Generation Income Properties (GIPR) 10-Q 14 Aug 23 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Aug. 08, 2023
Document And Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity File Number	001-40771
Entity Registrant Name	GENERATION INCOME PROPERTIES, INC.
Entity Central Index Key	0001651721
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	47-4427295
Entity Address, Address Line One	401 E. Jackson Street
Entity Address, Address Line Two	Suite 3300
Entity Address, City or Town	Tampa
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33602
City Area Code	813
Local Phone Number	448-1234
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,617,588
Common Stock Par Value $0.01 Per Share
Document And Entity Information [Line Items]
Title of 12(b) Security	Common Stock par value $0.01 per share
Trading Symbol	GIPR
Security Exchange Name	NASDAQ
Warrants To Purchase Common Stock
Document And Entity Information [Line Items]
Title of 12(b) Security	Warrants to purchase Common Stock
Trading Symbol	GIPRW
Security Exchange Name	NASDAQ

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Investment in real estate
Land	$ 12,577,544	$ 12,577,544
Building and site improvements	39,772,590	39,764,890
Tenant improvements	907,382	907,382
Acquired lease intangible assets	4,387,526	4,677,928
Less: accumulated depreciation and amortization	(6,441,616)	(5,623,318)
Net real estate investments	51,203,426	52,304,426
Investment in tenancy-in-common	1,247,679	1,218,268
Cash and cash equivalents	2,105,392	3,718,496
Restricted cash	34,500	34,500
Deferred rent asset	319,528	288,797
Prepaid expenses	533,446	132,642
Accounts receivable	125,299	96,063
Escrow deposit and other assets	285,287	184,241
Right of use asset, net	6,190,529	6,232,662
Total Assets	62,045,086	64,210,095
Liabilities
Accounts payable	242,855	173,461
Accrued expenses	379,508	365,624
Accrued expense - related party	506,000	128,901
Acquired lease intangible liabilities, net	537,618	639,973
Insurance payable	239,301	46,368
Deferred rent liability	232,550	251,798
Lease liability, net	6,365,937	6,356,288
Other payable - related party	2,262,300	2,587,300
Loan payable - related party	1,500,000	1,500,000
Mortgage loans, net of unamortized debt issuance costs of $659,651 and $717,381 at June 30, 2023 and December 31, 2022, respectively	34,958,848	35,233,878
Total liabilities	47,224,917	47,283,591
Redeemable Non-Controlling Interests	6,343,042	5,789,731
Stockholders' Equity
Common stock, $0.01 par value, 100,000,000 shares authorized; 2,617,538 and 2,501,644 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively	26,175	25,016
Additional paid-in capital	18,870,576	19,307,518
Accumulated deficit	(10,839,825)	(8,640,796)
Total Generation Income Properties, Inc. stockholders' equity	8,056,926	10,691,738
Non-Controlling Interest	420,201	445,035
Total equity	8,477,127	11,136,773
Total Liabilities and Stockholders' Equity	$ 62,045,086	$ 64,210,095

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Mortgage loans, net of unamortized discount	$ 659,651	$ 717,381
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	2,617,538	2,501,644
Common stock, shares outstanding	2,617,538	2,501,644

Consolidated Statements of Oper

Consolidated Statements of Operations (unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue
Revenue	$ 1,328,878	$ 1,379,103	$ 2,665,917	$ 2,561,038
Expenses
General, administrative and organizational costs	358,989	472,736	703,136	814,416
Building expenses	320,255	325,201	633,855	578,592
Depreciation and amortization	558,001	558,676	1,115,551	989,569
Interest expense, net	466,751	375,627	935,961	705,921
Compensation costs	282,719	310,698	634,006	590,440
Total expenses	1,986,715	2,042,938	4,022,509	3,678,938
Operating loss	(657,837)	(663,835)	(1,356,592)	(1,117,900)
Other expense	0	0	(506,000)	0
Income on investment in tenancy-in-common	15,009	(1,462)	29,411	7,090
Dead deal expense	(109,569)	(107,371)	(109,569)	(107,371)
Loss on debt extinguishment	0	(144,029)	0	(144,029)
Net loss	(752,397)	(916,697)	(1,942,750)	(1,362,210)
Less: Net income attributable to non-controlling interest	129,065	130,181	256,279	260,144
Net income (loss) attributable to Generation Income Properties, Inc.	$ (881,462)	$ (1,046,878)	$ (2,199,029)	$ (1,622,354)
Total Weighted Average Shares of Common Stock Outstanding – Basic	2,615,471	2,255,441	2,578,678	2,224,419
Total Weighted Average Shares of Common Stock Outstanding – Diluted	2,615,471	2,255,441	2,578,678	2,224,419
Basic Income Per Share Attributable to Common Stockholders	$ (0.34)	$ (0.46)	$ (0.85)	$ (0.73)
Diluted Income Per Share Attributable to Common Stockholders	$ (0.34)	$ (0.46)	$ (0.85)	$ (0.73)
Rental Income
Revenue
Revenue	$ 1,318,750	$ 1,378,562	$ 2,645,457	$ 2,560,497
Other Incomes
Revenue
Revenue	$ 10,128	$ 541	$ 20,460	$ 541

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity (unaudited) - USD ($)	Total	As corrected per Note 2	Common Stock	Additional Paid-In- Capital	Accumulated Deficit	Stockholders' Equity	Non-Controlling Interest
Balance at Dec. 31, 2021	$ 14,140,214		$ 21,729	$ 19,051,929	$ (5,403,156)	$ 13,670,502	$ 469,712
Balance, Shares at Dec. 31, 2021			2,172,950
Redeemable Non-Controlling Interest, Balance at Dec. 31, 2021	9,134,979						469,712
Restricted stock unit compensation	93,926		$ 471	93,455		93,926
Restricted stock unit compensation, Shares			47,142
Cashless exercise of warrants			$ 277	(277)
Cashless exercise of warrants, shares			27,676
Issuance of Redeemable Non-Controlling Interest for property acquisition	1,109,570
Distribution on Non-Controlling Interest	(115,303)						3,938
Distribution on Non-Controlling Interest	(3,938)						(3,938)
Dividends paid on common stock	(334,799)			(334,799)		(334,799)
Stock issuance costs	(6,091)			6,091		6,091
Net (loss) income for the quarter		$ (576,596)			(575,476)	(575,476)	(1,120)
Net (loss) income for the quarter	131,083						(1,120)
Balance at Mar. 31, 2022			$ 22,477	18,804,217	(5,978,632)	12,848,062	464,654
Ending Balance at Mar. 31, 2022	13,312,716
Balance, Shares at Mar. 31, 2022			2,247,768
Redeemable Non-Controlling Interest, Balance at Mar. 31, 2022	10,260,329						464,654
Balance at Dec. 31, 2021	14,140,214		$ 21,729	19,051,929	(5,403,156)	13,670,502	469,712
Balance, Shares at Dec. 31, 2021			2,172,950
Redeemable Non-Controlling Interest, Balance at Dec. 31, 2021	9,134,979						469,712
Net (loss) income for the quarter	(1,622,354)
Balance at Jun. 30, 2022			$ 22,577	18,584,981	(7,025,510)	11,582,048	456,387
Ending Balance at Jun. 30, 2022	12,038,435
Balance, Shares at Jun. 30, 2022			2,257,787
Redeemable Non-Controlling Interest, Balance at Jun. 30, 2022	9,869,631						456,387
Balance at Mar. 31, 2022			$ 22,477	18,804,217	(5,978,632)	12,848,062	464,654
Balance, Shares at Mar. 31, 2022			2,247,768
Redeemable Non-Controlling Interest, Balance at Mar. 31, 2022	10,260,329						464,654
Restricted stock unit compensation	124,118		$ 4	124,114		124,118
Restricted stock unit compensation, Shares			357
Cashless exercise of warrants			$ 96	(96)
Cashless exercise of warrants, shares			9,662
Redemption of Redeemable Non-Controlling Interest	(406,652)						0
Distribution on Non-Controlling Interest	(118,556)						3,938
Distribution on Non-Controlling Interest	(3,938)						(3,938)
Dividends paid on common stock	(343,254)			(343,254)		(343,254)
Net (loss) income for the quarter	(1,046,878)	(1,051,207)			(1,046,878)	(1,046,878)	(4,329)
Net (loss) income for the quarter	134,510						(4,329)
Balance at Jun. 30, 2022			$ 22,577	18,584,981	(7,025,510)	11,582,048	456,387
Ending Balance at Jun. 30, 2022	12,038,435
Balance, Shares at Jun. 30, 2022			2,257,787
Redeemable Non-Controlling Interest, Balance at Jun. 30, 2022	9,869,631						456,387
Balance at Dec. 31, 2022	10,691,738		$ 25,016	19,307,518	(8,640,796)	10,691,738	445,035
Balance, Shares at Dec. 31, 2022			2,501,644
Redeemable Non-Controlling Interest, Balance at Dec. 31, 2022	5,789,731						445,035
Restricted stock unit compensation	90,648		$ 986			90,648
Restricted stock unit compensation, Shares			98,593
Cashless exercise of warrants			$ 106	(106)
Cashless exercise of warrants, shares			10,648
Redemption of Redeemable Non-Controlling Interest	(2,479,299)						0
Issuance of Redeemable Non-Controlling Interest for property acquisition	3,000,000
Distribution on Non-Controlling Interest	(115,817)						2,844
Distribution on Non-Controlling Interest	(2,844)						(2,844)
Dividends paid on common stock	(297,479)			(297,479)		(297,479)
Net (loss) income for the quarter		(1,322,475)			(1,317,567)	(1,317,567)	(4,908)
Net (loss) income for the quarter	132,122						(4,908)
Balance at Mar. 31, 2023			$ 26,108	19,099,595	(9,958,363)	9,167,340	437,283
Ending Balance at Mar. 31, 2023	9,604,623
Balance, Shares at Mar. 31, 2023			2,610,885
Redeemable Non-Controlling Interest, Balance at Mar. 31, 2023	6,326,737						437,283
Balance at Dec. 31, 2022	10,691,738		$ 25,016	19,307,518	(8,640,796)	10,691,738	445,035
Balance, Shares at Dec. 31, 2022			2,501,644
Redeemable Non-Controlling Interest, Balance at Dec. 31, 2022	$ 5,789,731						445,035
Cashless exercise of warrants, shares	500
Net (loss) income for the quarter	$ (2,199,029)
Balance at Jun. 30, 2023	8,056,926		$ 26,175	18,870,576	(10,839,825)		420,201
Ending Balance at Jun. 30, 2023	8,477,127					8,056,926
Balance, Shares at Jun. 30, 2023			2,617,538
Redeemable Non-Controlling Interest, Balance at Jun. 30, 2023	6,343,042						420,201
Balance at Mar. 31, 2023			$ 26,108	19,099,595	(9,958,363)	9,167,340	437,283
Balance, Shares at Mar. 31, 2023			2,610,885
Redeemable Non-Controlling Interest, Balance at Mar. 31, 2023	6,326,737						437,283
Restricted stock unit compensation	77,039			77,039		77,039
Cashless exercise of warrants			$ 67	(67)
Cashless exercise of warrants, shares			6,653
Distribution on Non-Controlling Interest	(126,998)						2,844
Distribution on Non-Controlling Interest	(2,844)						(2,844)
Dividends paid on common stock	(305,991)			(305,991)		(305,991)
Net (loss) income for the quarter	(881,462)	$ (895,700)			(881,462)	(881,462)	(14,238)
Net (loss) income for the quarter	143,303						(14,238)
Balance at Jun. 30, 2023	8,056,926		$ 26,175	$ 18,870,576	$ (10,839,825)		420,201
Ending Balance at Jun. 30, 2023	8,477,127					$ 8,056,926
Balance, Shares at Jun. 30, 2023			2,617,538
Redeemable Non-Controlling Interest, Balance at Jun. 30, 2023	$ 6,343,042						$ 420,201

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CASHFLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (1,942,750)	$ (1,362,210)
Adjustments to reconcile net loss to cash used in operating activities
Depreciation	844,249	737,552
Amortization of acquired lease intangible assets	271,302	252,017
Amortization of debt issuance costs	57,730	61,606
Amortization of below market leases	(101,989)	(49,955)
Amortization of above market ground lease	(366)	(226)
Restricted stock unit compensation	167,687	218,044
Non-cash ground lease expense	42,133	28,936
Income on investment in tenancy-in-common	(29,411)	(7,090)
Dead deal expense	109,569	107,371
Loss on debt extinguishment	0	144,029
Changes in operating assets and liabilities:
Accounts receivable	(29,236)	(6,136)
Escrow deposits and other assets	(1,046)	(46,187)
Deferred rent asset	(30,731)	(40,522)
Prepaid expenses	(336,070)	(126,596)
Accounts payable	69,394	(179,958)
Accrued expenses	390,983	60,568
Lease liability	9,649	23,517
Deferred rent liability	(19,248)	57,993
Net cash used in operating activities	(528,151)	(127,247)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of land, buildings, other tangible and intangible assets	(14,551)	(12,780,680)
Prepaid capitalizable deal costs for future property acquisition	(174,303)	0
Escrow (deposit) return for purchase of properties	0	75,000
Investment in tenancy-in-common	0	(455,889)
Net cash used in investing activities	(188,854)	(13,161,569)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of redeemable interest	3,000,000	1,109,570
Redemption of redeemable non-controlling interests	(2,479,299)	(203,326)
Repayment on other payable - related party	(325,000)	0
Mortgage loan borrowings	0	17,650,000
Mortgage loan repayments	(332,760)	(11,014,986)
Escrow deposit to bank for future debt financing	(100,000)	0
Debt issuance costs	0	(354,432)
Stock issuance costs	0	(6,091)
Deferred financing costs	0	(87,020)
Insurance financing borrowings	352,307	288,693
Insurance financing repayments	(159,374)	(114,215)
Distribution on non-controlling interests	(248,503)	(241,735)
Dividends paid on common stock	(603,470)	(678,053)
Net cash used in (provided by) financing activities	(896,099)	6,348,405
Net decrease in cash and cash equivalents	(1,613,104)	(6,940,411)
Cash and cash equivalents and restricted cash - beginning of period	3,752,996	10,624,076
Cash and cash equivalents and restricted cash - end of period	2,139,892	3,683,665
CASH TRANSACTIONS
Interest Paid	882,585	624,470
NON-CASH TRANSACTIONS
Stock issued for cashless exercise of Investor Warrants	173	373
Deferred distribution on redeemable non-controlling interests	32,610	31,734
Recognition of ROU asset and lease liability for ground lease related to property acquisition	0	6,304,334
Redemption of redeemable non-controlling interests accrued	$ 0	$ 203,326

