MVP REIT 10-K 24 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Mar. 21, 2017	Jun. 30, 2016
Document And Entity Information
Entity Registrant Name	MVP REIT, Inc.
Entity Central Index Key	1,546,609
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$ 99,766,791
Entity Common Stock, Shares Outstanding		10,978,745
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,016

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2016	Dec. 31, 2015
ASSETS
Cash	$ 4,112,000	$ 10,511,000
Cash - restricted	1,712,000	1,133,000
Accounts receivable	117,000	42,000
Prepaid expenses	444,000	316,000
Deferred rental assets	93,000	159,000
Investments in real estate and fixed assets
Land and improvements	66,484,000	44,507,000
Building and improvements	49,973,000	43,010,000
Fixed assets	88,000	88,000
Gross investments in real estate and fixed assets:	116,545,000	87,605,000
Accumulated depreciation	(2,128,000)	(865,000)
Total investments in real estate and fixed assets, net	114,417,000	86,740,000
Due from related party	462,000
Deposits	1,519,000	16,010,000
Other assets	121,000	140,000
Investment in equity method investee	4,123,000
Assets held for sale	6,100,000
Total assets	133,220,000	115,051,000
Liabilities
Accounts payable and accrued liabilities	959,000	462,000
Deferred revenue	55,000	25,000
Due to related parties		7,000
Security deposits	248,000	211,000
Line of credit, net of unamortized loan issuance costs of $164,000 as of December 31, 2016	4,646,000
Notes payable, net of unamortized loan issuance cost of $1,106,000 and $534,000 at December 31, 2016 and 2015, respectively	49,417,000	28,177,000
Total liabilities	55,325,000	28,882,000
Commitments and contingencies
Equity
Preferred stock, $0.001 par value, 1,000,000 shares authorized, none issued and outstanding
Common stock, $0.001 par value, 98,999,000 shares authorized, 10,952,325 and 11,002,902 shares issued and outstanding as of December 31, 2016 and 2015, respectively and Non-voting, non-participating convertible stock, $0.001 par value, 1,000 shares authorized, issued and outstanding as of December 31, 2016 and 2015	11,000	11,000
Additional paid-in capital	90,156,000	97,277,000
Accumulated deficit	(16,191,000)	(12,925,000)
Total MVP REIT, Inc. Shareholders' Equity	73,976,000	84,363,000
Non-controlling interest	3,919,000	1,806,000
Total equity	77,895,000	86,169,000
Total liabilities and equity	133,220,000	115,051,000
Non-Voting, Non-Participating Convertible Stock [Member]
Equity
Common stock, $0.001 par value, 98,999,000 shares authorized, 10,952,325 and 11,002,902 shares issued and outstanding as of December 31, 2016 and 2015, respectively and Non-voting, non-participating convertible stock, $0.001 par value, 1,000 shares authorized, issued and outstanding as of December 31, 2016 and 2015

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Line of credit, Unamortized Loan Issuance Cost	$ 164,000
Notes Payable, Unamortized Loan Issuance Cost	$ 1,106,000	$ 534,000
Preferred stock par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock par value	$ 0.001	$ 0.001
Common stock, shares authorized	98,999,000	98,999,000
Common stock, shares issued	10,952,325	11,002,902
Common stock, shares outstanding	10,952,325	11,002,902
Non-Voting, Non-Participating Convertible Stock [Member]
Common stock par value	$ 0.001	$ 0.001
Common stock, shares authorized	1,000	1,000
Common stock, shares issued	1,000	1,000
Common stock, shares outstanding	1,000	1,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues
Rental revenue	$ 8,592,000	$ 4,650,000	$ 658,000
Total revenues	8,592,000	4,650,000	658,000
Operating expenses
General and administrative	1,791,000	910,000	775,000
Acquisition expenses	1,000,000	700,000	235,000
Acquisition expenses - related party	1,500,000	2,600,000	1,898,000
Operation and maintenance	1,980,000	421,000	43,000
Operation and maintenance - related party	1,055,000	566,000	379,000
Impairment of investment in real estate	100,000
Loan payoff fee	587,000
Depreciation and amortization expenses	1,263,000	799,000	44,000
Total operating expenses	9,315,000	6,023,000	3,374,000
Loss from operations	(723,000)	(1,373,000)	(2,716,000)
Other income and expense
Interest expense	(2,381,000)	(1,313,000)	(169,000)
Income from investment in equity method investee	116,000		6,000
Loss on acquisition in real estate	(2,000)
Interest income	1,000		127,000
Total other expense	(2,266,000)	(1,313,000)	(36,000)
Loss from continuing operations	(2,989,000)	(2,686,000)	(2,752,000)
Discontinued operations, net of income taxes
Income (loss) from assets held for sale, net of income taxes	(244,000)	214,000	876,000
Gain on sale of investment in real estate held for sale		1,260,000	44,000
Income from discontinued operations	(244,000)	1,474,000	920,000
Provision for income taxes
Net loss	(3,233,000)	(1,212,000)	(1,832,000)
Net income attributable to non-controlling interest - related party	33,000	148,000	5,000
Net loss attributable to common stockholders	$ (3,266,000)	$ (1,360,000)	$ (1,837,000)
Basic and diluted loss per weighted average common share
Loss from continuing operations attributable to MVP REIT common stockholders - basic and diluted	$ (0.27)	$ (0.36)	$ (0.76)
Income (loss) from discontinued operations - basic and diluted	(0.03)	0.18	0.25
Net income (loss) attributable to MVP REIT common stockholders - basic and diluted	(0.3)	(0.18)	(0.51)
Distributions declared per common share	$ 0.6	$ 0.58	$ 0.56
Weighted average common shares outstanding, basic and diluted	10,999,713	7,502,606	3,639,056

Consolidated Statements Of Equi

Consolidated Statements Of Equity - USD ($)	Convertible Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Non-controlling Interest Related Party	Total
Beginning Balance at Dec. 31, 2013		$ 3,000	$ 32,386,000	$ (9,728,000)	$ 1,187,000	$ 23,848,000
Balance (Shares) at Dec. 31, 2013	1,000	2,909,819
Issuance of common stock - purchases		$ 1,000	10,866,000			10,867,000
Issuance of common stock - purchases (Shares)		1,246,458
Redeemed shares			(95,000)			(95,000)
Redeemed shares (Shares)		(10,610)
Issuance of common stock - Distribution/DRIP			278,000			278,000
Issuance of common stock - Distribution/DRIP (Shares)		31,893
Non-controlling interest					527,000	527,000
Distributions - cash			(2,016,000)			(2,016,000)
Contribution from Advisor related to reduction of due to related parties			595,000			595,000
Distributions to Noncontrolling interest
Distribution - loan proceeds to non-controlling interest
Net income (loss)				(1,837,000)	5,000	(1,832,000)
Balance at Dec. 31, 2014		$ 4,000	42,114,000	(11,565,000)	1,719,000	32,272,000
Balance (Shares) at Dec. 31, 2014	1,000	4,188,956
Issuance of common stock - purchases		$ 7,000	58,463,000			58,470,000
Issuance of common stock - purchases (Shares)		6,697,261
Redeemed shares			(376,000)			(376,000)
Redeemed shares (Shares)		(42,700)
Issuance of common stock - Distribution/DRIP			1,391,000			1,391,000
Issuance of common stock - Distribution/DRIP (Shares)		159,385
Distributions - cash			(4,315,000)			(4,315,000)
Distributions to Noncontrolling interest					(61,000)	(61,000)
Distribution - loan proceeds to non-controlling interest
Net income (loss)				(1,360,000)	148,000	(1,212,000)
Balance at Dec. 31, 2015		$ 11,000	97,277,000	(12,925,000)	1,806,000	$ 86,169,000
Balance (Shares) at Dec. 31, 2015	1,000	11,002,902				11,002,902
Redeemed shares				(1,606,000)		$ (1,606,000)
Redeemed shares (Shares)		(177,679)				191,184
Issuance of common stock - Distribution/DRIP			1,122,000			$ 1,122,000
Issuance of common stock - Distribution/DRIP (Shares)		127,102
Non-controlling interest					3,991,000	3,991,000
Distributions - cash			(6,637,000)			(6,637,000)
Distributions to Noncontrolling interest					(103,000)	(103,000)
Distribution - loan proceeds to non-controlling interest					1,058,000	1,058,000
Net income (loss)				(3,266,000)	33,000	(3,233,000)
Balance at Dec. 31, 2016		$ 11,000	$ 90,156,000	$ (16,191,000)	$ 3,919,000	$ 77,895,000
Balance (Shares) at Dec. 31, 2016	1,000	10,952,325				10,952,325

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net loss	$ (3,233,000)	$ (1,212,000)	$ (1,832,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expenses	1,263,000	799,000	44,000
Amortization of loan costs	195,000	83,000	26,000
Impairment of Investment in real estate	100,000
Income from investment in equity method investee	(116,000)		(6,000)
Acquisition expense - related party			1,336,000
Other loss			(127,000)
Gain on sale of investment in real estate			(44,000)
Change in operating assets and liabilities:
Restricted cash	(579,000)	(745,000)
Prepaid expenses	(128,000)	(70,000)	(36,000)
Deferred rental assets	(48,000)	(132,000)	(27,000)
Accounts receivable	39,000	(42,000)
Other assets	19,000	(13,000)	(473,000)
Capitalized loan fees	(933,000)	(180,000)	30,000
Contingent Liabilities			(100,000)
Security deposits	37,000	211,000
Assets held for sale		(1,574,000)	(342,000)
Due to related parties	(469,000)	(9,000)	(1,165,000)
Deferred revenue	30,000	25,000
Accounts payable and accrued liabilities	501,000	401,000	(63,000)
Net cash used in operating activities	(3,322,000)	(2,458,000)	(2,779,000)
Cash flows from investing activities:
Purchase of investment in real estate	(28,708,000)	(48,649,000)	(14,958,000)
Purchase of asset held for sale	(6,100,000)
Deposits applied to purchase of investment in real estate	15,991,000
Investment in equity method investee	(6,584,000)
Payment of deposits on future acquisitions	(1,500,000)	(15,710,000)
Proceeds from loan on equity method investee			475,000
Proceeds from loan on cost method investee			132,000
Proceeds received through asset transfer transaction			1,291,000
Proceeds from sale of investment in real estate and fixed assets			10,436,000
Proceeds from sale of assets held for sale		9,746,000
Acquisition of fixed assets			(7,000)
Building improvements	(332,000)	(165,000)
Net cash used in investing activities	(27,233,000)	(54,778,000)	(2,631,000)
Cash flows from financing activities:
Proceeds from issuance of common stock, net of commissions		58,470,000	10,867,000
Proceeds from promissory note	34,696,000	3,882,000	9,232,000
Capital contribution from non-controlling interest			1,800,000
Capital contribution from non-controlling interest - related party	3,991,000		3,000,000
Purchase of non-controlling interest	(750,000)
Payments on notes payable	(12,885,000)	(758,000)	(339,000)
Payments on note payable - related party			(900,000)
Payments on notes payable held for sale		(4,298,000)	(21,118,000)
Proceeds from line of credit	4,810,000
Proceeds from loan on investment in equity method	2,525,000
Proceeds from notes payable on assets held for sale			16,968,000
Distribution received from investment in equity method	51,000
Distribution to non-controlling interest	(1,161,000)	(61,000)
Redeemed Shares	(1,606,000)	(376,000)	(95,000)
Stockholders' distributions	(5,515,000)	(2,924,000)	(1,738,000)
Net cash provided by financing activities	24,156,000	53,935,000	17,677,000
Net change in cash	(6,399,000)	(3,301,000)	12,267,000
Cash and cash equivalents, beginning of period	10,511,000	13,812,000	1,545,000
Cash and cash equivalents, end of period	4,112,000	10,511,000	13,812,000
Supplemental disclosures of cash flows information:
Interest paid	2,381,000	1,313,000	143,000
Non-cash investing and financing activities:
Distributions - DRIP	1,122,000	1,391,000	278,000
Reduction of debt by Advisor and related party recognized as a contribution			595,000
Contingent acquisition liability assumed in acquisition			100,000
Investment in real estate and fixed assets acquired by assumption of existing note payable		12,180,000
Capitalized loan fees related to promissory note	$ 744,000

