.12 per LLC Unit outstanding using 37,158 and 38,962 weighted average Units for the three months ended March 31, 2024 and 2023, respectively. The distributions represented $4.18 and $2.86 per Unit of Net Income and $3.10 and $4.26 per Unit of return of contributed capital in 2024 and 2023, respectively. 8 AEI INCOME & GROWTH FUND 25 LLC CONDENSED NOTES TO FINANCIAL STATEMENT

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	(7) Fair Value Measurements – At March 31, 2024, the Company had no financial assets or liabilities measured at fair value on a recurring basis or nonrecurring basis. At December 31, 2023, the Company had one property measured on a nonrecurring basis that was recorded at fair value during 2023. The fair value of the Premier Diagnostic Imaging Center in Terre Haute, Indiana was based upon a signed purchase agreement, which is considered a Level 2 input in the valuation hierarchy. A Level 2 input includes quoted market prices for similar assets, quoted market prices in an inactive market, and other observable information that can be corroborated by market data.

Real Estate Investments (Detail

Real Estate Investments (Details) - USD ($)				3 Months Ended
	Jan. 02, 2024	Dec. 31, 2023	Feb. 09, 2023	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
Real Estate Investments (Details) [Line Items]
Gain (Loss) on Disposition of Assets				$ 711		$ 44,186
Premier Diagnostics Terre Haute IN "Member"
Real Estate Investments (Details) [Line Items]
Impairment of Real Estate		$ 996,000			$ 90,000
Property, Plant, and Equipment, Fair Value Disclosure					$ 1,401,977
Biomat Wichita KS 'Member"
Real Estate Investments (Details) [Line Items]
Disposal Date			Feb. 09, 2023
Proceeds from Sale of Real Estate			$ 1,418,133
Gain (Loss) on Disposition of Assets			44,186
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Cost of Investment in Real Estate Sold			2,839,297
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation			$ 1,465,350
Premier Diagnostics Terre Haute IN "Member"
Real Estate Investments (Details) [Line Items]
Proceeds from Sale of Real Estate	$ 406,688
Gain (Loss) on Disposition of Assets	711
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation	842,023
Property, Plant, and Equipment, Fair Value Disclosure		$ 405,977
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Other Deduction	$ 1,248,000

Members' Equity (Details)

Members' Equity (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Members' Equity (Details) [Line Items]
Distribution Made to Limited Partner, Cash Distributions Declared	$ 278,969	$ 286,182
General Partner Distributions	$ 8,369
Weighted Average Limited Partnership Units Outstanding, Basic (in Shares)	37,158
Limited Partner [Member]
Members' Equity (Details) [Line Items]
Distribution Made to Limited Partner, Cash Distributions Declared	$ 270,600	$ 277,596
Weighted Average Limited Partnership Units Outstanding, Basic (in Shares)	7.28	38,962
Distribution Made to Limited Partner, Distributions Declared, Per Unit (in Dollars per share)		$ 7.12
DistributionsPerUnitOfNetIncome (in Dollars per share)	$ 4.18	2.86
DistributionsPerUnitOfReturnOfCapital (in Dollars per share)	$ 3.1	$ 4.26
General Partner [Member]
Members' Equity (Details) [Line Items]
Distribution Made to Limited Partner, Cash Distributions Declared	$ 8,369	$ 8,586
General Partner Distributions		$ 8,586

Uncategorized Items - aei25-202

Label	Element	Value
Limited Partner [Member]
Partners' Capital	us-gaap_PartnersCapital	$ 16,015,144
General Partner [Member]
Partners' Capital	us-gaap_PartnersCapital	$ (66,695)