Nature of Operations

Nature of Operations	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Note 1 – Nature of Operations Generation Income Properties, Inc. (the “Company”) was formed as a Maryland corporation on September 19, 2015 . The Company is an internally managed real estate investment company focused on acquiring and managing income-producing retail, office and industrial properties net leased to high quality tenants in major markets throughout the United States. The Company formed Generation Income Properties L.P. (the “Operating Partnership”) in October 2015 . Substantially all of the Company’s assets are held by, and operations are conducted through, the Operating Partnership or its direct or indirect subsidiaries. The Company is the general partner of the Operating Partnership and as of June 30, 2023 owned 90 % of the outstanding common units of the Operating Partnership. The Company formed a Maryland entity GIP REIT OP Limited LLC in 2018 that owns 0.002 % of the Operating Partnership. The Company places each property in a separate entity which may have a Redeemable Non-Controlling interest as a member. As of June 30, 2023 , the Company, the Operating Partnership, and their controlled subsidiaries on a consolidated basis owned 12 properties and held a partial interest in one additional property through a tenancy-in-common investment.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 – Summary of Significant Accounting Policies Basis of Presentation The information furnished reflects all adjustments, consisting only of normal recurring items which are, in the opinion of management, necessary in order to make the financial statements not misleading. Certain information and footnote disclosures normally present in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) were omitted pursuant to such rules and regulations. These financial statements should be read in conjunction with the audited financial statements and footnotes included in the Company’s Annual Report on Form 10-K filed with the SEC on March 28, 2023. The results for the three and six months ended June 30, 2023 are not necessarily indicative of the results to be expected for the year ending December 31, 2023. The preparation of the consolidated financial statements in conformity with U.S. GAAP. The Company adopted the calendar year as its basis of reporting. Certain immaterial prior year amounts have been reclassified for consistency with the current period presentation. Consolidation The accompanying consolidated financial statements include the accounts of Generation Income Properties, Inc. and the Operating Partnership and all of the direct and indirect wholly-owned subsidiaries of the Operating Partnership and the Company’s subsidiaries. All significant inter-company balances and transactions have been eliminated in the consolidated financial statements. The consolidated financial statements include the accounts of all entities in which the Company has a controlling interest. The ownership interests of other investors in these entities are recorded as non-controlling interests or redeemable non-controlling interest. Non-controlling interests are adjusted each period for additional contributions, distributions, and the allocation of net income or loss attributable to the non-controlling interests. Investments in entities for which the Company has the ability to exercise significant influence over, but does not have financial or operating control, are accounted for using the equity method of accounting. Accordingly, the Company’s share of the earnings (or losses) of these entities are included in consolidated net income or loss. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of commitments and 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. It is possible that the estimates and assumptions that have been utilized in the preparation of the consolidated financial statements could change significantly if economic conditions were to weaken. Cash The Company considers all demand deposits, cashier’s checks and money market accounts to be cash equivalents. Amounts included in restricted cash represent funds owned by the Company related to tenant escrow reimbursements and immediate capital repair reserve. The following table provides a reconciliation of the Company’s cash and cash equivalents and restricted cash as of June 30, 2023 and December 31, 2022: As of June 30, As of December 31, 2023 2022 Cash and cash equivalents $ 2,105,392 $ 3,718,496 Restricted cash 34,500 34,500 Cash and cash equivalents and restricted cash $ 2,139,892 $ 3,752,996 Revenue Recognition The Company leases real estate to its tenants under long-term net leases which the Company accounts for as operating leases. Those leases that have fixed and determinable rent increases are recognized on a straight-line basis over the lease term. In addition to straight-line rents, deferred rent liability includes $ 232,550 and $ 271,189 of prepaid rent as of June 30, 2023 and December 31, 2022, respectively. The Company reviews the collectability of charges under its tenant operating leases on a regular basis, taking into consideration changes in factors such as 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 where the property is located. In the event that uncollectibility exists with respect to any tenant changes, the Company would recognize an adjustment to Rental income. The Company’s review of collectability of charges under its operating leases includes any accrued rental revenues related to the straight-line rents. There were no allowances for receivables recorded during three and six months ended June 30, 2023 and 2022. The Company’s leases provide for reimbursement from tenants for common area maintenance (“CAM”), insurance, real estate taxes and other operating expenses (“recoverable costs”). A portion of our operating cost reimbursement revenue is estimated each period and is recognized as rental income in the period the recoverable costs are incurred and accrued. The Company often recognizes above- and below-market lease intangibles in connection with acquisitions of real estate. The capitalized above- and below-market lease intangibles are amortized to rental income over the remaining term of the related leases. Stock-Based Compensation The Company records all equity-based incentive grants to employees and non-employee members of the Company’s Board of Directors in compensation costs based on their fair values on the date of grant. Stock-based compensation expense, reduced for estimated forfeitures, is recognized on a straight-line basis over the requisite service period of the award, which is generally the vesting term of the outstanding equity awards. Investments in Real Estate Acquisitions of real estate are recorded at cost. The Company assigns the purchase price of real estate to tangible and intangible assets and liabilities based on fair value. Tangible assets consist of land, buildings, site improvements, and tenant improvements. Intangible assets and liabilities consist of the value of in-place leases and above- or below- market leases assumed with the acquisition. At the time of acquisition, the Company assesses whether the purchase of the real estate falls within the definition of a business under Accounting Standards Codification (“ASC”) 805 and to date has concluded that all asset transactions are asset acquisitions. Therefore, each acquisition has been recorded at the purchase price whereas assets and liabilities, inclusive of closing costs, are allocated to land, building, site improvements, tenant improvements, and intangible assets and liabilities based upon their relative fair values at the date of acquisition. The fair value of the in-place leases are estimated as the cost to replace the leases including loss of rent, commissions and legal fees. The in-place leases are amortized over the remaining team of the leases as amortization expense. The fair value of the above- or below-market lease is estimated as the present value of the difference between the contractual amount to be paid pursuant to the in-place lease and the estimated current market lease rate expected over the remaining non-cancelable life of the lease. The capitalized above- or below-market lease values are amortized as a decrease or increase to rental income over the remaining term of the lease inclusive of the renewal option periods that are considered probable at acquisition. Depreciation Expense Real estate and related assets are stated net of accumulated depreciation. Renovations, replacements and other expenditures that improve or extend the life of assets are capitalized and depreciated over their estimated useful lives. Expenditures for ordinary maintenance and repairs are charged to expense as incurred. Depreciation is computed using the straight-line method over the estimated useful life of the buildings, which are generally between 15 and 50 years , and site improvements, which are generally 5 years. Tenant improvements are amortized over the lease terms of the tenants, which is generally between 2 and 10 years . Lease Liabilities The Company has a certain property within its portfolio that is on land subject to a ground lease with a third party, which is classified as an operating lease. Accordingly, the Company owns only a long-term leasehold in this property. The building and improvements constructed on the leased land are capitalized as investment in real estate and are depreciated over the shorter of the useful life of the improvements or the lease term. Under ASC 842, the Company recognizes a lease liability for its ground lease and corresponding right of use asset related to this same ground lease which is classified as an operating lease. A key input in estimating the lease liability and resulting right of use asset is establishing the discount rate in the lease, which since the rate implicit in the contract is not readily determinable, requires additional inputs for the longer-term ground lease, including mortgage market-based interest rates that correspond with the remaining term of the lease, the Company's credit spread, and the payment terms present in the lease. This discount rate is applied to the remaining unpaid minimum rental payments for the lease to measure the lease liability. Impairments The Company reviews investments in real estate and related lease intangibles for possible impairment when certain events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable though operations plus estimated disposition proceeds. Events or changes in circumstances that may occur include, but are not limited to, significant changes in real estate market conditions, estimated residual values, and an expectation to sell assets before the end of the previously estimated life. Impairments are measured to the extent the current book value exceeds the estimated fair value of the asset less disposition costs for any assets classified as held for sale. There were no impairments in the Company's investments in real estate during the three and six months ended June 30, 2023 and 2022. The valuation of impaired assets is determined using valuation techniques including discounted cash flow analysis, analysis of recent comparable sales transactions, and purchase offers received from third parties, which are Level 3 inputs. The Company may consider a single valuation technique or multiple valuation techniques, as appropriate, when estimating the fair value of its real estate. Estimating future cash flows is highly subjective and estimates can differ materially from actual results. A loss in value of investments in real estate partnerships under the equity method of accounting, other than a temporary decline, must be recognized in the period in which the loss occurs. If the Company identifies events or circumstances that indicate that the value of the Company's investment may be impaired, it evaluates the investment by calculating the estimated fair value of the investment by discounting estimated future cash flows over the expected term of the investment. There were no impairments in the Company's investment in tenancy-in-common during the three and six months ended June 30, 2023 and 2022 . Income Taxes The Company elected to be taxed as a real estate investment trust (“REIT”) under Section 856 through 860 of the Internal Revenue Code, commencing with our taxable year ending December 31, 2021. To continue to qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its taxable income to its stockholders. As a REIT, the Company generally will not be subject to federal corporate income tax on that portion of its taxable income that is currently distributed to stockholders. Accordingly, the only provision for federal income taxes in the accompanying consolidated financial statements relates to the Company's consolidated taxable REIT subsidiary of which no income was generated during the three and six months ended June 30, 2023 and 2022. The Company also recognizes liabilities for unrecognized tax benefits which are recognized if the weight of available evidence indicates that it is not more-likely-than-not that the positions will be sustained on examination, including resolution of the related processes, if any. As of each balance sheet date, unrecognized benefits are reassessed and adjusted if the Company’s judgment changes as a result of new information. No liability for unrecognized tax benefits was recorded as of June 30, 2023 or December 31, 2022. As of June 30, 2023 , the Company's tax returns for the years 2019 forward remain subject to examination by the major tax jurisdictions under the statute of limitations. Earnings per Share In accordance with ASC 260, basic earnings (loss) per share (“EPS”) is computed by dividing net loss attributable to the Company that is available to common stockholders by the weighted average number of common shares outstanding during the period, excluding the effects of any potentially dilutive securities. Diluted EPS gives effect to all dilutive potential of shares of common stock outstanding during the period including stock warrants, using the treasury stock method, and convertible debt, using the if-converted method. Diluted EPS excludes all potentially dilutive securities such as warrants and convertible membership units of the Operating Partnership (“GIP LP Units”) if their effect is anti-dilutive. For the three and six months ended June 30, 2023 and 2022 , all potentially dilutive securities were excluded because the effect was anti-dilutive. Recent Accounting Pronouncements In June 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-13 to amend the accounting for credit losses for certain financial instruments. Under the new guidance, an entity recognizes its estimate of expected credit losses as an allowance, which the FASB believes will result in more timely recognition of such losses. In November 2018, the FASB released ASU No. 2018-19 “Codification Improvements to Topic 326, Financial Instruments - Credit Losses.” This ASU clarifies that receivables arising from operating leases are not within the scope of Subtopic 326-20 “Financial Instruments - Credit Losses.” Instead, impairment of receivables arising from operating leases should be accounted for under Subtopic 842-30 “Leases - Lessor.” ASU 2016-13 is effective for fiscal years beginning after December 15, 2022 for smaller reporting companies, including interim periods within those fiscal years. The adoption of this new guidance did not have a material impact on our consolidated financial statements.

Investments in Real Estate

Investments in Real Estate	6 Months Ended
	Jun. 30, 2023
Real Estate [Abstract]
Investments in Real Estate	Note 3 – Investments in Real Estate The Company did not acquire any properties during the three and six months ended June 30, 2023. The Company acquired three properties during the six months ended June 30, 2022, detailed below: • On January 7, 2022 , the Company acquired an approximately 10,900 square foot single tenant medical-retail property leased to Fresenius Medical Care (NYSE: FMS) located in Chicago, Illinois. The acquisition was financed with a $ 1,550,000 promissory note and the balance with cash on hand. • On January 14, 2022 , the Company acquired an approximately 2,600 square foot single tenant retail property leased to Starbucks Coffee (NASDAQ: SBUX) located in Tampa, Florida. The acquisition was financed with the issuance of a redeemable non-controlling interest of $ 1,109,570 , debt of $ 1,050,000 and the balance with cash on hand. • On March 9, 2022 , the Company acquired a leasehold interest in a ground lease and corresponding assignment of an approximately 88,400 square foot single tenant retail property leased to Kohl's Corporation (NYSE: KSS) located in Tucson, Arizona. The acquisition was financed with a $ 3,650,000 promissory note and the balance with cash on hand. The following table details the properties acquired during the six months ended June 30, 2022.  Fresenius-Chicago, IL  Starbucks -Tampa, FL  Kohl's -Tucson, AZ  Total Land $ 1,690,837  $ 1,443,262  $ -  $ 3,134,099 Building and site improvements 1,217,395 700,859 6,175,908 8,094,162 Tenant improvements 55,041  20,504  349,136  424,681 Acquired lease intangible assets 276,013  112,830  981,203  1,370,046 Total real estate investments $ 3,239,286  $ 2,277,455  $ 7,506,247  $ 13,022,988 Right of use asset - - 6,304,334 6,304,334 Less: Acquired lease intangible liabilities ( 19,864 ) ( 13,497 ) ( 131,999 ) ( 165,360 ) Less: Lease liability - - ( 6,304,334 ) ( 6,304,334 ) Total real estate investments, net $ 3,219,422 $ 2,263,958  $ 7,374,248  $ 12,857,628

Acquired Lease Intangible Asset

Acquired Lease Intangible Assets, Net	6 Months Ended
	Jun. 30, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Acquired Lease Intangible Assets, Net	Note 4 – Acquired Lease Intangible Assets, net Acquired lease intangible assets, net is comprised of the following: As of June 30, As of December 31, 2023 2022 Acquired lease intangible assets $ 4,387,526 $ 4,677,928 Accumulated amortization ( 1,503,470 ) ( 1,522,570 ) Acquired lease intangible assets, net $ 2,884,056 $ 3,155,358 The amortization for lease intangible assets for the three months ended June 30, 2023 and 2022 was $ 135,739 and $ 138,025 , respectively. The amortization for lease intangible assets for the six months ended June 30, 2023 and 2022 was $ 271,302 and $ 252,017 , respectively. The future amortization for acquired lease intangible assets, net for subsequent years ending December 31 is listed below: As of June 30, 2023 2023 (6 months remaining) $ 545,335 2024 530,506 2025 446,443 2026 426,512 2027 331,580 Thereafter 603,681 $ 2,884,056

Acquired Lease Intangible Liabi

Acquired Lease Intangible Liabilities, Net	6 Months Ended
	Jun. 30, 2023
Below Market Lease [Abstract]
Acquired Lease Intangible Liabilities, net	Note 5 – Acquired lease intangible liabilities, net Acquired lease intangible liabilities, net is comprised of the following: As of June 30, As of December 31, 2023 2022 Acquired lessor lease intangible liabilities $ 880,468 $ 965,216 Accumulated accretion to rental income ( 387,099 ) ( 369,858 ) Acquired lessor lease intangible liabilities, net $ 493,369 $ 595,358 Acquired lessee lease intangible liabilities $ 45,207 $ 45,207 Accumulated amortization to offset building expenses ( 958 ) ( 592 ) Acquired lessee lease intangible liabilities, net $ 44,249 $ 44,615 The amortization for acquired lessor lease intangible liabilities for the three months ended June 30, 2023 and 2022 was $ 75,875 and $ 26,114 , respectively. The amortization for acquired lessor lease intangible liabilities for the six months ended June 30, 2023 and 2022 was $ 101,989 and $ 49,955 , respectively. The future amortization for acquired lessor lease intangible liabilities, net for subsequent years ending December 31 is listed below: As of June 30, 2023 2023 (6 months remaining) $ 52,594 2024 105,188 2025 105,188 2026 93,907 2027 93,907 Thereafter 42,585 $ 493,369 The amortization for acquired lessee lease intangible liabilities for the three months ended June 30, 2023 and 2022 was $ 183 and $ 183 , respectively. The amortization for acquired lessee lease intangible liabilities for the six months ended June 30, 2023 and 2022 was $ 366 and $ 226 , respectively. The future amortization for acquired lessee lease intangible liabilities, net for subsequent years ending December 31 is listed below: As of June 30, 2023 2023 (6 months remaining) $ 366 2024 732 2025 732 2026 732 2027 732 Thereafter 40,955 $ 44,249

Leases

Leases	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Leases	Note 6 – Leases Lessor Accounting All of the Company's leases are classified as operating leases. The Company's rental income is comprised of both fixed and variable income. Fixed and in-substance fixed lease income includes stated amounts per the lease contract, which are primarily related to base rent. The Company’s leases also provide for reimbursement from recoverable costs. A portion of our operating cost reimbursement revenue is estimated each period and is recognized as rental income in the period the recoverable costs are incurred and accrued. Income for these amounts is recognized on a straight-line basis. Variable lease income includes the tenants' contractual obligations to reimburse the Company for their portion of recoverable costs incurred. The following table provides a disaggregation of lease income recognized as either fixed or variable lease income during the three months ended June 30, 2023 and 2022: 2023 2022 Rental income Fixed and in-substance fixed lease income $ 1,149,170 $ 1,236,032 Variable lease income 79,822 86,101 Other related lease income, net: - - Amortization of below-market leases 75,875 26,114 Straight line rent revenue 13,883 30,315 Total rental income $ 1,318,750 $ 1,378,562 The following table provides a disaggregation of lease income recognized as either fixed or variable lease income during the six months ended June 30, 2023 and 2022: 2023 2022 Rental income Fixed and in-substance fixed lease income $ 2,353,094 $ 2,321,773 Variable lease income 159,643 157,354 Other related lease income, net: Amortization of below-market leases 101,989 49,955 Straight line rent revenue 30,731 31,415 Total rental income $ 2,645,457 $ 2,560,497 For the six months ended June 30, 2023 and 2022, we had four tenants that each account for more than 10% of our annual rental revenue as indicated below: 2023 2022 General Services Administration - Norfolk, VA & Manteo, NC 23 % 21 % PRA Holdings, Inc. - Norfolk, VA 16 % 15 % Pratt & Whitney Automation, Inc. - Huntsville, AL 15 % 14 % Kohl's Corporation - Tucson, AZ 17 % 11 % The following table presents future minimum rental cash payments due to the Company over the next five calendar years and thereafter as of December 31: As of June 30, 2023 2023 (6 months remaining) $ 2,364,460 2024 4,157,539 2025 3,950,715 2026 3,828,728 2027 3,234,122 Thereafter 4,468,842 $ 22,004,406 Lessee Accounting The Company acquired one property on March 9, 2022 that is subject to a non-cancelable, long-term ground lease where a third party owns the underlying land and has leased the land to the Company. Accordingly, the Company owns only a long-term leasehold in this property. This ground lease expires in 2084 including those options the Company deems probable of exercising. The ground lease expense is recognized on a straight-line basis over the term of the lease, including management's estimate of expected option renewal periods. Operating lease expense was $ 93,762 and $ 109,015 for the three months ended June 30, 2023 and 2022, respectively, and $ 187,524 and $ 125,015 for the six months ended June 30, 2023 and 2022 , respectively. There are no variable lease expenses required to be paid by the Company as lessee per the lease terms. Cash paid for amounts included in the measurement of the lease liability, net was $ 58,175 and $ 58,176 during the three months ended June 30, 2023 and 2022, respectively, and $ 116,350 and $ 72,563 for the six months ended June 30, 2023 and 2022, respectively. The following table summarizes the undiscounted future cash flows for subsequent years ending December 31 attributable to the lease liability as of June 30, 2023 and provides a reconciliation to the lease liability included in the accompanying Consolidated Balance Sheet as of June 30, 2023. As of June 30, 2023 2023 (6 months remaining) $ 116,350 2024 244,077 2025 245,111 2026 245,111 2027 245,111 Thereafter 21,820,644 Total undiscounted liability $ 22,916,404 Present value discount ( 16,550,467 ) Lease liability $ 6,365,937 Discount rate 4.58 % Term Remaining 61 years