Organization, Proposed Business

Organization, Proposed Business Operations and Capitalization	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Proposed Business Operations and Capitalization	Note A — Organization, Proposed Business Operations and Capitalization Organization and Business MVP REIT, Inc. (the “Company” or “MVP”) was incorporated on April 3, 2012 as a Maryland corporation, and has elected to be taxed, and operates in a manner that will allow the Company to qualify as a real estate investment trust (“REIT”) for U.S. federal income tax purposes beginning with the taxable year ended December 31, 2013. Pursuant to its initial public offering (the “Offering”), which closed in September 2015, the Company issued 10,856,323 shares of its common stock for which it received net proceeds of approximately $97.0 million. Of this amount, approximately $19.5 million of shares were issued in consideration of the contribution of commercial properties to the Company. The Company has also registered up to $50 million for the issuance of common stock pursuant to a distribution reinvestment plan (the “DRIP”) under which common stockholders may elect to have their distributions reinvested in additional shares of common stock. The Company operates as a real estate investment trust (“REIT”). The Company is not a mutual fund or an investment company within the meaning of the Investment Company Act of 1940, nor is the Company subject to any regulation thereunder. As a REIT, the Company is required to have a December 31 st The Company’s investment strategy was originally to invest available net proceeds from its Offering in direct investments in real property and real estate secured loans that meet the Company’s investment objectives and strategies. In March 2014, the Company’s board of directors approved a plan to increase the focus of the Company’s investment strategy on parking and self-storage facilities located throughout the United States as the Company’s core assets. As part of this strategy, the Company exchanged office properties with affiliated entities to exchange all of its ownership interests in certain non-core assets (consisting of four office buildings) for all of the affiliated entities’ ownership interests in five parking facilities and one self-storage facility. The property exchanges were consummated on April 30, 2014. In June 2014, the Company’s board decided to further focus its efforts primarily on parking facilities. Additionally, during July and August, 2014, the Company sold its membership interest in the two remaining office buildings owned by the Company to affiliates of its advisor, Vestin Realty Mortgage I, Inc., a Maryland corporation and OTC Pink Sheets-listed company (“VRM I”) and Vestin Realty Mortgage II, Inc., a Maryland corporation and Nasdaq-listed company that has provided notice of its intent to delist from Nasdaq on or about March 30, 2017 (“VRM II”). The Company may, from time to time, invest in non-core assets, including investments in companies that manage real estate or mortgage investment companies; however, the Company has agreed that no more than 25% of the gross proceeds from the Offering will be used to invest in real properties other than parking facilities. In June 2016, the Company and MVP REIT II, Inc. (“MVP REIT II”) jointly announced the engagement of Ladenburg Thalmann & Co., Inc. to assist in evaluating various courses of action intended to enhance stockholder liquidity and value. In connection with the engagement, the Company decided to defer taking further action to list the Company’s common shares on the NASDAQ Global Market until Ladenburg Thalmann completes its evaluation. The Company’s board had authorized taking such action in March 2016. After reviewing the Ladenburg Thalmann’s completed evaluation, the Company’s board of directors will decide whether to proceed with a listing on the NASDAQ Global Market or take other action to enhance stockholder liquidity and value. The Company currently expects that no decision on this matter will be made until the second fiscal quarter of 2017. Following the Company’s engagement of Ladenburg Thalmann, the Company’s board of directors approved the reinstatement DRIP in July 2016, since no decision on liquidity is expected during the second fiscal quarter of 2017. There can be no assurance as to if or when the Company will again pursue a listing or another liquidity transaction. The Company’s sponsor is MVP Capital Partners, LLC (“MVPCP” or the “Sponsor”), an entity owned and managed by Michael V. Shustek, the Company’s Chairman and Chief Executive Officer. The Company’s advisor is MVP Realty Advisors, LLC (the “Advisor”). VRM II owns 60% of the Advisor, and the remaining 40% is owned by VRM I. Michael Shustek owns a significant majority of Vestin Mortgage, LLC, a Nevada limited liability company, which is the manager of VRM I and VRM II. The Advisor is responsible for managing the Company’s affairs on a day-to-day basis and for identifying and making investments on the Company’s behalf pursuant to an advisory agreement between the Company and the Advisor (the “Advisory Agreement”). The Company is the sole member of its operating limited liability company, MVP Real Estate Holdings, LLC, a Nevada limited liability company (“REH”). Substantially all of the Company’s business is conducted through our wholly owned subsidiary REH. The operating agreement provides that REH is operated in a manner that enables the Company to (1) satisfy the requirements for being classified as a REIT for tax purposes, (2) avoid any federal income or excise tax liability, and (3) ensure that REH is not classified as a “publicly traded partnership” for purposes of Section 7704 of the Internal Revenue Code, which classification could result in REH being taxed as a corporation. Estimated Value Per Share As previously reported on April 7, 2016, the Company’s board of directors determined an estimated net asset value of approximately $100.8 million or $9.14 per common share as of March 30, 2016. Shares in the initial public offering were sold at $9.00 per share. In determining an estimated value per share of the Company’s common stock, the Company’s board of directors relied upon information provided by MVP Realty Advisors, LLC, the Company’s advisor and the board’s experience with, and knowledge of, the Company’s real property and other assets. The Company is providing the estimated value per share to assist broker-dealers and stockholders pursuant to certain rules of the Financial Industry Regulatory Authority, Inc., or FINRA. The objective of the board of directors in determining the estimated value per share was to arrive at a value, based on recent available data, that it believed was reasonable based on methods that it deemed appropriate after consultation with the Advisor. Accordingly, the Company’s advisor performed the valuation of the Company’s common stock with Practice Guideline 2013-01, Valuations of Publicly Registered Non-Listed REITs Starting April 11, 2016, the NAV of $9.14 per common share has been used for purposes of effectuating permitted redemptions of the Company’s common stock and issuing shares pursuant to the Company’s distribution reinvestment plan. Distributions On October 3, 2012, the Company confirmed that its board of directors had approved a plan for payment of initial monthly cash distributions of $0.045 per share. On January 25, 2013, the Company issued a press release announcing that its board of directors had approved an increase in its monthly distribution rate on its common shares to an annualized distribution rate of 6.2 percent, or $0.558 per share annually or $0.0465 monthly, assuming a purchase price of $9.00 per share. The distribution, previously 6 percent, increased beginning with the January 2013 distribution, paid to stockholders of record as of January 24, 2013 on February 10, 2013. On June 4, 2013, the Company issued a press release announcing that its board of directors has approved an increase in its monthly distribution rate on its common shares to an annualized distribution rate of 6.7 percent, assuming a purchase price of $9.00 per share or $0.05025 monthly. The Company anticipates paying future distributions monthly in arrears, with a record date on the 24th of each month and distributions paid on the 10th day of the following month (or the next business day if the 10th is not a business day). Starting April 11, 2016, the NAV of $9.14 per common share has been used for purposes of effectuating permitted redemptions of the Company’s common stock and issuing shares pursuant to the Company’s distribution reinvestment plan. From inception through December 31, 2016, the Company has paid approximately $13.6 million in distributions including approximately $2.9 million in DRIP distributions to the Company’s stockholders, all of which have been paid from offering proceeds and constituted a return of capital. The Company may pay distributions from sources other than cash flow from operations, including proceeds from the Offering, the sale of assets, or borrowings. The Company has no limits on the amounts it may pay from such sources. If the Company continues to pay distributions from sources other than cash flow from operations, the funds available to the Company for investments would be reduced and the share value may be diluted. Capitalization As of December 31, 2016 the Company had 10,952,325 shares of common stock issued and outstanding and 1,000 shares of non-voting, non-participating convertible stock, $0.001 par value, issued and outstanding (the “Convertible Stock”). Upon formation, the Company sold 22,222 shares of common stock to the Sponsor for $200,000. In addition, upon the commencement of our offering, we issued 1,000 shares of the Convertible Stock to our advisor. After giving effect to the release of waivers and waiver agreements executed in August and September of 2014, all of which were previously disclosed in Form 8-Ks and prospectus supplements, the Convertible Stock will convert into shares of our common stock representing 3.50% of the outstanding shares of our common stock immediately preceding the conversion if and when: (a) the Company has made total distributions on the then outstanding common shares equal to the invested capital attributable to those shares plus a 6.00% cumulative, non-compounded, annual pre-tax return on such invested capital; or (b) (i) the Company lists its common shares for trading on a national securities exchange and (ii) (x) the sum of the aggregate market value of the issued and outstanding common shares plus the aggregate amount of all distributions on the Company’s common shares exceeds (y) the sum of the aggregate capital contributed by investors (less any capital returned in the form of distributions) plus an amount equal to a 6% cumulative, pre-tax non-compounded annual return to investors; or (c) the advisory agreement is terminated or not renewed, but only if at the time of such termination or non-renewal, the requirements for conversion set forth in either of the immediately preceding clause (a) or (b) also shall have been satisfied. For purposes of such calculation, the market value of the Company’s outstanding common stock will be calculated based on the average market value of the shares of common stock issued and outstanding at listing over the 30 trading days beginning 180 days after the shares are first listed for trading on a national securities exchange. Pursuant to the DRIP, stockholders may elect to reinvest distributions by purchasing shares of common stock in lieu of receiving distributions. No dealer manager fees or selling commissions are paid with respect to shares purchased pursuant to the DRIP. Participants purchasing shares pursuant to the DRIP have the same rights and are treated in the same manner as if such shares were issued pursuant to the Offering. The board of directors may designate that certain cash or other distributions be excluded from the DRIP. The Company has the right to amend any aspect of the DRIP or terminate the DRIP with ten days’ notice to participants. Shares issued under the DRIP are recorded to equity in the accompanying balance sheets in the period distributions are declared. An investor’s participation in the DRIP will terminate automatically if the Company dishonors, or partially dishonors, any requests by such investor to redeem shares of its common stock in accordance with the Company’s share repurchase program. As of December 31, 2016, a total of 326,991 common shares have been issued under the DRIP. In addition, the Company has a Share Repurchase Program (“SRP”) that may provide stockholders who generally have held their shares for at least one year an opportunity to sell their shares to the Company, subject to certain restrictions and limitations. On April 11, 2016, the Company established an estimated value per share of common stock of $9.14. The Company will repurchase shares at 100% of the estimated value per share. The number of shares to be repurchased during a calendar quarter is limited to the lesser of: (i) 2.0% of the number of shares of common stock outstanding on December 31 st st th th st exceeds the amount allowable for 2016 repurchase and will be paid in April 2017 which will be the next date shares will be available for repurchase.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note B — Summary of Significant Accounting Policies Basis of Accounting The consolidated financial statements of the Company are prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“GAAP”). In the opinion of management, all normal recurring adjustments considered necessary to give a fair presentation of operating results for the periods presented have been included. Consolidation The Company’s consolidated financial statements include its accounts and the accounts of its subsidiaries, REH and all of the following subsidiaries as well as the Company’s assets that were sold during 2015. All intercompany profits and losses, balances and transactions are eliminated in consolidation. MVP PF Ft. Lauderdale 2013, LLC MVP PF Memphis Court 2013, LLC MVP PF Memphis Poplar 2013, LLC MVP PF St. Louis 2013, LLC MVP PF Kansas City 2013, LLC Mabley Place Garage; LLC MVP Denver Sherman; LLC MVP Fort Worth Taylor, LLC MVP Milwaukee Old World, LLC MVP St. Louis Convention Plaza, LLC MVP Houston Saks Garage, LLC MVP St. Louis Lucas, LLC MVP Milwaukee Wells, LLC MVP Wildwood NJ Lot, LLC MVP Indianapolis City Park Garage, LLC MVP KC Cherry Lot, LLC MVP Indianapolis Washington Street Lot, LLC Minneapolis Venture, LLC MVP Indianapolis Meridian, LLC MVP Milwaukee Clybourn, LLC MVP Milwaukee Arena, LLC MVP Clarksburg Lot, LLC MVP Denver 1935 Sherman, LLC MVP Bridgeport Fairfield, LLC Minneapolis City Parking MVP Houston Preston Lot, LLC Under GAAP, the Company’s consolidated financial statements will also include the accounts of its consolidated subsidiaries and joint ventures in which the Company is the primary beneficiary, or in which the Company has a controlling interest. In determining whether the Company has a controlling interest in a joint venture and the requirement to consolidate the accounts of that entity, the Company’s management considers factors such as an entity’s purpose and design and the Company’s ability to direct the activities of the entity that most significantly impacts the entity’s economic performance, ownership interest, board representation, management representation, authority to make decisions, and contractual and substantive participating rights of the partners/members as well as whether the entity is a variable interest entity in which it will absorb the majority of the entity’s expected losses, if they occur, or receive the majority of the expected residual returns, if they occur, or both. Equity investments in which the Company exercises significant influence but does not control and is not the primary beneficiary are accounted for using the equity method. The Company's share of its equity method investees' earnings or losses is included in other income in the accompanying consolidated statements of operations. Investments in which the Company is not able to exercise significant influence over the investee are accounted for under the cost method. 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 disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management makes significant estimates regarding revenue recognition, purchase price allocations to record investments in real estate, and derivative financial instruments and hedging activities, as applicable. Concentration The Company had nine, six and two different parking tenants as of December 31, 2016, 2015 and 2014, respectively. One tenant, Standard Parking Plus (“SP+”), represented a concentration for the years ended December 31, 2016, 2015 and 2014 in regards to parking base rental revenue. During the year ended December 31, 2016, 2015 and 2014, SP+ accounted for 68%, 76% and 83%, respectively, of the parking base rental revenue. Acquisitions The Company records the acquired tangible and intangible assets and assumed liabilities of acquisitions of all operating properties and those development and redevelopment opportunities that meet the accounting criteria to be accounted for as business combinations at fair value at the acquisition date. The Company assesses and considers fair value based on estimated cash flow projections that utilize available market information and discount and/or capitalization rates that the Company deems appropriate. Estimates of future cash flows are based on a number of factors including historical operating results, known and anticipated trends, and market and economic conditions. The acquired assets and assumed liabilities for an operating property acquisition generally include but are not limited to: land, buildings and improvements, construction in progress and identified tangible and intangible assets and liabilities associated with in-place leases, including tenant improvements, leasing costs, value of above-market and below-market operating leases and ground leases, acquired in-place lease values and tenant relationships, if any. The fair value of land is derived from comparable sales of land within the same submarket and/or region. The fair value of buildings and improvements, tenant improvements, and leasing costs are based upon current market replacement costs and other relevant market rate information. The fair value of the above-market or below-market component of an acquired in-place operating lease is based upon the present value (calculated using a market discount rate) of the difference between (i) the contractual rents to be paid pursuant to the lease over its remaining non-cancellable lease term and (ii) management's estimate of the rents that would be paid using fair market rental rates and rent escalations at the date of acquisition measured over the remaining non-cancellable term of the lease for above-market operating leases and the initial non-cancellable term plus the term of any below-market fixed rate renewal options, if applicable, for below-market operating leases. The amounts recorded for above-market operating leases are included in deferred leasing costs and acquisition-related intangibles, net on the balance sheet and are amortized on a straight-line basis as a reduction of rental income over the remaining term of the applicable leases. The amounts recorded for below-market operating leases are included in deferred revenue and acquisition-related liabilities, net on the balance sheet and are amortized on a straight-line basis as an increase to rental income over the remaining term of the applicable leases plus the term of any below-market fixed rate renewal options, if applicable. Our below-market operating leases generally do not include fixed rate or below-market renewal options. The fair value of acquired in-place leases is derived based on management's assessment of lost revenue and costs incurred for the period required to lease the “assumed vacant” property to the occupancy level when purchased. This fair value is based on a variety of considerations including, but not necessarily limited to: (1) the value associated with avoiding the cost of originating the acquired in-place leases; (2) the value associated with lost revenue related to tenant reimbursable operating costs estimated to be incurred during the assumed lease-up period; and (3) the value associated with lost rental revenue from existing leases during the assumed lease-up period. Factors considered by us in performing these analyses include an estimate of the carrying costs during the expected lease-up periods, current market conditions, and costs to execute similar leases. In estimating carrying costs, the Company includes real estate taxes, insurance and other operating expenses, and estimates of lost rental revenue during the expected lease-up periods based on current market demand at market rates. In estimating costs to execute similar leases, the Company considers leasing commissions, legal and other related expenses. The amount recorded for acquired in-place leases is included in deferred leasing costs and acquisition-related intangibles, net on the balance sheet and amortized as an increase to depreciation and amortization expense over the remaining term of the applicable leases. If a lease were to be terminated or if termination were determined to be likely prior to its contractual expiration (for example resulting from bankruptcy), amortization of the related unamortized in-place lease intangible would be accelerated. The determination of the fair value of any debt assumed in connection with a property acquisition is estimated by discounting the future cash flows using interest rates available for the issuance of debt with similar terms and remaining maturities. The determination of the fair value of the acquired tangible and intangible assets and assumed liabilities of operating property acquisitions requires us to make significant judgments and assumptions about the numerous inputs discussed above. The use of different assumptions in these fair value calculations could significantly affect the reported amounts of the allocation of our acquisition related assets and liabilities and the related amortization and depreciation expense recorded for such assets and liabilities. In addition, because the value of above and below market leases are amortized as either a reduction or increase to rental income, respectively, our judgments for these intangibles could have a significant impact on our reported rental revenues and results of operations. Costs directly associated with all operating property acquisitions and those development and redevelopment acquisitions that meet the accounting criteria to be accounted for as business combinations are expensed as incurred. During the year ended December 31, 2016, the Company expensed approximately $1.5 million related party acquisition costs and $1.0 million of non-related party acquisition costs, for the purchase of or investment in 12 properties. During the year ended December 31, 2015, the Company expensed approximately $2.6 million of related party and $0.7 million non-related party acquisition costs, for the purchase of 12 properties. During the year ended December 31, 2014, the Company expensed approximately $1,898,000 of related party and $235,000 non-related party acquisition costs based on the level of our acquisition activity. Our acquisition expenses are directly related to our acquisition activity and if our acquisition activity was to increase or decrease, so would our acquisition costs. Costs directly associated with development acquisitions accounted for as asset acquisitions are capitalized as part of the cost of the acquisition. During the years ended December 31, 2016, 2015 and 2014, the Company did not capitalize any such acquisition costs. Impairment of Long Lived Assets When circumstances indicate the carrying value of a property may not be recoverable, the Company reviews the asset for impairment. This review is based on an estimate of the future undiscounted cash flows, excluding interest charges, expected to result from the property’s use and eventual disposition. These estimates consider factors such as expected future operating income, market and other applicable trends and residual value, as well as the effects of leasing demand, competition and other factors. If impairment exists, due to the inability to recover the carrying value of a property, an impairment loss is recorded to the extent that the carrying value exceeds the estimated fair value of the property for properties to be held and used. For properties held for sale, the impairment loss is the adjustment to fair value less estimated cost to dispose of the asset. These assessments have a direct impact on net income because recording an impairment loss results in an immediate negative adjustment to net income. Derivative Instruments The Company may use derivative financial instruments to hedge all or a portion of the interest rate risk associated with its borrowings. Certain techniques used to hedge exposure to interest rate fluctuations may also be used to protect against declines in the market value of assets that result from general trends in debt markets. The principal objective of such agreements is to minimize the risks and/or costs associated with the Company’s operating and financial structure as well as to hedge specific anticipated transactions. The Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Derivatives may also be designated as hedges of the foreign currency exposure of a net investment in a foreign operation. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. The accounting for subsequent changes in the fair value of these derivatives depends on whether each has been designed and qualifies for hedge accounting treatment. If the Company elects not to apply hedge accounting treatment, any changes in the fair value of these derivative instruments is recognized immediately in gains (losses) on derivative instruments in the consolidated statement of operations. If the derivative is designated and qualifies for hedge accounting treatment, the change in the estimated fair value of the derivative is recorded in other comprehensive income (loss) to the extent that it is effective. Any ineffective portion of a derivative’s change in fair value will be immediately recognized in earnings. Cash The Company maintains the majority of its cash balances in a national financial institution located in Las Vegas, Nevada. The balances are insured by the Federal Deposit Insurance Corporation under the same ownership category of $250,000. As of December 31, 2016 and 2015, the Company had approximately $1.8 million and approximately $9.1 million in excess of the federally-insured limits, respectively. Restricted Cash Restricted cash primarily consists of escrowed tenant improvement funds, real estate taxes, capital improvement funds, insurance premiums, and other amounts required to be escrowed pursuant to loan agreements. Revenue Recognition The Company’s revenues, which are derived primarily from rental income, include rents that each tenant pays in accordance with the terms of each lease reported on a straight-line basis over the initial term of the lease. Since some of the Company’s leases will provide for rental increases at specified intervals, straight-line basis accounting requires the Company to record a receivable, and include in revenues, unbilled rent receivables that the Company will only receive if the tenant makes all rent payments required through the expiration of the initial term of the lease. The Company may recognize interest income from loans on an accrual basis over the expected terms of the loans using the effective interest method. The Company may recognize fees, discounts, premiums, anticipated exit fees and direct cost over the terms of the loans as an adjustment to the yield. The Company may recognize fees on commitments that expire unused at expiration. The Company may recognize interest income from available-for-sale securities on an accrual basis over the life of the investment on a yield-to-maturity basis. The Company will continually review receivables related to rent and unbilled rent receivables and determine collectability by taking into consideration the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. In the event that the collectability of a receivable is in doubt, the Company will record an increase in the Company’s allowance for uncollectible accounts or record a direct write-off of the receivable after exhaustive efforts at collection. Advertising Costs Advertising costs incurred in the normal course of operations and are expensed as incurred. During the years ended December 31, 2016, 2015 and 2014, the Company had no advertising costs. Investments in Real Estate and Fixed Assets Investments in real estate and fixed assets are stated at cost less accumulated depreciation. Depreciation is provided principally on the straight-line method over the estimated useful lives of the assets, which are primarily 3 to 40 years. The cost of repairs and maintenance is charged to expense as incurred. Expenditures for property betterments and renewals are capitalized. Upon sale or other disposition of a depreciable asset, cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in other income (expense). The Company periodically evaluates whether events and circumstances have occurred that may warrant revision of the estimated useful lives of fixed assets or whether the remaining balance of fixed assets should be evaluated for possible impairment. The Company uses an estimate of the related undiscounted cash flows over the remaining life of the fixed assets in measuring their recoverability. Investments in Real Estate Loans Subject to the restrictions on related-party transactions set forth in the Company’s charter, the Company may, from time to time, acquire or sell investments in real estate loans from or to the advisor or other related parties without a premium. The primary purpose is to either free up capital to provide liquidity for various reasons, such as loan diversification, or place excess capital in investments to maximize the use of our capital. Selling or buying loans allows us to diversify our loan portfolio within these parameters. Due to the short-term nature of the loans the Company makes and the similarity of interest rates in loans the Company normally would invest in, the fair value of a loan typically approximates its carrying value. Accordingly, discounts or premiums typically do not apply upon sales of loans and therefore, generally no gain or loss is recorded on these transactions, regardless of whether to a related or unrelated party. Investments in real estate loans are secured by deeds of trust or mortgages. Generally, our real estate loans require interest only payments with a balloon payment of the principal at maturity. The Company has both the intent and ability to hold real estate loans until maturity and therefore, real estate loans are classified and accounted for as held for investment and are carried at amortized cost. Loans sold to or purchased from affiliates are accounted for at the principal balance and no gain or loss is recognized by us or any affiliate. Loan-to-value ratios are initially based on appraisals obtained at the time of loan origination and are updated, when new appraisals are received or when management’s assessment of the value has changed, to reflect subsequent changes in value estimates. Such appraisals are generally dated within 12 months of the date of loan origination and may be commissioned by the borrower. The Company considers a loan to be impaired when, based upon current information and events, it believes it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. The Company’s impaired loans include troubled debt restructuring, and performing and non-performing loans in which full payment of principal or interest is not expected. The Company calculates an allowance required for impaired loans based on the present value of expected future cash flows discounted at the loan’s effective interest rate, or at the loan’s observable market price or the fair value of its collateral. Loans that have been modified from their original terms are evaluated to determine if the loan meets the definition of a Troubled Debt Restructuring (“TDR”) as defined by ASC 310-40. When the Company modifies the terms of an existing loan that is considered a TDR, it is considered performing as long as it is in compliance with the modified terms of the loan agreement. If the modification calls for deferred interest, it is recorded as interest income as cash is collected. Allowance for Loan Losses The Company will maintain an allowance for loan losses to the extent it makes investments in real estate loans for estimated credit impairment. The Company’s estimate of losses is based on a number of factors including the types and dollar amounts of loans in the portfolio, adverse situations that may affect the borrower’s ability to repay, prevailing economic conditions and the underlying collateral securing the loan. Additions to the allowance are provided through a charge to earnings and are based on an assessment of certain factors, which may indicate estimated losses on the loans. Actual losses on loans are recorded first as a reduction to the allowance for loan losses. Generally, subsequent recoveries of amounts previously charged off are recognized as income. Estimating allowances for loan losses requires significant judgment about the underlying collateral, including liquidation value, condition of the collateral, competency and cooperation of the related borrower and specific legal issues that affect loan collections or taking possession of the property. As a commercial real estate lender willing to invest in loans to borrowers who may not meet the credit standards of other financial institutional lenders, the default rate on our loans could be higher than those generally experienced in the real estate lending industry. The Company and the Advisor generally approve loans more quickly than other real estate lenders and, due to our expedited underwriting process; there is a risk that the credit inquiry performed will not reveal all material facts pertaining to a borrower and the security. Additional facts and circumstances may be discovered as the Company continues efforts in the collection and foreclosure processes. This additional information often causes management to reassess its estimates. Circumstances that may cause significant changes in our estimated allowance include, but are not limited to: · Declines in real estate market conditions, which can cause a decrease in expected market value; · Discovery of undisclosed liens for community improvement bonds, easements and delinquent property taxes; · Lack of progress on real estate developments after the Company advances funds. The Company customarily utilizes disbursement agents to monitor the progress of real estate developments and approve loan advances. After further inspection of the related property, progress on construction occasionally does not substantiate an increase in value to support the related loan advances; · Unanticipated legal or business issues that may arise subsequent to loan origination or upon the sale of foreclosed property; and · Appraisals, which are only opinions of value at the time of the appraisal, may not accurately reflect the value of the property. Organization, Offering and Related Costs Certain organization, offering and related costs, including legal, accounting, printing, marketing expenses and the salaries and direct expenses of the employees of the Advisor and its affiliates, have been incurred by the Advisor on behalf of the Company. After the Company reimbursed $100,000 of such costs, which has been paid to the Advisor, no additional reimbursements will be made unless the aggregate amount of such reimbursements does not exceed 0.75% of the gross offering proceeds as of the date of reimbursement. Prior to the commencement of our operations, such offering costs had been deferred and such deferred offering costs have been amortized to expense as offering costs over the 12-month period commenced January 1, 2013 through December 31, 2013, on a straight-line basis. Stock-Based Compensation The Company has a stock-based incentive award plan, which is accounted for under the guidance for share based payments. The expense for such awards will be included in general and administrative expenses and is recognized over the vesting period or when the requirements for exercise of the award have been met (See Note G — Stock-Based Compensation). Income Taxes The Company has elected, and operates in a manner that will allow the Company, to qualify to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended, commencing with the taxable year ended December 31, 2013. If the Company qualifies for taxation as a REIT, it generally will not be subject to federal corporate income tax to the extent it distributes all of its REIT taxable income to its stockholders, and so long as it distributes at least 90% of its REIT taxable income. REITs are subject to a number of other organizational and operational requirements. Even if the Company qualifies to be taxed as a REIT, it may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed income. Per Share Data The Company calculates basic earnings per share by dividing net income for the period by weighted-average shares of its common stock outstanding for a respective period. Diluted earnings per share takes into account the effect of dilutive instruments, such as stock options and convertible stock, but uses the average share price for the period in determining the number of incremental shares that are to be added to the weighted-average number of shares outstanding. The Company had no outstanding common share equivalents during the years ended December 31, 2016, 2015 and 2014. In September 2012, upon the commencement of our offering, the Company issued 1,000 shares of convertible stock to our advisor. After giving effect to the release of waivers and waiver agreements executed in August and September of 2014, all of which were previously disclosed in Form 8-Ks and prospectus supplements, the convertible stock will convert into shares of our common stock representing 3.50% of the outstanding shares of our common stock immediately preceding the conversion if and when: (a) the Company has made total distributions on the then outstanding common shares equal to the invested capital attributable to those shares plus a 6.00% cumulative, non-compounded, annual pre-tax return on such invested capital; or (b) (i) the Company lists its common shares for trading on a national securities exchange and (ii) (x) the sum of the aggregate market value of the issued and outstanding common shares plus the aggregate amount of all distributions on the Company’s common shares exceeds (y) the sum of the aggregate capital contributed by investors (less any capital returned in the form of distributions) plus an amount equal to a 6% cumulative, pre-tax non-compounded annual return to investors; or (c) the advisory agreement is terminated or not renewed, but only if at the time of such termination or non-renewal, the requirements for conversion set forth in either of the immediately preceding clause (a) or (b) also shall have been satisfied. For purposes of such calculation, the market value of the Company’s outstanding common stock will be calculated based on the average market value of the shares of common stock issued and outstanding at listing over the 30 trading days beginning 180 days after the shares are first listed for trading on a national securities exchange. Reportable Segments The Company is currently authorized to operate two reportable segments, investments in real estate loans and investments in real property. As of December 31, 2016, the Company only operates in the investment in real property segment. Reclassifications In conjunction with the adoption of new accounting standards, certain debt or loan issuance costs for the year December 31, 2015, have been reclassified to conform to the current year’s presentation. Accounting and Auditing Standards Applicable to “Emerging Growth Companies” The Company is an “emerging growth company” under the recently enacted JOBS Act. For as long as the Company remains an “emerging growth company,” which may be up to five fiscal years, the Company is not required to (1) comply with any new or revised financial accounting standards that have different effective dates for public and private companies until those standards would otherwise apply to private companies, (2) provide an auditor’s attestation report on management’s assessment of the effectiveness of internal control over financial reporting pursuant to Section 404 of the Sarbanes-Oxley Act, (3) comply with any new requirements adopted by the Public Company Accounting Oversight Board, or the PCAOB, requiring mandatory audit firm rotation or a supplement to the auditor’s report in which the auditor would be required to provide additional information about the audit and the financial statements of the issuer or (4) comply with any new audit rules adopted by the PCAOB after April 5, 2012, unless the SEC determines otherwise. The Company intends to take advantage of such extended transition period including 404(b) reporting subject to further management evaluation. Since the Company will not be required to comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required for other public companies, the Company’s financial statements may not be comparable to the financial statements of companies that comply with public company effective dates. If the Company were to subsequently elect to instead comply with these public company effective dates, such election would be irrevocable pursuant to Section 107 of the JOBS Act. Non-controlling Interests The FASB issued authoritative guidance for non-controlling interests in December 2007, which establishes accounting and reporting standards for the non-controlling interest in a subsidiary and for the deconsolidation of a subsidiary. The guidance clarifies that a non-controlling interest in a subsidiary, which is sometimes referred to as an unconsolidated investment, is an ownership interest in the consolidated entity that should be reported as a component of equity in the consolidated financial statements. Among other requirements, the guidance requires consolidated net income to be reported at amounts attributable to both the parent and the non-controlling interest. It also requires disclosure, on the face of the consolidated income statement, of the amounts of consolidated net income attributable to the parent and to the non-controlling interest.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note C — Commitments and Contingencies Litigation In the ordinary course of business, the Company may become subject to litigation or claims. There are no material legal proceedings pending or known to be contemplated against the Company as of the filing date of this report. Environmental Matters In connection with the ownership and operation of real estate, the Company may potentially be liable for costs and damages related to environmental matters. During the Company’s due diligence of a property, purchased on March 31, 2015 and located in Milwaukee, it was discovered that the soil and ground water at the subject property had been impacted by the site’s historical use as a printing press as well as neighboring property uses. As a result, the Company retained a local environmental engineer to seek a closure letter or similar certificate of no further action from the State of Wisconsin due to the Company’s use of the property as a parking lot. As of December 31, 2016, management does not anticipate a material adverse effect related to this environmental matter. Promptly thereafter, in May 2016, the Company has not been notified by any governmental authority of any non-compliance, liability or other claim, and is not aware of any other environmental condition that it believes will have a material adverse effect on the results of operations. Prior Periods Tax Returns The Company recently learned that incorrect information was included on its federal income tax returns for the years 2013 and 2014 with respect to its acquisition of ownership interests in six office buildings. In 2013, the ownership interests in six office buildings located in Las Vegas, Nevada (the “Interests”) were contributed to the Company by SERE Holdings, LLC (“Sere”) in exchange for newly issued shares of the Company’s common stock. In its tax returns, which were prepared by an outside tax accounting firm which no longer works for the Company, the Company initially reported the contributions as nontaxable to Sere pursuant to Section 351(a) of the Internal Revenue Code (the “Code”). After a review by outside legal counsel and newly engaged, independent tax accountants, the Company has concluded that the contributions were ineligible for tax-free treatment under Section 351(a) of the Code. The Company has filed amended tax returns correcting the treatment of the contributions. Amendment of the tax returns did not result in any changes to the Company’s previously issued financial statements and related notes. In 2014, the Company had exchanged the Interests for various parking properties. The Interests were valued at the Company’s cost for purposes of the exchange and the Company did not record any income or loss on the exchange. If the original contributions of the Interests had been nontaxable pursuant to Section 351(a), then the Company would have inherited the tax basis of Sere and disposition of the Interests in 2014 would have resulted in taxable income to the Company based on the difference between such tax basis and the value received by the Company upon disposition. After reviewing the matter with outside legal counsel and independent tax accountants, the Company has concluded that the original contributions were ineligible for tax-free treatment under Section 351(a), the Company’s tax basis was the value it paid for the Interests and the Company did not incur any taxable income upon disposition of the Interests. No assurances can be given that the Internal Revenue Service will agree with the Company’s conclusions.

Investments in Real Estate

Investments in Real Estate	12 Months Ended
	Dec. 31, 2016
Banking and Thrift [Abstract]
Investments in Real Estate	Note D – Investments in Real Estate 2016 As of December 31, 2016, the Company had the following Investments in Real Estate: Property Location Date Acquired Investments in Real Estate Total % of Portfolio Zoning Height Restriction Parking Tenant Lease Commencement Date Lease Term Ft. Lauderdale Ft. Lauderdale, FL 7/31/2013 $3,409,000 2.9% RAC-CC 150 Feet SP+ 2/1/2014 5 yr. w/2 5 yr. ext. Memphis Court Memphis, TN 8/28/2013 $194,000 0.2% CBD Unlimited SP+ 3/14/2012 2 Years remaining Memphis Poplar Memphis, TN 8/28/2013 $2,693,000 2.3% CBD Unlimited Best Park 3/1/2014 5 yr. w/2 5 yr. ext. Kansas City Kansas City, MO 8/28/2013 $1,550,000 1.3% B4-5 Unlimited SP+ 3/14/2012 15 Years St. Louis St Louis, MO 9/4/2013 $4,137,000 3.5% I (CBD) 200 Feet SP+ 12/1/2013 5 yr. w/2 5 yr. ext. Mabley Place Cincinnati, OH 12/9/2014 $14,847,000 12.7% DD-A 510 Feet SP+ 12/9/2014 10 Years Denver Sherman Denver, CO 1/26/2015 $585,000 0.5% CMX-16 200 Feet Denver SD 7/1/2014 10 Years w/1 5 yr. ext. Ft. Worth Fort Worth, TX 3/16/2015 $23,336,000 20.0% CBD-H Unlimited SP+ 3/16/2015 10 Years Milwaukee Old World Milwaukee, WI 3/31/2015 $1,000,000 0.9% C9-E 40 Feet SP+ 3/31/2015 5 yr. w/1 5 yr. ext. St. Louis Convention St. Louis, MO 5/31/2015 $2,575,000 2.2% I (CBD) 200 Feet SP+ 5/13/2015 5 yr. w/1 5 yr. ext. Houston Saks Garage Houston, TX 5/28/2015 $8,380,000 7.2% N/A Unlimited iPark 5/28/2015 10 yr. w/1 5 yr. ext. St. Louis Lucas St. Louis, MO 6/29/2015 $3,463,000 3.0% I (CBD) 200 Feet SP+ 6/29/2015 5 yr. w/1 5 yr. ext. Milwaukee Wells Milwaukee, WI 6/30/2015 $3,900,000 3.3% C9-E 40 Feet SP+ 6/30/2015 10 Years Wildwood NJ Lot I Wildwood, NJ 7/10/2015 $994,000 0.9% T/E 35 feet SP+ 1/1/2016 5 yr. w/1 5 yr. ext. Indy City Parking Garage Indianapolis, IN 10/5/2015 $10,500,000 9.0% B4C-1 Unlimited SP+ 1/15/2016 5 yr. w/1 5 yr. ext. KC Cherry Lot Kansas City, MO 10/9/2015 $515,000 0.4% CDB-1 RC 5 Stories ABM 10/5/2015 5 yr. w/1 5 yr. ext. Indy WA Street Indianapolis, IN 10/29/2015 $4,995,000 4.3% UR Per Plan SP+ 10/9/2015 5 yr. w/1 5 yr. ext. Wildwood NJ Lot II Wildwood, NJ 12/16/2015 $615,000 0.5% CBD-2 Unlimited Denison 10/30/2015 10 Years Minneapolis City Parking Minneapolis, MN 1/6/2016 $9,500,000 8.2% T/E 35 feet SP+ 1/1/2016 5 yr. w/1 5 yr. ext. Indianapolis Meridian Indianapolis, IN 1/15/2016 $1,498,000 1.3% CBD-2/RC Unlimited Denison Parking 1/20/2016 10 Years Milwaukee Clybourn Milwaukee, WI 1/20/2016 $205,000 0.2% C9F(A) 30 Feet Secure Parking USA 2/1/2016 5 Years Milwaukee Arena Milwaukee, WI 2/1/2016 $3,900,000 3.3% RED Unlimited SP+ 2/9/2016 5 yr. w/1 5 yr. ext. Clarksburg Lot Clarksburg, WV 2/9/2016 $628,000 0.5% BPO 60 Feet ABM 2/12/2016 5 Years Denver 1935 Sherman Denver, CO 2/12/2016 $2,438,000 2.1% CMX-16 200 Feet SP+ 3/30/2016 10 Years Bridgeport Fairfield Bridgeport, CT 3/30/2016 $7,800,000 6.7% DVD-CORE 65 Feet SP+ 1/15/2016 10 Years Houston Preston Houston, TX 11/22/2016 $2,800,000 2.4% None Unlimited iPark Services 12/1/2016 10 Years Fixed Assets $88,000 0.1% $116,545,000