Redeemable Non-Controlling Inte

Redeemable Non-Controlling Interests	6 Months Ended
	Jun. 30, 2023
Noncontrolling Interest [Abstract]
Redeemable Non-Controlling Interests	Note 7 – Non-Controlling Interests Redeemable Non-Controlling Interests (Temporary Equity) As part of the Company’s acquisition of a property for approximately $ 1,737,800 in Manteo, NC, one of the Company’s operating subsidiaries entered into a preferred equity agreement with Brown Family Trust on February 11, 2021 pursuant to which the Company’s subsidiary received a capital contribution of $ 500,000 . The Operating Partnership is the general manager of the subsidiary while Brown Family Trust is a preferred equity member. Pursuant to the agreement, the Company is required to pay the preferred equity member a 9 % internal rate of return ("IRR") on a monthly basis. After 24 months, the Brown Family Trust has the right to redeem and the Operating Partnership has the right to call the preferred equity at redemption value. Because of the redemption right, the non-controlling interest is presented as temporary equity at redemption value of $ 500,000 as of June 30, 2023. Distributable operating funds are distributed first to Brown Family Trust until the unpaid preferred return is paid off and then to the Company. As part of the Company’s acquisition of a property for approximately $ 1,757,300 in Plant City, FL, one of the Company’s operating subsidiaries entered into a preferred equity agreement with Irby Prop Partners on April 21, 2021 pursuant to which the Company’s subsidiary received a capital contribution of $ 950,000 . The Operating Partnership is the general manager of the subsidiary while Irby Prop Partners is a preferred equity member. Pursuant to the agreement, the Company is required to pay the preferred equity member a 12 % total IRR of which 8 % IRR is paid on a monthly basis and 4% IRR is deferred. After 24 months, Irby Prop Partners has the right to redeem the preferred equity at redemption value plus any deferred interest accrued and the Operating Partnership has the right to call the preferred equity at redemption value. Because of the redemption right, the non-controlling interest is presented as temporary equity at redemption value of $ 1,034,110 as of June 30, 2023. Distributable operating funds are distributed first to Irby Prop Partners until the unpaid preferred return is paid off and then to the Company. As part of the Company’s investment in a tenancy-in-common for approximately $ 724,800 in Rockford, IL, one of the Company’s operating subsidiaries entered into a preferred equity agreement with Richard Hornstrom on August 2, 2021 pursuant to which the Company’s subsidiary received a capital contribution of $ 650,000 . The Operating Partnership is the general manager of the subsidiary while Richard Hornstrom is a preferred equity member. Pursuant to the agreement, the Company is required to pay the preferred equity member a 12 % total IRR of which 8% IRR is paid on a monthly basis and 4% IRR is deferred. After 24 months, Richard Hornstrom has the right to redeem the preferred equity at redemption value plus any deferred interest accrued and the Operating Partnership has the right to call the preferred equity at redemption value. Because of the redemption right, the non-controlling interest is presented as temporary equity at redemption value of $ 699,362 as of June 30, 2023. Distributable operating funds are distributed first to Richard Hornstrom until the unpaid preferred return is paid off and then to the Company. On February 8, 2023, the Operating Partnership entered into new Amended and Restated Limited Liability Company Agreements for the Norfolk, Virginia properties, GIPVA 2510 Walmer Ave, LLC ("GIPVA 2510") and GIPVA 130 Corporate Blvd, LLC ("GIPVA 130"), in which the Operating Partnership, as the sole member of GIPVA 2510 and GIPVA 130, admitted a new preferred member, Brown Family Enterprises, LLC, through the issuance of preferred membership interests in the form of Class A Preferred Units of GIPVA 2510 and GIPVA 130. GIPVA 2510 and GIPVA 130 (the “Virginia SPEs”) hold the Company’s Norfolk, Virginia properties. In addition, both of the Virginia SPEs and Brown Family Enterprises, LLC entered into Unit Purchase Agreements in which GIPVA 2510 issued and sold 180,000 Class A Preferred Units at a price of $ 10.00 per unit for an aggregate price of $ 1,800,000 , and GIPVA 130 issued and sold 120,000 Class A Preferred Units at a price of $ 10.00 per unit for an aggregate price of $ 1,200,000 . The Operating Partnership is the general manager of the subsidiary while Brown Family Enterprises, LLC is a preferred equity member. Pursuant to the agreement, the Company is required to pay the preferred equity member a 7% IRR paid on a monthly basis and will share in 16% of the equity in each of the Virginia SPEs upon a capital transaction resulting in distributable proceeds. After 24 months, Brown Family Enterprises, LLC has the right to redeem the preferred equity at redemption value . Because of the redemption right, the non-controlling interest is presented as temporary equity at an aggregated redemption value of $ 3,000,000 as of June 30, 2023. Each of the preferred members described above may redeem their interest on or after the Redemption date (second year anniversary of the closing of the acquisition), at the discretion of such preferred member, as applicable, all or a portion thereof, of such preferred member’s pro-rata share of the redemption value in the form of the units of the Operating Partnership ("GIP LP Units"). Such GIP LP Units shall be subject to all such restrictions, such as with respect to transferability, as reasonably imposed by the Operating Partnership. The number of GIP LP Units issued to any preferred member shall be determined by dividing the total amount of the redemption value that such preferred member shall receive in GIP LP Units by a 15 % discount of the average 30-day market price of Generation Income Properties, Inc. common stock. GIP LP Units shall then be convertible into common stock of Generation Income Properties, Inc. on a 1:1 basis in accordance with the partnership agreement of the Operating Partnership. Additionally, the Operating Partnership has the right to redeem the preferred equity at redemption value with cash after the second year anniversary of the closing of the acquisition. As part of the Company’s acquisition of two properties for approximately $ 19,134,400 on September 30, 2019 in Norfolk, Virginia, the "Norfolk, Virginia properties", the Operating Partnership entered into contribution agreements with two entities (Greenwal, L.C. and Riverside Crossing, L.C.) that resulted in the issuance of 349,913 common units in the Operating Partnership at $ 20.00 per share for a total value of $ 6,998,251 . Greenwal, L.C and Riverside Crossing, L.C. have since been dissolved and the common units were then directly owned by the former members of the two entities. Beginning on the first anniversary of the closing, the contribution agreements allowed for the two investors to require the Operating Partnership to redeem all or a portion of its units for either (i) the Redemption Amount (within the meaning of the Operating Partnership’s Partnership Agreement), or (ii) until forty-nine (49) months from date of closing, cash in an agreed-upon Value (within the meaning of the Operating Partnership’s Partnership Agreement) of $ 20.00 per share, as set forth on the Notice of Redemption. As such, the Company has determined their equity should be classified as a temporary equity at redemption value. On March 21, 2022, the Company received notice from an Operating Partnership common unit holder to redeem 10,166 units at $ 20.00 per unit for a total of $ 203,326 and paid the unit holder on June 24, 2022. On April 25, 2022, the Company received notice from another Operating Partnership common unit holder to redeem 10,166 units at $ 20 per unit for a total of $ 203,326 and paid the unit holder on July 25, 2022. On July 20, 2022, the Company received a notice of redemption from an Operating Partnership common unit holder exercising his right to redeem 25,000 units at $ 20 per unit and such notice further stated the unit holder’s intent to redeem his remaining 180,615 units in the Operating Partnership before October 31, 2023. On August 9, 2022, the Company and Operating Partnership entered a Redemption Agreement with the unit holder providing for the revocation of his July 2022 redemption notice and providing that the his common units in the Operating Partnership would be redeemed by the Operating Partnership as follows: (i) on or before September 15, 2022, 16,250 of the units would be redeemed for an aggregate of $ 325,000 in cash (which is $ 20 per unit, as provided in the applicable Contribution Agreements) and 60,000 of the units would be redeemed in exchange for the issuance of 200,000 shares of the Company’s common stock, and (ii) the remaining 129,365 units would be redeemed for $ 20 per unit in cash in one tranche of 16,250 units on March 15, 2023 and five tranches of 22,623 units each on September 15, 2023, March 15, 2024, June 15, 2024, September 15, 2024, and December 15, 2024. As such, the Company recorded an other payable - related party in the amount of $ 2,912,300 upon execution of the Redemption Agreement entered into August 9, 2022 and continue to pay unit distributions on current units outstanding. The Company made the first and second installment payments of $ 325,000 each in accordance with the Redemption Agreement on September 13, 2022 and March 8, 2023, respectively, reducing the current balance of the other payable - related party to $2,262,300 as of June 30, 2023 . Additionally, on September 12, 2022, the Company issued 200,000 shares of common stock at $ 6.00 per share in accordance with the Redemption Agreement. On January 27, 2023, the remaining two partners from this original transaction redeemed a total of 123,965 units at $ 20 per unit in the aggregate amount of $ 2,479,299 and the Company funded the redemption obligations per the terms of the contribution agreement on February 9, 2023 using proceeds from new preferred equity agreements with Brown Family Enterprises, LLC. During the six months ended June 30, 2023 , we accrued $ 506,000 relating to the potential reimbursement of federal, state and local income taxes incurred by a remaining partner in one of our partnerships pursuant to tax protection agreement. As part of the Company’s acquisition of one property on January 14, 2022 for approximately $ 2,264,000 in Tampa, FL, the Operating Partnership entered into a contribution agreement with LMB Owenton I LLC that resulted in the issuance of 110,957 GIP LP Units at $ 10.00 per share for a total value of $ 1,109,570 . After 24 months, the contribution agreement allows for the investor to require the Operating Partnership to redeem, all or a portion of its units for either (i) the Redemption Amount (within the meaning of the Partnership Agreement), or (ii) until forty nine (49) months from date of Closing, cash in an agreed-upon Value (within the meaning of the Partnership Agreement) of $ 10.00 per share. As such, the Company has determined this equity should be classified as temporary equity at redemption value. On February 7, 2023, the Operating Partnership entered into a Unit Issuance Agreement and Amendment to Contribution and Subscription Agreement with LMB Owenton I LLC in which the Operating Partnership and LMB Owenton I LLC agreed to delay the Contributor’s right to require the redemption of the Contributor’s GIP LP Units in the Operating Partnership until after 36 months on January 14th, 2025 and for a reduced redemption price of $ 7.15 per GIP LP Unit. Such agreement was made in consideration of the issuance to LMB Owenton I LLC of an additional 44,228 GIP LP Units in the Operating Partnership, resulting in Contributor owning an aggregate of 157,771 GIP LP Units in the Operating Partnership at redemption value of $ 1,109,570 as of June 30, 2023. Non-Controlling Interest (Permanent Equity) As part of the Company’s acquisition of one property on November 30, 2020 for $ 1,847,700 in Tampa, FL, the Operating Partnership entered into a contribution agreement with GIP Fund 1, LLC that resulted in the issuance of 24,309 GIP LP Units in the Operating Partnership at $ 20.00 per share for a total value of $ 486,180 . At the time of the acquisition, the Company’s President owned 11 % of GIP Fund 1. GIP Fund 1 has since been dissolved and the GIP Units are now directly owned by the former members of GIP Fund 1. After 12 months, the contribution agreement allows for the former members of GIP Fund 1 to require the Operating Partnership to redeem, all or a portion of its GIP LP Units for common stock of the Company. As such, the Company has determined their equity should be classified as a Non-controlling interest. Following these transactions as of June 30, 2023, the Company owned 90 % of the common units in the Operating Partnership and outside investors owned 10 %. The following table reflects the Company's redeemable non-controlling interests and non-controlling interest during the three and six months ended June 30, 2023 and 2022: Brown Family Trust and Brown Family Enterprises, LLC Irby Prop Partners Richard Hornstrom LMB Owenton I LLC GIP LP (Former Greenwal, L.C. and Riverside Crossing, L.C. Members) Total Redeemable Non-Controlling Interest Non-Controlling Interest - Former GIP Fund 1 Members Balance, December 31, 2021 $ 500,000 $ 976,756 $ 659,972 $ - $ 6,998,251 $ 9,134,979 $ 469,712 Issuance of Redeemable Operating Partnership Units for property acquisition - - - 1,109,570 - 1,109,570 - Distribution on Non-Controlling Interest ( 11,260 ) ( 19,001 ) ( 13,087 ) ( 15,269 ) ( 56,686 ) ( 115,303 ) ( 3,938 ) Net income (loss) for the quarter 11,260 28,370 19,498 15,269 56,686 131,083 ( 1,120 ) Balance, March 31, 2022 $ 500,000 $ 986,125 $ 666,383 $ 1,109,570 $ 6,998,251 $ 10,260,329 $ 464,654 Redemption of Redeemable Non-Controlling Interest - - - - ( 406,652 ) ( 406,652 ) - Distribution on Non-Controlling Interest ( 11,260 ) ( 19,000 ) ( 13,086 ) ( 17,975 ) ( 57,235 ) ( 118,556 ) ( 3,938 ) Net income (loss) for the quarter 11,260 28,471 19,569 17,975 57,235 134,510 ( 4,329 ) Balance, June 30, 2022 $ 500,000 $ 995,596 $ 672,866 $ 1,109,570 $ 6,591,599 $ 9,869,631 $ 456,387 Balance, December 31, 2022 $ 500,000 $ 1,014,748 $ 686,114 $ 1,109,570 $ 2,479,299 $ 5,789,731 $ 445,035 Issuance of Redeemable Non-Controlling Interest 3,000,000 - - - - 3,000,000 - Redemption of Redeemable Non-Controlling Interests - - - - ( 2,479,299 ) ( 2,479,299 ) - Distribution on Non-Controlling Interests ( 46,346 ) ( 19,000 ) ( 13,000 ) ( 18,135 ) ( 19,336 ) ( 115,817 ) ( 2,844 ) Net income (loss) for the quarter 46,346 28,681 19,624 18,135 19,336 132,122 ( 4,908 ) Balance, March 31, 2023 $ 3,500,000 $ 1,024,429 $ 692,738 $ 1,109,570 $ - $ 6,326,737 $ 437,283 Distribution on Non-Controlling Interests ( 63,606 ) ( 19,000 ) ( 13,000 ) ( 18,157 ) ( 13,235 ) ( 126,998 ) ( 2,844 ) Net income (loss) for the quarter 63,606 28,681 19,624 18,157 13,235 143,303 ( 14,238 ) Balance, June 30, 2023 $ 3,500,000 $ 1,034,110 $ 699,362 $ 1,109,570 $ - $ 6,343,042 $ 420,201

Equity

Equity	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Equity	Note 8 – Equity Authorized Equity The Company is authorized to issue up to 100,000,000 shares of common stock and 10,000,000 of undesignated preferred stock. No preferred shares have been issued as of the date of this report. Holders of the Company’s common stock are entitled to receive dividends when authorized by the Company’s Board of Directors. Issuance of Equity Securities for Cash On November 13, 2020, the Company raised $ 1,000,000 by issuing 50,000 Units with each Unit being comprised of one share of its Common Stock and one warrant to purchase one share of its common stock. Each Unit was sold for a price of $ 20.00 per Unit. The shares of the Company’s common stock and warrants included in the Units, were offered together, but the securities included in the Units are issued separately. The warrants are exercisable at a price of $ 20.00 per share of common stock, subject to adjustment in certain circumstances, and will expire seven years from the date of issuance. On September 8, 2021, the Company issued and sold, in an underwritten public offering (the “Public Offering”), 1,500,000 Units, with each unit consisting of one share of common stock, and one warrant to purchase one share of common stock (the “Investor Warrants”). On September 30, 2021, the Company issued and sold an additional 165,000 Investor Warrants as part of the underwriter’s Over-Allotment Option. The Investor Warrants issued in the offering entitle the holder to purchase one share of common stock at a price equal to $ 10.00 for a period of five years. Net proceeds generated were $ 13.8 million, net of underwriter discounts and other financing costs incurred since inception. As part of the Public Offering, the Company entered into an agreement with the Chief Executive Officer ("CEO") to redeem 112,500 shares of common stock for $ 100 which was recorded in accounts payable – related party at December 31, 2021. As of December 31, 2021 these shares had been physically returned to the Company's transfer agent, canceled, and the CEO was paid during the three months ended March 31, 2022. On September 12, 2022, the Company issued 200,000 shares of common stock at $ 6.00 per share in accordance with a Redemption Agreement as discussed in Note 7 - Non-Controlling Interests, and recorded the stock at par value of $ 2,000 with the remaining $ 1,198,000 to additional paid in capital. During the six months ended June 30, 2022, the Company recorded approximately $ 87,000 of stock issuance costs to Deferred Financing Costs for professional fees incurred for filings intended to be made in the future. For the three months ended March 31, 2022, the Company recorded approximately $ 6,100 of issuance costs in additional paid in capital which were incurred during the current period. Warrants Private Placement Warrants On April 25, 2019, the Company raised $ 1,000,000 in a private placement by issuing 50,000 units, with each unit being comprised of one share of its common stock and one warrant to purchase one share of the Company's common stock. Each unit was sold for a price of $ 20.00 per unit. The shares of the Company’s common stock and warrants included in the units, were offered together, but the securities included in the units were issued separately. The warrants are exercisable at a price of $ 20.00 per share of common stock, subject to adjustment in certain circumstances, and will expire seven years from the date of issuance. Investor Warrants Investor Warrants, as described above, may be exercised on a cashless basis if there is no effective registration statement available for the resale of the shares of common stock underlying such warrants. In addition, after 120 days after the Investor Warrants are issued, any Investor Warrant may be exercised on a cashless basis for 10 % of the shares of common stock underlying the Investor Warrant if the volume-weighted average trading price of the Company’s shares of common stock on Nasdaq was at any time below the then-effective exercise price of the Investor Warrant for 10 consecutive trading days. During the six months ended June 30, 2023 , 173,010 Investor Warrants were exercised on a cashless basis resulting in the issuance of 17,301 shares of common stock. During the six months ended June 30, 2022 , 373,380 warrants were exercised on a cashless basis resulting in the issuance of 37,338 shares of common stock. See Note 12 Subsequent Events for Investor Warrants exercised after June 30, 2023. Representative's Warrants In addition, the Company issued to Maxim Group LLC (or its designee) warrants to purchase an aggregate of 149,850 shares of common stock, which is equal to an aggregate of 9 % of the number of shares of common stock sold in the Public Offering (the “Representative’s Warrants”). The Representative’s Warrants have an exercise price equal to $ 12.50 , may be exercised on a cashless basis and became exercisable six months following the closing date and until September 2, 2026 . The Company has 929,890 and 1,541,470 total warrants outstanding and exercisable as of June 30, 2023 and 2022, respectively, as summarized below. Investor Warrants issued on September 8 and 28, 2021 became exercisable on a cashless basis on January 6 and 28, 2022, respectively. As of June 30, Issue Date 2023 April 25, 2019 at an exercise price of $ 20.00 50,000 November 13, 2020 at an exercise price of $ 20.00 50,000 September 8, 2021 at an exercise price of $ 10.00 515,040 September 8, 2021 at an exercise price of $ 12.50 135,000 September 30, 2021 at an exercise price of $ 10.00 165,000 September 30, 2021 at an exercise price of $ 12.50 14,850 929,890 Warrants Weighted Average Price Weighted Average Remaining Life As of December 31, 2022 1,102,900 $ 11.25 3.7 Exercised ( 173,010 ) 10.00 As of June 30, 2023 929,890 $ 11.48 3.2 Warrants exercisable 929,890 $ 11.48 3.2 Warrants Weighted Average Price Weighted Average Remaining Life As of December 31, 2021 1,914,850 $ 10.72 4.7 Exercised ( 373,380 ) 10.00 As of June 30, 2022 1,541,470 $ 10.89 4.2 Warrants exercisable 1,541,470 $ 10.89 4.2 There was no intrinsic value for the warrants as of June 30, 2023 or 2022. Stock Compensation Generation Income Properties, Inc. 2020 Omnibus Incentive Plan In connection with the Public Offering, the Company's Board of Directors adopted and stockholders approved, the Generation Income Properties, Inc. 2020 Omnibus Incentive Plan (the “Omnibus Incentive Plan”), which became effective upon the completion of the Public Offering. The Omnibus Incentive Plan reserves 2.0 million shares of common stock for stock options, stock appreciation rights, performance shares, performance units, shares of common stock, restricted stock, restricted stock units, cash incentive awards, dividend equivalent units, or any other type of award permitted under the Omnibus Incentive Plan. As of June 30, 2023 , 171,590 shares had been granted under the Omnibus Incentive Plan. Restricted Common Shares issued to the Board and Employees • On January 6, 2022, the board approved grants of 47,142 restricted shares to directors, officers and employees effective March 1, 2022 valued at $ 7.00 per share that vest annually over 1 year . The vested share restrictions will be removed upon the first annual anniversary of the award. The 47,142 restricted shares were issued to the directors, officers and employees in March 2022. • On April 12, 2022, the board approved grants of 357 restricted shares to a non-employee for chaplain services rendered effective April 16, 2022 valued at $ 7.06 per share that vest over 1 year. The vested share restrictions will be removed upon the first annual anniversary of the award. The 357 restricted shares were issued in April 2022. • On December 8, 2022, the board approved grants of 98,593 restricted shares to directors, officers and employees effective March 1, 2023 valued at $ 5.68 per share that vest annually over 3 years . The vested share restrictions will be removed upon the first annual anniversary of the award. The 98,593 restricted shares were issued to the directors, officers and employees in March 2023. The following is a summary of restricted shares for the six months ended June 30, 2023 and 2022: 2023 2022 Number of Shares Outstanding at beginning of period 58,502 23,167 Restricted Shares Issued 98,593 47,499 Restricted Shares Vested ( 46,213 ) ( 10,500 ) Number of Shares Outstanding at end of period 110,882 60,166 The Company recorded stock based compensation expense of $ 77,039 and $ 124,118 during the three months ended June 30, 2023 and 2022 , respectively. The Company recorded stock based compensation expense of $ 167,687 and $ 218,044 during the six months ended June 30, 2023 and 2022, respectively. Cash Distributions While the Company is under no obligation to do so, the Company expects to continue to declare and pay distributions to its common stockholders and Operating Partnership unit holders for the foreseeable future. The issuance of a distribution will be determined by the Company's board of directors based on the Company's financial condition and such other factors as the Company's board of directors deems relevant. The Company has not established a minimum distribution, and the Company's charter does not require that the Company issue distributions to its stockholders other than as necessary to meet REIT qualification standards. The following is a summary of distributions to common stockholders and Operating Partnership unit holders: Authorized Date Record Date Per Share/Unit April 3, 2023 June 15, 2023 $ 0.039 April 3, 2023 May 15, 2023 $ 0.039 April 3, 2023 April 15, 2023 $ 0.039 January 3, 2023 March 15, 2023 $ 0.039 January 3, 2023 February 15, 2023 $ 0.039 January 3, 2023 January 15, 2023 $ 0.039 October 3, 2022 December 15, 2022 $ 0.039 October 3, 2022 November 15, 2022 $ 0.039 October 3, 2022 October 15, 2022 $ 0.039 June 27, 2022 September 15, 2022 $ 0.054 June 27, 2022 August 15, 2022 $ 0.054 June 27, 2022 July 15, 2022 $ 0.054 March 15, 2022 June 15, 2022 $ 0.054 March 15, 2022 May 15, 2022 $ 0.054 March 15, 2022 April 15, 2022 $ 0.054 December 10, 2021 March 15, 2022 $ 0.054 December 10, 2021 February 15, 2022 $ 0.054 December 10, 2021 January 15, 2022 $ 0.054 Through June 2022, the Company's CEO waived his right to receive distributions with respect to the shares held by him as of the completion of the Public Offering.