Related Party Transactions and

Related Party Transactions and Arrangements	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions and Arrangements	Note E — Related Party Transactions and Arrangements The transactions described in this Note were approved by a majority of the Company’s board of directors (including a majority of the independent directors) not otherwise interested in such transaction as fair and reasonable to the Company and on terms and conditions no less favorable to the Company than those available from unaffiliated third parties. Acquisition Expense During the years ended December 31, 2016, 2015 and 2014, JNL Parking, a brokerage and consulting company specializing in the parking industry and co-founded by the Company’s former Chief Investment Officer and former Chief Technology Officer (their employment ended during August 2016), earned fees of approximately $0.1 million, $0.6 million and $27,000, respectively, for 1% commission on purchases. In addition, JNL Parking received brokerage fees from third parties. Dan Huberty, President of the Company received certain fees from JNL Parking for prior closings. This fee is no longer paid to Dan Huberty. JNL Parking may continue to receive broker fees from the Company, for deals in which they acted as a broker, after John Roy and Lance Miller’s employment ended with the Company. Ownership of Company Stock As of December 31, 2016, the Sponsor owned 28,494 shares of the Company’s outstanding common stock, VRM I owned 74,377 shares of the Company’s outstanding common stock, Dan Huberty owned 9,341 shares of the Company’s outstanding common stock and the Advisor owned 1,000 shares of the Convertible Stock. See “Capitalization” under Note A Organization, Business Operations and Capitalization” Ownership of Interests of Advisor During April 2012, VRM II contributed $1,000 for a 40% interest in the Advisor. Mr. Shustek, through a wholly owned company named MVP Capital Partners, LLC (the “Sponsor”) contributed $1,500 for a 60% interest in the Advisor. As of June 30, 2013, VRM II and the Sponsor had loaned approximately $3.6 million and approximately $1.2 million, respectively, to the Advisor for purposes of funding the Company’s operations. On June 30, 2013, the Sponsor decided to forgive the full amount of its $1.2 million loan. VRM II has not forgiven the balance due from the Advisor. However, the decision by the Sponsor to forgive the full amount of its loans created uncertainty as to when VRM II will be repaid the amounts loaned to the Advisor. Based on this uncertainty, VRM II determined to treat as fully impaired the balance of this note receivable. In December 2013, VRM II and the Sponsor entered into a membership interest transfer agreement, dated as of December 19, 2013, pursuant to which VRM II acquired from the Seller an additional 20% of the membership interests of the Advisor. Concurrently therewith, the Sponsor and VRM I entered into a separate membership interest transfer agreement pursuant to which VRM I acquired the remaining 40% interest in the Advisor from the Sponsor. As a result, VRM II and VRM I now own 60% and 40%, respectively, of the aggregate membership interests of the Advisor. As of December 31, 2016, VRM I and VRM II had notes receivable from the Advisor of approximately $4.6 million and $12.8 million, respectively, which amount has been fully impaired. The Advisor’s ability to repay the sums due VRM I and VRM II will likely depend upon the success of the Company’s investments in real estate. Pursuant to the transfer agreements entered into in December 2013, neither VRM I nor VRM II paid any up-front consideration for the acquired interests, but each will be responsible for its proportionate share of future expenses of the Advisor. In recognition of the Sponsor’s substantial investment in the Advisor for which the Sponsor received no up-front consideration, the transfer agreements and the amended operating agreement of the Advisor further provide that once VRM I and VRM II have been repaid in full for any capital contributions to the Advisor or for any expenses advanced on the Advisor’s behalf (“Capital Investment”), and once they have received an annualized return on their Capital Investment of 7.5%, then the Sponsor will receive one-third of the net profits of the Advisor. Ownership by MVP REIT II On November 5, 2016, MVP REIT II purchased 338,409 shares of the Company’s common stock from an unrelated third party for $3.0 million or $8.865 per share. During the year ended December 31, 2016, the Company paid MVP REIT II, approximately $34,000 in distributions, related to their ownership of our common stock. Fees and Expenses Paid in Connection with the Offering The Company completed its initial public offering in September 2015. The Company appointed MVP American Securities (“MVP AS”), formerly known as Ashton Garnett Securities, LLC, an entity indirectly owned by our CEO and third-party selling agents to act as the selling agents for the offering. Broker Dealers received 3.00% of the gross offering proceeds sold in the offering, subject to reductions based on volume and for certain categories of purchasers. No selling commissions are payable on shares sold under the distribution reinvestment plan. Additionally, the Sponsor or its affiliates (other than MVP REIT, Inc.) paid up to an additional 5.25% of the gross offering proceeds for third party broker dealer commissions and due diligence expenses. Since the offering has terminated, the Company does not anticipate incurring any additional fees or expenses in connection with the sale of shares offering. Certain organizational, offering and related costs will be incurred by the Advisor on behalf of the Company. After the Company has reimbursed $100,000 of such costs, which amount has been paid to the Advisor, no additional reimbursements will be made unless the aggregate amount of such reimbursements does not exceed 0.75% of the gross offering proceeds as of the date of reimbursement. Such reimbursable costs may include legal, accounting, printing, and other offering expenses, including marketing, salaries and direct expenses of the Advisor’s employees and employees of the Advisor’s affiliates and others. Such reimbursable costs do not include any broker-dealer commissions paid by the Advisor in excess of the 3.00% paid by the Company, including any sponsor commissions or sponsor due diligence fees. Any reimbursement of the Advisor will not exceed actual expenses incurred by the Advisor. On November 1, 2013, the advisor forgave the reimbursement of the full amount of offering costs incurred. Fees and Expenses Paid in Connection With the Operations of the Company The Company has no paid employees. The Company has retained the Advisor to manage its affairs on a day-to-day basis. Pursuant to an amendment of the advisory agreement effective November 21, 2013, the Company will reimburse, no less than monthly, the Advisor for audit, accounting and legal fees, and other fees for professional services provided by third parties relating to the operations of the Company and all such fees incurred at the request, or on behalf of, the Board or any committee of the Board; provided, however, that the Advisor shall not be entitled to reimbursement by the Company for any personnel or related employment costs incurred by the Advisor or its affiliates in performing the services, including but not limited to salary and benefits of employees and overhead, until the first anniversary of (i) the listing of the Company’s shares on a national securities exchange or (ii) a merger, a sale of all or substantially all of the Company’s assets or another liquidity event transaction approved by the Company’s board. As of December 31, 2016, the aggregate amount of expense reimbursements waived by the Advisor was approximately $6.9 million. The Advisor must reimburse the Company at least quarterly for reimbursements paid to the Advisor in any four consecutive fiscal quarters to the extent that such reimbursements to the Advisor cause the Company’s total operating expenses to exceed the greater of (1) 2% of our average invested assets, which generally consists of the average book value of the Company’s real properties before deducting depreciation, bad debts or other non-cash reserves and the average book value of securities, or (2) 25% of the Company’s net income, which is defined as the Company’s total revenues less total expenses for any given period excluding reserves for depreciation, bad debts or other similar non-cash reserves, unless the independent directors have determined that such excess expenses were justified based on unusual and non-recurring factors. The Advisor does not currently owe any amounts to the Company under this provision. As the Company commences the reimbursement of the expenses to the Advisor, the Company will verify that such reimbursements do not exceed the limits identified above or, in the event of any excessive payments, will obtain reimbursements from the Advisor. The Advisor or its affiliates will receive an acquisition fee of 3.0% of the purchase price of any real estate or loan acquired at a discount, provided, however, the Company will not pay any fees when acquiring loans from its affiliates. During the years ended December 31, 2016, 2015 and 2014, MVP REIT incurred approximately $1.5 million, $2.6 million and approximately $1.9 million, respectively, in acquisition fees to the Advisor. The Advisor or its affiliates is entitled to receive a monthly asset management fee at an annual rate equal to 0.85% of the fair market value of (i) all assets then held by the Company or (ii) the Company's proportionate share thereof in the case of an investment made through a joint venture or other co-ownership arrangement, excluding (only for clause (ii)) debt financing obtained by the Company or made available to the Company. The fair market value of real property shall be based on annual "AS-IS", "WHERE-IS" appraisals, and the fair market value of real estate-related secured loans shall be equal to the face value of the such loan, unless it is non-performing, in which case the fair market value shall be equal to the book value of such loan. The asset management fee will be reduced to 0.75% if the Company is listed on a national securities exchange. While the Company intends to pursue listing on NASDAQ expeditiously, there can be no assurance as to if or when its listing application will be approved and its common stock will begin to trade on NASDAQ. Notwithstanding the foregoing, no asset management fee will be paid or payable with respect to any mortgage assets held by us at this time. We will not pay any asset management fee on any of our mortgage assets unless we restructure our mortgage program in a manner consistent with the NASAA Mortgage Program Guidelines that would permit us to pay an asset management fee on our mortgage assets, including making available 84% of our capital contribution to invest in mortgages assets. We have no present intention to revise our investment strategy in a manner that would permit such payment under the NASAA Mortgage Program Guidelines, but may elect to do so in the future. If we do make such an election to restructure our mortgage program, then, subject to satisfaction of the requirements of the NASAA Mortgage Program Guidelines, we may pay our advisor or its affiliates an annual asset-based fee equal to 0.75% of the “Base Amount” (as defined in the NASAA Mortgage Program Guidelines) of the capital contributions, if any, committed to investments in mortgages and 0.5% of the capital contributions temporarily held while awaiting investments in mortgages, in addition to any other fees and compensation that is allowed under the NASAA Mortgage Program Guidelines. The advisory agreement currently provides for payment to our advisor of a monthly market-based fee for property management services of up to 6.00% of the gross revenues generated by our properties. The Advisor has irrevocably waived its rights to receive a property management fee with respect to any real property owned that are subject to triple net leases. As a result of this waiver, no property management fee will be paid on any real property owned that are subject to triple net leases pursuant to which the tenants pay all or a majority of all real estate taxes, building insurance, and maintenance expenses. The Advisor or its affiliates is entitled to receive a monthly debt financing fee at an annual rate equal to 0.25% of the aggregate debt financing obtained by the Company or made available to the Company, such as mortgage debt, lines of credit, and other term indebtedness, including refinancing. In the case of a joint venture, the Company pays this fee only on the Company’s pro rata share. Debt financing fees for the years ended December 31, 2016, 2015 and 2014 were approximately $114,000, $66,000 and $29,000, respectively. During November 2016, the Company and MVP REIT II, closed on the purchase of a parking lot in Houston, TX for approximately $2.8 million in cash plus closing costs, 80% owned by MVP and 20% owned by MVP REIT II. At closing the Company funded the full purchase price and recorded a receivable from MVP REIT II totaling $560,000. This balance was paid in full, during January 2017. Disposition Fee For substantial assistance in connection with the sale of real property, as determined by the independent directors, the Company will pay the Advisor or its affiliate the lesser of (i) 3.00% of the contract sale price of the real property sold or (ii) 50% of the customary commission which would be paid to a third-party broker for the sale of a comparable property. The amount paid, when added to the sums paid to unaffiliated parties, may not exceed either the customary commission or an amount equal to 6.00% of the contract sales price. The disposition fee will be paid concurrently with the closing of any such disposition of all or any portion of any real property. The Company will not pay a disposition fee upon the maturity, prepayment, workout, modification or extension of a loan or other debt-related investment; provided, however, that the Advisor or its affiliates may receive an exit fee or a prepayment penalty paid by the borrower. If the Company takes ownership of a property as a result of a workout or foreclosure of a loan, the Company will pay a disposition fee upon the sale of such real property equal to 3.00% of the sales price. With respect to real property held in a joint venture, the foregoing commission will be reduced to a percentage reflecting the Company’s economic interest in the joint venture. There were no disposition fees earned by the Advisor for the years ended December 31, 2016, 2015 and 2014. Fees and Expense Reimbursements Payable by Borrowers and Other Third Parties The Company or its affiliates may be entitled to late fees, loan servicing fees, loan extension and loan modification fees and other fees and expense reimbursement payable by borrowers and other third parties.

Dependency

Dependency	12 Months Ended
	Dec. 31, 2016
Risks and Uncertainties [Abstract]
Dependency	Note F —Dependency The Company has no employees and is dependent on the Advisor for services that are essential to the Company, including asset management services, supervision of the management and leasing of properties owned by the Company, asset acquisition and disposition decisions, as well as other administrative responsibilities for the Company including accounting services and investor relations. In the event that these companies are unable to provide the Company with the respective services, the Company will be required to find alternative providers of these services. In this regard, the Company notes that the Advisor has agreed to waive certain fees and expenses it otherwise would be entitled to under the Advisory Agreement as further described under “ Note E – Related Party Transactions and Arrangement

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Stock-Based Compensation	Note G — Stock-Based Compensation Equity Incentive Plan The Company has adopted an equity incentive plan. The equity incentive plan offers certain individuals an opportunity to participate in the Company’s growth through awards in the form of, or based on, the Company’s common stock. The Company has no current intention to issue any awards under the equity incentive plan but may do so in the future in order to attract and retain qualified directors, officers, employees, and consultants. The equity incentive plan authorizes the granting of restricted stock, stock options, stock appreciation rights, restricted or deferred stock units, performance awards, dividend equivalents, other stock-based awards and cash-based awards to directors, employees and consultants of the Company selected by the board of directors for participation in the equity incentive plan. Stock options granted under the equity incentive plan will not exceed an amount equal to 10% of the outstanding shares of the Company’s common stock on the date of grant of any such stock options. Any stock options and stock appreciation rights granted under the equity incentive plan will have an exercise price or base price that is not less than the fair market value of the Company’s common stock on the date of grant. The board of directors, or the compensation committee of the board of directors, will administer the equity incentive plan, with sole authority to determine all of the terms and conditions of the awards, including whether the grant, vesting or settlement of awards may be subject to the attainment of one or more performance goals. No awards will be granted if the grant or vesting of the awards would jeopardize the Company’s status as a REIT under the Code or otherwise violate the ownership and transfer restrictions imposed under the Company’s charter. Unless otherwise determined by the board of directors, no award granted under the equity incentive plan will be transferable except through the laws of descent and distribution. The Company has authorized and reserved an aggregate maximum of 300,000 shares for issuance under the equity incentive plan. In the event of a transaction between the Company and its stockholders that causes the per-share value of common stock to change (including, without limitation, any stock dividend, stock split, spin-off, rights offering or large nonrecurring cash dividend), the share authorization limits under the equity incentive plan will be adjusted proportionately, and the board of directors must make such adjustments to the equity incentive plan and awards as it deems necessary, in its sole discretion, to prevent dilution or enlargement of rights immediately resulting from such transaction. In the event of a stock split, a stock dividend or a combination or consolidation of the outstanding shares of common stock into a lesser number of shares, the authorization limits under the equity incentive plan will automatically be adjusted proportionately and the shares then subject to each award will automatically be adjusted proportionately without any change in the aggregate purchase price. Unless otherwise provided in an award certificate or any special plan document governing an award, in the event of a corporate transaction (as defined in the Company’s equity incentive plan), if any award issued under the Company’s equity incentive plan is not assumed or replaced as part of the corporate transaction, then such portion of the award shall automatically become fully vested and exercisable and be released from any repurchase or forfeiture rights (other than repurchase rights exercisable at fair market value) immediately prior to the effective date of such corporation transaction, so long as the grantee’s continuous service has not terminated prior to such date. Unless otherwise provided in an award certificate or any special plan document governing an award, in the event of a change in control, each outstanding award issued automatically shall become fully vested and exercisable and be released from any repurchase or forfeiture rights (other than repurchase rights exercisable at fair market value), immediately prior to the effective date of such change in control, provided that the grantee’s continuous service has not terminated prior to such date. Under the equity incentive plan, a “corporate transaction” is defined to include (i) a merger or consolidation in which the Company is not the surviving entity; (ii) the sale of all or substantially all of the Company’s assets; (iii) the Company’s complete liquidation or dissolution; and (iv) acquisitions by any person of beneficial ownership of securities possessing more than 50% of the total combined voting power of the Company’s outstanding securities (but excluding any transactions determined by our administrator not to constitute a “corporate transaction”). Under the equity incentive plan, a “change in control” is defined generally as a change in ownership or control of the Company effected either through (i) acquisitions of securities by any person (or related group of persons) of securities possessing more than 50% of the total combined voting power of the Company’s outstanding securities pursuant to a tender offer or exchange offer that the Company’s directors do not recommend the Company’s stockholders accept; or (ii) a change in the composition of the board over a period of 12 months or less such that a majority of the Company’s board members will no longer serve as directors, by reason of one or more contested elections for board membership. The equity incentive plan will automatically expire on the tenth anniversary of the date on which it is approved by the board of directors and stockholders, unless extended or earlier terminated by the board of directors. The board of directors may terminate the equity incentive plan at any time. The expiration or other termination of the equity incentive plan will have no adverse impact on any award previously granted under the equity incentive plan. The board of directors may amend the equity incentive plan at any time, but no amendment will adversely affect any award previously granted, and no amendment to the equity incentive plan will be effective without the approval of the Company’s stockholders if such approval is required by any law, regulation or rule applicable to the equity incentive plan. In addition, no option, warrant or any other equity award will be issued under our equity incentive plan or otherwise to our advisor, our sponsor or any of their affiliates, if the issuance of any such award would result in a violation of any applicable NASAA REIT Guidelines, including the limitations imposed under the NASAA REIT Guidelines on our total operating expenses (after giving effect to the expense associated with such equity award). Please see “ Note E — Related Party Transactions and Arrangements

Recent Accounting Pronouncement

Recent Accounting Pronouncements	12 Months Ended
	Dec. 31, 2016
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Note H – Recent Accounting Pronouncements In April 2015, the FASB issued ASU 2015-03, Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs In March 2016, the FASB issued ASU No. 2016-07, Investments - Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In August 2016, the FASB issued ASU No. 2016-15, Classification of Certain Cash Receipts and Cash Payments

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Acquisitions	Note I - Acquisitions Property Name Location Purchase Date Property Type # Spaces Property Size (Acres) Retail Sq Ft Aggregate Initial Purchase Price % Owned MVP PF Ft. Lauderdale 2013, LLC Ft. Lauderdale, FL 7/31/2013 Lot 66 0.61 4,017 $3,400,000 100.0% MVP PF Kansas City 2013, LLC Kansas City, MO 8/28/2013 Lot 164 1.18 N/A $1,550,000 100.0% MVP PF Memphis Poplar 2013, LLC Memphis, TN 8/28/2013 Lot 125 0.86 N/A $2,685,000 100.0% MVP PF Memphis Court 2013, LLC Memphis, TN 8/28/2013 Lot 37 0.41 N/A $190,000 100.0% MVP PF St. Louis 2013, LLC St Louis, MO 9/4/2013 Lot 179 1.22 N/A $4,125,000 100.0% MVP Denver Sherman, LLC Denver, CO 1/26/2015 Lot 28 0.14 N/A $585,000 100.0% MVP Milwaukee Old World, LLC Milwaukee, WI 3/31/2015 Lot 54 0.26 N/A $1,000,000 100.0% MVP St. Louis Convention Plaza, LLC St. Louis, MO 5/13/2015 Lot 221 1.26 N/A $2,575,000 100.0% MVP St. Louis Lucas, LLC St. Louis, MO 6/29/2015 Lot 217 1.16 N/A $3,463,000 100.0% MVP Milwaukee Wells, LLC Milwaukee, WI 6/30/2015 Lot 100 0.95 N/A $3,900,000 100.0% MVP Wildwood NJ Lot, LLC (1) Wildwood, NJ 7/10/2015 Lot 29 0.26 N/A $970,000 100.0% MVP KC Cherry Lot, LLC Kansas City, MO 10/9/2015 Lot 84 0.60 N/A $515,000 100.0% MVP Indianapolis WA Street Lot, LLC Indianapolis, IN 10/29/2015 Lot 150 1.07 N/A $4,995,000 100.0% MVP Wildwood NJ Lot, LLC #2 (1) Wildwood, NJ 12/16/2015 Lot 45 0.31 N/A $615,000 100.0% Minneapolis City Parking, LLC Minneapolis, MN 1/6/2016 Lot 270 4.36 N/A $9,395,000 87.0% MVP Indianapolis Meridian Lot, LLC Indianapolis, IN 1/15/2016 Lot 39 0.24 N/A $1,550,000 100.0% MVP Milwaukee Clybourn, LLC Milwaukee, WI 1/20/2016 Lot 15 0.06 N/A $205,000 100.0% MVP Milwaukee Arena Lot, LLC Milwaukee, WI 2/1/2016 Lot 75 1.11 N/A $3,900,000 100.0% MVP Clarksburg Lot, LLC Clarksburg, WV 2/9/2016 Lot 94 0.81 N/A $620,000 100.0% MVP Denver Sherman 1935, LLC Denver, CO 2/12/2016 Lot 72 0.43 N/A $2,438,000 76.0% MVP Houston Preston Lot, LLC Houston, TX 11/22/2016 Lot 46 0.23 N/A $2,800,000 80.0% Mabley Place Garage, LLC Cincinnati, OH 12/9/2014 Garage 775 0.90 8,400 $14,580,000 83.0% MVP Fort Worth Taylor, LLC Fort Worth, TX 3/16/2015 Garage 1,013 1.18 11,828 $23,336,000 100.0% MVP Houston Saks Garage, LLC Houston, TX 5/28/2015 Garage 265 0.36 5,000 $8,375,000 100.0% MVP Indianapolis City Park, LLC Indianapolis, IN 10/5/2015 Garage 370 0.47 N/A $10,500,000 100.0% MVP Bridgeport Fairfield Garage, LLC Bridgeport, CT 3/30/2016 Garage 878 1.01 4,349 $7,800,000 90.0% MVP Minneapolis Venture, LLC Minneapolis, MN 1/6/2016 For Sale Lot 185 4.36 N/A $6,100,000 87.0% 2016 The following table is a summary of the acquisitions for the year ended December 31, 2016: Assets Liabilities Land and Improvements Building and improvements Total assets acquired Notes Payable Assumed Net assets and liabilities acquired Minneapolis Venture* $ 6,100,000 $ -- $ 6,100,000 $ -- $ 6,100,000 Indianapolis Meridian 1,550,000 -- 1,550,000 -- 1,550,000 Milwaukee Clybourn 205,000 -- 205,000 -- 205,000 Milwaukee Arena 3,900,000 -- 3,900,000 -- 3,900,000 Clarksburg Lot 620,000 -- 620,000 -- 620,000 Denver 1935 Sherman 2,438,000 -- 2,438,000 -- 2,438,000 Bridgeport Fairfield 972,000 6,828,000 7,800,000 -- 7,800,000 Minneapolis City Parking 9,395,000 -- 9,395,000 -- 9,395,000 Houston Preston Lot 2,800,000 -- 2,800,000 -- 2,800,000 $ 27,980,000 $ 6,828,000 $ 34,808,000 $ -- $ 34,808,000 *Minneapolis Venture is currently reported as held for sale. Pro forma results of the Company The following table of pro forma consolidated results of operations of the Company for the years ended December 31, 2016, 2015 and 2014 assumes that the acquisitions were completed as of January 1, 2014. For the Years Ended December 31, 2016 2015 2014 Revenues from continuing operations $ 8,943,000 $ 6,568,000 $ 2,576,000 Net income (loss) available to common stockholders $ (2,781,000) (99,000) $ 1,074,000 Net loss available to common stockholders per share – basic $ (0.25) $ (0.01) $ 0.30 Net loss available to common stockholders per share – diluted $ (0.25) $ (0.01) $ 0.30 Revenue and expenses of acquisitions since acquisition dates included in the consolidated statement of operations The following is a summary of the results of operations related to the net assets and liabilities acquired for the period from acquisition dates through December 31, 2016: Revenue $ 1,596,000 Expenses (1,578,000) Net income $ 18,000 On August 18, 2016, we acquired an additional 13.3% tenant-in-common interest in the Mabley Place Garage, LLC, bringing our total ownership to 83.34%, for approximately $0.9 million. 2015 The following table is a summary of the acquisitions for the year ended December 31, 2015: Assets Liabilities Land and Improvements Building and improvements Total assets acquired Notes Payable Assumed Net assets and liabilities acquired Denver Sherman $ 585,000 $ -- $ 585,000 $ -- $ 585,000 Ft. Worth Taylor 5,834,000 17,502,000 23,336,000 12,180,000 11,156,000 Milwaukee Old World 1,000,000 -- 1,000,000 -- 1,000,000 St. Louis Convention Plaza 2,575,000 -- 2,575,000 -- 2,575,000 Houston Saks Garage 3,565,000 4,810,000 8,375,000 -- 8,375,000 St. Louis Lucas 3,463,000 -- 3,463,000 -- 3,463,000 Milwaukee Wells 3,900,000 -- 3,900,000 -- 3,900,000 Wildwood NJ Lot#1 970,000 -- 970,000 -- 970,000 Indy City Park 1,226,000 9,274,000 10,500,000 -- 10,500,000 KC Cherry Street 515,000 -- 515,000 -- 515,000 Indy WA Street 4,995,000 -- 4,995,000 -- 4,995,000 Wildwood NJ #2 615,000 -- 615,000 -- 615,000 $ 29,243,000 $ 31,586,000 $ 60,829,000 $ 12,180,000 $ 48,649,000 Pro forma results of the Company The following table of pro forma consolidated results of operations of the Company for the years ended December 31, 2015 and 2014, and assumes that the acquisition was completed as of January 1, 2014. For the year ended December 31, 2015 For the year ended December 31, 2014 Revenues from continuing operations $ 6,534,000 $ 4,829,000 Net income (loss) available to common stockholders $ (75,000 ) $ 545,000 Net income (loss) available to common stockholders per share – basic $ (0.01 ) $ 0.15 Net income (loss) available to common stockholders per share – diluted $ (0.01 ) $ 0.15 Revenue and expenses of acquisitions since acquisition dates included in consolidated statement of operations The following is a summary of the results of operations related to the net assets and liabilities acquired for the period from acquisition dates through December 31, 2015: Revenue $ 2,328,000 Expenses (3,483,000) Net loss $ (1,155,000) 2014 On April 30, 2014, the Company exercised its Purchase Right and acquired VRM I and VRM II’s interest in the five parking facilities, net of the assumed debt secured by the real estate and VRM II’s interest in the storage facility, net of the assumed debt secured by the real estate. In exchange VRM I and VRM II received interest in four office properties, net of the assumed debt secured by the real estate. The difference between the net amount of the assets exchanged was paid in cash. As a result, the Company now holds 100% interest in the five parking facilities and storage facility, and VRM I and VRM II together hold 100% interest in the four office properties. The transaction was approved by the Board of Directors of the Company, VRM I and VRM II. The following table summarizes the acquisition-date fair value of the total consideration transferred: Assets Cash $ 101,000 Other assets 22,000 Land and improvements 6,275,000 Building and improvements 18,521,000 Tenant improvements 165,000 Total assets transferred 25,084,000 Liabilities Accounts payable and accrued liabilities 58,000 Notes payable 14,335,000 Total liabilities transferred 14,393,000 Acquisition-date fair value of the total consideration transferred $ 10,691,000 The related assets, liabilities, and results of operations of the acquired properties are included in the consolidated financial statements as of the date of acquisition. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date for our 2014 acquisition: Assets Acquired Assets Cash received $ 1,392,000 Other assets 171,000 Land and improvements 11,200,000 Building and improvements 736,000 49% Non-controlling interest portion of Red Mountain 1,208,000 Total assets acquired 14,707,000 Liabilities Accrued liabilities 10,000 Notes payable 4,278,000 Total liabilities assumed 4,288,000 Net assets acquired $ 10,419,000 We recognized acquisition expense related to the acquisition of parking facilities of which includes a 7.5% guaranteed return of approximately $0.5 million to VRM I and VRM II for their investment in these properties. Additionally, we reimbursed VRM I and VRM II for the loss they incurred related to the sale of MVP PF Baltimore 2013, LLC and acquisition expenses. These expenses incurred in the acquisition of the parking facilities totaled $1,336,000 of which VRM I and VRM II’s share was $0.2 million and $0.3 million, respectively. Pro forma results of the Company The following table of pro forma consolidated results of operations of the Company for the years ended December 31, 2014 and 2013, and assumes that the acquisition was completed as of January 1, 2013. For the year ended December 31, 2014 For the year ended December 31, 2013 Revenues from continuing operations $ 2,494,000 $ 2,218,000 Net loss available to common stockholders $ (740,000 ) $ (3,539,000 ) Net loss available to common stockholders per share – basic $ (0.20 ) $ (3.40 ) Net loss available to common stockholders per share – diluted $ (0.20 ) $ (3.40 ) Revenue and expenses of acquisitions since acquisition dates included in consolidated statement of operations The following is a summary of the results of operations related to the net assets and liabilities acquired for the period from acquisition dates through December 31, 2014: Revenue $ 658,000 Expenses (546,000 ) Net Income $ 112,000

Investment in Equity Method Inv

Investment in Equity Method Investee	12 Months Ended
	Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Investment in Equity Method Investee	Note J – Investment in Equity Method Investee 2016 On May 11, 2016, the Company through a wholly owned entity it owns, along with MVP REIT II, closed the purchase of all of the membership interests of an entity that owns a surface parking lot, for approximately $5.7 million in cash. The Company’s share of the purchase was approximately $2.8 million in cash plus closing costs and the Company owns a 49% interest in the entity. The surface parking lot is located at 1200-1240 W. 9th Street and W. 10th Street, Cleveland, Ohio (the “Cleveland West 9th”). Cleveland West 9th consists of approximately 87,052 square feet with approximately 260 parking spaces. The parking lot is leased by SP Plus Corporation, a national parking operator, under a net lease agreement where Cleveland West 9th will be responsible for property taxes above a $120,000 threshold, and SP Plus Corporation will pay insurance and maintenance costs. SP Plus Corporation will pay annual rent of $330,000. In addition, the lease provides revenue participation with MVP receiving 70% of gross receipts over $650,000. The term of the lease will be for 5 years. On May 17, 2016, the Company through a wholly owned entity it owns, along with MVP REIT II, closed on the purchase of all of the membership interests of an entity that owns a surface parking lot, for approximately $3.0 million in cash. The Company’s share of the purchase was approximately $1.5 million and the Company owns a 49% interest in the entity. The surface parking lot is located at 1239 W. 9th Street, Cleveland, Ohio (the “Crown Colony parking lot”). The Crown Colony parking lot consists of approximately 23,000 square feet with approximately 82 parking spaces. The Crown Colony parking lot is leased by SP Plus Corporation, a national parking operator, under a net lease agreement where MVP will be responsible for property taxes above a $40,000 threshold, and SP Plus Corporation will pay insurance and maintenance costs. SP Plus Corporation will pay annual rent of $185,000. In addition, the lease provides revenue participation with MVP receiving 70% of gross receipts over $325,000. The term of the lease will be for 5 years. On September 30, 2016, the Company through a wholly owned entity it owns, along with MVP REIT II, closed on the purchase of all of the membership interests of an entity that owns parking garage, for approximately $11.5 million in cash. The Company’s share of the purchase was approximately $2.3 million and the Company owns a 20% interest in the entity. The parking garage is located at 205 2 nd The following is a summary of MVP REIT’s portion of the equity method investments purchased per their agreements: Ownership Property Name Purchase Date Purchase Price MVP REIT MVP REIT II Cleveland West 9 th 05/11/2016 $ 2,788,000 49% 51% 33740 Crown Colony (1) 05/17/2016 $ 1,489,000 49% 51% White Front Garage 09/30/2016 $ 2,307,000 20% 80% Total $ 6,584,000 (1) In November 2016, these properties were merged into one holding company called MVP Cleveland West 9 th 2015 None 2014 On January 14, 2014, the Company, VRM I and VRM II sold MVP PF Baltimore 2013, LLC to a third party for $1,550,000 which resulted in a nominal loss. On April 30, 2014, the Company completed the acquisition of VRM I and VRM II’s interest in the five parking facilities, net of the assumed debt secured by the real estate and VRM II’s interest in the storage facility, net of the assumed debt secured by the real estate: in exchange VRM I and VRM II received interest in four office properties, net of the assumed debt secured by the real estate. The difference between the net amount of the assets exchanged was paid in cash. Following this transaction, the Company now holds a 100% interest in the five parking facilities and storage facility. VRM I and VRM II together hold 100% interest in the four office properties. On April 30, 2014 this transaction was completed which results in the consolidation of results of operations for this entity. For additional information please see Note L – Acquisitions.

Line of Credit

Line of Credit	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Line of Credit	Note K — Line of Credit On October 5, 2016, the Company, through its Operating Partnership, and MVP REIT II, through a wholly owned subsidiary (the "Borrowers") entered into a credit agreement (the "Unsecured Credit Agreement") with KeyBank, National Association ('KeyBank") as the administrative agent and KeyBank Capital Markets ("KeyBank Capital Markets") as the lead arranger. Pursuant to the Unsecured Credit Agreement, the Borrowers were provided with a $30 million unsecured credit facility (the "Unsecured Credit Facility"), which may be increased up to $100 million, in minimum increments of $10 million. The Unsecured Credit Facility has an initial term of two years, maturing on October 5, 2018, and may be extended for a one-year period if certain conditions are met and upon payment of an extension fee. The Unsecured Credit Facility has an interest rate calculated based on LIBOR Rate plus 2.25% or Base Rate plus 1.25%, both as provided in the Unsecured Credit Agreement. The Base Rate is calculated as the greater of (i) the KeyBank Prime rate or (ii) the Federal Funds rate plus ½ of 1%. Payments under the Unsecured Credit Facility are interest only and are due on the first day of each quarter. The obligations of the Borrowers of the Unsecured Credit Agreement are joint and several. The Borrowers have entered into cross-indemnification provisions with respect to their joint and several obligations under the Unsecured Credit Agreement. As of December 31, 2016, the Borrowers had 13 properties listed on the line of credit, which provided an available draw of approximately $25.7 million, and had drawn approximately $13.0 million, of which our portion of the current draw was approximately $4.8 million, based on our pro-rata ownership of the properties listed on the line of credit. Based on the 13 properties on the line of credit as of December 31, 2016, the REITs had an additional draw of approximately $12.7 million. For the year ended December 31, 2016, we had accrued approximately $33,000 in interest expense and $6,000 in unused line fees associated with our draw. In addition, as of December 31, 2016, the Borrowers had an available draw of approximate $12.7 million. On January 11, 2017, the Borrowers used approximately $12.5 million from the line of credit to acquire the Detroit Center Garage described in Note O – Subsequent Events

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value	Note L — Fair Value As of December 31, 2016, the Company had no financial assets and liabilities utilizing Level 1 or Level 2. The Company had assets and liabilities utilizing Level 3 inputs including investments in equity and cost method investees. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, our degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an asset or liability will be classified in its entirety based on the lowest level of input that is significant to the measurement of fair value. Fair value is a market-based measure considered from the perspective of a market participant who holds the asset or owes the liability rather than an entity-specific measure. Therefore, even when market assumptions are not readily available, our own assumptions are set to reflect those that market participants would use in pricing the asset or liability at the measurement date. The Company uses prices and inputs that are current as of the measurement date, including during periods of market dislocation, such as the recent illiquidity in the auction rate securities market. In periods of market dislocation, the observability of prices and inputs may be reduced for many instruments. This condition may cause our financial instruments to be reclassified from Level 1 to Level 2 or Level 3 and/or vice versa. Our valuation techniques will be consistent with at least one of the three possible approaches: the market approach, income approach and/or cost approach. Our Level 1 inputs are based on the market approach and consist primarily of quoted prices for identical items on active securities exchanges. Our Level 2 inputs are primarily based on the market approach of quoted prices in active markets or current transactions in inactive markets for the same or similar collateral that do not require significant adjustment based on unobservable inputs. Our Level 3 inputs are primarily based on the income and cost approaches, specifically, discounted cash flow analyses, which utilize significant inputs based on our estimates and assumptions. The following table presents the valuation of our financial assets and liabilities as of December 31, 2016 measured at fair value on a recurring basis by input levels: Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance at 12/31/16 Carrying Value on Balance Sheet at 12/31/16 Assets Investment in equity method investee $ -- $ -- $ 4,123,000 $ 4,123,000 $ 4,123,000

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Notes Payable	Note M — Notes Payable 2016 During January 2014, the entities holding four parking facilities (MVP PF Ft. Lauderdale 2013, LLC, MVP PF Memphis Court 2013, LLC, MVP PF Memphis Poplar 2013, LLC and MVP PF St. Louis 2013, LLC) issued a promissory note to Key Bank National Association for $4.3 million. This note bears an annual interest rate of 4.94%, is secured by four parking facilities, matures in February 2019 and is payable in monthly principal and interest payments of approximately $25,000. During December 2014, through the acquisition of Mabley Place, the Company issued a promissory note to Wells Fargo Bank for $9.0 million. This note bears an annual interest rate of 4.25%, is secured by the property, matures in December 2024 and is payable in monthly principal and interest payments of approximately $44,000. During March 2015, through the acquisition of Ft. Worth Taylor, the Company assumed a 10-year term loan with a balance of approximately $12.2 million, collateralized by real property located in Ft. Worth, Texas, matures in August 2021, bears an annual interest rate of 5.59%, and is payable in monthly installment payments of principal and interest totaling approximately $78,000. On November 17, 2016, we refinanced this loan with American National Insurance Company, for $13.15 million. The loan has a term of 10 years and has an annual interest rate of 4.50% and is payable in monthly installment payments of principal and interest totaling approximately $73,000, maturing in December 2026. As part of the refinancing of this loan the company was able to obtain an additional $0.5 million [in loan proceeds] for general repairs and maintenance to the Fort Worth property. During August 2015, Houston Saks Garage issued a promissory note for approximately $3.7 million. The note is collateralized by real property located in Houston, Texas, bears an annual interest rate of 4.25%, and is payable in monthly installment payments of principal and interest totaling approximately $20,000, maturing in August 2025. During January 2016, Indy City Park and Indy WA Street issued a promissory note to KeyBank for $8.2 million. The note is secured by real property located in Indianapolis, Indiana. The loan has a term of 10 years and has an annual interest rate of 4.59% and is payable in monthly installment payments of principal and interest totaling approximately $46,000, maturing in January 2026. During January 2016, St. Louis Convention, St. Louis Lucas and KC Cherry issued a promissory note to KeyBank for $3.5 million loan secured by real property located in St. Louis and Kansas City, Missouri. The loan has a term of 10 years and has an annual interest rate of 4.59% and is payable in monthly installment payments of principal and interest totaling approximately $20,000, maturing in January 2026. During April 2016, Minneapolis City Parking, LLC issued a promissory note to American National Insurance Company for $5.3 million loan secured by real property located in Minneapolis, Minnesota. The loan has a term of 10 years and has an interest rate of 4.5% and is payable in monthly installment payments of principal and interest totaling approximately $29,000, maturing in April 2026. During July 2016, Bridgeport Fairfield issued a promissory note to FBL Financial Group, Inc. for $4.4 million loan secured by real property located in Bridgeport, Connecticut. The loan has a term of 10 years and has an annual interest rate of 4.00% and is payable in monthly installment payments of principal and interest totaling approximately $23,000, maturing in August 2026. Total interest expense incurred for the years ended December 31, 2016, 2015 and 2014 was $2.4 million, $1.3 million and $0.2 million, respectively. Total loan amortization cost for the years ended December 31, 2016, 2015 and 2014 were $195,000, $85,000, and $22,000, respectively. As of December 31, 2016, future principal payments on the notes payable are as follows: 2017 $ 1,286,000 2018 1,194,000 2019 4,949,000 2020 1,185,000 2021 1,239,000 Thereafter 40,670,000 Total $ 50,523,000 Principal payments table amount does not reflect the unamortized loan issuance cost of $1,106,000 as of December 31, 2016. As of December 31, 2016, the principal balances on notes payable are as follows: Property Current Loan Balance Interest Rate Loan Maturity D&O Financing $145,000 3.81% 8/3/2017 Ft. Lauderdale 1,451,000 4.94% 2/1/2019 Memphis Court 136,000 4.94% 2/1/2019 Memphis Poplar 1,222,000 4.94% 2/1/2019 St. Louis 1,217,000 4.94% 2/1/2019 Mabley Place 8,690,000 4.25% 12/26/2024 Ft. Worth 13,126,000 4.50% 11/17/2026 Houston Saks Garage 3,534,000 4.25% 8/1/2025 St. Louis Lucas 3,422,000 4.59% 2/1/2026 Indy Garage 8,041,000 4.59% 2/1/2026 Minneapolis City Parking 5,173,000 4.50% 4/30/2026 Bridgeport Fairfield 4,366,000 4.00% 8/1/2026 Less unamortized loan issuance costs (1,106,000) Total $49,417,000 2015 During March 2013, Cedar Park issued a promissory note for approximately $1.8 million. The note was collateralized by real property located in Cedar Park, Texas, bears an annual interest rate of 4.66%, and was payable in monthly installment payments of principal and interest totaling approximately $10,000, with a lump sum payment of approximately $1.3 million due at maturity in April 2023. This loan was paid in full in October 2015 through the sale of the property. During September 2013, through the acquisition of Red Mountain, the Company financed a 7-year term loan with a balance of approximately $2.7 million, collateralized by real property located in Las Vegas, Nevada, matures in October 2020, bears an annual interest rate of 4.35%, and was payable in monthly installment payments of principal and interest totaling approximately $15,000. This loan was paid in full in May 2015 through the sale of the property. During January 2014, the entities holding the four parking facilities issued a promissory note to Key Bank National Association for $4.3 million. This note bears an annual interest rate of 4.94%, is secured by four parking facilities, matures in February 2019 and is payable in monthly principal and interest payments of approximately $25,000. During December 2014, through the acquisition of Mabley Place, the Company issued a promissory note to Wells Fargo Bank for $9.0 million. This note bears an annual interest rate of 4.25%, is secured by the property, matures in December 2024 and is payable in monthly principal and interest payments of approximately $44,000. During March 2015, through the acquisition of Ft. Worth Taylor, the Company assumed a 10-year term loan with a balance of approximately $12.2 million, collateralized by real property located in Ft. Worth, Texas, matures in August 2021, bears an annual interest rate of 5.59%, and is payable in monthly installment payments of principal and interest totaling approximately $78,000. During August 2015, Houston Saks Garage issued a promissory note for approximately $3.7 million. The note is collateralized by real property located in Houston, Texas, bears an annual interest rate of 4.25%, and is payable in monthly installment payments of principal and interest totaling approximately $30,000, maturing in August 2025. Total interest expense incurred for the years ended December 31, 2015 and 2014 is $1.3 million and $0.1 million, respectively. As of December 31, 2015, future principal payments on the notes payable are as follows: 2016 $ 735,000 2017 643,000 2018 676,000 2019 4,420,000 2020 627,000 Thereafter 21,610,000 Total $ 28,711,000 Principal payments table amount does not reflect the unamortized loan issuance cost of $534,000 as of December 31, 2015.

Assets Held For Sale

Assets Held For Sale	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Assets Held For Sale	Note N — Assets held for sale 2016 As of December 31, 2016, the Company had an 87.09% ownership interest in one property that was listed as held for sale, with a carrying value of approximately $6.1 million. This property was acquired on January 6, 2016, along with MVP REIT II, with the purchase of two parking lots located in Minneapolis, Minnesota. This property is accounted for at the fair value based on an appraisal. During June 2016, Minneapolis Venture entered into a PSA to sell the 10th Street lot “as is” to a third party for approximately $6.1 million. During October 2016, the PSA was cancelled. During February 2017, the Company entered into a letter of intent to sell a portion of the property (approximately 2.2 acres) to an unrelated third party for $3.0 million. The remaining portion of the property will be retained by the Company and will be leased to a parking operator. The following is a summary of the results of operations related to the assets held for sale for the year ended December 31, 2016: For The Year Ended December 31, 2016 Revenue $ 10,000 Expenses (254,000 ) Loss from asset held for sale, net of income taxes $ (244,000) 2015 During February 2015, management entered into a plan to sell the storage unit assets which results in the financial reporting of these assets, liabilities and results of operations related to the assets held for sale, which are classified as discontinued operations. On May 6, 2015, the Company sold the storage unit asset located in Nevada to a non-related third party for approximately $5.4 million. Proceeds of approximately $2.7 million from this sale were received after the promissory note for this property was paid in full. On October 29, 2015, the Company also sold the storage unit asset located in Cedar Park, TX to a non-related third party for approximately $4.3. Proceeds of approximately $2.6 million from this sale were received after the promissory note for this property was paid in full. The gain on sale is approximately $1.0 million. The following is a summary of the results of operations related to the assets held for sale for the year ended December 31, 2015: For The Year Ended December 31, 2015 Revenue $ 622,000 Expenses (408,000 ) Income from asset held for sale, net of income taxes $ 214,000 Gain on sale of investment in real estate held for sale 1,260,000 Total income from discontinued operations $ 1,474,000 2014 On April 30, 2014, the Company exercised its Purchase Right and acquired VRM I and VRM II’s interest in the five parking facilities, net of the assumed debt secured by the real estate and VRM II’s interest in the storage facility, net of the assumed debt secured by the real estate. In exchange VRM I and VRM II received interest in four office properties, net of the assumed debt secured by the real estate. The difference between the net amount of the assets exchanged was paid in cash. As a result, the Company now holds 100% interest in the five parking facilities and storage facility, and VRM I and VRM II together hold 100% interest in the four office properties The transaction was approved by the Board of Directors of the Company, VRM I and VRM II. The following is a summary of the results of operations related to the assets held for sale for January 1, 2014 through April 30, 2014: January 1, 2014 through April 30, 2014 Revenue $ 792,000 Expenses (655,000 ) Income from asset held for sale, net of income taxes $ 137,000 During July 2014, the Company entered into an agreement to sell the remaining 58% interest in Building C, LLC and 100% interest in Building A, LLC whose sole asset is an office building also located in Las Vegas, NV to VRM I and VRM II. The cash consideration, net of assumed debt of approximately $16.9 million, totals approximately $10.3 million. On July 31, 2014, the Company completed the sale of the remaining 58% interest in Building C, LLC to VRM I and VRM II. The sale of the interests in Building A, LLC was completed on August 29, 2014. The purchase price for both buildings is equal to the amount paid by the Company to acquire the buildings which acquisition was within the past twelve (12) months resulting in a net gain of approximately $0.1 million. No commissions were paid in connection with the purchase. The following is a summary of the results of operations related to the assets held for sale for January 1, 2014 through closing date (July 31, 2014 and August 29, 2014): January 1, 2014 through Closing Date (July 31, 2014 and August 29, 2014) Revenue $ 1,794,000 Expenses (1,296,000 ) Income from asset held for sale, net of income taxes $ 498,000 During February 2015, the management has entered into a plan to sell the storage unit assets which results in the financial reporting of these assets, liabilities and results of operation to held for sale and discontinued operations. The following is summary of net assets held for sale through December 31, 2014: December 31, 2014 Assets: Current assets $ 20,000 Property and equipment, net 8,226,000 Other assets 67,000 Total assets $ 8,313,000 Liabilities: Accounts payable and accrued liabilities $ 123,000 Notes payable 4,316,000 Total liabilities 4,439,000 Net assets held for sale $ 3,874,000 The following is a summary of the results of operations related to the assets held for sale for the year ended December 31, 2014: For The Year Ended December 31, 2014 Revenue $ 1,067,000 Expenses (826,000 ) Income from asset held for sale, net of income taxes $ 241,000 The Company recognized a gain on sale of investment in real estate held for sale of $44,000 for the year ended December 31, 2014.

Income Tax

Income Tax	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Tax	Note O — Income Tax Income Taxes and Distributions As a REIT, it generally will not be subject to federal income tax on taxable income distributed to the stockholders. In 2016, MVP REIT Inc. has no distributable taxable income. In addition, MVP REIT Inc. does not have any subsidiaries elected to be treated as TRSs pursuant to the Code to participate in services that would otherwise be considered impermissible for REITS and are subject to federal and state income tax at regular corporate tax rates. Tax Treatment of Distributions For federal income tax purposes, distributions to stockholders are characterized as ordinary income, capital gain distributions, or nontaxable distributions. Nontaxable distributions will reduce U.S. stockholders' basis (but not below zero) in their shares. The income tax treatment for distributions reportable for the years ended December 31, 2016, 2015 and 2014 is as follows: 2016 2015 2014 Ordinary $ -- $ -- $ -- Capital Gain - - -- Return of Capital 6,637,000 4,315,000 2,016,000 $ 6,637,000 $ 4,315,000 $ 2,016,000

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Note P — Subsequent Events The following subsequent events have been evaluated through the date of this filing with the SEC. During January 2017, the Company and MVP REIT II, through MVP Detroit Center Garage, LLC (“MVP Detroit Center”), an entity owned by the Company and MVP REIT II, acquired a multi-level parking garage consisting of approximately 1,275 parking spaces, located in Detroit, Michigan, for a purchase price of $55.0 million, plus acquisition and financing-related transaction costs. The Company owns a 20% equity interest in the MVP Detroit Center and MVP REIT II owns an 80% equity interest. The parking garage will be operated by SP Plus Corporation (“SP+”) under a long-term lease, where SP will be responsible for the first $572,000 in property taxes, pay annual base rent of $3.4 million, and 80% of all gross revenue above $5.0 million. As part of the acquisition MVP Detroit Center entered into a $31.5 million loan agreement with Bank of America, N.A., with a term of 10 years, amortized over 25 years, with monthly principal and interest payments totaling approximately $194,000, bearing an annual interest rate of 5.52%, secured by the parking garage, and maturing in February 2027.

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2016
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III Real Estate and Accumulated Depreciation	SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION December 31, 2016 Initial Cost Gross Carrying Amount at December 31, 2016 Description ST Encumbrance Land Buildings and Improvements Total Cost Capitalized Subsequent to Acquisition Land Building and Improvements Total Accumulated Depreciation (1) Date Acquired Rentable Square Feet Ft. Lauderdale FL -- $2,652,000 $728,000 $3,380,000 -- $2,652,000 $756,000 $3,408,000 $54,000 2014 n/a Memphis Court TN -- $194,000 -- $194,000 -- $194,000 -- $194,000 $1,000 2014 n/a Memphis Poplar TN -- $2,693,000 -- $2,693,000 -- $2,693,000 -- $2,693,000 $1,000 2014 n/a Kansas City KS -- $1,550,000 -- $1,550,000 -- $1,550,000 -- $1,550,000 -- 2014 n/a St. Louis MO -- $4,125,000 -- $4,125,000 -- $4,137,000 -- $4,137,000 $1,000 2014 n/a Mabley Place OH -- $4,050,000 $10,530,000 $14,580,000 -- $4,050,000 $10,797,000 $14,847,000 $571,000 2014 n/a Denver Sherman CO -- $585,000 -- $585,000 -- $585,000 -- $585,000 -- 2015 n/a Ft. Worth Taylor TX -- $5,834,000 $17,502,000 $23,336,000 -- $5,834,000 $17,502,000 $23,336,000 $803,000 2015 n/a Milwaukee Old World WI -- $1,000,000 -- $1,000,000 -- $1,000,000 -- $1,000,000 -- 2015 n/a St Louis Convention MO -- $2,575,000 -- $2,575,000 -- $2,575,000 -- $2,575,000 -- 2015 n/a Houston Saks TX -- $3,565,000 $4,816,000 $8,381,000 -- $3,565,000 $4,816,000 $8,381,000 $196,000 2015 n/a St. Louis Lucas MO -- $3,463,000 -- $3,463,000 -- $3,463,000 -- $3,463,000 -- 2015 n/a Milwaukee Wells WI -- $3,900,000 -- $3,900,000 -- $3,900,000 -- $3,900,000 -- 2015 n/a Wildwood NJ NJ -- $1,585,000 -- $1,585,000 -- $1,609,000 -- $1,585,000 $1,000 2015 n/a Indy City Park IN -- $1,226,000 $9,274,000 $10,500,000 -- $1,226,000 $9,274,000 $10,500,000 $297,000 2015 n/a Cherry Street MO -- $515,000 -- $515,000 -- $515,000 -- $515,000 -- 2015 n/a Indy WA Street IN -- $4,995,000 -- $4,995,000 -- $4,995,000 -- $4,995,000 -- 2015 n/a Meridian Lot IN -- $1,498,000 $1,498,000 -- $1,498,000 $1,498,000 $3,000 2016 n/a Milwaukee Clybourne WI -- $205,000 $205,000 -- $205,000 $205,000 -- 2016 n/a Milwaukee Arena WI -- $3,900,000 $3,900,000 -- $3,900,000 $3,900,000 -- 2016 n/a Clarksburg WV -- $628,000 $628,000 -- $628,000 $628,000 -- 2016 n/a Denver 1935 Sherman CO -- $2,438,000 $2,438,000 -- $2,438,000 $2,438,000 -- 2016 n/a Bridgeport Fairfield CT -- $972,000 $6,828,000 $7,800,000 -- $972,000 $6,828,000 $7,800,000 $131,000 2016 n/a Minneapolis City Parking MN -- $9,501,000 $9,501,000 -- $9,500,000 $9,500,000 $1,000 2016 n/a Houston Preston TX -- $2,800,000 $2,800,000 -- $2,800,000 $2,800,000 -- 2016 n/a -- $66,449,000 $49,678,000 $116,127,000 $- $66,484,000 $49,973,000 $116,457,000 $2,060,000 (1) The initial costs of buildings are depreciated over 39 years using a straight-line method of accounting; improvements capitalized subsequent to acquisition are depreciated over the shorter of the lease term or useful life, generally ranging from one to 20 years. The aggregate gross cost of property included above for federal income tax purposes approximated $116.1 million as of December 31, 2016. The following table reconciles the historical cost of total real estate held for investment for the years ended December 31, 2016, 2015 and 2014: 2016 2015 2014 Total real estate held for investment, inception (prior) $ 87,517,000 $ 26,523,000 $ -- Additions during period: -- -- Acquisitions 28,940,000 60,994,000 26,523,000 Total real estate held for investment, end of year $ 116,457,000 $ 87,517,000 $ 26,523,000 The following table reconciles the accumulated depreciation for the year ended December 31, 2016, 2015 and 2014: 2016 2015 2014 Accumulated depreciation, inception (prior) $ 812,000 $ 29,000 $ -- Additions during period: -- -- Depreciation of real estate 1,248,000 783,000 29,000 Accumulated depreciation, end of year $ 2,060,000 $ 812,000 $ 29,000