Mortgage Loans

Mortgage Loans	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Mortgage Loans	Note 9 – Mortgage Loans The Company had the following mortgage loans outstanding as of June 30, 2023 and December 31, 2022, respectively: Mortgage Loans Secured By (Tenant-Location) Original Loan Amount Interest Rate Maturity Date 2023 2022 Debt Service Coverage Ratios ("DSCR") Required 7-11 - Washington, DC; Starbucks-South Tampa, FL; and Pratt & Whitney-Huntsville, Alabama $ 11,287,500 (a) 4.17 % 3/6/2030 $ 10,857,962 $ 10,957,829 1.25 GSA - Norfolk, Virginia 8,260,000 3.50 % 9/30/2024 7,472,367 7,578,304 1.25 PRA Holdings, Inc. - Norfolk, Virginia 5,216,749 3.50 % 10/23/2024 4,646,391 4,728,462 1.25 Sherwin-Williams - Tampa, Florida 1,286,664 3.72 % (b) 8/10/2028 1,286,664 1,286,664 1.20 GSA - Manteo, North Carolina 928,728 (c) 3.85 % (d) 3/31/2032 925,071 928,728 1.50 Irby Construction - Plant City , Florida 928,728 (c) 3.85 % (d) 3/31/2032 925,071 928,728 1.50 Best Buy - Grand Junction, Colorado 2,552,644 (c) 3.85 % (d) 3/31/2032 2,542,594 2,552,644 1.50 Fresenius - Chicago, Illinois 1,727,108 (c) 3.85 % (d) 3/31/2032 1,720,308 1,727,108 1.50 Starbucks - North Tampa, Florida 1,298,047 (c) 3.85 % (d) 3/31/2032 1,292,936 1,298,047 1.50 Kohls - Tucson, Arizona 3,964,745 (c) 3.85 % (d) 3/31/2032 3,949,135 3,964,745 1.50 $ 37,450,913 $ 35,618,499 $ 35,951,259 Less Debt Issuance Costs, net ( 659,651 ) ( 717,381 ) $ 34,958,848 $ 35,233,878 (a) Loan subject to prepayment penalty (b) Fixed via interest rate swap (c) One loan in the amount of $ 11.4 million secured by six properties and allocated to each property based on each property's appraised value. (d) Adjustment effective April 1, 2027 equal to 5-year Treasury plus 2.5 % and subject to a floor of 3.85 % The Company amortized debt issuance costs during the three months ended June 30, 2023 and 2022 to interest expense of $ 28,865 and $ 27,933 , respectively. The Company amortized debt issuance costs during the six months ended June 30, 2023 and 2022 to interest expense of $ 57,730 and $ 61,606 , respectively. The Company did not pay debt issuance costs during the three and six months ended June 30, 2023. During the three and six months ended June 30, 2022 the Company paid $ 275,554 and $ 354,432 of debt issuance costs, respectively. Each mortgage loan requires the Company to maintain certain debt service coverage ratios as noted above. In addition, one mortgage loan encumbered by six properties, requires the Company to maintain a 54 % loan to fair market stabilized value ratio. Fair market stabilized value shall be determined by the lender by reference to acceptable guides and indices or appraisals from time to time at its discretion. As of June 30, 2023, the Company was in compliance with all covenants. On April 1, 2022, the Company entered into two mortgage loan agreements with an aggregate balance of $ 13.5 million to refinance seven of the Company's properties. The loan agreements consist of one loan in the amount of $ 11.4 million secured by six properties and allocated to each property based on each property's appraised value, and one loan in the amount of $ 2.1 million on the property held in the tenancy-in-common investment at an interest rate of 3.85 % from April 1, 2022 through and until March 31, 2027. Effective April 1, 2027 and through the maturity date of March 31, 2032, the interest rate adjusts to the 5-year Treasury plus 2.5 % and is subject to a floor of 3.85 %. The Company’s CEO entered into a guarantee agreement pursuant to which he guaranteed the payment obligations under the promissory notes if they become due as a result of certain “bad-boy” provisions, individually and on behalf of the Operating Partnership. The Company’s President and CEO has personally guaranteed the repayment of the $ 10.9 million due under the 7-11 - Washington, DC; Starbucks-South Tampa, FL; and Pratt & Whitney-Huntsville, AL loan as well as the $ 1.3 million loan secured by the Company's Sherwin-Williams - Tampa, FL property. In addition, the Company’s President and CEO has also provided a guarantee of the Borrower’s nonrecourse carveout liabilities and obligations in favor of the lender for the GSA and PRA Holdings, Inc. - Norfolk, VA mortgage loans ("Bayport loans") with an aggregate principal amount of $ 12,118,758 . During the three and six months ended June 30, 2023 , the Company incurred a guarantee fee expense to the Company's CEO of $ 55,652 and $ 116,145 , respectively, recorded to interest expense. No guarantee fee expense was incurred during the three and six months ended June 30, 2022. On May 9, 2022, the Operating Partnership amended the current Commitment Letter with American Momentum Bank, by entering into a new commitment letter, to increase the available borrowings under the facility from $ 25.0 million to $ 50.0 million to be used for the acquisition of income producing real estate properties under the same terms as provided by the agreement entered into on October 26, 2021. The new Commitment Letter will become effective contingent upon the Company completing a future capital raise of $ 25.0 million or more, and prior to such time, the current Commitment Letter will remain in place. On September 9, 2022, the Company and AMB combined the prior AMB commitment letters entered into in October 2021 and May 2022 into a single Commitment Letter, and have amended the rate index used for borrowing to be a variable rate equal to the 30-Day CME Term SOFR Rate, plus a margin of 2.40 %, adjusted monthly, subject to a floor interest rate of 3.25 % per year. All other terms under the prior commitment letters remained materially the same. As of June 30, 2023 and December 31, 2022, the Company did not have an outstanding balance on the facility. On August 9, 2022 the Company and Operating Partnership entered a Redemption Agreement with a unit holder. As such, the Company recorded an other payable - related party in the amount of $ 2,912,300 upon execution of the Redemption Agreement entered into July 20, 2022 and made the first and second installment payments of $ 325,000 each on September 13, 2022 and March 8, 2023, respectively, with a remaining balance of $ 2,262,300 outstanding as of June 30, 2023. On October 14, 2022, the Company entered into a loan transaction that is evidenced by a secured non-convertible promissory note to Brown Family Enterprises, LLC, a preferred equity partner and therefore a related party, for $ 1,500,000 that is due on October 14, 2024, and bears a fixed interest rate of 9 %, simple interest. Interest is payable monthly. The loan may be repaid without penalty at any time. The loan is secured by the Operating Partnership’s equity interest in its current direct subsidiaries that hold real estate assets pursuant to the terms of a security agreement between the Operating Partnership and Brown Family Enterprises, LLC. M inimum required principal payments on the Company’s debt for subsequent years ending December 31 are as follows: Mortgage Loans Other Payable - Related Party Loan Payable - Related Party Total as of June 30, 2023 2023 (6 months remaining) $ 452,764 $ 452,460 $ - $ 905,224 2024 12,427,090 1,809,840 1,500,000 15,736,930 2025 546,280 - - 546,280 2026 568,514 - - 568,514 2027 591,656 - - 591,656 Thereafter 21,032,195 - - 21,032,195 $ 35,618,499 $ 2,262,300 $ 1,500,000 $ 39,380,799

Related Party

Related Party	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Related Party	Note 10 – Related Party As disclosed previously, on August 9, 2022, the Company and Operating Partnership entered a Redemption Agreement with a unit holder. As such, the Company recorded an other payable - related party in the amount of $ 2,912,299 upon execution of the Redemption Agreement entered into July 20, 2022 and made the first and second installment payments of $ 325,000 on September 13, 2022 and March 8, 2023 with a remaining balance of $ 2,262,300 outstanding as of June 30, 2023 . Additionally, the Company issued 200,000 shares of common stock at $ 6.00 per share in accordance with the Redemption Agreement, and recorded the stock at par value of $ 2,000 with the remaining $ 1,198,000 to additional paid in capital. As disclosed previously, on October 14, 2022, the Company entered into a loan transaction that is evidenced by a secured non-convertible promissory note to Brown Family Enterprises, LLC, a preferred equity partner and therefore a related party, for $ 1,500,000 that is due on October 14, 2024, and bears a fixed interest rate of 9 %, simple interest. Interest is payable monthly. The loan may be repaid without penalty at any time. The loan is secured by the Operating Partnership’s equity interest in its current direct subsidiaries that hold real estate assets pursuant to the terms of a security agreement between the Operating Partnership and Brown Family Enterprises, LLC. 3,500 square foot building from GIP Fund 1, LLC, a related party that was owned 11 % by the President and Chairman of the Company. The retail single tenant property (occupied by The Sherwin-Williams Company) in Tampa, Florida was acquired for approximately $ 1.8 million and was funded with approximately $ 1.3 million of debt from Valley National Bank and the issuance of 24,309 GIP LP Units valued at $ 20.00 per unit for purposes of the contribution. Since acquisition, GIP Fund 1, LLC was dissolved and each partner was allocated units to GIP LP pro-rata effectively reducing the President and Chairman of the Company’s ownership to 0.09 % as of June 30, 2023 .

Tenancy-in-Common Investment

Tenancy-in-Common Investment	6 Months Ended
	Jun. 30, 2023
Tenant In Common Investment [Abstract]
Tenancy-in-Common Investment	Note 11 – Tenancy-in-Common Investment On August 13, 2021, the Company entered into a tenancy-in-common (“TIC”) investment whereby the TIC acquired a 15,288 square foot single tenant property in Rockford, IL for total consideration of approximately $ 4.5 million. The Company acquired a 36.8 % interest in the TIC acquisition with Sunny Ridge HHP, LLC (“Sunny Ridge”) holding the remaining TIC interest. Funding for the Company’s interest was primarily funded through a redeemable non-controlling interest contribution from Richard Hornstrom to one of the Company's subsidiaries for $ 650,000 . The remainder of the purchase price of the property was funded by Sunny Ridge of $ 1.2 million and debt financing of approximately $ 2.7 million. Richard Hornstrom owns 50 % of Sunny Ridge and also contributed $ 600,000 of $ 950,000 redeemable non-controlling interest contribution for the Plant City, FL property. On April 1, 2022, the TIC refinanced the debt reducing the total debt outstanding to $ 2.1 million with an interest rate of 3.85 % from April 1, 2022 through and until March 31, 2027. Effective April 1, 2027, the interest rate adjusts to the 5-year Treasury plus 2.5 % and subject to a floor of 3.85 %. The Company’s CEO entered into a guarantee agreement pursuant to which he guaranteed the payment obligations under the promissory note if they become due as a result of certain “bad-boy” provisions, individually and on behalf of the Operating Partnership. The promissory note requires the TIC to maintain a debt service coverage ratio of 1.50 :1:00 in addition to a 54% loan to value ratio. As of June 30, 2023, the TIC was in compliance with all covenants. In conjunction with the refinancing of the debt, the Company contributed $ 455,888 to the TIC increasing the Company's ownership to 50 % interest and reducing Sunny Ridge's interest to 50 %. The Rockford, IL property was accounted for under the equity method and as of June 30, 2023 it had a value of $ 1,247,679 . The condensed income statements for the six months ended June 30, 2023 and 2022 are as follows: Three Months ended June 30, Six Months ended June 30, 2023 2022 2023 2022 Total revenue $ 100,731 $ 93,139 $ 193,870 $ 186,278 Total expenses $ 70,714 $ 64,213 $ 135,049 $ 134,137 Operating income $ 30,017 $ 28,926 $ 58,821 $ 52,141 Loss on debt extinguishment $ - $ ( 31,151 ) $ - $ ( 31,851 ) Net income (loss) $ 30,017 $ ( 2,925 ) $ 58,821 $ 20,290 GIP, LP's Share $ 15,009 $ ( 1,462 ) $ 29,411 $ 7,090 The condensed balance sheets of the tenancy-in-common investment as of June 30, 2023 and December 31, 2022, respectively, are as follows: As of June 30, As of December 31, 2023 2022 Net real estate investments $ 4,444,112 $ 4,503,120 Deferred rent asset 6,395 7,132 Prepaid expenses 1,318 343 Due from related party 76,735 21,710 Total Assets $ 4,528,560 $ 4,532,305 Accounts payable and accrued expenses $ 7,379 $ 6,738 Prepaid rent 26,681 30,550 Acquired lease intangible liabilities, net 31,845 35,561 Mortgage loan, net of unamortized debt issuance costs 2,080,490 2,088,116 Total Liabilities $ 2,146,395 $ 2,160,965 GIP, LP $ 1,247,679 $ 1,218,268 SUNNY RIDGE MHP, LLC 1,134,486 1,153,072 Total Tenants in Common Equity $ 2,382,165 $ 2,371,340 Total Liabilities and Tenants in Common Equity $ 4,528,560 $ 4,532,305