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Basis of Accounting	Basis of Accounting The consolidated financial statements of the Company are prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“GAAP”). In the opinion of management, all normal recurring adjustments considered necessary to give a fair presentation of operating results for the periods presented have been included.
Consolidation	Consolidation The Company’s consolidated financial statements include its accounts and the accounts of its subsidiaries, REH and all of the following subsidiaries as well as the Company’s assets that were sold during 2015. All intercompany profits and losses, balances and transactions are eliminated in consolidation. MVP PF Ft. Lauderdale 2013, LLC MVP PF Memphis Court 2013, LLC MVP PF Memphis Poplar 2013, LLC MVP PF St. Louis 2013, LLC MVP PF Kansas City 2013, LLC Mabley Place Garage; LLC MVP Denver Sherman; LLC MVP Fort Worth Taylor, LLC MVP Milwaukee Old World, LLC MVP St. Louis Convention Plaza, LLC MVP Houston Saks Garage, LLC MVP St. Louis Lucas, LLC MVP Milwaukee Wells, LLC MVP Wildwood NJ Lot, LLC MVP Indianapolis City Park Garage, LLC MVP KC Cherry Lot, LLC MVP Indianapolis Washington Street Lot, LLC Minneapolis Venture, LLC MVP Indianapolis Meridian, LLC MVP Milwaukee Clybourn, LLC MVP Milwaukee Arena, LLC MVP Clarksburg Lot, LLC MVP Denver 1935 Sherman, LLC MVP Bridgeport Fairfield, LLC Minneapolis City Parking MVP Houston Preston Lot, LLC Under GAAP, the Company’s consolidated financial statements will also include the accounts of its consolidated subsidiaries and joint ventures in which the Company is the primary beneficiary, or in which the Company has a controlling interest. In determining whether the Company has a controlling interest in a joint venture and the requirement to consolidate the accounts of that entity, the Company’s management considers factors such as an entity’s purpose and design and the Company’s ability to direct the activities of the entity that most significantly impacts the entity’s economic performance, ownership interest, board representation, management representation, authority to make decisions, and contractual and substantive participating rights of the partners/members as well as whether the entity is a variable interest entity in which it will absorb the majority of the entity’s expected losses, if they occur, or receive the majority of the expected residual returns, if they occur, or both. Equity investments in which the Company exercises significant influence but does not control and is not the primary beneficiary are accounted for using the equity method. The Company's share of its equity method investees' earnings or losses is included in other income in the accompanying consolidated statements of operations. Investments in which the Company is not able to exercise significant influence over the investee are accounted for under the cost method.
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 disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management makes significant estimates regarding revenue recognition, purchase price allocations to record investments in real estate, and derivative financial instruments and hedging activities, as applicable.
Concentration	Concentration The Company had nine, six and two different parking tenants as of December 31, 2016, 2015 and 2014, respectively. One tenant, Standard Parking Plus (“SP+”), represented a concentration for the years ended December 31, 2016, 2015 and 2014 in regards to parking base rental revenue. During the year ended December 31, 2016, 2015 and 2014, SP+ accounted for 68%, 76% and 83%, respectively, of the parking base rental revenue.
Acquisitions	Acquisitions The Company records the acquired tangible and intangible assets and assumed liabilities of acquisitions of all operating properties and those development and redevelopment opportunities that meet the accounting criteria to be accounted for as business combinations at fair value at the acquisition date. The Company assesses and considers fair value based on estimated cash flow projections that utilize available market information and discount and/or capitalization rates that the Company deems appropriate. Estimates of future cash flows are based on a number of factors including historical operating results, known and anticipated trends, and market and economic conditions. The acquired assets and assumed liabilities for an operating property acquisition generally include but are not limited to: land, buildings and improvements, construction in progress and identified tangible and intangible assets and liabilities associated with in-place leases, including tenant improvements, leasing costs, value of above-market and below-market operating leases and ground leases, acquired in-place lease values and tenant relationships, if any. The fair value of land is derived from comparable sales of land within the same submarket and/or region. The fair value of buildings and improvements, tenant improvements, and leasing costs are based upon current market replacement costs and other relevant market rate information. The fair value of the above-market or below-market component of an acquired in-place operating lease is based upon the present value (calculated using a market discount rate) of the difference between (i) the contractual rents to be paid pursuant to the lease over its remaining non-cancellable lease term and (ii) management's estimate of the rents that would be paid using fair market rental rates and rent escalations at the date of acquisition measured over the remaining non-cancellable term of the lease for above-market operating leases and the initial non-cancellable term plus the term of any below-market fixed rate renewal options, if applicable, for below-market operating leases. The amounts recorded for above-market operating leases are included in deferred leasing costs and acquisition-related intangibles, net on the balance sheet and are amortized on a straight-line basis as a reduction of rental income over the remaining term of the applicable leases. The amounts recorded for below-market operating leases are included in deferred revenue and acquisition-related liabilities, net on the balance sheet and are amortized on a straight-line basis as an increase to rental income over the remaining term of the applicable leases plus the term of any below-market fixed rate renewal options, if applicable. Our below-market operating leases generally do not include fixed rate or below-market renewal options. The fair value of acquired in-place leases is derived based on management's assessment of lost revenue and costs incurred for the period required to lease the “assumed vacant” property to the occupancy level when purchased. This fair value is based on a variety of considerations including, but not necessarily limited to: (1) the value associated with avoiding the cost of originating the acquired in-place leases; (2) the value associated with lost revenue related to tenant reimbursable operating costs estimated to be incurred during the assumed lease-up period; and (3) the value associated with lost rental revenue from existing leases during the assumed lease-up period. Factors considered by us in performing these analyses include an estimate of the carrying costs during the expected lease-up periods, current market conditions, and costs to execute similar leases. In estimating carrying costs, the Company includes real estate taxes, insurance and other operating expenses, and estimates of lost rental revenue during the expected lease-up periods based on current market demand at market rates. In estimating costs to execute similar leases, the Company considers leasing commissions, legal and other related expenses. The amount recorded for acquired in-place leases is included in deferred leasing costs and acquisition-related intangibles, net on the balance sheet and amortized as an increase to depreciation and amortization expense over the remaining term of the applicable leases. If a lease were to be terminated or if termination were determined to be likely prior to its contractual expiration (for example resulting from bankruptcy), amortization of the related unamortized in-place lease intangible would be accelerated. The determination of the fair value of any debt assumed in connection with a property acquisition is estimated by discounting the future cash flows using interest rates available for the issuance of debt with similar terms and remaining maturities. The determination of the fair value of the acquired tangible and intangible assets and assumed liabilities of operating property acquisitions requires us to make significant judgments and assumptions about the numerous inputs discussed above. The use of different assumptions in these fair value calculations could significantly affect the reported amounts of the allocation of our acquisition related assets and liabilities and the related amortization and depreciation expense recorded for such assets and liabilities. In addition, because the value of above and below market leases are amortized as either a reduction or increase to rental income, respectively, our judgments for these intangibles could have a significant impact on our reported rental revenues and results of operations. Costs directly associated with all operating property acquisitions and those development and redevelopment acquisitions that meet the accounting criteria to be accounted for as business combinations are expensed as incurred. During the year ended December 31, 2016, the Company expensed approximately $1.5 million related party acquisition costs and $1.0 million of non-related party acquisition costs, for the purchase of or investment in 12 properties. During the year ended December 31, 2015, the Company expensed approximately $2.6 million of related party and $0.7 million non-related party acquisition costs, for the purchase of 12 properties. During the year ended December 31, 2014, the Company expensed approximately $1,898,000 of related party and $235,000 non-related party acquisition costs based on the level of our acquisition activity. Our acquisition expenses are directly related to our acquisition activity and if our acquisition activity was to increase or decrease, so would our acquisition costs. Costs directly associated with development acquisitions accounted for as asset acquisitions are capitalized as part of the cost of the acquisition. During the years ended December 31, 2016, 2015 and 2014, the Company did not capitalize any such acquisition costs.
Impairment of Long Lived Assets	Impairment of Long Lived Assets When circumstances indicate the carrying value of a property may not be recoverable, the Company reviews the asset for impairment. This review is based on an estimate of the future undiscounted cash flows, excluding interest charges, expected to result from the property’s use and eventual disposition. These estimates consider factors such as expected future operating income, market and other applicable trends and residual value, as well as the effects of leasing demand, competition and other factors. If impairment exists, due to the inability to recover the carrying value of a property, an impairment loss is recorded to the extent that the carrying value exceeds the estimated fair value of the property for properties to be held and used. For properties held for sale, the impairment loss is the adjustment to fair value less estimated cost to dispose of the asset. These assessments have a direct impact on net income because recording an impairment loss results in an immediate negative adjustment to net income.
Derivative Instruments	Derivative Instruments The Company may use derivative financial instruments to hedge all or a portion of the interest rate risk associated with its borrowings. Certain techniques used to hedge exposure to interest rate fluctuations may also be used to protect against declines in the market value of assets that result from general trends in debt markets. The principal objective of such agreements is to minimize the risks and/or costs associated with the Company’s operating and financial structure as well as to hedge specific anticipated transactions. The Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Derivatives may also be designated as hedges of the foreign currency exposure of a net investment in a foreign operation. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. The accounting for subsequent changes in the fair value of these derivatives depends on whether each has been designed and qualifies for hedge accounting treatment. If the Company elects not to apply hedge accounting treatment, any changes in the fair value of these derivative instruments is recognized immediately in gains (losses) on derivative instruments in the consolidated statement of operations. If the derivative is designated and qualifies for hedge accounting treatment, the change in the estimated fair value of the derivative is recorded in other comprehensive income (loss) to the extent that it is effective. Any ineffective portion of a derivative’s change in fair value will be immediately recognized in earnings.
Cash	Cash The Company maintains the majority of its cash balances in a national financial institution located in Las Vegas, Nevada. The balances are insured by the Federal Deposit Insurance Corporation under the same ownership category of $250,000. As of December 31, 2016 and 2015, the Company had approximately $1.8 million and approximately $9.1 million in excess of the federally-insured limits, respectively.
Restricted Cash	Restricted Cash Restricted cash primarily consists of escrowed tenant improvement funds, real estate taxes, capital improvement funds, insurance premiums, and other amounts required to be escrowed pursuant to loan agreements.
Revenue Recognition	Revenue Recognition The Company’s revenues, which are derived primarily from rental income, include rents that each tenant pays in accordance with the terms of each lease reported on a straight-line basis over the initial term of the lease. Since some of the Company’s leases will provide for rental increases at specified intervals, straight-line basis accounting requires the Company to record a receivable, and include in revenues, unbilled rent receivables that the Company will only receive if the tenant makes all rent payments required through the expiration of the initial term of the lease. The Company may recognize interest income from loans on an accrual basis over the expected terms of the loans using the effective interest method. The Company may recognize fees, discounts, premiums, anticipated exit fees and direct cost over the terms of the loans as an adjustment to the yield. The Company may recognize fees on commitments that expire unused at expiration. The Company may recognize interest income from available-for-sale securities on an accrual basis over the life of the investment on a yield-to-maturity basis. The Company will continually review receivables related to rent and unbilled rent receivables and determine collectability by taking into consideration the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. In the event that the collectability of a receivable is in doubt, the Company will record an increase in the Company’s allowance for uncollectible accounts or record a direct write-off of the receivable after exhaustive efforts at collection.
Advertising Costs	Advertising Costs Advertising costs incurred in the normal course of operations and are expensed as incurred. During the years ended December 31, 2016, 2015 and 2014, the Company had no advertising costs.
Investments in Real Estate and Fixed Assets	Investments in Real Estate and Fixed Assets Investments in real estate and fixed assets are stated at cost less accumulated depreciation. Depreciation is provided principally on the straight-line method over the estimated useful lives of the assets, which are primarily 3 to 40 years. The cost of repairs and maintenance is charged to expense as incurred. Expenditures for property betterments and renewals are capitalized. Upon sale or other disposition of a depreciable asset, cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in other income (expense). The Company periodically evaluates whether events and circumstances have occurred that may warrant revision of the estimated useful lives of fixed assets or whether the remaining balance of fixed assets should be evaluated for possible impairment. The Company uses an estimate of the related undiscounted cash flows over the remaining life of the fixed assets in measuring their recoverability.
Investments in Real Estate Loans	Investments in Real Estate Loans Subject to the restrictions on related-party transactions set forth in the Company’s charter, the Company may, from time to time, acquire or sell investments in real estate loans from or to the advisor or other related parties without a premium. The primary purpose is to either free up capital to provide liquidity for various reasons, such as loan diversification, or place excess capital in investments to maximize the use of our capital. Selling or buying loans allows us to diversify our loan portfolio within these parameters. Due to the short-term nature of the loans the Company makes and the similarity of interest rates in loans the Company normally would invest in, the fair value of a loan typically approximates its carrying value. Accordingly, discounts or premiums typically do not apply upon sales of loans and therefore, generally no gain or loss is recorded on these transactions, regardless of whether to a related or unrelated party. Investments in real estate loans are secured by deeds of trust or mortgages. Generally, our real estate loans require interest only payments with a balloon payment of the principal at maturity. The Company has both the intent and ability to hold real estate loans until maturity and therefore, real estate loans are classified and accounted for as held for investment and are carried at amortized cost. Loans sold to or purchased from affiliates are accounted for at the principal balance and no gain or loss is recognized by us or any affiliate. Loan-to-value ratios are initially based on appraisals obtained at the time of loan origination and are updated, when new appraisals are received or when management’s assessment of the value has changed, to reflect subsequent changes in value estimates. Such appraisals are generally dated within 12 months of the date of loan origination and may be commissioned by the borrower. The Company considers a loan to be impaired when, based upon current information and events, it believes it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. The Company’s impaired loans include troubled debt restructuring, and performing and non-performing loans in which full payment of principal or interest is not expected. The Company calculates an allowance required for impaired loans based on the present value of expected future cash flows discounted at the loan’s effective interest rate, or at the loan’s observable market price or the fair value of its collateral. Loans that have been modified from their original terms are evaluated to determine if the loan meets the definition of a Troubled Debt Restructuring (“TDR”) as defined by ASC 310-40. When the Company modifies the terms of an existing loan that is considered a TDR, it is considered performing as long as it is in compliance with the modified terms of the loan agreement. If the modification calls for deferred interest, it is recorded as interest income as cash is collected.
Allowance for Loan Losses	Allowance for Loan Losses The Company will maintain an allowance for loan losses to the extent it makes investments in real estate loans for estimated credit impairment. The Company’s estimate of losses is based on a number of factors including the types and dollar amounts of loans in the portfolio, adverse situations that may affect the borrower’s ability to repay, prevailing economic conditions and the underlying collateral securing the loan. Additions to the allowance are provided through a charge to earnings and are based on an assessment of certain factors, which may indicate estimated losses on the loans. Actual losses on loans are recorded first as a reduction to the allowance for loan losses. Generally, subsequent recoveries of amounts previously charged off are recognized as income. Estimating allowances for loan losses requires significant judgment about the underlying collateral, including liquidation value, condition of the collateral, competency and cooperation of the related borrower and specific legal issues that affect loan collections or taking possession of the property. As a commercial real estate lender willing to invest in loans to borrowers who may not meet the credit standards of other financial institutional lenders, the default rate on our loans could be higher than those generally experienced in the real estate lending industry. The Company and the Advisor generally approve loans more quickly than other real estate lenders and, due to our expedited underwriting process; there is a risk that the credit inquiry performed will not reveal all material facts pertaining to a borrower and the security. Additional facts and circumstances may be discovered as the Company continues efforts in the collection and foreclosure processes. This additional information often causes management to reassess its estimates. Circumstances that may cause significant changes in our estimated allowance include, but are not limited to: · Declines in real estate market conditions, which can cause a decrease in expected market value; · Discovery of undisclosed liens for community improvement bonds, easements and delinquent property taxes; · Lack of progress on real estate developments after the Company advances funds. The Company customarily utilizes disbursement agents to monitor the progress of real estate developments and approve loan advances. After further inspection of the related property, progress on construction occasionally does not substantiate an increase in value to support the related loan advances; · Unanticipated legal or business issues that may arise subsequent to loan origination or upon the sale of foreclosed property; and · Appraisals, which are only opinions of value at the time of the appraisal, may not accurately reflect the value of the property.
Organization, Offering and Related Costs	Organization, Offering and Related Costs Certain organization, offering and related costs, including legal, accounting, printing, marketing expenses and the salaries and direct expenses of the employees of the Advisor and its affiliates, have been incurred by the Advisor on behalf of the Company. After the Company reimbursed $100,000 of such costs, which has been paid to the Advisor, no additional reimbursements will be made unless the aggregate amount of such reimbursements does not exceed 0.75% of the gross offering proceeds as of the date of reimbursement. Prior to the commencement of our operations, such offering costs had been deferred and such deferred offering costs have been amortized to expense as offering costs over the 12-month period commenced January 1, 2013 through December 31, 2013, on a straight-line basis.
Stock-Based Compensation	Stock-Based Compensation The Company has a stock-based incentive award plan, which is accounted for under the guidance for share based payments. The expense for such awards will be included in general and administrative expenses and is recognized over the vesting period or when the requirements for exercise of the award have been met (See Note G — Stock-Based Compensation).
Income Taxes	Income Taxes The Company has elected, and operates in a manner that will allow the Company, to qualify to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended, commencing with the taxable year ended December 31, 2013. If the Company qualifies for taxation as a REIT, it generally will not be subject to federal corporate income tax to the extent it distributes all of its REIT taxable income to its stockholders, and so long as it distributes at least 90% of its REIT taxable income. REITs are subject to a number of other organizational and operational requirements. Even if the Company qualifies to be taxed as a REIT, it may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed income.
Per Share Data	Per Share Data The Company calculates basic earnings per share by dividing net income for the period by weighted-average shares of its common stock outstanding for a respective period. Diluted earnings per share takes into account the effect of dilutive instruments, such as stock options and convertible stock, but uses the average share price for the period in determining the number of incremental shares that are to be added to the weighted-average number of shares outstanding. The Company had no outstanding common share equivalents during the years ended December 31, 2016, 2015 and 2014. In September 2012, upon the commencement of our offering, the Company issued 1,000 shares of convertible stock to our advisor. After giving effect to the release of waivers and waiver agreements executed in August and September of 2014, all of which were previously disclosed in Form 8-Ks and prospectus supplements, the convertible stock will convert into shares of our common stock representing 3.50% of the outstanding shares of our common stock immediately preceding the conversion if and when: (a) the Company has made total distributions on the then outstanding common shares equal to the invested capital attributable to those shares plus a 6.00% cumulative, non-compounded, annual pre-tax return on such invested capital; or (b) (i) the Company lists its common shares for trading on a national securities exchange and (ii) (x) the sum of the aggregate market value of the issued and outstanding common shares plus the aggregate amount of all distributions on the Company’s common shares exceeds (y) the sum of the aggregate capital contributed by investors (less any capital returned in the form of distributions) plus an amount equal to a 6% cumulative, pre-tax non-compounded annual return to investors; or (c) the advisory agreement is terminated or not renewed, but only if at the time of such termination or non-renewal, the requirements for conversion set forth in either of the immediately preceding clause (a) or (b) also shall have been satisfied. For purposes of such calculation, the market value of the Company’s outstanding common stock will be calculated based on the average market value of the shares of common stock issued and outstanding at listing over the 30 trading days beginning 180 days after the shares are first listed for trading on a national securities exchange.
Reportable Segments	Reportable Segments The Company is currently authorized to operate two reportable segments, investments in real estate loans and investments in real property. As of December 31, 2016, the Company only operates in the investment in real property segment.
Reclassifications	Reclassifications In conjunction with the adoption of new accounting standards, certain debt or loan issuance costs for the year December 31, 2015, have been reclassified to conform to the current year’s presentation.
Accounting and Auditing Standards Applicable to "Emerging Growth Companies"	Accounting and Auditing Standards Applicable to “Emerging Growth Companies” The Company is an “emerging growth company” under the recently enacted JOBS Act. For as long as the Company remains an “emerging growth company,” which may be up to five fiscal years, the Company is not required to (1) comply with any new or revised financial accounting standards that have different effective dates for public and private companies until those standards would otherwise apply to private companies, (2) provide an auditor’s attestation report on management’s assessment of the effectiveness of internal control over financial reporting pursuant to Section 404 of the Sarbanes-Oxley Act, (3) comply with any new requirements adopted by the Public Company Accounting Oversight Board, or the PCAOB, requiring mandatory audit firm rotation or a supplement to the auditor’s report in which the auditor would be required to provide additional information about the audit and the financial statements of the issuer or (4) comply with any new audit rules adopted by the PCAOB after April 5, 2012, unless the SEC determines otherwise. The Company intends to take advantage of such extended transition period including 404(b) reporting subject to further management evaluation. Since the Company will not be required to comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required for other public companies, the Company’s financial statements may not be comparable to the financial statements of companies that comply with public company effective dates. If the Company were to subsequently elect to instead comply with these public company effective dates, such election would be irrevocable pursuant to Section 107 of the JOBS Act.
Non-controlling Interests	Non-controlling Interests The FASB issued authoritative guidance for non-controlling interests in December 2007, which establishes accounting and reporting standards for the non-controlling interest in a subsidiary and for the deconsolidation of a subsidiary. The guidance clarifies that a non-controlling interest in a subsidiary, which is sometimes referred to as an unconsolidated investment, is an ownership interest in the consolidated entity that should be reported as a component of equity in the consolidated financial statements. Among other requirements, the guidance requires consolidated net income to be reported at amounts attributable to both the parent and the non-controlling interest. It also requires disclosure, on the face of the consolidated income statement, of the amounts of consolidated net income attributable to the parent and to the non-controlling interest.

Investments in Real Estate (Tab

Investments in Real Estate (Tables)	12 Months Ended
	Dec. 31, 2016
Banking and Thrift [Abstract]
Schedule Of Real Estate Properties	Property Location Date Acquired Investments in Real Estate Total % of Portfolio Zoning Height Restriction Parking Tenant Lease Commencement Date Lease Term Ft. Lauderdale Ft. Lauderdale, FL 7/31/2013 $3,409,000 2.9% RAC-CC 150 Feet SP+ 2/1/2014 5 yr. w/2 5 yr. ext. Memphis Court Memphis, TN 8/28/2013 $194,000 0.2% CBD Unlimited SP+ 3/14/2012 2 Years remaining Memphis Poplar Memphis, TN 8/28/2013 $2,693,000 2.3% CBD Unlimited Best Park 3/1/2014 5 yr. w/2 5 yr. ext. Kansas City Kansas City, MO 8/28/2013 $1,550,000 1.3% B4-5 Unlimited SP+ 3/14/2012 15 Years St. Louis St Louis, MO 9/4/2013 $4,137,000 3.5% I (CBD) 200 Feet SP+ 12/1/2013 5 yr. w/2 5 yr. ext. Mabley Place Cincinnati, OH 12/9/2014 $14,847,000 12.7% DD-A 510 Feet SP+ 12/9/2014 10 Years Denver Sherman Denver, CO 1/26/2015 $585,000 0.5% CMX-16 200 Feet Denver SD 7/1/2014 10 Years w/1 5 yr. ext. Ft. Worth Fort Worth, TX 3/16/2015 $23,336,000 20.0% CBD-H Unlimited SP+ 3/16/2015 10 Years Milwaukee Old World Milwaukee, WI 3/31/2015 $1,000,000 0.9% C9-E 40 Feet SP+ 3/31/2015 5 yr. w/1 5 yr. ext. St. Louis Convention St. Louis, MO 5/31/2015 $2,575,000 2.2% I (CBD) 200 Feet SP+ 5/13/2015 5 yr. w/1 5 yr. ext. Houston Saks Garage Houston, TX 5/28/2015 $8,380,000 7.2% N/A Unlimited iPark 5/28/2015 10 yr. w/1 5 yr. ext. St. Louis Lucas St. Louis, MO 6/29/2015 $3,463,000 3.0% I (CBD) 200 Feet SP+ 6/29/2015 5 yr. w/1 5 yr. ext. Milwaukee Wells Milwaukee, WI 6/30/2015 $3,900,000 3.3% C9-E 40 Feet SP+ 6/30/2015 10 Years Wildwood NJ Lot I Wildwood, NJ 7/10/2015 $994,000 0.9% T/E 35 feet SP+ 1/1/2016 5 yr. w/1 5 yr. ext. Indy City Parking Garage Indianapolis, IN 10/5/2015 $10,500,000 9.0% B4C-1 Unlimited SP+ 1/15/2016 5 yr. w/1 5 yr. ext. KC Cherry Lot Kansas City, MO 10/9/2015 $515,000 0.4% CDB-1 RC 5 Stories ABM 10/5/2015 5 yr. w/1 5 yr. ext. Indy WA Street Indianapolis, IN 10/29/2015 $4,995,000 4.3% UR Per Plan SP+ 10/9/2015 5 yr. w/1 5 yr. ext. Wildwood NJ Lot II Wildwood, NJ 12/16/2015 $615,000 0.5% CBD-2 Unlimited Denison 10/30/2015 10 Years Minneapolis City Parking Minneapolis, MN 1/6/2016 $9,500,000 8.2% T/E 35 feet SP+ 1/1/2016 5 yr. w/1 5 yr. ext. Indianapolis Meridian Indianapolis, IN 1/15/2016 $1,498,000 1.3% CBD-2/RC Unlimited Denison Parking 1/20/2016 10 Years Milwaukee Clybourn Milwaukee, WI 1/20/2016 $205,000 0.2% C9F(A) 30 Feet Secure Parking USA 2/1/2016 5 Years Milwaukee Arena Milwaukee, WI 2/1/2016 $3,900,000 3.3% RED Unlimited SP+ 2/9/2016 5 yr. w/1 5 yr. ext. Clarksburg Lot Clarksburg, WV 2/9/2016 $628,000 0.5% BPO 60 Feet ABM 2/12/2016 5 Years Denver 1935 Sherman Denver, CO 2/12/2016 $2,438,000 2.1% CMX-16 200 Feet SP+ 3/30/2016 10 Years Bridgeport Fairfield Bridgeport, CT 3/30/2016 $7,800,000 6.7% DVD-CORE 65 Feet SP+ 1/15/2016 10 Years Houston Preston Houston, TX 11/22/2016 $2,800,000 2.4% None Unlimited iPark Services 12/1/2016 10 Years Fixed Assets $88,000 0.1% $116,545,000

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Business Combinations [Abstract]
Schedule Of Business Acquisitions	Property Name Location Purchase Date Property Type # Spaces Property Size (Acres) Retail Sq Ft Aggregate Initial Purchase Price % Owned MVP PF Ft. Lauderdale 2013, LLC Ft. Lauderdale, FL 7/31/2013 Lot 66 0.61 4,017 $3,400,000 100.0% MVP PF Kansas City 2013, LLC Kansas City, MO 8/28/2013 Lot 164 1.18 N/A $1,550,000 100.0% MVP PF Memphis Poplar 2013, LLC Memphis, TN 8/28/2013 Lot 125 0.86 N/A $2,685,000 100.0% MVP PF Memphis Court 2013, LLC Memphis, TN 8/28/2013 Lot 37 0.41 N/A $190,000 100.0% MVP PF St. Louis 2013, LLC St Louis, MO 9/4/2013 Lot 179 1.22 N/A $4,125,000 100.0% MVP Denver Sherman, LLC Denver, CO 1/26/2015 Lot 28 0.14 N/A $585,000 100.0% MVP Milwaukee Old World, LLC Milwaukee, WI 3/31/2015 Lot 54 0.26 N/A $1,000,000 100.0% MVP St. Louis Convention Plaza, LLC St. Louis, MO 5/13/2015 Lot 221 1.26 N/A $2,575,000 100.0% MVP St. Louis Lucas, LLC St. Louis, MO 6/29/2015 Lot 217 1.16 N/A $3,463,000 100.0% MVP Milwaukee Wells, LLC Milwaukee, WI 6/30/2015 Lot 100 0.95 N/A $3,900,000 100.0% MVP Wildwood NJ Lot, LLC (1) Wildwood, NJ 7/10/2015 Lot 29 0.26 N/A $970,000 100.0% MVP KC Cherry Lot, LLC Kansas City, MO 10/9/2015 Lot 84 0.60 N/A $515,000 100.0% MVP Indianapolis WA Street Lot, LLC Indianapolis, IN 10/29/2015 Lot 150 1.07 N/A $4,995,000 100.0% MVP Wildwood NJ Lot, LLC #2 (1) Wildwood, NJ 12/16/2015 Lot 45 0.31 N/A $615,000 100.0% Minneapolis City Parking, LLC Minneapolis, MN 1/6/2016 Lot 270 4.36 N/A $9,395,000 87.0% MVP Indianapolis Meridian Lot, LLC Indianapolis, IN 1/15/2016 Lot 39 0.24 N/A $1,550,000 100.0% MVP Milwaukee Clybourn, LLC Milwaukee, WI 1/20/2016 Lot 15 0.06 N/A $205,000 100.0% MVP Milwaukee Arena Lot, LLC Milwaukee, WI 2/1/2016 Lot 75 1.11 N/A $3,900,000 100.0% MVP Clarksburg Lot, LLC Clarksburg, WV 2/9/2016 Lot 94 0.81 N/A $620,000 100.0% MVP Denver Sherman 1935, LLC Denver, CO 2/12/2016 Lot 72 0.43 N/A $2,438,000 76.0% MVP Houston Preston Lot, LLC Houston, TX 11/22/2016 Lot 46 0.23 N/A $2,800,000 80.0% Mabley Place Garage, LLC Cincinnati, OH 12/9/2014 Garage 775 0.90 8,400 $14,580,000 83.0% MVP Fort Worth Taylor, LLC Fort Worth, TX 3/16/2015 Garage 1,013 1.18 11,828 $23,336,000 100.0% MVP Houston Saks Garage, LLC Houston, TX 5/28/2015 Garage 265 0.36 5,000 $8,375,000 100.0% MVP Indianapolis City Park, LLC Indianapolis, IN 10/5/2015 Garage 370 0.47 N/A $10,500,000 100.0% MVP Bridgeport Fairfield Garage, LLC Bridgeport, CT 3/30/2016 Garage 878 1.01 4,349 $7,800,000 90.0% MVP Minneapolis Venture, LLC Minneapolis, MN 1/6/2016 For Sale Lot 185 4.36 N/A $6,100,000 87.0%
Acquisition Date Fair Value Of The Total Consideration Transferred			Assets Cash $ 101,000 Other assets 22,000 Land and improvements 6,275,000 Building and improvements 18,521,000 Tenant improvements 165,000 Total assets transferred 25,084,000 Liabilities Accounts payable and accrued liabilities 58,000 Notes payable 14,335,000 Total liabilities transferred 14,393,000 Acquisition-date fair value of the total consideration transferred $ 10,691,000
Assets Acquired And Liabilities Assumed	Assets Liabilities Land and Improvements Building and improvements Total assets acquired Notes Payable Assumed Net assets and liabilities acquired Minneapolis Venture* $ 6,100,000 $ -- $ 6,100,000 $ -- $ 6,100,000 Indianapolis Meridian 1,550,000 -- 1,550,000 -- 1,550,000 Milwaukee Clybourn 205,000 -- 205,000 -- 205,000 Milwaukee Arena 3,900,000 -- 3,900,000 -- 3,900,000 Clarksburg Lot 620,000 -- 620,000 -- 620,000 Denver 1935 Sherman 2,438,000 -- 2,438,000 -- 2,438,000 Bridgeport Fairfield 972,000 6,828,000 7,800,000 -- 7,800,000 Minneapolis City Parking 9,395,000 -- 9,395,000 -- 9,395,000 Houston Preston Lot 2,800,000 -- 2,800,000 -- 2,800,000 $ 27,980,000 $ 6,828,000 $ 34,808,000 $ -- $ 34,808,000	Assets Liabilities Land and Improvements Building and improvements Total assets acquired Notes Payable Assumed Net assets and liabilities acquired Denver Sherman $ 585,000 $ -- $ 585,000 $ -- $ 585,000 Ft. Worth Taylor 5,834,000 17,502,000 23,336,000 12,180,000 11,156,000 Milwaukee Old World 1,000,000 -- 1,000,000 -- 1,000,000 St. Louis Convention Plaza 2,575,000 -- 2,575,000 -- 2,575,000 Houston Saks Garage 3,565,000 4,810,000 8,375,000 -- 8,375,000 St. Louis Lucas 3,463,000 -- 3,463,000 -- 3,463,000 Milwaukee Wells 3,900,000 -- 3,900,000 -- 3,900,000 Wildwood NJ Lot#1 970,000 -- 970,000 -- 970,000 Indy City Park 1,226,000 9,274,000 10,500,000 -- 10,500,000 KC Cherry Street 515,000 -- 515,000 -- 515,000 Indy WA Street 4,995,000 -- 4,995,000 -- 4,995,000 Wildwood NJ #2 615,000 -- 615,000 -- 615,000 $ 29,243,000 $ 31,586,000 $ 60,829,000 $ 12,180,000 $ 48,649,000	Assets Acquired Assets Cash received $ 1,392,000 Other assets 171,000 Land and improvements 11,200,000 Building and improvements 736,000 49% Non-controlling interest portion of Red Mountain 1,208,000 Total assets acquired 14,707,000 Liabilities Accrued liabilities 10,000 Notes payable 4,278,000 Total liabilities assumed 4,288,000 Net assets acquired $ 10,419,000
Pro Forma Consolidated Results Of Operations	For the Years Ended December 31, 2016 2015 2014 Revenues from continuing operations $ 8,943,000 $ 6,568,000 $ 2,576,000 Net income (loss) available to common stockholders $ (2,781,000) (99,000) $ 1,074,000 Net loss available to common stockholders per share – basic $ (0.25) $ (0.01) $ 0.30 Net loss available to common stockholders per share – diluted $ (0.25) $ (0.01) $ 0.30	For the year ended December 31, 2015 For the year ended December 31, 2014 Revenues from continuing operations $ 6,534,000 $ 4,829,000 Net income (loss) available to common stockholders $ (75,000 ) $ 545,000 Net income (loss) available to common stockholders per share – basic $ (0.01 ) $ 0.15 Net income (loss) available to common stockholders per share – diluted $ (0.01 ) $ 0.15	For the year ended December 31, 2014 For the year ended December 31, 2013 Revenues from continuing operations $ 2,494,000 $ 2,218,000 Net loss available to common stockholders $ (740,000 ) $ (3,539,000 ) Net loss available to common stockholders per share – basic $ (0.20 ) $ (3.40 ) Net loss available to common stockholders per share – diluted $ (0.20 ) $ (3.40 )
Revenue And Expenses Of Acquisitions Included In Consolidated Statement Of Operations	Revenue $ 1,596,000 Expenses (1,578,000) Net income $ 18,000	Revenue $ 2,328,000 Expenses (3,483,000) Net loss $ (1,155,000)	Revenue $ 658,000 Expenses (546,000 ) Net Income $ 112,000

Investment in Equity Method I27

Investment in Equity Method Investee (Tables)	12 Months Ended
	Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Schedule Of Equity Method Investments	Ownership Property Name Purchase Date Purchase Price MVP REIT MVP REIT II Cleveland West 9 th 05/11/2016 $ 2,788,000 49% 51% 33740 Crown Colony (1) 05/17/2016 $ 1,489,000 49% 51% White Front Garage 09/30/2016 $ 2,307,000 20% 80% Total $ 6,584,000

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of Fair Value Assets and Liabilities Measured on a Recurring Basis	Quoted Prices in Active Markets For Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance at 12/31/16 Carrying Value on Balance Sheet at 12/31/16 Assets Investment in equity method investee $ -- $ -- $ 4,123,000 $ 4,123,000 $ 4,123,000

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
Future Principal Payments On The Notes Payable	2017 $ 1,286,000 2018 1,194,000 2019 4,949,000 2020 1,185,000 2021 1,239,000 Thereafter 40,670,000 Total $ 50,523,000	2016 $ 735,000 2017 643,000 2018 676,000 2019 4,420,000 2020 627,000 Thereafter 21,610,000 Total $ 28,711,000	2015 $ 429,000 2016 257,000 2017 268,000 2018 281,000 Thereafter 12,172,000 Total $ 13,407,000
Schedule Of Debt	Property Current Loan Balance Interest Rate Loan Maturity D&O Financing $145,000 3.81% 8/3/2017 Ft. Lauderdale 1,451,000 4.94% 2/1/2019 Memphis Court 136,000 4.94% 2/1/2019 Memphis Poplar 1,222,000 4.94% 2/1/2019 St. Louis 1,217,000 4.94% 2/1/2019 Mabley Place 8,690,000 4.25% 12/26/2024 Ft. Worth 13,126,000 4.50% 11/17/2026 Houston Saks Garage 3,534,000 4.25% 8/1/2025 St. Louis Lucas 3,422,000 4.59% 2/1/2026 Indy Garage 8,041,000 4.59% 2/1/2026 Minneapolis City Parking 5,173,000 4.50% 4/30/2026 Bridgeport Fairfield 4,366,000 4.00% 8/1/2026 Less unamortized loan issuance costs (1,106,000) Total $49,417,000	Property Current Loan Balance Interest Rate Loan Maturity Ft. Lauderdale $1,487,000 4.94% 2/1/2019 Memphis Court $139,000 4.94% 2/1/2019 Memphis Poplar $1,252,000 4.94% 2/1/2019 Kansas City -- N/A N/A St. Louis $1,247,000 4.94% 2/1/2019 Mabley Place $8,843,000 4.25% 12/26/2024 Denver Sherman -- N/A N/A Ft. Worth $11,965,000 5.59% 8/1/2021 Milwaukee Old World -- N/A N/A St. Louis Convention -- N/A N/A Houston Saks Garage $3,616,000 4.25% N/A St. Louis Lucas -- N/A N/A Milwaukee Wells -- N/A N/A Wildwood NJ Lot -- N/A N/A Indy Garage -- N/A N/A KC Cherry Lot -- N/A N/A Indy Lot -- N/A N/A Wildwood NJ Lot II -- N/A N/A Total $28,549,000

Assets Held For Sale (Tables)

Assets Held For Sale (Tables)	4 Months Ended	8 Months Ended	12 Months Ended
	Apr. 30, 2015	Aug. 29, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Summary Of Results Of Operations Related To Assets Held For Sale	January 1, 2014 through April 30, 2014 Revenue $ 792,000 Expenses (655,000 ) Income from asset held for sale, net of income taxes $ 137,000	January 1, 2014 through Closing Date (July 31, 2014 and August 29, 2014) Revenue $ 1,794,000 Expenses (1,296,000 ) Income from asset held for sale, net of income taxes $ 498,000	For The Year Ended December 31, 2016 Revenue $ 10,000 Expenses (254,000 ) Loss from asset held for sale, net of income taxes $ (244,000)	For The Year Ended December 31, 2015 Revenue $ 622,000 Expenses (408,000 ) Income from asset held for sale, net of income taxes $ 214,000 Gain on sale of investment in real estate held for sale 1,260,000 Total income from discontinued operations $ 1,474,000	For The Year Ended December 31, 2014 Revenue $ 1,067,000 Expenses (826,000 ) Income from asset held for sale, net of income taxes $ 241,000
Summary Of Net Assets Held For Sale					December 31, 2014 Assets: Current assets $ 20,000 Property and equipment, net 8,226,000 Other assets 67,000 Total assets $ 8,313,000 Liabilities: Accounts payable and accrued liabilities $ 123,000 Notes payable 4,316,000 Total liabilities 4,439,000 Net assets held for sale $ 3,874,000

Income Tax (Tables)

Income Tax (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Tax Treatment of Distributions	2016 2015 2014 Ordinary $ -- $ -- $ -- Capital Gain - - -- Return of Capital 6,637,000 4,315,000 2,016,000 $ 6,637,000 $ 4,315,000 $ 2,016,000

Schedule III - Real Estate an32

Schedule III - Real Estate and Accumulated Depreciation (Tables)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule of Real Estate and Accumulated Depreciation By Property	Initial Cost Gross Carrying Amount at December 31, 2016 Description ST Encumbrance Land Buildings and Improvements Total Cost Capitalized Subsequent to Acquisition Land Building and Improvements Total Accumulated Depreciation (1) Date Acquired Rentable Square Feet Ft. Lauderdale FL -- $2,652,000 $728,000 $3,380,000 -- $2,652,000 $756,000 $3,408,000 $54,000 2014 n/a Memphis Court TN -- $194,000 -- $194,000 -- $194,000 -- $194,000 $1,000 2014 n/a Memphis Poplar TN -- $2,693,000 -- $2,693,000 -- $2,693,000 -- $2,693,000 $1,000 2014 n/a Kansas City KS -- $1,550,000 -- $1,550,000 -- $1,550,000 -- $1,550,000 -- 2014 n/a St. Louis MO -- $4,125,000 -- $4,125,000 -- $4,137,000 -- $4,137,000 $1,000 2014 n/a Mabley Place OH -- $4,050,000 $10,530,000 $14,580,000 -- $4,050,000 $10,797,000 $14,847,000 $571,000 2014 n/a Denver Sherman CO -- $585,000 -- $585,000 -- $585,000 -- $585,000 -- 2015 n/a Ft. Worth Taylor TX -- $5,834,000 $17,502,000 $23,336,000 -- $5,834,000 $17,502,000 $23,336,000 $803,000 2015 n/a Milwaukee Old World WI -- $1,000,000 -- $1,000,000 -- $1,000,000 -- $1,000,000 -- 2015 n/a St Louis Convention MO -- $2,575,000 -- $2,575,000 -- $2,575,000 -- $2,575,000 -- 2015 n/a Houston Saks TX -- $3,565,000 $4,816,000 $8,381,000 -- $3,565,000 $4,816,000 $8,381,000 $196,000 2015 n/a St. Louis Lucas MO -- $3,463,000 -- $3,463,000 -- $3,463,000 -- $3,463,000 -- 2015 n/a Milwaukee Wells WI -- $3,900,000 -- $3,900,000 -- $3,900,000 -- $3,900,000 -- 2015 n/a Wildwood NJ NJ -- $1,585,000 -- $1,585,000 -- $1,609,000 -- $1,585,000 $1,000 2015 n/a Indy City Park IN -- $1,226,000 $9,274,000 $10,500,000 -- $1,226,000 $9,274,000 $10,500,000 $297,000 2015 n/a Cherry Street MO -- $515,000 -- $515,000 -- $515,000 -- $515,000 -- 2015 n/a Indy WA Street IN -- $4,995,000 -- $4,995,000 -- $4,995,000 -- $4,995,000 -- 2015 n/a Meridian Lot IN -- $1,498,000 $1,498,000 -- $1,498,000 $1,498,000 $3,000 2016 n/a Milwaukee Clybourne WI -- $205,000 $205,000 -- $205,000 $205,000 -- 2016 n/a Milwaukee Arena WI -- $3,900,000 $3,900,000 -- $3,900,000 $3,900,000 -- 2016 n/a Clarksburg WV -- $628,000 $628,000 -- $628,000 $628,000 -- 2016 n/a Denver 1935 Sherman CO -- $2,438,000 $2,438,000 -- $2,438,000 $2,438,000 -- 2016 n/a Bridgeport Fairfield CT -- $972,000 $6,828,000 $7,800,000 -- $972,000 $6,828,000 $7,800,000 $131,000 2016 n/a Minneapolis City Parking MN -- $9,501,000 $9,501,000 -- $9,500,000 $9,500,000 $1,000 2016 n/a Houston Preston TX -- $2,800,000 $2,800,000 -- $2,800,000 $2,800,000 -- 2016 n/a -- $66,449,000 $49,678,000 $116,127,000 $- $66,484,000 $49,973,000 $116,457,000 $2,060,000 (1) The initial costs of buildings are depreciated over 39 years using a straight-line method of accounting; improvements capitalized subsequent to acquisition are depreciated over the shorter of the lease term or useful life, generally ranging from one to 20 years.
Historical Cost Of Total Real Estate Held For Investment	2016 2015 2014 Total real estate held for investment, inception (prior) $ 87,517,000 $ 26,523,000 $ -- Additions during period: -- -- Acquisitions 28,940,000 60,994,000 26,523,000 Total real estate held for investment, end of year $ 116,457,000 $ 87,517,000 $ 26,523,000
Schedule of Accumulated Depreciation		2016 2015 2014 Accumulated depreciation, inception (prior) $ 812,000 $ 29,000 $ -- Additions during period: -- -- Depreciation of real estate 1,248,000 783,000 29,000 Accumulated depreciation, end of year $ 2,060,000 $ 812,000 $ 29,000

Investments in Real Estate (Det

Investments in Real Estate (Detail) - Schedule of Real Estate Properties	12 Months Ended
	Dec. 31, 2016USD ($)
Ft. Lauderdale [Member]
Location	Ft. Lauderdale, FL
Date Acquired	7/31/2013
Investment Amount	$ 3,409,000
Percentage of Portfolio (%)	2.90%
Zoning	RAC-CC
Height Restriction	150 Feet
Parking Tenant	SP+
Lease Commencement Date	2/1/2014
Lease Term	5 yr. w/2 5 yr. ext.
Memphis Court [Member]
Location	Memphis, TN
Date Acquired	8/28/2013
Investment Amount	$ 194,000
Percentage of Portfolio (%)	0.20%
Zoning	CBD
Height Restriction	Unlimited
Parking Tenant	SP+
Lease Commencement Date	3/14/2012
Lease Term	2 Years remaining
Memphis Poplar [Member]
Location	Memphis, TN
Date Acquired	8/28/2013
Investment Amount	$ 2,693,000
Percentage of Portfolio (%)	2.30%
Zoning	CBD
Height Restriction	Unlimited
Parking Tenant	Best Park
Lease Commencement Date	3/1/2014
Lease Term	5 yr. w/2 5 yr. ext.
Kansas City [Member]
Location	Kansas City, MO
Date Acquired	8/28/2013
Investment Amount	$ 1,550,000
Percentage of Portfolio (%)	1.30%
Zoning	B4-5
Height Restriction	Unlimited
Parking Tenant	SP+
Lease Commencement Date	3/14/2012
Lease Term	15 Years
St. Louis [Member]
Location	St Louis, MO
Date Acquired	9/4/2013
Investment Amount	$ 4,137,000
Percentage of Portfolio (%)	3.50%
Zoning	I (CBD)
Height Restriction	200 Feet
Parking Tenant	SP+
Lease Commencement Date	12/1/2013
Lease Term	5 yr. w/2 5 yr. ext.
Mabley Place [Member]
Location	Cincinnati, OH
Date Acquired	12/9/2014
Investment Amount	$ 14,847,000
Percentage of Portfolio (%)	12.70%
Zoning	DD-A
Height Restriction	510 Feet
Parking Tenant	SP+
Lease Commencement Date	12/9/2014
Lease Term	10 Years
Denver Sherman [Member]
Location	Denver, CO
Date Acquired	1/26/2015
Investment Amount	$ 585,000
Percentage of Portfolio (%)	0.50%
Zoning	CMX16
Height Restriction	200 Feet
Parking Tenant	Denver SD
Lease Commencement Date	7/1/2014
Lease Term	10 Years w/1 5 yr. ext.
Ft. Worth [Member]
Location	Fort Worth, TX
Date Acquired	3/16/2015
Investment Amount	$ 23,336,000
Percentage of Portfolio (%)	20.00%
Zoning	CBD-H
Height Restriction	Unlimited
Parking Tenant	SP+
Lease Commencement Date	3/16/2015
Lease Term	10 Years
Milwaukee Old World [Member]
Location	Milwaukee, WI
Date Acquired	3/31/2015
Investment Amount	$ 1,000,000
Percentage of Portfolio (%)	0.90%
Zoning	C9-E
Height Restriction	40 Feet
Parking Tenant	SP+
Lease Commencement Date	3/31/2015
Lease Term	5 yr. w/1 5 yr. ext.
St. Louis Convention [Member]
Location	St. Louis, MO
Date Acquired	5/31/2015
Investment Amount	$ 2,575,000
Percentage of Portfolio (%)	2.20%
Zoning	I (CBD)
Height Restriction	200 Feet
Parking Tenant	SP+
Lease Commencement Date	5/13/2015
Lease Term	5 yr. w/1 5 yr. ext.
Houston Saks Garage [Member]
Location	Houston, TX
Date Acquired	5/28/2015
Investment Amount	$ 8,380,000
Percentage of Portfolio (%)	7.20%
Zoning	N/A
Height Restriction	Unlimited
Parking Tenant	iPark
Lease Commencement Date	5/28/2015
Lease Term	10 yr. w/1 5 yr. ext.
St. Louis Lucas [Member]
Location	St. Louis, MO
Date Acquired	6/29/2015
Investment Amount	$ 3,463,000
Percentage of Portfolio (%)	3.00%
Zoning	I (CBD)
Height Restriction	200 Feet
Parking Tenant	SP+
Lease Commencement Date	6/29/2015
Lease Term	5 yr. w/1 5 yr. ext.
Milwaukee Wells [Member]
Location	Milwaukee, WI
Date Acquired	6/30/2015
Investment Amount	$ 3,900,000
Percentage of Portfolio (%)	3.30%
Zoning	C9-E
Height Restriction	40 Feet
Parking Tenant	SP+
Lease Commencement Date	6/30/2015
Lease Term	10 Years
Wildwood NJ Lot [Member]
Location	Wildwood, NJ
Date Acquired	7/10/2015
Investment Amount	$ 994,000
Percentage of Portfolio (%)	0.90%
Zoning	T/E
Height Restriction	35 feet
Parking Tenant	SP+
Lease Commencement Date	1/1/2016
Lease Term	5 yr. w/1 5 yr. ext.
Indy City Parking Garage [Member]
Location	Indianapolis, IN
Date Acquired	10/5/2015
Investment Amount	$ 10,500,000
Percentage of Portfolio (%)	9.00%
Zoning	B4C-1
Height Restriction	Unlimited
Parking Tenant	SP+
Lease Commencement Date	1/15/2016
Lease Term	5 yr. w/1 5 yr. ext.
KC Cherry Lot [Member]
Location	Kansas City, MO
Date Acquired	10/9/2015
Investment Amount	$ 515,000
Percentage of Portfolio (%)	0.40%
Zoning	CDB-1 RC
Height Restriction	5 Stories
Parking Tenant	ABM
Lease Commencement Date	10/5/2015
Lease Term	5 yr. w/1 5 yr. ext.
Indy WA Street [Member]
Location	Indianapolis, IN
Date Acquired	10/29/2015
Investment Amount	$ 4,995,000
Percentage of Portfolio (%)	4.30%
Zoning	UR
Height Restriction	Per Plan
Parking Tenant	SP+
Lease Commencement Date	10/9/2015
Lease Term	5 yr. w/1 5 yr. ext.
Wildwood NJ Lot II [Member]
Location	Wildwood, NJ
Date Acquired	12/16/2015
Investment Amount	$ 615,000
Percentage of Portfolio (%)	0.50%
Zoning	CBD2
Height Restriction	Unlimited
Parking Tenant	Denison
Lease Commencement Date	10/30/2015
Lease Term	10 Years
Minneapolis City Parking [Member]
Location	Minneapolis, MN
Date Acquired	1/6/2016
Investment Amount	$ 9,500,000
Percentage of Portfolio (%)	8.20%
Zoning	T/E
Height Restriction	35 feet
Parking Tenant	SP+
Lease Commencement Date	1/1/2016
Lease Term	5 yr. w/1 5 yr. ext.
Indianapolis Meridian [Member]
Location	Indianapolis, IN
Date Acquired	1/15/2016
Investment Amount	$ 1,498,000
Percentage of Portfolio (%)	1.30%
Zoning	CBD-2/RC
Height Restriction	Unlimited
Parking Tenant	Denison Parking
Lease Commencement Date	1/20/2016
Lease Term	10 Years
Milwaukee Clybourn [Member]
Location	Milwaukee, WI
Date Acquired	1/20/2016
Investment Amount	$ 205,000
Percentage of Portfolio (%)	0.20%
Zoning	C9F(A)
Height Restriction	30 Feet
Parking Tenant	Secure Parking USA
Lease Commencement Date	2/1/2016
Lease Term	5 Years
Milwaukee Arena [Member]
Location	Milwaukee, WI
Date Acquired	2/1/2016
Investment Amount	$ 3,900,000
Percentage of Portfolio (%)	3.30%
Zoning	RED
Height Restriction	Unlimited
Parking Tenant	SP+
Lease Commencement Date	2/9/2016
Lease Term	5 yr. w/1 5 yr. ext.
Clarksburg Lot [Member]
Location	Clarksburg, WV
Date Acquired	2/9/2016
Investment Amount	$ 628,000
Percentage of Portfolio (%)	0.50%
Zoning	BPO
Height Restriction	60 Feet
Parking Tenant	ABM
Lease Commencement Date	2/12/2016
Lease Term	5 Years
Denver 1935 Sherman [Member]
Location	Denver, CO
Date Acquired	2/12/2016
Investment Amount	$ 2,438,000
Percentage of Portfolio (%)	2.10%
Zoning	CMX16
Height Restriction	200 Feet
Parking Tenant	SP+
Lease Commencement Date	3/30/2016
Lease Term	10 Years
Bridgeport Fairfield [Member]
Location	Bridgeport, CT
Date Acquired	3/30/2016
Investment Amount	$ 7,800,000
Percentage of Portfolio (%)	6.70%
Zoning	DVD-CORE
Height Restriction	65 Feet
Parking Tenant	SP+
Lease Commencement Date	1/15/2016
Lease Term	10 Years
Houston Preston [Member]
Location	Houston, TX
Date Acquired	11/22/2016
Investment Amount	$ 2,800,000
Percentage of Portfolio (%)	2.40%
Zoning	None
Height Restriction	Unlimited
Parking Tenant	iPark Services
Lease Commencement Date	12/1/2016
Lease Term	10 Years
Fixed Assets [Member]
Investment Amount	$ 88,000
Percentage of Portfolio (%)	0.10%
Total [Member]
Investment Amount	$ 116,545,000