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Note 12 – Subsequent Events On July 3, 2023, the Company announced that our Board of Directors authorized a distribution of $ 0.039 per share monthly cash distribution for shareholders of record of our common stock as of July 15, 2023 , August 15, 2023 , and September 15, 2023 . July distributions were paid on July 31, 2023 and the Company expects to pay August and September distributions on or about August 31, 2023 and September 30, 2023 , respectively. The Operating Partnership common unit holders received the same distribution. On July 21, 2023, the Company, through the Operating Partnership, amended and restated its previously disclosed Secured Promissory Note, dated October 14, 2022, payable to Brown Family Enterprises, LLC (the "Lender"), and the related Security Agreement with the Lender, dated October 14, 2022 (the “Security Agreement”), to reflect an increase in the Note and the loan evidenced thereby (the “Loan”) from $ 1.5 million to $ 5.5 million and extend the maturity date thereof from October 14, 2024 to October 14, 2026 . Except for the increase in the amount of the Loan and Note and the extension of the maturity date thereof, no changes were made to the original Note and Security Agreement. Subsequent to June 30, 2023 but before the filing of this Quarterly Report on Form 10-Q, 500 Investor Warrants were exercised on a cashless basis for 10 % of the shares of Common Stock underlying the Investor Warrant, as the volume-weighted average trading price of the Company’s share s of Common Stock on Nasdaq was below the then-effective exercise price of the Investor Warrant for 10 consecutive trading days as of the date the Investor Warrants became exercisable. As such, 50 shares of common stock were issued upon exercise. On August 10, 2023, the Company entered into an Agreement of Purchase and Sale by and among (i) Modiv Inc., a Maryland corporation (“Modiv”), (ii) each entity identified as a “Seller” on the signature page thereto (together with Modiv, the “Seller”), (iii) the Company, and (iv) the Company’s operating partnership, Generation Income Properties, L.P., a Delaware limited partnership (the “Operating Partnership”), pursuant to which, the Company purchased a portfolio of 13 properties from the Seller (the “Portfolio Purchase”) for a purchase price of $ 42.0 million, excluding estimated transaction costs and expenses of $ 1.6 million, consisting of $ 30.0 million in cash and 2,400,000 shares of a new series of preferred stock designated as Series A Redeemable Preferred Stock (the "Series A Preferred Stock") of the Company, par value $ 0.01 per share. The Company funded the cash portion of the purchase price and the transaction expenses with a combination of cash on hand, $ 21.0 million in new secured mortgage debt, and a $ 12.0 million preferred equity investment by LC2-NNN Pref, LLC, a Florida limited liability company and affiliate of Loci Capital Partners (“LC2”), as summarized below: • The Company, through a newly formed subsidiary, GIP13 LLC, entered into a loan agreement with Valley National Bank (the "Lender") in the amount of $ 21.0 million, which is secured by the 13 properties comprising the Portfolio Purchase, and matures on August 10, 2028 . To secure a fixed interest rate on this new debt, the Company entered into an interest rate swap agreement fixing the interest rate to 7.47 % based on 1-month SOFR plus 3.25 %. The Company’s CEO entered into a guarantee agreement for $ 7.5 million pursuant to which he guaranteed the payment obligations under the promissory notes if they become due as a result of certain “bad-boy” provisions, individually and on behalf of the Operating Partnership. • On August 10, 2023, the Company, through GIP VB SPE, LLC, entered into an Amended and Restated Limited Liability Company Agreement (the “Amended and Restated LLC Agreement”) whereas LC2 purchased a preferred equity interest (the "Preferred Interest") in GIP VB SPE, LLC, providing proceeds of an initial capital contribution of $ 12.0 million, together with a commitment to make an additional $ 2.1 million contribution upon the acquisition of the Company's TIC investment. The Preferred Interest has a cumulative accruing distribution preference of 15.5 % per year, compounded monthly (the “Preferred Return”), a portion of which in the amount of 5 %, compounded monthly, is deemed to be a "Current Preferred Return", and the remainder of which in the amount of 10.5 % per annum (compounded monthly) is deemed to be the “Accrued Preferred Return.” The Company must redeem the membership interest by August 10, 2025, with two options to extend for an additional 12 months upon payment of an extension fee and an increased preferred rate of return of 18 %. LC2 also received a 1 % equity fee at closing and will receive a . 5 % equity fee upon repayment of the membership interest. LC2 will have approval rights to major decisions as defined by the agreement. On August 10, 2023, the Company filed Articles Supplementary (the "Articles Supplementary"), with the State Department of Assessments and Taxation of the State of Maryland, to the Company’s Articles of Amendment and Restatement, as amended, classifying and designating 2,400,000 shares of the Company’s authorized capital stock as shares of Series A Redeemable Preferred Stock. The Company issued 2,400,000 shares of Series A Preferred Stock to Modiv on August 10, 2023, to fund a portion of the purchase price of the Portfolio Purchase. As set forth in the Articles Supplementary, the Series A Preferred Stock ranks, with respect to dividend rights and rights upon the Company’s voluntary or involuntary liquidation, dissolution or winding up, senior to all classes or series of the Company’s common stock, par value $ 0.01 per share (the “Common Stock”). Holders of Series A Preferred Stock, when, as and if authorized by the Company’s board of directors and declared by the Company out of funds legally available for the payment of dividends, are entitled to cumulative cash dividends at the rate of 9.5 % per annum of the $ 5.00 liquidation preference per share, equivalent to a fixed annual amount of $ 0.475 per share, which shall increase to a rate of 12.0% of the $5.00 liquidation preference per share per annum, equivalent to a fixed annual amount of $ 0.60 per share, beginning on September 15, 2024. Dividends are payable monthly in arrears on or about the 15th day of each month, beginning on September 15, 2023. Dividends will accrue and be cumulative from and including August 10, 2023, the first date on which shares of the Series A Preferred Stock were issued. From the date of issuance until March 15, 2024, the Series A Preferred Stock will be redeemable at the Company’s option for either (i) cash, in whole or in part, at a price per share equal to the $ 5.00 liquidation preference, plus an amount equal to all dividends accrued and unpaid (whether or not authorized or declared), if any, to, but not including, the redemption date, on each share of Series A Preferred Stock to be redeemed (the “Cash Redemption Price”) or (ii) subject to the Company’s satisfaction of certain conditions, a number of shares of Common Stock, in whole only and not in part, equal to the Cash Redemption Price, divided by the share price of the Common Stock as measured by the product of (a) the 60-day volume weighted average price (“VWAP”) from the date immediately preceding the redemption date and (b) 110 %. The maximum number of shares of Common Stock that shall be required to redeem the shares of Series A Preferred Stock in full shall not exceed 3,000,000 shares of Common Stock (the “Ceiling”) and the minimum number of shares of Common Stock that shall be required to redeem the shares of Series A Preferred Stock in full shall be no less than 2,200,000 shares (the “Floor”); provided that the Ceiling will not apply if at any time after August 10, 2023, and before redemption of the Series A Preferred Stock, the Company fails to pay a monthly dividend on the Common Stock or reduces, or announces its intent to reduce, the monthly dividend paid on shares of Common Stock to a rate lower than $ 0.039 per share per month. Each of the Floor and the Ceiling is subject to proportionate adjustments for any share splits (including those effected pursuant to a distribution of the Common Stock), subdivisions, reclassifications or combinations with respect to the Common Stock as described in the Articles Supplementary. In addition, the Company’s right to redeem the Series A Preferred Stock for shares of Common Stock is conditioned upon the Company obtaining the approval of its stockholders for the issuance of such Common Stock, as required by the rules of The Nasdaq Stock Market ("Nasdaq"); such shares of Common Stock being listed on Nasdaq; and the SEC having declared a registration statement effective registering the distribution of such Common Stock by Modiv to its stockholders and/or the resale of such Common Stock by Modiv. After March 15, 2024, the Company may only redeem the Series A Preferred Stock for the Cash Redemption Price, unless Modiv agrees, in its sole and absolute discretion, to a redemption of the Series A Preferred Stock for shares of Common Stock, on terms acceptable to Modiv. The Company shall redeem the Series A Preferred Stock for an amount equal to the Cash Redemption Price, upon the delisting of the Common Stock from Nasdaq. In the event of a Change of Control (as defined in the Articles Supplementary) of the Company, the Company shall redeem the Series A Preferred Stock, at the option of Modiv, for either (a) cash, in an amount equal to the Cash Redemption Price, (b) a number of shares of Common Stock equal to the Cash Redemption Price divided by the price per share of the Common Stock as measured by the VWAP of the Common Stock for the 60 trading days immediately preceding the date of the announcement of such Change of Control (the “Change of Control Share Redemption Consideration”) or (c) the kind and amount of consideration which Modiv would have owned or been entitled to receive had it held a number of shares of Common Stock equal to the Change of Control Share Redemption Consideration immediately prior to the effective time of the Change of Control. Concurrent with the closing of the Portfolio Purchase as described above, the Company entered into certain redemption agreements for the following redeemable non-controlling interests in certain special purpose entities that own properties: • On August 8, 2023, the Company and the Brown Family Trust entered into an agreement to redeem Brown Family Trust's preferred equity interest of $ 500,000 and a deferred distribution of $ 1,250 paid on August 10, 2023. • On August 8, 2023, the Company and Irby Prop Partners entered into an agreement to redeem Irby Prop Partners' preferred equity interests of $ 950,000 and a deferred distribution of $ 90,070 paid on August 10, 2023. • On August 8, 2023, the Company and Richard Hornstrom entered into an agreement to redeem Richard Hornstrom's preferred equity interest of $ 650,000 and a deferred distribution of $ 57,780 paid on August 10, 2023.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The information furnished reflects all adjustments, consisting only of normal recurring items which are, in the opinion of management, necessary in order to make the financial statements not misleading. Certain information and footnote disclosures normally present in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) were omitted pursuant to such rules and regulations. These financial statements should be read in conjunction with the audited financial statements and footnotes included in the Company’s Annual Report on Form 10-K filed with the SEC on March 28, 2023. The results for the three and six months ended June 30, 2023 are not necessarily indicative of the results to be expected for the year ending December 31, 2023. The preparation of the consolidated financial statements in conformity with U.S. GAAP. The Company adopted the calendar year as its basis of reporting. Certain immaterial prior year amounts have been reclassified for consistency with the current period presentation.
Consolidation	Consolidation The accompanying consolidated financial statements include the accounts of Generation Income Properties, Inc. and the Operating Partnership and all of the direct and indirect wholly-owned subsidiaries of the Operating Partnership and the Company’s subsidiaries. All significant inter-company balances and transactions have been eliminated in the consolidated financial statements. The consolidated financial statements include the accounts of all entities in which the Company has a controlling interest. The ownership interests of other investors in these entities are recorded as non-controlling interests or redeemable non-controlling interest. Non-controlling interests are adjusted each period for additional contributions, distributions, and the allocation of net income or loss attributable to the non-controlling interests. Investments in entities for which the Company has the ability to exercise significant influence over, but does not have financial or operating control, are accounted for using the equity method of accounting. Accordingly, the Company’s share of the earnings (or losses) of these entities are included in consolidated net income or loss.
Cash	Cash The Company considers all demand deposits, cashier’s checks and money market accounts to be cash equivalents. Amounts included in restricted cash represent funds owned by the Company related to tenant escrow reimbursements and immediate capital repair reserve. The following table provides a reconciliation of the Company’s cash and cash equivalents and restricted cash as of June 30, 2023 and December 31, 2022: As of June 30, As of December 31, 2023 2022 Cash and cash equivalents $ 2,105,392 $ 3,718,496 Restricted cash 34,500 34,500 Cash and cash equivalents and restricted cash $ 2,139,892 $ 3,752,996
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of commitments and 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. It is possible that the estimates and assumptions that have been utilized in the preparation of the consolidated financial statements could change significantly if economic conditions were to weaken.
Revenue Recognition	Revenue Recognition The Company leases real estate to its tenants under long-term net leases which the Company accounts for as operating leases. Those leases that have fixed and determinable rent increases are recognized on a straight-line basis over the lease term. In addition to straight-line rents, deferred rent liability includes $ 232,550 and $ 271,189 of prepaid rent as of June 30, 2023 and December 31, 2022, respectively. The Company reviews the collectability of charges under its tenant operating leases on a regular basis, taking into consideration changes in factors such as 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 where the property is located. In the event that uncollectibility exists with respect to any tenant changes, the Company would recognize an adjustment to Rental income. The Company’s review of collectability of charges under its operating leases includes any accrued rental revenues related to the straight-line rents. There were no allowances for receivables recorded during three and six months ended June 30, 2023 and 2022. The Company’s leases provide for reimbursement from tenants for common area maintenance (“CAM”), insurance, real estate taxes and other operating expenses (“recoverable costs”). A portion of our operating cost reimbursement revenue is estimated each period and is recognized as rental income in the period the recoverable costs are incurred and accrued. The Company often recognizes above- and below-market lease intangibles in connection with acquisitions of real estate. The capitalized above- and below-market lease intangibles are amortized to rental income over the remaining term of the related leases.
Stock-Based Compensation	Stock-Based Compensation The Company records all equity-based incentive grants to employees and non-employee members of the Company’s Board of Directors in compensation costs based on their fair values on the date of grant. Stock-based compensation expense, reduced for estimated forfeitures, is recognized on a straight-line basis over the requisite service period of the award, which is generally the vesting term of the outstanding equity awards.
Investments in Real Estate	Acquisitions of real estate are recorded at cost. The Company assigns the purchase price of real estate to tangible and intangible assets and liabilities based on fair value. Tangible assets consist of land, buildings, site improvements, and tenant improvements. Intangible assets and liabilities consist of the value of in-place leases and above- or below- market leases assumed with the acquisition. At the time of acquisition, the Company assesses whether the purchase of the real estate falls within the definition of a business under Accounting Standards Codification (“ASC”) 805 and to date has concluded that all asset transactions are asset acquisitions. Therefore, each acquisition has been recorded at the purchase price whereas assets and liabilities, inclusive of closing costs, are allocated to land, building, site improvements, tenant improvements, and intangible assets and liabilities based upon their relative fair values at the date of acquisition. The fair value of the in-place leases are estimated as the cost to replace the leases including loss of rent, commissions and legal fees. The in-place leases are amortized over the remaining team of the leases as amortization expense. The fair value of the above- or below-market lease is estimated as the present value of the difference between the contractual amount to be paid pursuant to the in-place lease and the estimated current market lease rate expected over the remaining non-cancelable life of the lease. The capitalized above- or below-market lease values are amortized as a decrease or increase to rental income over the remaining term of the lease inclusive of the renewal option periods that are considered probable at acquisition.
Depreciation Expense	Depreciation Expense Real estate and related assets are stated net of accumulated depreciation. Renovations, replacements and other expenditures that improve or extend the life of assets are capitalized and depreciated over their estimated useful lives. Expenditures for ordinary maintenance and repairs are charged to expense as incurred. Depreciation is computed using the straight-line method over the estimated useful life of the buildings, which are generally between 15 and 50 years , and site improvements, which are generally 5 years. Tenant improvements are amortized over the lease terms of the tenants, which is generally between 2 and 10 years .
Lease Liabilities	Lease Liabilities The Company has a certain property within its portfolio that is on land subject to a ground lease with a third party, which is classified as an operating lease. Accordingly, the Company owns only a long-term leasehold in this property. The building and improvements constructed on the leased land are capitalized as investment in real estate and are depreciated over the shorter of the useful life of the improvements or the lease term. Under ASC 842, the Company recognizes a lease liability for its ground lease and corresponding right of use asset related to this same ground lease which is classified as an operating lease. A key input in estimating the lease liability and resulting right of use asset is establishing the discount rate in the lease, which since the rate implicit in the contract is not readily determinable, requires additional inputs for the longer-term ground lease, including mortgage market-based interest rates that correspond with the remaining term of the lease, the Company's credit spread, and the payment terms present in the lease. This discount rate is applied to the remaining unpaid minimum rental payments for the lease to measure the lease liability.
Income Taxes	Income Taxes The Company elected to be taxed as a real estate investment trust (“REIT”) under Section 856 through 860 of the Internal Revenue Code, commencing with our taxable year ending December 31, 2021. To continue to qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its taxable income to its stockholders. As a REIT, the Company generally will not be subject to federal corporate income tax on that portion of its taxable income that is currently distributed to stockholders. Accordingly, the only provision for federal income taxes in the accompanying consolidated financial statements relates to the Company's consolidated taxable REIT subsidiary of which no income was generated during the three and six months ended June 30, 2023 and 2022. The Company also recognizes liabilities for unrecognized tax benefits which are recognized if the weight of available evidence indicates that it is not more-likely-than-not that the positions will be sustained on examination, including resolution of the related processes, if any. As of each balance sheet date, unrecognized benefits are reassessed and adjusted if the Company’s judgment changes as a result of new information. No liability for unrecognized tax benefits was recorded as of June 30, 2023 or December 31, 2022. As of June 30, 2023 , the Company's tax returns for the years 2019 forward remain subject to examination by the major tax jurisdictions under the statute of limitations.
Earnings per Share	Earnings per Share In accordance with ASC 260, basic earnings (loss) per share (“EPS”) is computed by dividing net loss attributable to the Company that is available to common stockholders by the weighted average number of common shares outstanding during the period, excluding the effects of any potentially dilutive securities. Diluted EPS gives effect to all dilutive potential of shares of common stock outstanding during the period including stock warrants, using the treasury stock method, and convertible debt, using the if-converted method. Diluted EPS excludes all potentially dilutive securities such as warrants and convertible membership units of the Operating Partnership (“GIP LP Units”) if their effect is anti-dilutive. For the three and six months ended June 30, 2023 and 2022 , all potentially dilutive securities were excluded because the effect was anti-dilutive.
Impairments	Impairments The Company reviews investments in real estate and related lease intangibles for possible impairment when certain events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable though operations plus estimated disposition proceeds. Events or changes in circumstances that may occur include, but are not limited to, significant changes in real estate market conditions, estimated residual values, and an expectation to sell assets before the end of the previously estimated life. Impairments are measured to the extent the current book value exceeds the estimated fair value of the asset less disposition costs for any assets classified as held for sale. There were no impairments in the Company's investments in real estate during the three and six months ended June 30, 2023 and 2022. The valuation of impaired assets is determined using valuation techniques including discounted cash flow analysis, analysis of recent comparable sales transactions, and purchase offers received from third parties, which are Level 3 inputs. The Company may consider a single valuation technique or multiple valuation techniques, as appropriate, when estimating the fair value of its real estate. Estimating future cash flows is highly subjective and estimates can differ materially from actual results. A loss in value of investments in real estate partnerships under the equity method of accounting, other than a temporary decline, must be recognized in the period in which the loss occurs. If the Company identifies events or circumstances that indicate that the value of the Company's investment may be impaired, it evaluates the investment by calculating the estimated fair value of the investment by discounting estimated future cash flows over the expected term of the investment. There were no impairments in the Company's investment in tenancy-in-common during the three and six months ended June 30, 2023 and 2022 .
Recent Acounting Prounouncements	Recent Accounting Pronouncements In June 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-13 to amend the accounting for credit losses for certain financial instruments. Under the new guidance, an entity recognizes its estimate of expected credit losses as an allowance, which the FASB believes will result in more timely recognition of such losses. In November 2018, the FASB released ASU No. 2018-19 “Codification Improvements to Topic 326, Financial Instruments - Credit Losses.” This ASU clarifies that receivables arising from operating leases are not within the scope of Subtopic 326-20 “Financial Instruments - Credit Losses.” Instead, impairment of receivables arising from operating leases should be accounted for under Subtopic 842-30 “Leases - Lessor.” ASU 2016-13 is effective for fiscal years beginning after December 15, 2022 for smaller reporting companies, including interim periods within those fiscal years. The adoption of this new guidance did not have a material impact on our consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Schedule of Reconciliation of Cash and Cash Equivalents and Restricted Cash	The following table provides a reconciliation of the Company’s cash and cash equivalents and restricted cash as of June 30, 2023 and December 31, 2022: As of June 30, As of December 31, 2023 2022 Cash and cash equivalents $ 2,105,392 $ 3,718,496 Restricted cash 34,500 34,500 Cash and cash equivalents and restricted cash $ 2,139,892 $ 3,752,996

Investments in Real Estate (Tab

Investments in Real Estate (Tables)	6 Months Ended
	Jun. 30, 2023
Schedule of Acquired Properties	The following table details the properties acquired during the six months ended June 30, 2022.  Fresenius-Chicago, IL  Starbucks -Tampa, FL  Kohl's -Tucson, AZ  Total Land $ 1,690,837  $ 1,443,262  $ -  $ 3,134,099 Building and site improvements 1,217,395 700,859 6,175,908 8,094,162 Tenant improvements 55,041  20,504  349,136  424,681 Acquired lease intangible assets 276,013  112,830  981,203  1,370,046 Total real estate investments $ 3,239,286  $ 2,277,455  $ 7,506,247  $ 13,022,988 Right of use asset - - 6,304,334 6,304,334 Less: Acquired lease intangible liabilities ( 19,864 ) ( 13,497 ) ( 131,999 ) ( 165,360 ) Less: Lease liability - - ( 6,304,334 ) ( 6,304,334 ) Total real estate investments, net $ 3,219,422 $ 2,263,958  $ 7,374,248  $ 12,857,628

Acquired Lease Intangible Ass_2

Acquired Lease Intangible Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule of Intangible Assets, Net	Acquired lease intangible assets, net is comprised of the following: As of June 30, As of December 31, 2023 2022 Acquired lease intangible assets $ 4,387,526 $ 4,677,928 Accumulated amortization ( 1,503,470 ) ( 1,522,570 ) Acquired lease intangible assets, net $ 2,884,056 $ 3,155,358
Schedule of Future Amortization for Intangible Assets	The future amortization for acquired lease intangible assets, net for subsequent years ending December 31 is listed below: As of June 30, 2023 2023 (6 months remaining) $ 545,335 2024 530,506 2025 446,443 2026 426,512 2027 331,580 Thereafter 603,681 $ 2,884,056

Acquired Lease Intangible Lia_2

Acquired Lease Intangible Liabilities, Net (Tables)	6 Months Ended
	Jun. 30, 2023
Below Market Lease [Abstract]
Summary of Acquired Lease Intangible Liabilities	Acquired lease intangible liabilities, net is comprised of the following: As of June 30, As of December 31, 2023 2022 Acquired lessor lease intangible liabilities $ 880,468 $ 965,216 Accumulated accretion to rental income ( 387,099 ) ( 369,858 ) Acquired lessor lease intangible liabilities, net $ 493,369 $ 595,358 Acquired lessee lease intangible liabilities $ 45,207 $ 45,207 Accumulated amortization to offset building expenses ( 958 ) ( 592 ) Acquired lessee lease intangible liabilities, net $ 44,249 $ 44,615
Summary of Future Amortization for Intangible Liabilities	The future amortization for acquired lessor lease intangible liabilities, net for subsequent years ending December 31 is listed below: As of June 30, 2023 2023 (6 months remaining) $ 52,594 2024 105,188 2025 105,188 2026 93,907 2027 93,907 Thereafter 42,585 $ 493,369 The amortization for acquired lessee lease intangible liabilities for the three months ended June 30, 2023 and 2022 was $ 183 and $ 183 , respectively. The amortization for acquired lessee lease intangible liabilities for the six months ended June 30, 2023 and 2022 was $ 366 and $ 226 , respectively. The future amortization for acquired lessee lease intangible liabilities, net for subsequent years ending December 31 is listed below: As of June 30, 2023 2023 (6 months remaining) $ 366 2024 732 2025 732 2026 732 2027 732 Thereafter 40,955 $ 44,249

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Summary of Disaggregation of Lease Income	The following table provides a disaggregation of lease income recognized as either fixed or variable lease income during the three months ended June 30, 2023 and 2022: 2023 2022 Rental income Fixed and in-substance fixed lease income $ 1,149,170 $ 1,236,032 Variable lease income 79,822 86,101 Other related lease income, net: - - Amortization of below-market leases 75,875 26,114 Straight line rent revenue 13,883 30,315 Total rental income $ 1,318,750 $ 1,378,562 The following table provides a disaggregation of lease income recognized as either fixed or variable lease income during the six months ended June 30, 2023 and 2022: 2023 2022 Rental income Fixed and in-substance fixed lease income $ 2,353,094 $ 2,321,773 Variable lease income 159,643 157,354 Other related lease income, net: Amortization of below-market leases 101,989 49,955 Straight line rent revenue 30,731 31,415 Total rental income $ 2,645,457 $ 2,560,497
Summary of Concentration of Risk Percentage of Tenants	For the six months ended June 30, 2023 and 2022, we had four tenants that each account for more than 10% of our annual rental revenue as indicated below: 2023 2022 General Services Administration - Norfolk, VA & Manteo, NC 23 % 21 % PRA Holdings, Inc. - Norfolk, VA 16 % 15 % Pratt & Whitney Automation, Inc. - Huntsville, AL 15 % 14 % Kohl's Corporation - Tucson, AZ 17 % 11 %
Summary of Future Minimum Rental Payments Due to the Company	The following table presents future minimum rental cash payments due to the Company over the next five calendar years and thereafter as of December 31: As of June 30, 2023 2023 (6 months remaining) $ 2,364,460 2024 4,157,539 2025 3,950,715 2026 3,828,728 2027 3,234,122 Thereafter 4,468,842 $ 22,004,406
Summary of Future Minimum Rental Cash Payments Due and Undiscounted Future Cash Flows	The following table summarizes the undiscounted future cash flows for subsequent years ending December 31 attributable to the lease liability as of June 30, 2023 and provides a reconciliation to the lease liability included in the accompanying Consolidated Balance Sheet as of June 30, 2023. As of June 30, 2023 2023 (6 months remaining) $ 116,350 2024 244,077 2025 245,111 2026 245,111 2027 245,111 Thereafter 21,820,644 Total undiscounted liability $ 22,916,404 Present value discount ( 16,550,467 ) Lease liability $ 6,365,937 Discount rate 4.58 % Term Remaining 61 years

Redeemable Non-Controlling In_2

Redeemable Non-Controlling Interests (Tables)	6 Months Ended
	Jun. 30, 2023
Noncontrolling Interest [Abstract]
Summary of Redeemable Non-Controlling Interests	The following table reflects the Company's redeemable non-controlling interests and non-controlling interest during the three and six months ended June 30, 2023 and 2022: Brown Family Trust and Brown Family Enterprises, LLC Irby Prop Partners Richard Hornstrom LMB Owenton I LLC GIP LP (Former Greenwal, L.C. and Riverside Crossing, L.C. Members) Total Redeemable Non-Controlling Interest Non-Controlling Interest - Former GIP Fund 1 Members Balance, December 31, 2021 $ 500,000 $ 976,756 $ 659,972 $ - $ 6,998,251 $ 9,134,979 $ 469,712 Issuance of Redeemable Operating Partnership Units for property acquisition - - - 1,109,570 - 1,109,570 - Distribution on Non-Controlling Interest ( 11,260 ) ( 19,001 ) ( 13,087 ) ( 15,269 ) ( 56,686 ) ( 115,303 ) ( 3,938 ) Net income (loss) for the quarter 11,260 28,370 19,498 15,269 56,686 131,083 ( 1,120 ) Balance, March 31, 2022 $ 500,000 $ 986,125 $ 666,383 $ 1,109,570 $ 6,998,251 $ 10,260,329 $ 464,654 Redemption of Redeemable Non-Controlling Interest - - - - ( 406,652 ) ( 406,652 ) - Distribution on Non-Controlling Interest ( 11,260 ) ( 19,000 ) ( 13,086 ) ( 17,975 ) ( 57,235 ) ( 118,556 ) ( 3,938 ) Net income (loss) for the quarter 11,260 28,471 19,569 17,975 57,235 134,510 ( 4,329 ) Balance, June 30, 2022 $ 500,000 $ 995,596 $ 672,866 $ 1,109,570 $ 6,591,599 $ 9,869,631 $ 456,387 Balance, December 31, 2022 $ 500,000 $ 1,014,748 $ 686,114 $ 1,109,570 $ 2,479,299 $ 5,789,731 $ 445,035 Issuance of Redeemable Non-Controlling Interest 3,000,000 - - - - 3,000,000 - Redemption of Redeemable Non-Controlling Interests - - - - ( 2,479,299 ) ( 2,479,299 ) - Distribution on Non-Controlling Interests ( 46,346 ) ( 19,000 ) ( 13,000 ) ( 18,135 ) ( 19,336 ) ( 115,817 ) ( 2,844 ) Net income (loss) for the quarter 46,346 28,681 19,624 18,135 19,336 132,122 ( 4,908 ) Balance, March 31, 2023 $ 3,500,000 $ 1,024,429 $ 692,738 $ 1,109,570 $ - $ 6,326,737 $ 437,283 Distribution on Non-Controlling Interests ( 63,606 ) ( 19,000 ) ( 13,000 ) ( 18,157 ) ( 13,235 ) ( 126,998 ) ( 2,844 ) Net income (loss) for the quarter 63,606 28,681 19,624 18,157 13,235 143,303 ( 14,238 ) Balance, June 30, 2023 $ 3,500,000 $ 1,034,110 $ 699,362 $ 1,109,570 $ - $ 6,343,042 $ 420,201

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Schedule of Stockholders Equity [Table Text Block]	Warrants Weighted Average Price Weighted Average Remaining Life As of December 31, 2022 1,102,900 $ 11.25 3.7 Exercised ( 173,010 ) 10.00 As of June 30, 2023 929,890 $ 11.48 3.2 Warrants exercisable 929,890 $ 11.48 3.2 Warrants Weighted Average Price Weighted Average Remaining Life As of December 31, 2021 1,914,850 $ 10.72 4.7 Exercised ( 373,380 ) 10.00 As of June 30, 2022 1,541,470 $ 10.89 4.2 Warrants exercisable 1,541,470 $ 10.89 4.2 There was no intrinsic value for the warrants as of June 30, 2023 or 2022.
Schedule of Restricted Common Shares Issued	The following is a summary of restricted shares for the six months ended June 30, 2023 and 2022: 2023 2022 Number of Shares Outstanding at beginning of period 58,502 23,167 Restricted Shares Issued 98,593 47,499 Restricted Shares Vested ( 46,213 ) ( 10,500 ) Number of Shares Outstanding at end of period 110,882 60,166 The Company recorded stock based compensation expense of $ 77,039 and $ 124,118 during the three months ended June 30, 2023 and 2022 , respectively.
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Investor Warrants issued on September 8 and 28, 2021 became exercisable on a cashless basis on January 6 and 28, 2022, respectively. As of June 30, Issue Date 2023 April 25, 2019 at an exercise price of $ 20.00 50,000 November 13, 2020 at an exercise price of $ 20.00 50,000 September 8, 2021 at an exercise price of $ 10.00 515,040 September 8, 2021 at an exercise price of $ 12.50 135,000 September 30, 2021 at an exercise price of $ 10.00 165,000 September 30, 2021 at an exercise price of $ 12.50 14,850 929,890
Schedule of Cash Distributions	The following is a summary of distributions to common stockholders and Operating Partnership unit holders: Authorized Date Record Date Per Share/Unit April 3, 2023 June 15, 2023 $ 0.039 April 3, 2023 May 15, 2023 $ 0.039 April 3, 2023 April 15, 2023 $ 0.039 January 3, 2023 March 15, 2023 $ 0.039 January 3, 2023 February 15, 2023 $ 0.039 January 3, 2023 January 15, 2023 $ 0.039 October 3, 2022 December 15, 2022 $ 0.039 October 3, 2022 November 15, 2022 $ 0.039 October 3, 2022 October 15, 2022 $ 0.039 June 27, 2022 September 15, 2022 $ 0.054 June 27, 2022 August 15, 2022 $ 0.054 June 27, 2022 July 15, 2022 $ 0.054 March 15, 2022 June 15, 2022 $ 0.054 March 15, 2022 May 15, 2022 $ 0.054 March 15, 2022 April 15, 2022 $ 0.054 December 10, 2021 March 15, 2022 $ 0.054 December 10, 2021 February 15, 2022 $ 0.054 December 10, 2021 January 15, 2022 $ 0.054 Through June 2022, the Company's CEO waived his right to receive distributions with respect to the shares held by him as of the completion of the Public Offering.

Mortgage Loans (Tables)

Mortgage Loans (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Promissory Notes	The Company had the following mortgage loans outstanding as of June 30, 2023 and December 31, 2022, respectively: Mortgage Loans Secured By (Tenant-Location) Original Loan Amount Interest Rate Maturity Date 2023 2022 Debt Service Coverage Ratios ("DSCR") Required 7-11 - Washington, DC; Starbucks-South Tampa, FL; and Pratt & Whitney-Huntsville, Alabama $ 11,287,500 (a) 4.17 % 3/6/2030 $ 10,857,962 $ 10,957,829 1.25 GSA - Norfolk, Virginia 8,260,000 3.50 % 9/30/2024 7,472,367 7,578,304 1.25 PRA Holdings, Inc. - Norfolk, Virginia 5,216,749 3.50 % 10/23/2024 4,646,391 4,728,462 1.25 Sherwin-Williams - Tampa, Florida 1,286,664 3.72 % (b) 8/10/2028 1,286,664 1,286,664 1.20 GSA - Manteo, North Carolina 928,728 (c) 3.85 % (d) 3/31/2032 925,071 928,728 1.50 Irby Construction - Plant City , Florida 928,728 (c) 3.85 % (d) 3/31/2032 925,071 928,728 1.50 Best Buy - Grand Junction, Colorado 2,552,644 (c) 3.85 % (d) 3/31/2032 2,542,594 2,552,644 1.50 Fresenius - Chicago, Illinois 1,727,108 (c) 3.85 % (d) 3/31/2032 1,720,308 1,727,108 1.50 Starbucks - North Tampa, Florida 1,298,047 (c) 3.85 % (d) 3/31/2032 1,292,936 1,298,047 1.50 Kohls - Tucson, Arizona 3,964,745 (c) 3.85 % (d) 3/31/2032 3,949,135 3,964,745 1.50 $ 37,450,913 $ 35,618,499 $ 35,951,259 Less Debt Issuance Costs, net ( 659,651 ) ( 717,381 ) $ 34,958,848 $ 35,233,878 (a) Loan subject to prepayment penalty (b) Fixed via interest rate swap (c) One loan in the amount of $ 11.4 million secured by six properties and allocated to each property based on each property's appraised value. (d) Adjustment effective April 1, 2027 equal to 5-year Treasury plus 2.5 % and subject to a floor of 3.85 %
Schedule of Minimum Required Principal Payments	inimum required principal payments on the Company’s debt for subsequent years ending December 31 are as follows: Mortgage Loans Other Payable - Related Party Loan Payable - Related Party Total as of June 30, 2023 2023 (6 months remaining) $ 452,764 $ 452,460 $ - $ 905,224 2024 12,427,090 1,809,840 1,500,000 15,736,930 2025 546,280 - - 546,280 2026 568,514 - - 568,514 2027 591,656 - - 591,656 Thereafter 21,032,195 - - 21,032,195 $ 35,618,499 $ 2,262,300 $ 1,500,000 $ 39,380,799

Tenancy-in-Common Investment (T

Tenancy-in-Common Investment (Tables)	6 Months Ended
	Jun. 30, 2023
Tenant In Common Investment [Abstract]
Condensed Income Statement of Tenant in Common Investment	The condensed income statements for the six months ended June 30, 2023 and 2022 are as follows: Three Months ended June 30, Six Months ended June 30, 2023 2022 2023 2022 Total revenue $ 100,731 $ 93,139 $ 193,870 $ 186,278 Total expenses $ 70,714 $ 64,213 $ 135,049 $ 134,137 Operating income $ 30,017 $ 28,926 $ 58,821 $ 52,141 Loss on debt extinguishment $ - $ ( 31,151 ) $ - $ ( 31,851 ) Net income (loss) $ 30,017 $ ( 2,925 ) $ 58,821 $ 20,290 GIP, LP's Share $ 15,009 $ ( 1,462 ) $ 29,411 $ 7,090
Condensed Balance Sheets of Tenant in Common Investment	The condensed balance sheets of the tenancy-in-common investment as of June 30, 2023 and December 31, 2022, respectively, are as follows: As of June 30, As of December 31, 2023 2022 Net real estate investments $ 4,444,112 $ 4,503,120 Deferred rent asset 6,395 7,132 Prepaid expenses 1,318 343 Due from related party 76,735 21,710 Total Assets $ 4,528,560 $ 4,532,305 Accounts payable and accrued expenses $ 7,379 $ 6,738 Prepaid rent 26,681 30,550 Acquired lease intangible liabilities, net 31,845 35,561 Mortgage loan, net of unamortized debt issuance costs 2,080,490 2,088,116 Total Liabilities $ 2,146,395 $ 2,160,965 GIP, LP $ 1,247,679 $ 1,218,268 SUNNY RIDGE MHP, LLC 1,134,486 1,153,072 Total Tenants in Common Equity $ 2,382,165 $ 2,371,340 Total Liabilities and Tenants in Common Equity $ 4,528,560 $ 4,532,305

Nature of Operations - Addition

Nature of Operations - Additional Information (Details)	6 Months Ended
	Jun. 30, 2023 Property
Nature Of Operations [Line Items]
Entity incorporation date	Sep. 19, 2015
Number of properties owned	12
Number of partial interest properties	1
Operating Partnership
Nature Of Operations [Line Items]
Operating partnership formation month and year	2015-10
Operating Partnership | GIP REIT Op Limited LLC
Nature Of Operations [Line Items]
Ownership percentage	0.002%
Operating Partnership | Common Units
Nature Of Operations [Line Items]
Ownership percentage	90%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Schedule of Reconciliation of Cash and Cash Equivalents and Restricted Cash (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Cash and cash equivalents	$ 2,105,392	$ 3,718,496
Restricted cash	34,500	34,500
Cash and cash equivalents and restricted cash	$ 2,139,892	$ 3,752,996

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Summary Of Significant Accounting Policies [Line Items]
Prepaid rent	$ 232,550		$ 232,550		$ 271,189
Impairments	0	$ 0	0	$ 0
Liability for unrecognized tax benefits	$ 0		$ 0		$ 0
Buildings | Minimum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life	15 years		15 years
Buildings | Maximum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life	50 years		50 years
Tenant Improvements | Minimum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life	2 years		2 years
Tenant Improvements | Maximum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life	10 years		10 years
Site Improvements
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life	5 years		5 years

Investments in Real Estate - Ad

Investments in Real Estate - Additional Information (Details)	6 Months Ended
	Jun. 30, 2023 USD ($) ft² Tenant	Jun. 30, 2022 Tenant
Asset Acquisition [Line Items]
Number of tenants | Tenant	4	4
Fresenius-Chicago, I L
Asset Acquisition [Line Items]
Property acquired date	Jan. 07, 2022
Area of property | ft²	10,900
Number of tenants | Tenant	1
Asset acquisition through debt	$ 1,550,000
Starbucks-Tampa, F L
Asset Acquisition [Line Items]
Property acquired date	Jan. 14, 2022
Area of property | ft²	2,600
Cash capital contribution through issuance of redeemable non-controlling interest	$ 1,109,570
Asset acquisition through debt	$ 1,050,000
Kohl's-Tucson, A Z
Asset Acquisition [Line Items]
Property acquired date	Mar. 09, 2022
Area of property | ft²	88,400
Number of tenants | Tenant	1
Asset acquisition through debt	$ 3,650,000

Investments in Real Estate - Sc

Investments in Real Estate - Schedule of Acquired Properties (Details)	Jun. 30, 2023 USD ($)
Fresenius-Chicago, I L
Business Acquisition [Line Items]
Land	$ 1,690,837
Building and site improvements	1,217,395
Tenant improvements	55,041
Acquired lease intangible assets	276,013
Total real estate investments	3,239,286
Right of use asset	0
Less Acquired lease intangible liabilities	(19,864)
Less Right of use lease liability	0
Total real estate investments, net	3,219,422
Starbucks-Tampa, F L
Business Acquisition [Line Items]
Land	1,443,262
Building and site improvements	700,859
Tenant improvements	20,504
Acquired lease intangible assets	112,830
Total real estate investments	2,277,455
Right of use asset	0
Less Acquired lease intangible liabilities	(13,497)
Less Right of use lease liability	0
Total real estate investments, net	2,263,958
Kohl's-Tucson, A Z
Business Acquisition [Line Items]
Land	0
Building and site improvements	6,175,908
Tenant improvements	349,136
Acquired lease intangible assets	981,203
Total real estate investments	7,506,247
Right of use asset	6,304,334
Less Acquired lease intangible liabilities	(131,999)
Less Right of use lease liability	(6,304,334)
Total real estate investments, net	7,374,248
Property of Fresenius-Chicago, IL, Starbucks-Tampa, FL and Kohl's-Tucson, AZ
Business Acquisition [Line Items]
Land	3,134,099
Building and site improvements	8,094,162
Tenant improvements	424,681
Acquired lease intangible assets	1,370,046
Total real estate investments	13,022,988
Right of use asset	6,304,334
Less Acquired lease intangible liabilities	(165,360)
Less Right of use lease liability	(6,304,334)
Total real estate investments, net	$ 12,857,628

Acquired Lease Intangible Ass_3

Acquired Lease Intangible Assets, Net - Schedule of Intangible Assets, Net (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Acquired lease intangible assets	$ 4,387,526	$ 4,677,928
Accumulated amortization	(1,503,470)	(1,522,570)
Acquired lease intangible assets, net	$ 2,884,056	$ 3,155,358

Acquired Lease Intangible Ass_4

Acquired Lease Intangible Assets, Net - Schedule of Future Amortization for Intangible Assets (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Intangible Assets, Net (Excluding Goodwill) [Abstract]
2023 (6 months remaining)	$ 545,335
2024	530,506
2025	446,443
2026	426,512
2027	331,580
Thereafter	603,681
Acquired lease intangible assets, net	$ 2,884,056	$ 3,155,358

Acquired Lease Intangible Ass_5

Acquired Lease Intangible Assets, Net (Additional Information) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Indefinite-Lived Intangible Assets [Line Items]
Amortization of lease intangible assets	$ 135,739	$ 138,025	$ 271,302	$ 252,017

Acquired Lease Intangible Lia_3

Acquired Lease Intangible Liabilities, Net - Summary of Acquired Lease Intangible Liabilities (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Acquired lessor lease intangible liabilities	$ 880,468	$ 965,216
Accumulated accretion to Rental income	(387,099)	(369,858)
Acquired lessor lease intangible liabilities, net	493,369	595,358
Acquired lessee lease intangible liabilities	45,207	45,207
Accumulated amortization to offset Building expenses	(958)	(592)
Acquired lessee lease intangible liabilities, net	$ 44,249	$ 44,615

Acquired Lease Intangible Lia_4

Acquired Lease Intangible Liabilities, Net - Summary of Future Amortization for Intangible Liabilities (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Indefinite-Lived Intangible Assets [Line Items]
2023 (6 months remaining)	$ 52,594
2024	105,188
2025	105,188
2026	93,907
2027	93,907
Thereafter	42,585
Acquired lessor lease intangible liabilities, net	493,369	$ 595,358
Lessee [Member]
Indefinite-Lived Intangible Assets [Line Items]
2023 (6 months remaining)	366
2024	732
2025	732
2026	732
2027	732
Thereafter	40,955
Acquired lessor lease intangible liabilities, net	$ 44,249

Acquired lease intangible lia_5

Acquired lease intangible liabilities, net (Additional Information) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Indefinite-Lived Intangible Assets [Line Items]
Amortization of below-market leases	$ 75,875	$ 26,114	$ 101,989	$ 49,955
Lessee Member
Indefinite-Lived Intangible Assets [Line Items]
Amortization of below-market leases	$ 183	$ 183	$ 366	$ 226

Leases - Additional Information

Leases - Additional Information (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) Tenant	Jun. 30, 2022 USD ($) Tenant	Mar. 09, 2022 Property
Lessee Lease Description [Line Items]
Number of tenants | Tenant			4	4
Ground Lease
Lessee Lease Description [Line Items]
Number of properties acquired | Property					1
Lease expiration year			2084
Operating lease, expense	$ 93,762	$ 109,015	$ 187,524	$ 125,015
Variable lease expense			0
Right of use liability,net	$ 58,175	$ 58,176	$ 116,350	$ 72,563

Leases - Summary of Disaggregat

Leases - Summary of Disaggregation of Lease Income (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Fixed and in-substance fixed lease income	$ 1,149,170	$ 1,236,032	$ 2,353,094	$ 2,321,773
Variable lease income	79,822	86,101	159,643	157,354
Other related lease income, net:
Amortization of below-market leases	75,875	26,114	101,989	49,955
Straight line rent revenue	13,883	30,315	30,731	31,415
Total rental income	$ 1,318,750	$ 1,378,562	$ 2,645,457	$ 2,560,497