Acquisitions (Detail) - Schedul

Acquisitions (Detail) - Schedule Of Business Acquisitions	12 Months Ended
	Dec. 31, 2016USD ($)aft²
MVP PF Ft Lauderdale 2013, LLC [Member]
Location	Ft. Lauderdale, FL
Purchase Date	Jul. 31, 2013
Property Type	Lot
# Spaces	66
Property Size (Acres) | a	0.61
Retail Sq Ft | ft²	4,017
Aggregate Initial Purchase Price | $	$ 3,400,000
% Owned	10000.00%
MVP PF Kansas City 2013, LLC [Member]
Location	Kansas City, MO
Purchase Date	Aug. 28, 2013
Property Type	Lot
# Spaces	164
Property Size (Acres) | a	1.18
Aggregate Initial Purchase Price | $	$ 1,550,000
% Owned	10000.00%
MVP PF Memphis Poplar 2013, LLC [Member]
Location	Memphis, TN
Purchase Date	Aug. 28, 2013
Property Type	Lot
# Spaces	125
Property Size (Acres) | a	0.86
Aggregate Initial Purchase Price | $	$ 2,685,000
% Owned	10000.00%
MVP PF Memphis Court 2013, LLC [Member]
Location	Memphis, TN
Purchase Date	Aug. 28, 2013
Property Type	Lot
# Spaces	37
Property Size (Acres) | a	0.41
Aggregate Initial Purchase Price | $	$ 190,000
% Owned	10000.00%
MVP PF St. Louis 2013, LLC [Member]
Location	St Louis, MO
Purchase Date	Sep. 4, 2013
Property Type	Lot
# Spaces	179
Property Size (Acres) | a	1.22
Aggregate Initial Purchase Price | $	$ 4,125,000
% Owned	10000.00%
MVP Denver Sherman, LLC [Member]
Location	Denver, CO
Purchase Date	Jan. 26, 2015
Property Type	Lot
# Spaces	28
Property Size (Acres) | a	0.14
Aggregate Initial Purchase Price | $	$ 585,000
% Owned	10000.00%
MVP Milwaukee Old World, LLC [Member]
Location	Milwaukee, WI
Purchase Date	Mar. 31, 2015
Property Type	Lot
# Spaces	54
Property Size (Acres) | a	0.26
Aggregate Initial Purchase Price | $	$ 1,000,000
% Owned	10000.00%
MVP St. Louis Convention Plaza, LLC [Member]
Location	St. Louis, MO
Purchase Date	May 13, 2015
Property Type	Lot
# Spaces	221
Property Size (Acres) | a	1.26
Aggregate Initial Purchase Price | $	$ 2,575,000
% Owned	10000.00%
MVP St. Louis Lucas, LLC [Member]
Location	St. Louis, MO
Purchase Date	Jun. 29, 2015
Property Type	Lot
# Spaces	217
Property Size (Acres) | a	1.16
Aggregate Initial Purchase Price | $	$ 3,463,000
% Owned	10000.00%
MVP Milwaukee Wells, LLC [Member]
Location	Milwaukee, WI
Purchase Date	Jun. 30, 2015
Property Type	Lot
# Spaces	100
Property Size (Acres) | a	0.95
Aggregate Initial Purchase Price | $	$ 3,900,000
% Owned	10000.00%
MVP Wildwood NJ Lot I, LLC [Member]
Location	Wildwood, NJ
Purchase Date	Jul. 10, 2015
Property Type	Lot
# Spaces	29
Property Size (Acres) | a	0.26
Aggregate Initial Purchase Price | $	$ 970,000
% Owned	10000.00%
MVP KC Cherry Lot, LLC [Member]
Location	Kansas City, MO
Purchase Date	Oct. 9, 2015
Property Type	Lot
# Spaces	84
Property Size (Acres) | a	0.6
Aggregate Initial Purchase Price | $	$ 515,000
% Owned	10000.00%
MVP Indianapolis WA Street Lot, LLC [Member]
Location	Indianapolis, IN
Purchase Date	Oct. 29, 2015
Property Type	Lot
# Spaces	150
Property Size (Acres) | a	1.07
Aggregate Initial Purchase Price | $	$ 4,995,000
% Owned	10000.00%
MVP Wildwood NJ Lot II, LLC [Member]
Location	Wildwood, NJ
Purchase Date	Dec. 16, 2015
Property Type	Lot
# Spaces	45
Property Size (Acres) | a	0.31
Aggregate Initial Purchase Price | $	$ 615,000
% Owned	10000.00%
Minneapolis City Parking, LLC [Member]
Location	Minneapolis, MN
Purchase Date	Jan. 6, 2016
Property Type	Lot
# Spaces	270
Property Size (Acres) | a	4.36
Aggregate Initial Purchase Price | $	$ 9,395,000
% Owned	8700.00%
MVP Indianapolis Meridian Lot, LLC [Member]
Location	Indianapolis, IN
Purchase Date	Jan. 15, 2016
Property Type	Lot
# Spaces	39
Property Size (Acres) | a	0.24
Aggregate Initial Purchase Price | $	$ 1,550,000
% Owned	10000.00%
MVP Milwaukee Clybourn, LLC [Member]
Location	Milwaukee, WI
Purchase Date	Jan. 20, 2016
Property Type	Lot
# Spaces	15
Property Size (Acres) | a	0.06
Aggregate Initial Purchase Price | $	$ 205,000
% Owned	10000.00%
MVP Milwaukee Arena Lot, LLC [Member]
Location	Milwaukee, WI
Purchase Date	Feb. 1, 2016
Property Type	Lot
# Spaces	75
Property Size (Acres) | a	1.11
Aggregate Initial Purchase Price | $	$ 3,900,000
% Owned	10000.00%
MVP Clarksburg Lot, LLC [Member]
Location	Clarksburg, WV
Purchase Date	Feb. 9, 2016
Property Type	Lot
# Spaces	94
Property Size (Acres) | a	0.81
Aggregate Initial Purchase Price | $	$ 620,000
% Owned	10000.00%
MVP Denver Sherman 1935, LLC [Member]
Location	Denver, CO
Purchase Date	Feb. 12, 2016
Property Type	Lot
# Spaces	72
Property Size (Acres) | a	0.43
Aggregate Initial Purchase Price | $	$ 2,438,000
% Owned	7600.00%
MVP Houston Preston Lot, LLC [Member]
Location	Houston, TX
Purchase Date	Nov. 22, 2016
Property Type	Lot
# Spaces	46
Property Size (Acres) | a	0.23
Aggregate Initial Purchase Price | $	$ 2,800,000
% Owned	8000.00%
Mabley Place Garage, LLC [Member]
Location	Cincinnati, OH
Purchase Date	Dec. 9, 2014
Property Type	Garage
# Spaces	775
Property Size (Acres) | a	0.9
Retail Sq Ft | ft²	8,400
Aggregate Initial Purchase Price | $	$ 14,580,000
% Owned	8300.00%
MVP Fort Worth Taylor, LLC [Member]
Location	Fort Worth, TX
Purchase Date	Mar. 16, 2015
Property Type	Garage
# Spaces	1,013
Property Size (Acres) | a	1.18
Retail Sq Ft | ft²	11,828
Aggregate Initial Purchase Price | $	$ 23,336,000
% Owned	10000.00%
MVP Houston Saks Garage, LLC [Member]
Location	Houston, TX
Purchase Date	May 28, 2015
Property Type	Garage
# Spaces	265
Property Size (Acres) | a	0.36
Retail Sq Ft | ft²	5,000
Aggregate Initial Purchase Price | $	$ 8,375,000
% Owned	10000.00%
MVP Indianapolis City Park, LLC [Member]
Location	Indianapolis, IN
Purchase Date	Oct. 5, 2015
Property Type	Garage
# Spaces	370
Property Size (Acres) | a	0.47
Aggregate Initial Purchase Price | $	$ 10,500,000
% Owned	10000.00%
MVP Bridgeport Fairfield Garage, LLC [Member]
Location	Bridgeport, CT
Purchase Date	Mar. 30, 2016
Property Type	Garage
# Spaces	878
Property Size (Acres) | a	1.01
Retail Sq Ft | ft²	4,349
Aggregate Initial Purchase Price | $	$ 7,800,000
% Owned	9000.00%
MVP Minneapolis Venture, LLC [Member]
Location	Minneapolis, MN
Purchase Date	Jan. 6, 2016
Property Type	For Sale Lot
# Spaces	185
Property Size (Acres) | a	4.36
Aggregate Initial Purchase Price | $	$ 6,100,000
% Owned	8700.00%

Acquisitions (Detail) - Assets

Acquisitions (Detail) - Assets Acquired And Liabilities Assumed 2016 - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Assets
Land and improvements		$ 11,200,000
Building and improvements		736,000
Total assets acquired		14,707,000
Liabilities
Net assets and liabilities acquired		10,419,000
Minneapolis Venture [Member]
Assets
Land and improvements	$ 6,100,000
Building and improvements
Total assets acquired	6,100,000
Liabilities
Notes Payable Assumed
Net assets and liabilities acquired	6,100,000
Indianapolis Meridian [Member]
Assets
Land and improvements	1,550,000
Building and improvements
Total assets acquired	1,550,000
Liabilities
Notes Payable Assumed
Net assets and liabilities acquired	1,550,000
Milwaukee Clybourn [Member]
Assets
Land and improvements	205,000
Building and improvements
Total assets acquired	205,000
Liabilities
Notes Payable Assumed
Net assets and liabilities acquired	205,000
Milwaukee Arena [Member]
Assets
Land and improvements	3,900,000
Building and improvements
Total assets acquired	3,900,000
Liabilities
Notes Payable Assumed
Net assets and liabilities acquired	3,900,000
Clarksburg Lot [Member]
Assets
Land and improvements	620,000
Building and improvements
Total assets acquired	620,000
Liabilities
Notes Payable Assumed
Net assets and liabilities acquired	620,000
Denver 1935 Sherman [Member]
Assets
Land and improvements	2,438,000
Building and improvements
Total assets acquired	2,438,000
Liabilities
Notes Payable Assumed
Net assets and liabilities acquired	2,438,000
Bridgeport Fairfield [Member]
Assets
Land and improvements	972,000
Building and improvements	6,828,000
Total assets acquired	7,800,000
Liabilities
Notes Payable Assumed
Net assets and liabilities acquired	7,800,000
Minneapolis City Parking [Member]
Assets
Land and improvements	9,395,000
Building and improvements
Total assets acquired	9,395,000
Liabilities
Notes Payable Assumed
Net assets and liabilities acquired	9,395,000
Houston Preston Lot [Member]
Assets
Land and improvements	2,800,000
Building and improvements
Total assets acquired	2,800,000
Liabilities
Notes Payable Assumed
Net assets and liabilities acquired	2,800,000
Total [Member]
Assets
Land and improvements	27,980,000	29,243,000
Building and improvements	6,828,000	31,586,000
Total assets acquired	34,808,000	60,829,000
Liabilities
Notes Payable Assumed		12,180,000
Net assets and liabilities acquired	$ 34,808,000	$ 48,649,000

Acquisitions (Detail) - Pro For

Acquisitions (Detail) - Pro Forma Consolidated Results Of Operations 2016 - 2016 Reporting [Member] - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues from continuing operations	$ 8,943,000	$ 6,568,000	$ 2,576,000
Net income (loss) available to common stockholders	$ (2,781,000)	$ (99,000)	$ 1,074,000
Net income (loss) available to common stockholders per share - basic	$ (0.25)	$ (0.01)	$ 0.3
Net income (loss) available to common stockholders per share - diluted	$ (0.25)	$ (0.01)	$ 0.3

Acquisitions (Detail) - Revenue

Acquisitions (Detail) - Revenue And Expenses Of Acquisitions Included In Consolidated Statement Of Operations 2016 - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Business Combinations [Abstract]
Revenue	$ 1,596,000	$ 2,328,000	$ 658,000
Expenses	(1,578,000)	(3,483,000)	(546,000)
Net loss	$ 18,000	$ (1,155,000)	$ 112,000

Acquisitions (Detail) - Asset38

Acquisitions (Detail) - Assets Acquired And Liabilities Assumed 2015 - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Assets
Land and improvements		$ 11,200,000
Building and improvements		736,000
Total assets acquired		14,707,000
Liabilities
Net assets and liabilities acquired		10,419,000
Denver Sherman [Member]
Assets
Land and improvements		585,000
Building and improvements
Total assets acquired		585,000
Liabilities
Notes Payable Assumed
Net assets and liabilities acquired		585,000
Ft. Worth Taylor [Member]
Assets
Land and improvements		5,834,000
Building and improvements		17,502,000
Total assets acquired		23,336,000
Liabilities
Notes Payable Assumed		12,180,000
Net assets and liabilities acquired		11,156,000
Milwaukee Old World [Member]
Assets
Land and improvements		1,000,000
Building and improvements
Total assets acquired		1,000,000
Liabilities
Notes Payable Assumed
Net assets and liabilities acquired		1,000,000
St. Louis Convention Plaza [Member]
Assets
Land and improvements		2,575,000
Building and improvements
Total assets acquired		2,575,000
Liabilities
Notes Payable Assumed
Net assets and liabilities acquired		2,575,000
Houston Saks Garage [Member]
Assets
Land and improvements		3,565,000
Building and improvements		4,810,000
Total assets acquired		8,375,000
Liabilities
Notes Payable Assumed
Net assets and liabilities acquired		8,375,000
St. Louis Lucas [Member]
Assets
Land and improvements		3,463,000
Building and improvements
Total assets acquired		3,463,000
Liabilities
Notes Payable Assumed
Net assets and liabilities acquired		3,463,000
Milwaukee Wells [Member]
Assets
Land and improvements		3,900,000
Building and improvements
Total assets acquired		3,900,000
Liabilities
Notes Payable Assumed
Net assets and liabilities acquired		3,900,000
Wildwood NJ Lot 1 [Member]
Assets
Land and improvements		970,000
Building and improvements
Total assets acquired		970,000
Liabilities
Notes Payable Assumed
Net assets and liabilities acquired		970,000
Indy City Park [Member]
Assets
Land and improvements		1,226,000
Building and improvements		9,274,000
Total assets acquired		10,500,000
Liabilities
Notes Payable Assumed
Net assets and liabilities acquired		10,500,000
KC Cherry Street [Member]
Assets
Land and improvements		515,000
Building and improvements
Total assets acquired		515,000
Liabilities
Notes Payable Assumed
Net assets and liabilities acquired		515,000
Indy WA Street [Member]
Assets
Land and improvements		4,995,000
Building and improvements
Total assets acquired		4,995,000
Liabilities
Notes Payable Assumed
Net assets and liabilities acquired		4,995,000
Wildwood NJ 2 [Member]
Assets
Land and improvements		615,000
Building and improvements
Total assets acquired		615,000
Liabilities
Notes Payable Assumed
Net assets and liabilities acquired		615,000
Total [Member]
Assets
Land and improvements	$ 27,980,000	29,243,000
Building and improvements	6,828,000	31,586,000
Total assets acquired	34,808,000	60,829,000
Liabilities
Notes Payable Assumed		12,180,000
Net assets and liabilities acquired	$ 34,808,000	$ 48,649,000

Acquisitions (Detail) - Pro F39

Acquisitions (Detail) - Pro Forma Consolidated Results Of Operations 2015 - 2015 Reporting [Member] - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Revenues from continuing operations	$ 6,534,000	$ 4,829,000
Net income (loss) available to common stockholders	$ (75,000)	$ 545,000
Net income (loss) available to common stockholders per share - basic	$ (0.01)	$ 0.15
Net income (loss) available to common stockholders per share - diluted	$ (0.01)	$ 0.15

Acquisitions (Detail) - Reven40

Acquisitions (Detail) - Revenue And Expenses Of Acquisitions Included In Consolidated Statement Of Operations 2015 - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Business Combinations [Abstract]
Revenue	$ 1,596,000	$ 2,328,000	$ 658,000
Expenses	(1,578,000)	(3,483,000)	(546,000)
Net loss	$ 18,000	$ (1,155,000)	$ 112,000

Acquisitions (Detail) - Acquisi

Acquisitions (Detail) - Acquisition Date Fair Value Of The Total Consideration Transferred 2014 - USD ($)	Dec. 31, 2015	Apr. 30, 2014
Assets
Cash	$ 1,392,000
Other assets	171,000
Land and improvements	11,200,000
Building and improvements	736,000
Total assets transferred	14,707,000
Liabilities
Notes payable	4,278,000
Total liabilities transferred	4,288,000
Acquisition-date fair value of the total consideration transferred	$ 10,419,000
Fair Value Transferred [Member]
Assets
Cash		$ 101,000
Other assets		22,000
Land and improvements		6,275,000
Building and improvements		18,521,000
Tenant improvements		165,000
Total assets transferred		25,084,000
Liabilities
Accounts payable and accrued liabilities		58,000
Notes payable		14,335,000
Total liabilities transferred		14,393,000
Acquisition-date fair value of the total consideration transferred		$ 10,691,000

Acquisitions (Detail) - Asset42

Acquisitions (Detail) - Assets Acquired And Liabilities Assumed 2014	Dec. 31, 2015USD ($)
Assets
Cash received	$ 1,392,000
Other assets	171,000
Land and improvements	11,200,000
Building and improvements	736,000
49% Non-controlling interest portion of Red Mountain	1,208,000
Total assets acquired	14,707,000
Liabilities
Accrued liabilities	10,000
Notes payable	4,278,000
Total liabilities assumed	4,288,000
Net assets acquired	$ 10,419,000

Acquisitions (Detail) - Pro F43

Acquisitions (Detail) - Pro Forma Consolidated Results Of Operations 2014 - 2014 Reporting [Member] - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Revenues from continuing operations	$ 2,494,000	$ 2,218,000
Net loss available to common stockholders	$ (740,000)	$ (3,539,000)
Net loss available to common stockholders per share - basic	$ (0.2)	$ (3.4)
Net loss available to common stockholders per share - diluted	$ (0.2)	$ (3.4)

Acquisitions (Detail) - Reven44

Acquisitions (Detail) - Revenue And Expenses Of Acquisitions Included In Consolidated Statement Of Operations 2014 - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Business Combinations [Abstract]
Revenue	$ 1,596,000	$ 2,328,000	$ 658,000
Expenses	(1,578,000)	(3,483,000)	(546,000)
Net loss	$ 18,000	$ (1,155,000)	$ 112,000

Investment in Equity Method I45

Investment in Equity Method Investee (Detail) - Schedule Of Equity Method Investments - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Purchase Price	$ 4,123,000
Cleveland West 9th [Member]
Purchase Date	May 11, 2016
Purchase Price	$ 2,788,000
Ownership	49.00%
Cleveland West 9th [Member] | MVP REIT II [Member]
Ownership	51.00%
33740 Crown Colony [Member]
Purchase Date	May 17, 2016
Purchase Price	$ 1,489,000
Ownership	49.00%
33740 Crown Colony [Member] | MVP REIT II [Member]
Ownership	51.00%
White Front Garage [Member]
Purchase Date	Sep. 30, 2016
Purchase Price	$ 2,307,000
Ownership	20.00%
White Front Garage [Member] | MVP REIT II [Member]
Ownership	80.00%
Total [Member]
Purchase Price	$ 6,584,000

Fair Value (Detail) - Schedule

Fair Value (Detail) - Schedule of Fair Value Assets and Liabilities Measured on a Recurring Basis	Dec. 31, 2016USD ($)
Quoted Prices in Active Markets For Identical Assets (Level 1) [Member]
Investment In Equity Method Investee
Significant Other Observable Inputs (Level 2) [Member]
Investment In Equity Method Investee
Significant Unobservable Inputs (Level 3) [Member]
Investment In Equity Method Investee	4,123,000
Balance at 12/31/16 [Member]
Investment In Equity Method Investee	4,123,000
Carrying Value on Balance Sheet at 12/31/16 [Member]
Investment In Equity Method Investee	$ 4,123,000

Notes Payable (Detail) - Future

Notes Payable (Detail) - Future Principal Payments On The Notes Payable 2016 - USD ($)	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
2017 [Member]
Principal Payments	$ 735,000	$ 735,000	$ 429,000
2018 [Member]
Principal Payments	643,000	643,000	257,000
2019 [Member]
Principal Payments	676,000	676,000	268,000
2020 [Member]
Principal Payments	4,420,000	4,420,000	281,000
2021 [Member]
Principal Payments	627,000	$ 627,000
Thereafter [Member]
Principal Payments	21,610,000		12,172,000
Total [Member]
Principal Payments	$ 28,711,000		$ 13,407,000

Notes Payable (Detail) - Schedu

Notes Payable (Detail) - Schedule of Debt 2016 - USD ($)	1 Months Ended									12 Months Ended
	Nov. 30, 2016	Jul. 31, 2016	Apr. 30, 2016	Aug. 31, 2015	Mar. 30, 2015	Dec. 31, 2014	Jan. 31, 2014	Sep. 30, 2013	Mar. 31, 2013	Dec. 31, 2016	Dec. 31, 2015
Loan Maturity	Dec. 31, 2026	Aug. 31, 2026	Apr. 30, 2026	Aug. 31, 2025	Aug. 31, 2021	Dec. 31, 2024	Feb. 28, 2019	Oct. 31, 2020	Apr. 30, 2023
D&O Financing [Member]
Current Loan Balance										$ 145,000
Interest Rate										3.81%
Loan Maturity										Aug. 3, 2017
Ft. Lauderdale [Member]
Current Loan Balance										$ 1,451,000	$ 1,487,000
Interest Rate										4.94%	4.94%
Loan Maturity										Feb. 1, 2019	Feb. 1, 2019
Memphis Court [Member]
Current Loan Balance										$ 136,000	$ 139,000
Interest Rate										4.94%	4.94%
Loan Maturity										Feb. 1, 2019	Feb. 1, 2019
Memphis Poplar [Member]
Current Loan Balance										$ 1,222,000	$ 1,252,000
Interest Rate										4.94%	4.94%
Loan Maturity										Feb. 1, 2019	Feb. 1, 2019
St. Louis [Member]
Current Loan Balance										$ 1,217,000	$ 1,247,000
Interest Rate										4.94%	4.94%
Loan Maturity										Feb. 1, 2019	Feb. 1, 2019
Mabley Place [Member]
Current Loan Balance										$ 8,690,000	$ 8,843,000
Interest Rate										4.25%	4.25%
Loan Maturity										Dec. 26, 2024	Dec. 26, 2024
Ft. Worth [Member]
Current Loan Balance										$ 13,126,000	$ 11,965,000
Interest Rate										4.50%	5.59%
Loan Maturity										Nov. 17, 2026	Aug. 1, 2021
Houston Saks Garage [Member]
Current Loan Balance										$ 3,534,000	$ 3,616,000
Interest Rate										4.25%	4.25%
Loan Maturity										Aug. 1, 2025
St. Louis Lucas [Member]
Current Loan Balance										$ 3,422,000
Interest Rate										4.59%
Loan Maturity										Feb. 1, 2026
Indy Garage [Member]
Current Loan Balance										$ 8,041,000
Interest Rate										4.59%
Loan Maturity										Feb. 1, 2026
Minneapolis City Parking [Member]
Current Loan Balance										$ 5,173,000
Interest Rate										4.50%
Loan Maturity										Apr. 30, 2026
Bridgeport Fairfield [Member]
Current Loan Balance										$ 4,366,000
Interest Rate										4.00%
Loan Maturity										Aug. 1, 2026
Less unamortized loan issuance costs [Member]
Current Loan Balance										$ (1,106,000)
Total [Member]
Current Loan Balance										$ 49,417,000	$ 28,549,000

Notes Payable (Detail) - Futu49

Notes Payable (Detail) - Future Principal Payments On The Notes Payable 2015 - USD ($)	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
2016 [Member]
Principal Payments	$ 735,000	$ 735,000	$ 429,000
2017 [Member]
Principal Payments	643,000	643,000	257,000
2018 [Member]
Principal Payments	676,000	676,000	268,000
2019 [Member]
Principal Payments	4,420,000	4,420,000	281,000
2020 [Member]
Principal Payments	627,000	$ 627,000
Thereafter [Member]
Principal Payments	21,610,000		12,172,000
Total [Member]
Principal Payments	$ 28,711,000		$ 13,407,000