Leases - Summary of Concentrati

Leases - Summary of Concentration of Risk Percentage of Tenants (Details) - Revenue Benchmark [Member] - Customer Concentration Risk [Member]	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Norfolk, VA & Manteo, NC [Member] | General Services Administration [Member]
Product Information [Line Items]
Concentration risk, percentage	23%	21%
Norfolk, VA | P R A Holding [Member]
Product Information [Line Items]
Concentration risk, percentage	16%	15%
Pratt and Whitney - Huntsville, Alabama [Member] | Pratt And Whitney Corporation [Member]
Product Information [Line Items]
Concentration risk, percentage	15%	14%
Tuscon Arizona [Member] | Kohl's Corporation Member
Product Information [Line Items]
Concentration risk, percentage	17%	11%

Leases - Summary of Future Mini

Leases - Summary of Future Minimum Rental Payments Due to the Company (Details)	Jun. 30, 2023 USD ($)
Leases [Abstract]
2023 (6 months remaining)	$ 2,364,460
2024	4,157,539
2025	3,950,715
2026	3,828,728
2027	3,234,122
Thereafter	4,468,842
Lessor, Operating Lease, Payments to be Received, Total	$ 22,004,406

Leases - Summary of Future Mi_2

Leases - Summary of Future Minimum Rental Cash Payments Due and Undiscounted Future Cash Flows (Details) - USD ($)	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Lessee Lease Description [Line Items]
Lease liability, net	$ 6,365,937	$ 6,356,288
Ground Lease
Lessee Lease Description [Line Items]
2023 (6 months remaining)	116,350
2024	244,077
2025	245,111
2026	245,111
2027	245,111
Thereafter	21,820,644
Total undiscounted liability	22,916,404
Present value discount	(16,550,467)
Lease liability, net	$ 6,365,937
Discount rate	4.58%
Term Remaining	61 years

Redeemable Non-Controlling In_3

Redeemable Non-Controlling Interests - Summary of Redeemable Non-Controlling Interests (Details) - USD ($)	3 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022
Noncontrolling Interest [Line Items]
Redeemable Non-Controlling Interest, Balance	$ 6,326,737	$ 5,789,731	$ 10,260,329	$ 9,134,979
Balance		10,691,738		14,140,214
Issuance Of Redeemable Operating Partnership Units For Property Acquisition				1,109,570
Noncontrolling Interest, Increase from Subsidiary Equity Issuance		3,000,000
Distribution on Non-Controlling Interest	(126,998)	(115,817)	(118,556)	(115,303)
Redemption of Redeemable Non-Controlling Interest		(2,479,299)	(406,652)
Net income (loss) for the quarter	143,303	132,122	134,510	131,083
Redeemable Non-Controlling Interest, Balance	6,343,042	6,326,737	9,869,631	10,260,329
Balance	8,056,926
Non-Controlling Interest
Noncontrolling Interest [Line Items]
Redeemable Non-Controlling Interest, Balance	437,283	445,035	464,654	469,712
Balance	437,283	445,035	464,654	469,712
Issuance Of Redeemable Operating Partnership Units For Property Acquisition				0
Noncontrolling Interest, Increase from Subsidiary Equity Issuance		0
Distribution on Non-Controlling Interest	2,844	2,844	3,938	3,938
Redemption of Redeemable Non-Controlling Interest		0	0
Net income (loss) for the quarter	(14,238)	(4,908)	(4,329)	(1,120)
Redeemable Non-Controlling Interest, Balance	420,201	437,283	456,387	464,654
Balance	420,201	437,283	456,387	464,654
Brown Family Trust
Noncontrolling Interest [Line Items]
Redeemable Non-Controlling Interest, Balance	3,500,000	500,000	500,000	500,000
Issuance Of Redeemable Operating Partnership Units For Property Acquisition				0
Noncontrolling Interest, Increase from Subsidiary Equity Issuance		3,000,000
Distribution on Non-Controlling Interest	(63,606)	(46,346)	(11,260)	(11,260)
Redemption of Redeemable Non-Controlling Interest		0	0
Net income (loss) for the quarter	63,606	46,346	11,260	11,260
Redeemable Non-Controlling Interest, Balance	3,500,000	3,500,000	500,000	500,000
Irby Property Partners
Noncontrolling Interest [Line Items]
Redeemable Non-Controlling Interest, Balance	1,024,429	1,014,748	986,125	976,756
Issuance Of Redeemable Operating Partnership Units For Property Acquisition				0
Noncontrolling Interest, Increase from Subsidiary Equity Issuance		0
Distribution on Non-Controlling Interest	(19,000)	(19,000)	(19,000)	(19,001)
Redemption of Redeemable Non-Controlling Interest		0	0
Net income (loss) for the quarter	28,681	28,681	28,471	28,370
Redeemable Non-Controlling Interest, Balance	1,034,110	1,024,429	995,596	986,125
Richard Hornstrom
Noncontrolling Interest [Line Items]
Redeemable Non-Controlling Interest, Balance	692,738	686,114	666,383	659,972
Issuance Of Redeemable Operating Partnership Units For Property Acquisition				0
Noncontrolling Interest, Increase from Subsidiary Equity Issuance		0
Distribution on Non-Controlling Interest	(13,000)	(13,000)	(13,086)	(13,087)
Redemption of Redeemable Non-Controlling Interest		0	0
Net income (loss) for the quarter	19,624	19,624	19,569	19,498
Redeemable Non-Controlling Interest, Balance	699,362	692,738	672,866	666,383
LMB Owenton I LLC
Noncontrolling Interest [Line Items]
Redeemable Non-Controlling Interest, Balance	1,109,570	1,109,570	1,109,570	0
Issuance Of Redeemable Operating Partnership Units For Property Acquisition				1,109,570
Noncontrolling Interest, Increase from Subsidiary Equity Issuance		0
Distribution on Non-Controlling Interest	(18,157)	(18,135)	(17,975)	(15,269)
Redemption of Redeemable Non-Controlling Interest		0	0
Net income (loss) for the quarter	18,157	18,135	17,975	15,269
Redeemable Non-Controlling Interest, Balance	1,109,570	1,109,570	1,109,570	1,109,570
GIP LP
Noncontrolling Interest [Line Items]
Redeemable Non-Controlling Interest, Balance	0	2,479,299	6,998,251	6,998,251
Issuance Of Redeemable Operating Partnership Units For Property Acquisition				0
Noncontrolling Interest, Increase from Subsidiary Equity Issuance		0
Distribution on Non-Controlling Interest	(13,235)	(19,336)	(57,235)	(56,686)
Redemption of Redeemable Non-Controlling Interest		(2,479,299)	(406,652)
Net income (loss) for the quarter	13,235	19,336	57,235	56,686
Redeemable Non-Controlling Interest, Balance	$ 0	$ 0	$ 6,591,599	$ 6,998,251

Redeemable Non-Controlling In_4

Redeemable Non-Controlling Interests - Additional Information (Details)									3 Months Ended		6 Months Ended
	Feb. 08, 2023 USD ($) $ / shares shares	Aug. 09, 2022 USD ($)	Jan. 14, 2022 USD ($) Building $ / shares shares	Aug. 02, 2021 USD ($)	Apr. 21, 2021 USD ($)	Feb. 11, 2021 USD ($)	Nov. 30, 2020 USD ($) Building $ / shares shares	Sep. 30, 2019 USD ($) Entity Building Investor $ / shares shares	Jun. 30, 2023 USD ($) shares	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) shares	Jun. 30, 2022 USD ($)	Sep. 15, 2024 shares	Jun. 15, 2024 shares	Mar. 15, 2024 shares	Oct. 31, 2023 shares	Sep. 15, 2023 shares	Mar. 31, 2023 USD ($)	Mar. 15, 2023 shares	Mar. 08, 2023 USD ($)	Feb. 07, 2023 $ / shares	Jan. 27, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) shares	Sep. 30, 2022 $ / shares shares	Sep. 15, 2022 USD ($) $ / shares shares	Sep. 13, 2022 USD ($)	Jul. 20, 2022 $ / shares shares	Apr. 25, 2022 USD ($) $ / shares shares	Mar. 31, 2022 USD ($)	Mar. 21, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($)
Noncontrolling Interest [Line Items]
Noncontrolling interest, description											average 30-day market price of Generation Income Properties, Inc. common stock. GIP LP Units shall then be convertible into common stock of Generation Income Properties, Inc. on a 1:1 basis in accordance with the partnership agreement of the Operating Partnership. Additionally, the Operating Partnership has the right to redeem the preferred equity at redemption value with cash after the second year anniversary of the closing of the acquisition.
Redeemable noncontrolling interest redeemed									$ 6,343,042	$ 9,869,631	$ 6,343,042	$ 9,869,631						$ 6,326,737					$ 5,789,731						$ 10,260,329		$ 9,134,979
Redemption price discount average									15%		15%
Common stock, shares issued | shares									2,617,538		2,617,538												2,501,644
Other expense									$ 0	0	$ (506,000)	0
Outside Investor
Noncontrolling Interest [Line Items]
Ownership percentage											10%
GIP LP [Member]
Noncontrolling Interest [Line Items]
Ownership percentage											90%
Brown Family Trust
Noncontrolling Interest [Line Items]
Redeemable noncontrolling interest redeemed				$ 699,362	$ 1,034,110	$ 500,000			3,500,000	500,000	$ 3,500,000	500,000						3,500,000					$ 500,000						500,000		500,000
Irby Property Partners
Noncontrolling Interest [Line Items]
Redeemable noncontrolling interest redeemed									1,034,110	995,596	1,034,110	995,596						1,024,429					1,014,748						986,125		976,756
Richard Hornstrom
Noncontrolling Interest [Line Items]
Redeemable noncontrolling interest redeemed									699,362	$ 672,866	$ 699,362	$ 672,866						$ 692,738					$ 686,114						$ 666,383		$ 659,972
Common Stock [Member]
Noncontrolling Interest [Line Items]
Common stock, shares issued | shares																									200,000
Preferred Equity Agreement | Brown Family Trust
Noncontrolling Interest [Line Items]
Capital contribution received						$ 500,000
Noncontrolling interest, description											The Operating Partnership is the general manager of the subsidiary while Brown Family Trust is a preferred equity member. Pursuant to the agreement, the Company is required to pay the preferred equity member a 9% internal rate of return ("IRR") on a monthly basis. After 24 months, the Brown Family Trust has the right to redeem and the Operating Partnership has the right to call the preferred equity at redemption value.
Noncontrolling interest internal rate of return percentage paid on monthly basis						9%
Preferred Equity Agreement | Irby Property Partners | Preferred Equity Partners
Noncontrolling Interest [Line Items]
Capital contribution received					$ 950,000
Noncontrolling interest, description											Pursuant to the agreement, the Company is required to pay the preferred equity member a 12% total IRR of which 8% IRR is paid on a monthly basis and 4% IRR is deferred. After 24 months, Irby Prop Partners has the right to redeem the preferred equity at redemption value plus any deferred interest accrued and the Operating Partnership has the right to call the preferred equity at redemption value.
Noncontrolling interest internal rate of return percentage paid on monthly basis					8%
Noncontrolling interest total internal rate of return percentage					12%
Preferred Equity Agreement | Richard Hornstrom | Preferred Equity Partners
Noncontrolling Interest [Line Items]
Capital contribution received				$ 650,000
Noncontrolling interest, description											Pursuant to the agreement, the Company is required to pay the preferred equity member a 12% total IRR of which 8% IRR is paid on a monthly basis and 4% IRR is deferred.
Noncontrolling interest total internal rate of return percentage				12%
Preferred Equity Agreement | GIPVA 130 | Preferred Equity Partners
Noncontrolling Interest [Line Items]
Noncontrolling interest, description											The Operating Partnership is the general manager of the subsidiary while Brown Family Enterprises, LLC is a preferred equity member. Pursuant to the agreement, the Company is required to pay the preferred equity member a 7% IRR paid on a monthly basis and will share in 16% of the equity in each of the Virginia SPEs upon a capital transaction resulting in distributable proceeds. After 24 months, Brown Family Enterprises, LLC has the right to redeem the preferred equity at redemption value
Redeemable noncontrolling interest redeemed									$ 3,000,000		$ 3,000,000
Preferred Equity Agreement | Class A Preferred Units | GIPVA 130
Noncontrolling Interest [Line Items]
Capital contribution received	$ 1,200,000
Preferred Units Sold | shares	120,000
Preferred units issue price per share | $ / shares | $ / shares	$ 10
Preferred Equity Agreement | Class A Preferred Units | GIPVA 2510
Noncontrolling Interest [Line Items]
Capital contribution received	$ 1,800,000
Number of preferred units issued | shares	180,000
Preferred units issue price per share | $ / shares | $ / shares	$ 10
Contribution Agreement | Operating Partnership
Noncontrolling Interest [Line Items]
Issuance of Other payable - related party for redemption of Redeemable Non-Controlling Interest		$ 2,912,300
Number of entities | Entity								2
Number of common units issued | shares								349,913
Common units issue price per share | $ / shares								$ 20
Common units value issued								$ 6,998,251
First installment payment																				$ 325,000						$ 325,000
Number of investors required to redeem | Investor								2
Common units redemption price per share | $ / shares								$ 20														$ 20		$ 20	$ 20		$ 20	$ 20		$ 20
Total units issued | shares																180,615						123,965		129,365	16,250		25,000	10,166		10,166
Common units value redeemed																						$ 2,479,299			$ 325,000			$ 203,326		$ 203,326
Contribution Agreement | One Entity
Noncontrolling Interest [Line Items]
Number of common units issued | shares			110,957				24,309
Common units issue price per share | $ / shares			$ 10				$ 20
Common units value issued			$ 1,109,570				$ 486,180
Common units redemption price per share | $ / shares			$ 10
Contribution Agreement | One Entity | President
Noncontrolling Interest [Line Items]
Ownership percentage							11%
Contribution Agreement | Tranche One [Member] | Operating Partnership
Noncontrolling Interest [Line Items]
Total units issued | shares																			16,250
Contribution Agreement | Tranche Two [Member] | Operating Partnership
Noncontrolling Interest [Line Items]
Total units issued | shares																	22,623
Contribution Agreement | Tranche Three [Member] | Operating Partnership
Noncontrolling Interest [Line Items]
Total units issued | shares															22,623
Contribution Agreement | Tranche Four [Member] | Operating Partnership
Noncontrolling Interest [Line Items]
Total units issued | shares														22,623
Contribution Agreement | Tranche Five [Member] | Operating Partnership
Noncontrolling Interest [Line Items]
Total units issued | shares													22,623
Contribution Agreement | Common Stock [Member] | Operating Partnership
Noncontrolling Interest [Line Items]
Total units issued | shares																									60,000
Common stock, shares issued | shares																								200,000
Common stock issue price | $ / shares																								$ 6
Cocoa, FL | Preferred Equity Agreement | Brown Family Trust
Noncontrolling Interest [Line Items]
Acquisition of building						$ 1,737,800
Plant City, FL | Preferred Equity Agreement | Irby Property Partners | Preferred Equity Partners
Noncontrolling Interest [Line Items]
Capital contribution received					$ 1,757,300
Rockville, IL | Preferred Equity Agreement | Richard Hornstrom | Preferred Equity Partners
Noncontrolling Interest [Line Items]
Capital contribution received				$ 724,800
Norfolk, VA | Contribution Agreement | Operating Partnership
Noncontrolling Interest [Line Items]
Acquisition of building								$ 19,134,400
Number of buildings acquired | Building								2
Tampa, FL | Contribution Agreement | One Entity
Noncontrolling Interest [Line Items]
Acquisition of building			$ 2,264,000				$ 1,847,700
Number of buildings acquired | Building			1				1
Building In Gip LP | Contribution Agreement | One Entity
Noncontrolling Interest [Line Items]
Number of common units issued | shares									157,771		157,771
Common units redemption price per share | $ / shares																					$ 7.15
Common units value redeemed									$ 1,109,570		$ 1,109,570
Building In Gip LP | Operating Partnership [Member] | One Entity
Noncontrolling Interest [Line Items]
Number of common units issued | shares									44,228		44,228

Equity - Additional Information

Equity - Additional Information (Details)											1 Months Ended		3 Months Ended			6 Months Ended
	Dec. 08, 2022 $ / shares shares	Sep. 12, 2022 USD ($) $ / shares shares	Apr. 12, 2022 $ / shares shares	Jan. 14, 2022 USD ($) Building $ / shares shares	Jan. 06, 2022 $ / shares shares	Sep. 30, 2021 USD ($) $ / shares shares	Sep. 08, 2021 USD ($) shares	Nov. 30, 2020 USD ($) Building $ / shares shares	Nov. 13, 2020 USD ($) $ / shares shares	Apr. 25, 2019 USD ($) $ / shares shares	Apr. 30, 2022 shares	Mar. 31, 2022 USD ($) shares	Jun. 30, 2023 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) shares	Mar. 31, 2022 USD ($)	Jun. 30, 2023 USD ($) TradingDay $ / shares shares	Jun. 30, 2022 USD ($) shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 shares
Class Of Stock [Line Items]
Common stock, shares authorized													100,000,000			100,000,000		100,000,000
Issuance costs in additional paid in capital | $															$ 6,091
Undesignated preferred stock, shares authorized													10,000,000			10,000,000
Preferred stock, shares issued													0			0
Number of warrants to purchase common stock									1
Shares issued price per share | $ / shares						$ 10
Common warrants exercisable price per share | $ / shares									$ 20
Common warrants expiration term									7 years				3 years 2 months 12 days	4 years 2 months 12 days		3 years 2 months 12 days	4 years 2 months 12 days	3 years 8 months 12 days	4 years 8 months 12 days
Warrants outstanding													929,890	1,541,470		929,890	1,541,470	1,102,900	1,914,850
Intrinsic value of the warrants | $													$ 0	$ 0		$ 0	$ 0
Stock based compensation expense | $													$ 77,039	$ 124,118		$ 167,687	$ 218,044
Percentage of shares underlying warrants that may be exercised based on trading price																10%
Shares underlying warrants that may be exercised, number of trading days for calculation of trading price | TradingDay																10
Common stock issued upon exercise of warrants																50
Warrants to purchase shares of common stock													929,890	1,541,470		929,890	1,541,470
Additional paid-in capital | $													$ 18,870,576			$ 18,870,576		$ 19,307,518
Common Stock Par Value | $ / shares													$ 0.01			$ 0.01		$ 0.01
Issuance of common stock share																17,301
Deferred financing costs | $												$ 6,100		$ 87,000	$ 6,100		$ 87,000
Restricted Shares
Class Of Stock [Line Items]
Number of shares granted																98,593	47,499
2020 Omnibus Incentive Plan
Class Of Stock [Line Items]
Reserves shares of common stock													2,000,000			2,000,000
Number of shares granted																171,590
Director | Restricted Shares
Class Of Stock [Line Items]
Shares issued price per share | $ / shares	$ 5.68				$ 7
Number of shares granted	98,593				47,142							47,142
Vesting period	3 years				1 year
Non employee | Restricted Shares
Class Of Stock [Line Items]
Shares issued price per share | $ / shares			$ 7.06
Number of shares granted			357								357
Vesting period			1 year
Contribution Agreement | One Entity
Class Of Stock [Line Items]
Common units issue price per share | $ / shares				$ 10				$ 20
Number of common units issued				110,957				24,309
Common units value issued | $				$ 1,109,570				$ 486,180
Contribution Agreement | President | One Entity
Class Of Stock [Line Items]
Ownership percentage								11%
Contribution Agreement | Tampa, FL | One Entity
Class Of Stock [Line Items]
Number of buildings acquired | Building				1				1
Acquisition of building | $				$ 2,264,000				$ 1,847,700
Public Offering
Class Of Stock [Line Items]
Number of warrants to purchase common stock							1
Over-Allotment Option
Class Of Stock [Line Items]
Shares underlying warrants that may be exercised based on trading price, period after issuance																120 days
Percentage of shares underlying warrants that may be exercised based on trading price																10%
Shares underlying warrants that may be exercised, number of trading days for calculation of trading price | TradingDay																10
Class of warrants or right exercised																173,010	373,380
Common stock issued upon exercise of warrants																37,338
Over-Allotment Option | Maxim Group LLC
Class Of Stock [Line Items]
Common warrants exercisable price per share | $ / shares													$ 12.5			$ 12.5
Warrants to purchase shares of common stock													149,850			149,850
Percentage of number of shares of common stock sold in offering																9%
Warrants to purchase shares of common stock, expiration date													Sep. 02, 2026			Sep. 02, 2026
Redemption Agreement
Class Of Stock [Line Items]
Common stock issued		200,000
Shares issued price per share | $ / shares		$ 6
Additional paid-in capital | $		$ 1,198,000
Common Stock Par Value | $ / shares		$ 2,000
Common Stock Par Value $0.01 Per Share
Class Of Stock [Line Items]
Common stock issued amount | $									$ 1,000,000
Common stock issued									50,000
Shares issued price per share | $ / shares									$ 20
Common Stock Par Value $0.01 Per Share | Public Offering
Class Of Stock [Line Items]
Common stock issued							1,500,000
Common Stock Par Value $0.01 Per Share | Over-Allotment Option
Class Of Stock [Line Items]
Common stock issued amount | $						$ 13,800,000
Common stock issued						165,000
Treasury Stock | Public Offering | CEO
Class Of Stock [Line Items]
Redeemable shares of common stock							112,500
Redeemable shares of common stock, value | $							$ 100
Warrant [Member]
Class Of Stock [Line Items]
Common stock issued amount | $										$ 1,000,000
Common stock issued										50,000
Number of warrants to purchase common stock										1
Shares issued price per share | $ / shares										$ 20
Common warrants exercisable price per share | $ / shares										$ 20
Common warrants expiration term										7 years