Notes Payable (Detail) - Sche50

Notes Payable (Detail) - Schedule of Debt 2015 - USD ($)	1 Months Ended									12 Months Ended
	Nov. 30, 2016	Jul. 31, 2016	Apr. 30, 2016	Aug. 31, 2015	Mar. 30, 2015	Dec. 31, 2014	Jan. 31, 2014	Sep. 30, 2013	Mar. 31, 2013	Dec. 31, 2016	Dec. 31, 2015
Loan Maturity	Dec. 31, 2026	Aug. 31, 2026	Apr. 30, 2026	Aug. 31, 2025	Aug. 31, 2021	Dec. 31, 2024	Feb. 28, 2019	Oct. 31, 2020	Apr. 30, 2023
Ft. Lauderdale [Member]
Current Loan Balance										$ 1,451,000	$ 1,487,000
Interest Rate										4.94%	4.94%
Loan Maturity										Feb. 1, 2019	Feb. 1, 2019
Memphis Court [Member]
Current Loan Balance										$ 136,000	$ 139,000
Interest Rate										4.94%	4.94%
Loan Maturity										Feb. 1, 2019	Feb. 1, 2019
Memphis Poplar [Member]
Current Loan Balance										$ 1,222,000	$ 1,252,000
Interest Rate										4.94%	4.94%
Loan Maturity										Feb. 1, 2019	Feb. 1, 2019
Kansas City [Member]
Current Loan Balance
St. Louis [Member]
Current Loan Balance										$ 1,217,000	$ 1,247,000
Interest Rate										4.94%	4.94%
Loan Maturity										Feb. 1, 2019	Feb. 1, 2019
Mabley Place [Member]
Current Loan Balance										$ 8,690,000	$ 8,843,000
Interest Rate										4.25%	4.25%
Loan Maturity										Dec. 26, 2024	Dec. 26, 2024
Denver Sherman [Member]
Current Loan Balance
Ft. Worth [Member]
Current Loan Balance										$ 13,126,000	$ 11,965,000
Interest Rate										4.50%	5.59%
Loan Maturity										Nov. 17, 2026	Aug. 1, 2021
Milwaukee Old World [Member]
Current Loan Balance
St. Louis Convention Plaza [Member]
Current Loan Balance
Houston Saks Garage [Member]
Current Loan Balance										$ 3,534,000	$ 3,616,000
Interest Rate										4.25%	4.25%
Loan Maturity										Aug. 1, 2025
St. Louis Lucas [Member]
Current Loan Balance										$ 3,422,000
Interest Rate										4.59%
Loan Maturity										Feb. 1, 2026
Milwaukee Wells [Member]
Current Loan Balance
Wildwood NJ Lot#1 [Member]
Current Loan Balance
Indy Garage [Member]
Current Loan Balance										$ 8,041,000
Interest Rate										4.59%
Loan Maturity										Feb. 1, 2026
KC Cherry Lot [Member]
Current Loan Balance
Indy Lot [Member]
Current Loan Balance
Wildwood NJ Lot II [Member]
Current Loan Balance
Total [Member]
Current Loan Balance										$ 49,417,000	$ 28,549,000

Notes Payable (Detail) - Futu51

Notes Payable (Detail) - Future Principal Payments On The Notes Payable 2014 - USD ($)	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
2015 [Member]
Principal Payments	$ 735,000	$ 735,000	$ 429,000
2016 [Member]
Principal Payments	643,000	643,000	257,000
2017 [Member]
Principal Payments	676,000	676,000	268,000
2018 [Member]
Principal Payments	4,420,000	$ 4,420,000	281,000
Thereafter [Member]
Principal Payments	21,610,000		12,172,000
Total [Member]
Principal Payments	$ 28,711,000		$ 13,407,000

Assets Held For Sale (Detail) -

Assets Held For Sale (Detail) - Summary Of Results Of Operations Related To Assets Held For Sale - USD ($)	4 Months Ended	8 Months Ended	12 Months Ended
	Apr. 30, 2014	Aug. 29, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Revenue	$ 792,000	$ 1,794,000	$ 10,000	$ 622,000	$ 1,067,000
Expenses	(655,000)	(1,296,000)	(254,000)	(408,000)	(826,000)
Income\Loss from asset held for sale, net of income taxes	$ 137,000	$ 498,000	$ (244,000)	214,000	$ 241,000
Gain on sale of investment in real estate held for sale				1,260,000
Total income from discontinued operations				$ 1,474,000

Assets Held For Sale (Detail)53

Assets Held For Sale (Detail) - Summary Of Net Assets Held For Sale	Dec. 31, 2014USD ($)
Assets:
Current assets	$ 20,000
Property and equipment, net	8,226,000
Other assets	67,000
Total assets	8,313,000
Liabilities:
Accounts payable and accrued liabilities	123,000
Notes payable	4,316,000
Total liabilities	4,439,000
Net assets held for sale	$ 3,874,000

Income Tax (Detail) - Tax Treat

Income Tax (Detail) - Tax Treatment of Distributions - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Ordinary Income
Capital Gain
Return Of Capital	6,637,000	4,315,000	2,016,000
Total	$ 6,637,000	$ 4,315,000	$ 2,016,000

Schedule III (Detail) - Schedul

Schedule III (Detail) - Schedule of Real Estate and Accumulated Depreciation By Property - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Gross Carrying Amount
Total	$ 116,457,000	$ 87,517,000	$ 26,523,000
Accumulated Depreciation	$ 2,060,000	$ 812,000	$ 29,000
Ft Lauderdale [Member]
State	FL
Encumbrance
Initial Cost
Land	2,652,000
Buildings and Improvements	728,000
Total	3,380,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	2,652,000
Building and Improvements	756,000
Total	3,408,000
Accumulated Depreciation	$ 54,000
Date Acquired	2,014
Rentable Square Feet	n/a
Memphis Court [Member]
State	TN
Encumbrance
Initial Cost
Land	194,000
Buildings and Improvements
Total	194,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	194,000
Building and Improvements
Total	194,000
Accumulated Depreciation	$ 1,000
Date Acquired	2,014
Rentable Square Feet	n/a
Memphis Poplar [Member]
State	TN
Encumbrance
Initial Cost
Land	2,693,000
Buildings and Improvements
Total	2,693,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	2,693,000
Building and Improvements
Total	2,693,000
Accumulated Depreciation	$ 1,000
Date Acquired	2,014
Rentable Square Feet	n/a
Kansas City [Member]
State	KS
Encumbrance
Initial Cost
Land	1,550,000
Buildings and Improvements
Total	1,550,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	1,550,000
Building and Improvements
Total	1,550,000
Accumulated Depreciation
Date Acquired	2,014
Rentable Square Feet	n/a
St. Louis [Member]
State	MO
Encumbrance
Initial Cost
Land	4,125,000
Buildings and Improvements
Total	4,125,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	4,137,000
Building and Improvements
Total	4,137,000
Accumulated Depreciation	$ 1,000
Date Acquired	2,014
Rentable Square Feet	n/a
Mabley Place [Member]
State	OH
Encumbrance
Initial Cost
Land	4,050,000
Buildings and Improvements	10,530,000
Total	14,580,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	4,050,000
Building and Improvements	10,797,000
Total	14,847,000
Accumulated Depreciation	$ 571,000
Date Acquired	2,014
Rentable Square Feet	n/a
Denver Sherman [Member]
State	CO
Encumbrance
Initial Cost
Land	585,000
Buildings and Improvements
Total	585,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	585,000
Building and Improvements
Total	585,000
Accumulated Depreciation
Date Acquired	2,015
Rentable Square Feet	n/a
Ft. Worth Taylor [Member]
State	TX
Encumbrance
Initial Cost
Land	5,834,000
Buildings and Improvements	17,502,000
Total	23,336,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	5,834,000
Building and Improvements	17,502,000
Total	23,336,000
Accumulated Depreciation	$ 803,000
Date Acquired	2,015
Rentable Square Feet	n/a
Milwaukee Old World [Member]
State	WI
Encumbrance
Initial Cost
Land	1,000,000
Buildings and Improvements
Total	1,000,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	1,000,000
Building and Improvements
Total	1,000,000
Accumulated Depreciation
Date Acquired	2,015
Rentable Square Feet	n/a
St. Louis Convention [Member]
Encumbrance
Initial Cost
Land	2,575,000
Buildings and Improvements
Total	2,575,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	2,575,000
Building and Improvements
Total	2,575,000
Accumulated Depreciation
Houston Saks [Member]
State	TX
Encumbrance
Initial Cost
Land	3,565,000
Buildings and Improvements	4,816,000
Total	8,381,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	3,565,000
Building and Improvements	4,816,000
Total	8,381,000
Accumulated Depreciation	$ 196,000
Date Acquired	2,015
Rentable Square Feet	n/a
St. Louis Lucas [Member]
State	MO
Encumbrance
Initial Cost
Land	3,463,000
Buildings and Improvements
Total	3,463,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	3,463,000
Building and Improvements
Total	3,463,000
Accumulated Depreciation
Date Acquired	2,015
Rentable Square Feet	n/a
Milwaukee Wells [Member]
State	WI
Encumbrance
Initial Cost
Land	3,900,000
Buildings and Improvements
Total	3,900,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	3,900,000
Building and Improvements
Total	3,900,000
Accumulated Depreciation
Date Acquired	2,015
Rentable Square Feet	n/a
Wildwood NJ [Member]
State	NJ
Encumbrance
Initial Cost
Land	1,585,000
Buildings and Improvements
Total	1,585,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	1,609,000
Building and Improvements
Total	1,585,000
Accumulated Depreciation	$ 1,000
Date Acquired	2,015
Rentable Square Feet	n/a
Indy City Park [Member]
State	IN
Encumbrance
Initial Cost
Land	1,226,000
Buildings and Improvements	9,274,000
Total	10,500,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	1,226,000
Building and Improvements	9,274,000
Total	10,500,000
Accumulated Depreciation	$ 297,000
Date Acquired	2,015
Rentable Square Feet	n/a
Cherry Street [Member]
State	MO
Encumbrance
Initial Cost
Land	515,000
Buildings and Improvements
Total	515,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	515,000
Building and Improvements
Total	515,000
Accumulated Depreciation
Date Acquired	2,015
Rentable Square Feet	n/a
Indy WA Street [Member]
State	IN
Encumbrance
Initial Cost
Land	4,995,000
Buildings and Improvements
Total	4,995,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	4,995,000
Building and Improvements
Total	4,995,000
Accumulated Depreciation
Date Acquired	2,015
Rentable Square Feet	n/a
Meridian Lot [Member]
State	IN
Encumbrance
Initial Cost
Land	1,498,000
Buildings and Improvements
Total	1,498,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	1,498,000
Total	1,498,000
Accumulated Depreciation	$ 3,000
Date Acquired	2,016
Rentable Square Feet	n/a
Milwaukee Clybourne [Member]
State	WI
Encumbrance
Initial Cost
Land	205,000
Buildings and Improvements
Total	205,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	205,000
Total	205,000
Accumulated Depreciation
Date Acquired	2,016
Rentable Square Feet	n/a
Milwaukee Arena [Member]
State	WI
Encumbrance
Initial Cost
Land	3,900,000
Buildings and Improvements
Total	3,900,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	3,900,000
Total	3,900,000
Accumulated Depreciation
Date Acquired	2,016
Rentable Square Feet	n/a
Clarksburg [Member]
State	WV
Encumbrance
Initial Cost
Land	628,000
Buildings and Improvements
Total	628,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	628,000
Total	628,000
Accumulated Depreciation
Date Acquired	2,016
Rentable Square Feet	n/a
Denver 1935 Sherman [Member]
State	CO
Encumbrance
Initial Cost
Land	2,438,000
Buildings and Improvements
Total	2,438,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	2,438,000
Total	2,438,000
Accumulated Depreciation
Date Acquired	2,016
Rentable Square Feet	n/a
Bridgeport Fairfield [Member]
State	CT
Encumbrance
Initial Cost
Land	972,000
Buildings and Improvements	6,828,000
Total	7,800,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	972,000
Building and Improvements	6,828,000
Total	7,800,000
Accumulated Depreciation	$ 131,000
Date Acquired	2,016
Rentable Square Feet	n/a
Minneapolis City Parking [Member]
State	MN
Encumbrance
Initial Cost
Land	9,501,000
Buildings and Improvements
Total	9,501,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	9,500,000
Total	9,500,000
Accumulated Depreciation	$ 1,000
Date Acquired	2,016
Rentable Square Feet	n/a
Houston Preston [Member]
State	TX
Encumbrance
Initial Cost
Land	2,800,000
Buildings and Improvements
Total	2,800,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	2,800,000
Total	2,800,000
Accumulated Depreciation
Date Acquired	2,016
Rentable Square Feet	n/a
Total [Member]
Encumbrance
Initial Cost
Land	66,449,000
Buildings and Improvements	49,678,000
Total	116,127,000
Cost Capitalized Subsequent to Acquisition
Gross Carrying Amount
Land	66,484,000
Building and Improvements	49,973,000
Total	116,457,000
Accumulated Depreciation	$ 2,060,000
St. Louis Convention Plaza [Member]
State	MO
Gross Carrying Amount
Date Acquired	2,015
Rentable Square Feet	n/a

Schedule III (Detail) - Histori

Schedule III (Detail) - Historical Cost Of Total Real Estate Held For Investment - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Total real estate held for investment, inception (prior)	$ 87,517,000	$ 26,523,000
Additions during period:
Acquisitions	28,940,000	60,994,000	26,523,000
Total real estate held for investment, end of year	$ 116,457,000	$ 87,517,000	$ 26,523,000

Schedule III (Detail) - Sched57

Schedule III (Detail) - Schedule of Accumulated Depreciation - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Accumulated depreciation, inception (prior)	$ 812,000	$ 29,000
Additions during period:
Depreciation of real estate	1,248,000	783,000	29,000
Accumulated depreciation, end of year	$ 2,060,000	$ 812,000	$ 29,000

Organization, Proposed Busine58

Organization, Proposed Business Operations and Capitalization (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Date of Incorporation	Apr. 3, 2012
Incorporation State	Maryland
Shares Sold, net of commissions, value	$ 97,000,000
Share Value Used to Buy Property	19,500,000
Distribution Reinvestment Plan, share value	$ 50,000,000
Shares Outstanding	10,952,325
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Issuance of Common Stock - DRIP (Shares)	326,991
Shares Redeemed, Share Repurchase Program (SRP)	191,184
Shares repurchase request, Shares, (SRP)	46,686
Shares repurchase request, Value, (SRP)	$ 426,707
SRP Shares, Expiration Date	Apr. 30, 2017
Non-Voting, Non-Participating Convertible Stock [Member]
Shares Outstanding	1,000
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001

Summary of Significant Accoun59

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Concentration Risk, Number of Tenants	Nine Parking Tenants	Six Parking Tenants	Two Parking Tenants
Acquisition expenses - related party, approximately	$ 1,500,000	$ 2,600,000	$ 1,898,000
Acquisition expenses, approximately	1,000,000	700,000	235,000
Federally Insured Amount Limit	250,000	250,000
Cash In Excess Of The Federally Insured Limits	1,800,000	9,100,000
Advertising Costs
Investment In Real Property [Member]
Concentration Risk, Percentage, Major Customer and Reportable Segments	100.00%
Investment In Real Estate Loans [Member]
Concentration Risk, Percentage, Major Customer and Reportable Segments	0.00%
SP+ [Member]
Concentration Risk, Percentage, Major Customer and Reportable Segments	68.00%	76.00%	83.00%

Related Party Transactions an60

Related Party Transactions and Arrangements (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Acquisition expenses	$ 1,000,000	$ 700,000	$ 235,000
Shares Owned, Related Parties	10,952,325
Distributions	$ (6,637,000)	(4,315,000)	(2,016,000)
Acquisition Fees	$ 195,000	85,000	22,000
Non-Voting, Non-Participating Convertible Stock [Member]
Shares Owned, Related Parties	1,000
JNL Parking [Member]
Acquisition expenses	$ 100,000	600,000	27,000
Sponser [Member]
Shares Owned, Related Parties	28,494
VRM I [Member]
Shares Owned, Related Parties	74,377
Dan Huberty [Member]
Shares Owned, Related Parties	9,341
Advisor [Member]
Acquisition Fees	$ 1,500,000	2,600,000	1,900,000
Debt Financing Fees	114,000	66,000	29,000
Disposition Fees, for sale of properties
Advisor [Member] | Non-Voting, Non-Participating Convertible Stock [Member]
Shares Owned, Related Parties	1,000
MVP REIT II [Member]
Distributions	$ 34,000

Stock-Based Compensation (Detai

Stock-Based Compensation (Details Narrative)	12 Months Ended
	Dec. 31, 2016shares
Equity [Abstract]
Stock Options Granted Percentage Limit	10.00%
Aggregate Maximum Number of Shares Under Incentive Plan	300,000

Acquisitions (Details Narrative

Acquisitions (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
2014 Acquisitions
Guaranteed Real Estate Rate of Return - Related Parties			7.50%
Acquisition expense - related party			$ 1,336,000
VRM I [Member]
2014 Acquisitions
Acquisition expense - related party			200,000
VRM II [Member]
2014 Acquisitions
Acquisition expense - related party			$ 300,000

Investment in Equity Method I63

Investment in Equity Method Investee (Details Narrative)	12 Months Ended
	Dec. 31, 2016USD ($)ft²	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Purchase Price Shared	$ 4,123,000
Rental revenue	$ 8,592,000	$ 4,650,000	$ 658,000
Cleveland Ohio Parking Lot [Member]
Date of Acquisition	May 11, 2016
Location	1200-1240 W. 9th Street and W. 10th Street, Cleveland, Ohio
Purchase Price Shared	$ 5,700,000
Purchase Price	$ 2,800,000
Percentage Owned	49.00%
Size / Acreage (ac) / (sqft) | ft²	87,052
# Spaces / Units	260
Rental revenue	$ 330,000
Lease Arrangement	The parking lot is leased by SP Plus Corporation, a national parking operator, under a net lease agreement where Cleveland West 9th will be responsible for property taxes above a $120,000 threshold, and SP Plus Corporation will pay insurance and maintenance costs. SP Plus Corporation will pay annual rent of $330,000. In addition, the lease provides revenue participation with MVP receiving 70% of gross receipts over $650,000. The term of the lease will be for 5 years.
Crown Colony Parking Lot [Member]
Date of Acquisition	May 17, 2016
Location	1239 W. 9th Street, Cleveland, Ohio
Purchase Price Shared	$ 3,000,000
Purchase Price	$ 1,500,000
Percentage Owned	49.00%
Size / Acreage (ac) / (sqft) | ft²	23,000
# Spaces / Units	82
Rental revenue	$ 185,000
Lease Arrangement	The Crown Colony parking lot is leased by SP Plus Corporation, a national parking operator, under a net lease agreement where MVP will be responsible for property taxes above a $40,000 threshold, and SP Plus Corporation will pay insurance and maintenance costs. SP Plus Corporation will pay annual rent of $185,000. In addition, the lease provides revenue participation with MVP receiving 70% of gross receipts over $325,000. The term of the lease will be for 5 years.
White Front Garage [Member]
Date of Acquisition	Sep. 30, 2016
Location	205 2nd Avenue North, Nashville, TN
Purchase Price Shared	$ 2,307,000
Purchase Price	$ 11,500,000
Percentage Owned	20.00%
Size / Acreage (ac) / (sqft) | ft²	11,000
# Spaces / Units	155
Rental revenue	$ 700,000
Lease Arrangement	The White Front Garage is leased by Premier Parking of Tennessee, LLC (“Premier Parking”), a parking operator with over 300 locations in nine different states, under a NNN lease agreement. Premier Parking will pay annual rent of $700,000. In addition, the lease provides revenue participation with MVP receiving 70% of gross receipts over $850,000. The term of the lease will be for 10 years.

Line of Credit (Details Narrati

Line of Credit (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Maximum Amount Outstanding During Period	$ 4,800,000
Interest expense	$ (2,381,000)	$ (1,313,000)	$ (169,000)
Subsidiary (the "Borrowers") [Member]
Initiation Date	Oct. 5, 2016
Line of Credit, Description	On October 5, 2016, the Company, through its Operating Partnership, and MVP REIT II, through a wholly owned subsidiary (the "Borrowers") entered into a credit agreement (the "Unsecured Credit Agreement") with KeyBank, National Association ('KeyBank") as the administrative agent and KeyBank Capital Markets ("KeyBank Capital Markets") as the lead arranger. Pursuant to the Unsecured Credit Agreement, the Borrowers were provided with a $30 million unsecured credit facility (the "Unsecured Credit Facility"), which may be increased up to $100 million, in minimum increments of $10 million. The Unsecured Credit Facility has an initial term of two years, maturing on October 5, 2018, and may be extended for a one-year period if certain conditions are met and upon payment of an extension fee.
Interest Rate, Description	The Unsecured Credit Facility has an interest rate calculated based on LIBOR Rate plus 2.25% or Base Rate plus 1.25%, both as provided in the Unsecured Credit Agreement. The Base Rate is calculated as the greater of (i) the KeyBank Prime rate or (ii) the Federal Funds rate plus ½ of 1%. Payments under the Unsecured Credit Facility are interest only and are due on the first day of each quarter.
Maximum Borrowing Capacity	$ 25,700,000
Maximum Amount Outstanding During Period	13,000,000
Remaining Borrowing Capacity	12,700,000
Interest expense	33,000
Unused Line Fees	$ 6,000

Notes Payable (Details Narrativ

Notes Payable (Details Narrative) - USD ($)

1 Months Ended

12 Months Ended

Nov. 30, 2016

Jul. 31, 2016

Apr. 30, 2016

Jan. 31, 2016

Aug. 31, 2015

Mar. 30, 2015

Dec. 31, 2014

Jan. 31, 2014

Sep. 30, 2013

Mar. 31, 2013

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Notes Payable

Amount

$ 13,150,000

$ 4,400,000

$ 5,300,000

$ 3,700,000

$ 12,200,000

$ 9,000,000

$ 4,300,000

$ 2,700,000

$ 1,800,000

$ 9,000,000

Term

10 years

10 years

10 years

10 years

7 years

Interest

4.50%

4.00%

4.50%

4.25%

5.59%

4.25%

4.94%

4.35%

4.66%

4.25%

Collateral

secured by real property located in Bridgeport, Connecticut

secured by real property located in Minneapolis, Minnesota

collateralized by real property located in Houston, Texas

collateralized by real property located in Ft. Worth, Texas

secured by the property

secured by four parking facilities

Periodic Payment

$ 73,000

$ 23,000

$ 29,000

$ 20,000

$ 78,000

$ 44,000

$ 25,000

$ 15,000

$ 10,000

Frequency of Periodic Payment

monthly

monthly

monthly

monthly

monthly

monthly

monthly

monthly

monthly

Maturity Date

Dec. 31, 2026

Aug. 31, 2026

Apr. 30, 2026

Aug. 31, 2025

Aug. 31, 2021

Dec. 31, 2024

Feb. 28, 2019

Oct. 31, 2020

Apr. 30, 2023

Lump Sum Payment

$ 1,300,000

Loan Settlement

On November 17, 2016, we refinanced this loan with American National Insurance Company, for $13.15 million. As part of the early payment on the original loan assumed, we had a prepayment penalty of approximately $587,000.

This loan was paid in full in May 2015 through the sale of the property.

This loan was paid in full in October 2015 through the sale of the property.

Interest Expense

$ 2,400,000

$ 1,300,000

$ 200,000

Loan Amortization Cost

195,000

85,000

$ 22,000

Unamortized Loan Issuance Cost

$ 1,106,000

$ 534,000

KeyBank Promissory Note (1) [Member]

Notes Payable

Amount

$ 8,200,000

Term

10 years

Interest

4.59%

Collateral

secured by real property located in Indianapolis, Indiana

Periodic Payment

$ 46,000

Frequency of Periodic Payment

monthly

Maturity Date

Jan. 31, 2026

KeyBank Promissory Note (2) [Member]

Notes Payable

Amount

$ 3,500,000

Term

10 years

Interest

4.59%

Collateral

secured by real property located in St. Louis and Kansas City, Missouri

Periodic Payment

$ 20,000

Frequency of Periodic Payment

monthly

Maturity Date

Dec. 31, 2026

Assets held for sale (Details N

Assets held for sale (Details Narrative) - USD ($)	May 06, 2016	Jan. 06, 2016	Oct. 29, 2016	Dec. 31, 2015	Dec. 31, 2014
Carrying Value				$ 88,000
Gain On Sale Of Investment In Real Estate Held For Sale				$ 1,260,000	$ 44,000
Two Parking Lots Located In Minneapolis, Minnesota [Member]
Percentage Owned		87.09%
Carrying Value		$ 6,100,000
Changes to Plan of Sale		During October 2016, the PSA was cancelled. During February 2017, the Company entered into a letter of intent to sell a portion of the property (approximately 2.2 acres) to an unrelated third party for $3.0 million. The remaining portion of the property will be retained by the Company and will be leased to a parking operator.
Storage Unit in Nevada [Member]
Proceeds from Sale	$ 5,400,000
Proceeds Used to Pay Promissory Note	$ 2,700,000
Storage Unit in Cedar Park, TX [Member]
Proceeds from Sale			$ 4,300,000
Proceeds Used to Pay Promissory Note			2,600,000
Gain/Loss on Sale			$ 1,000,000

Subsequent Events (Details Narr

Subsequent Events (Details Narrative)	1 Months Ended
	Jan. 31, 2017
Subsequent Events [Abstract]
Event Description	During January 2017, the Company and MVP REIT II, through MVP Detroit Center Garage, LLC ("MVP Detroit Center"), an entity owned by the Company and MVP REIT II, acquired a multi-level parking garage consisting of approximately 1,275 parking spaces, located in Detroit, Michigan, for a purchase price of $55.0 million, plus acquisition and financing-related transaction costs. The Company owns a 20% equity interest in the MVP Detroit Center and MVP REIT II owns an 80% equity interest. The parking garage will be operated by SP Plus Corporation ("SP+") under a long-term lease, where SP will be responsible for the first $572,000 in property taxes, pay annual base rent of $3.4 million, and 80% of all gross revenue above $5.0 million. As part of the acquisition MVP Detroit Center entered into a $31.5 million loan agreement with Bank of America, N.A., with a term of 10 years, amortized over 25 years, with monthly principal and interest payments totaling approximately $194,000, bearing an annual interest rate of 5.52%, secured by the parking garage, and maturing in February 2027.