Equity - Schedule of Warrants I

Equity - Schedule of Warrants Issued and Outstanding with Exercise Price (Details) - $ / shares	Sep. 30, 2021	Sep. 08, 2021	Nov. 13, 2020	Apr. 25, 2019	Jun. 30, 2023
Class Of Warrant Or Right [Line Items]
Issue Date			Nov. 13, 2020	Apr. 25, 2019
Exercise price			$ 20
Warrants Issued and Outstanding					929,890
Exercise Price of $10.00
Class Of Warrant Or Right [Line Items]
Issue Date	Sep. 30, 2021	Sep. 08, 2021
Exercise price	$ 10	$ 10
Warrants Issued and Outstanding	165,000	515,040
Exercise Price of $12.50
Class Of Warrant Or Right [Line Items]
Issue Date	Sep. 30, 2021	Sep. 08, 2021
Exercise price	$ 12.5	$ 12.5
Warrants Issued and Outstanding	14,850	135,000
Exercise Price of $20.00
Class Of Warrant Or Right [Line Items]
Exercise price			$ 20	$ 20
Warrants Issued and Outstanding			50,000	50,000

Equity - Summary of Warrants Ou

Equity - Summary of Warrants Outstanding (Details) - $ / shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Equity [Abstract]
Number of Warrants, Beginning balance	1,102,900	1,914,850
Number of Warrants, Exercised	(173,010)	(373,380)
Number of Warrants, Ending balance	929,890	1,541,470
Warrants exercisable	929,890	1,541,470
Weighted Average Price, Beginning balance	$ 11.25	$ 10.72
Weighted Average Price, Exercised	10	10
Weighted Average Price, Ending balance	11.48	10.89
Weighted Average Price, Warrants exercisable	$ 11.48	$ 10.89
Weighted Average Remaining Life, Beginning balance	3 years 8 months 12 days	4 years 8 months 12 days
Weighted Average Remaining Life, Ending balance	3 years 2 months 12 days	4 years 2 months 12 days
Weighted Average Remaining Life, Warrants exercisable	3 years 2 months 12 days	4 years 2 months 12 days

Equity - Schedule of Restricted

Equity - Schedule of Restricted Common Shares Issued (Details) - Restricted Shares - shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares Outstanding at beginning of the period	58,502	23,167
Restricted Shares Issued	98,593	47,499
Restricted Shares Vested	(46,213)	(10,500)
Number of Restricted Shares Outstanding at end of the period	110,882	60,166

Equity - Schedule of Cash Distr

Equity - Schedule of Cash Distributions (Details)	6 Months Ended
	Jun. 30, 2023 $ / shares
Dividend Tranche One
Dividends Payable [Line Items]
Board of Directors Authorized Date	Apr. 03, 2023
Record Date	Jun. 15, 2023
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.039
Dividend Tranche Two
Dividends Payable [Line Items]
Board of Directors Authorized Date	Apr. 03, 2023
Record Date	May 15, 2023
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.039
Dividend Tranche Three
Dividends Payable [Line Items]
Board of Directors Authorized Date	Apr. 03, 2023
Record Date	Apr. 15, 2023
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.039
Dividend Tranche Four
Dividends Payable [Line Items]
Board of Directors Authorized Date	Jan. 03, 2023
Record Date	Mar. 15, 2023
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.039
Dividend Tranche Five
Dividends Payable [Line Items]
Board of Directors Authorized Date	Jan. 03, 2023
Record Date	Feb. 15, 2023
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.039
Dividend Tranche Six
Dividends Payable [Line Items]
Board of Directors Authorized Date	Jan. 03, 2023
Record Date	Jan. 15, 2023
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.039
Dividend Tranche Seven
Dividends Payable [Line Items]
Board of Directors Authorized Date	Oct. 03, 2022
Record Date	Dec. 15, 2022
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.039
Dividend Tranche Eight
Dividends Payable [Line Items]
Board of Directors Authorized Date	Oct. 03, 2022
Record Date	Nov. 15, 2022
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.039
Dividend Tranche Nine
Dividends Payable [Line Items]
Board of Directors Authorized Date	Oct. 03, 2022
Record Date	Oct. 15, 2022
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.039
Dividend Tranche Ten
Dividends Payable [Line Items]
Board of Directors Authorized Date	Jun. 27, 2022
Record Date	Sep. 15, 2022
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.054
Dividend Tranche Eleven
Dividends Payable [Line Items]
Board of Directors Authorized Date	Jun. 27, 2022
Record Date	Aug. 15, 2022
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.054
Dividend Tranche Twelve [Member]
Dividends Payable [Line Items]
Board of Directors Authorized Date	Jun. 27, 2022
Record Date	Jul. 15, 2022
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.054
Dividend Tranche Thirteen [Member]
Dividends Payable [Line Items]
Board of Directors Authorized Date	Mar. 15, 2022
Record Date	Jun. 15, 2022
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.054
Dividend Tranche Fourteen [Member]
Dividends Payable [Line Items]
Board of Directors Authorized Date	Mar. 15, 2022
Record Date	May 15, 2022
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.054
Dividend Tranche Fifteen [Member]
Dividends Payable [Line Items]
Board of Directors Authorized Date	Mar. 15, 2022
Record Date	Apr. 15, 2022
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.054
Dividend Tranche Sixteen [Member]
Dividends Payable [Line Items]
Board of Directors Authorized Date	Dec. 10, 2021
Record Date	Mar. 15, 2022
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.054
Dividend Tranche Seventeen [Member]
Dividends Payable [Line Items]
Board of Directors Authorized Date	Dec. 10, 2021
Record Date	Feb. 15, 2022
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.054
Dividend Tranche Eighteen [Member]
Dividends Payable [Line Items]
Board of Directors Authorized Date	Dec. 10, 2021
Record Date	Jan. 15, 2022
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.054

Mortgage Loans - Schedule of Pr

Mortgage Loans - Schedule of Promissory Notes (Details) - USD ($)			1 Months Ended	6 Months Ended
		Apr. 01, 2022	Apr. 30, 2022	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022
Debt Instrument [Line Items]
Long-term debt, gross				$ 39,380,799
Less: debt issuance costs, net						$ (87,000)	$ (6,100)
Promissory Notes
Debt Instrument [Line Items]
Interest Rate		3.85%	2.50%
Mortgages [Member]
Debt Instrument [Line Items]
Promissory note issued amount				37,450,913
Long-term debt, gross				35,618,499	$ 35,951,259
Less: debt issuance costs, net				(659,651)	(717,381)
Long-term debt				34,958,848	35,233,878
Mortgages [Member] | 7-11 - Washington, DC; Starbucks-South Tampa, FL; and Pratt & Whitney-Hunstville, Alabama
Debt Instrument [Line Items]
Promissory note issued amount	[1]			$ 11,287,500
Interest Rate				4.17%
Maturity Date				Mar. 06, 2030
DSCR Required				1.25%
Long-term debt, gross				$ 10,857,962	10,957,829
Mortgages [Member] | GSA-Navy & Maersk - Norfolk, Virginia
Debt Instrument [Line Items]
Promissory note issued amount				$ 8,260,000
Interest Rate				3.50%
Maturity Date				Sep. 30, 2024
DSCR Required				1.25%
Long-term debt, gross				$ 7,472,367	7,578,304
Mortgages [Member] | PRA Holdings, Inc. - Norfolk, Virginia
Debt Instrument [Line Items]
Promissory note issued amount				$ 5,216,749
Interest Rate				3.50%
Maturity Date				Oct. 23, 2024
DSCR Required				1.25%
Long-term debt, gross				$ 4,646,391	4,728,462
Mortgages [Member] | Sherwin-Williams - Tampa, Florida
Debt Instrument [Line Items]
Promissory note issued amount				$ 1,286,664
Interest Rate	[2]			3.72%
Maturity Date				Aug. 10, 2028
DSCR Required				1.20%
Long-term debt, gross				$ 1,286,664	1,286,664
Mortgages [Member] | GSA-FBI - Manteo, North Carolina
Debt Instrument [Line Items]
Promissory note issued amount	[3]			$ 928,728
Interest Rate	[4]			3.85%
Maturity Date				Mar. 31, 2032
DSCR Required				1.50%
Long-term debt, gross				$ 925,071	928,728
Mortgages [Member] | Irby Construction - Plant City , Florida
Debt Instrument [Line Items]
Promissory note issued amount	[3]			$ 928,728
Interest Rate	[4]			3.85%
Maturity Date				Mar. 31, 2032
DSCR Required				1.50%
Long-term debt, gross				$ 925,071	928,728
Mortgages [Member] | Best Buy - Grand Junction, Colorado
Debt Instrument [Line Items]
Promissory note issued amount	[3]			$ 2,552,644
Interest Rate	[4]			3.85%
Maturity Date				Mar. 31, 2032
DSCR Required				1.50%
Long-term debt, gross				$ 2,542,594	2,552,644
Mortgages [Member] | Fresenius - Chicago, Illinois
Debt Instrument [Line Items]
Promissory note issued amount	[3]			$ 1,727,108
Interest Rate	[4]			3.85%
Maturity Date				Mar. 31, 2032
DSCR Required				1.50%
Long-term debt, gross				$ 1,720,308	1,727,108
Mortgages [Member] | Starbucks - North Tampa, Florida
Debt Instrument [Line Items]
Promissory note issued amount	[3]			$ 1,298,047
Interest Rate	[4]			3.85%
Maturity Date				Mar. 31, 2032
DSCR Required				1.50%
Long-term debt, gross				$ 1,292,936	1,298,047
Mortgages [Member] | Kohls @ Tucson, Arizona
Debt Instrument [Line Items]
Promissory note issued amount	[3]			$ 3,964,745
Interest Rate	[4]			3.85%
Maturity Date				Mar. 31, 2032
DSCR Required				1.50%
Long-term debt, gross				$ 3,949,135	$ 3,964,745
[1] (a) Loan subject to prepayment penalty (b) Fixed via interest rate swap (c) One loan in the amount of $ 11.4 million secured by six properties and allocated to each property based on each property's appraised value. (d) Adjustment effective April 1, 2027 equal to 5-year Treasury plus 2.5 % and subject to a floor of 3.85 %

Mortgage Loans - Schedule of _2

Mortgage Loans - Schedule of Promissory Notes (Parenthetical) (Details)		1 Months Ended
	Apr. 01, 2022 USD ($)	Apr. 30, 2022	Jun. 30, 2023 USD ($) Property	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Secured debt			$ 34,958,848	$ 35,233,878
Loan Agreements
Debt Instrument [Line Items]
Secured debt			$ 11,400,000
Number of encumbered properties | Property			6
Debt instrument, fixed interest rate			2.50%
Debt instrument, subject to a floor interest rate			3.85%
Promissory Notes
Debt Instrument [Line Items]
Interest rate	3.85%	2.50%
Secured debt	$ 2,100,000

Mortgage Loans- Additional Info

Mortgage Loans- Additional Information (Details)					1 Months Ended			3 Months Ended			6 Months Ended
	Aug. 09, 2022 USD ($)	Jul. 20, 2022 USD ($)	May 09, 2022 USD ($)	Apr. 01, 2022 USD ($) Loan	May 31, 2022	Apr. 30, 2022	Oct. 31, 2021	Jun. 30, 2023 USD ($) Property	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Jun. 30, 2023 USD ($) Property	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Oct. 14, 2022 USD ($)	Sep. 13, 2022 USD ($)	Jan. 14, 2022 Property
Debt Instrument [Line Items]
Amortization of debt issuance costs											$ 57,730	$ 61,606
Payments of debt issuance costs											0	354,432
Long-term debt, gross								$ 39,380,799			39,380,799
Due To Other Related Parties Noncurrent Agreement								2,262,300			2,262,300
Secured debt								34,958,848			34,958,848		$ 35,233,878
Number Of Mortage Loan | Loan				1
Loss on debt extinguishment								0	$ 144,029		0	144,029
Loan Agreements
Debt Instrument [Line Items]
Secured debt								$ 11,400,000			$ 11,400,000
Number of encumbered properties | Property								6			6
Debt Instrument, Interest Rate, Stated Percentage								2.50%			2.50%
Debt instrument, subject to a floor interest rate								3.85%			3.85%
Promissory Notes
Debt Instrument [Line Items]
Amortization of debt issuance costs								$ 28,865	27,933		$ 57,730	61,606
Payments of debt issuance costs									$ 275,554			354,432
Secured debt				$ 2,100,000
Loan Secured by Properties | Property																6
Number Of Mortage Loan | Loan				1
Number Of Refinanceing Properties | Property								7			7
Interest rate				3.85%		2.50%
Loan to value ratio								54%			54%
Promissory Notes | Commitment Letter
Debt Instrument [Line Items]
Effective Contingent Future Capital Raise								$ 25,000,000			$ 25,000,000
Promissory Notes | American Momentum Bank | Minimum
Debt Instrument [Line Items]
Line Of Credit Facility Amount Available To Borrow			$ 25,000,000
Promissory Notes | American Momentum Bank | Maximum | Commitment Letter
Debt Instrument [Line Items]
Line Of Credit Facility Amount Available To Borrow			$ 50,000,000
Promissory Notes | DC/Tampa/Huntsville Loan
Debt Instrument [Line Items]
Secured debt								10,900,000			10,900,000
Promissory Notes | Tampa Sherwin Williams Property
Debt Instrument [Line Items]
Secured debt								1,300,000			1,300,000
Promissory Notes | Bayport Loans
Debt Instrument [Line Items]
Secured debt								12,118,758			12,118,758
Other Payable Related Party Member
Debt Instrument [Line Items]
Long-term debt, gross								2,262,300			2,262,300
Due To Other Related Parties Noncurrent Agreement								2,262,300			2,262,300
Brown Family Enterprises LLC [Member]
Debt Instrument [Line Items]
secured non-convertible promissory note														$ 1,500,000
Interest Rate on Debt Instrument														9%
Brown Family Enterprises LLC [Member] | Promissory Notes
Debt Instrument [Line Items]
Interest Rate on Debt Instrument														9%
President And CEO [Member]
Debt Instrument [Line Items]
Guaranty fee expense								55,652		$ 0	116,145	$ 0
Redemption Agreement [Member]
Debt Instrument [Line Items]
Issuance of Other payable - related party for redemption of Redeemable Non-Controlling Interest		$ 2,912,299
Installment Paid For Issuance Of Other Payable Related Party For Redemption Of Redeemable Non Controlling Interest															$ 325,000
Redemption Agreement [Member] | Promissory Notes
Debt Instrument [Line Items]
Issuance of Other payable - related party for redemption of Redeemable Non-Controlling Interest	$ 2,912,300
Installment Paid For Issuance Of Other Payable Related Party For Redemption Of Redeemable Non Controlling Interest															$ 325,000
Two Mortgage Loan Agreements [Member] | Promissory Notes
Debt Instrument [Line Items]
Secured debt				$ 11,400,000				$ 13,500,000			$ 13,500,000
Margin Rate [Member] | Promissory Notes | Commitment Letter
Debt Instrument [Line Items]
Interest rate							2.40%
Interest Rate Floor [Member] | Promissory Notes
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate During Period				3.85%
Interest Rate Floor [Member] | Promissory Notes | Commitment Letter
Debt Instrument [Line Items]
Interest rate					3.25%

Mortgage Loans - Schedule of Mi

Mortgage Loans - Schedule of Minimum Required Principal Payments (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
2023 (6 months remaining)	$ 905,224
2024	15,736,930
2025	546,280
2026	568,514
2027	591,656
Thereafter	21,032,195
Long-term debt, gross	39,380,799
Mortgages [Member]
Debt Instrument [Line Items]
2023 (6 months remaining)	452,764
2024	12,427,090
2025	546,280
2026	568,514
2027	591,656
Thereafter	21,032,195
Long-term debt, gross	35,618,499	$ 35,951,259
Other Payable Related Party Member
Debt Instrument [Line Items]
2023 (6 months remaining)	452,460
2024	1,809,840
2025	0
2026	0
2027	0
Thereafter	0
Long-term debt, gross	2,262,300
Loan Payable Related Party Member
Debt Instrument [Line Items]
2023 (6 months remaining)	0
2024	1,500,000
2025	0
2026	0
2027	0
Thereafter	0
Long-term debt, gross	$ 1,500,000

Related Party - Additional Info

Related Party - Additional Information (Details)	Jul. 20, 2022 USD ($)	Nov. 30, 2020 USD ($) ft² $ / shares shares	Jun. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Oct. 14, 2022 USD ($)	Sep. 13, 2022 USD ($)
Related Party Transaction [Line Items]
Common Stock, Shares, Issued | shares			2,617,538	2,501,644
Other payable - related party			$ 2,262,300
Common stock, par value | $ / shares			$ 0.01	$ 0.01
Additional paid-in capital			$ 18,870,576	$ 19,307,518
Brown Family Enterprises, LLC
Related Party Transaction [Line Items]
Secured Non Convertible Promissory Note					$ 1,500,000
Interest rate on debt instrument					9%
Redemption Agreement [Member]
Related Party Transaction [Line Items]
Common Stock, Shares, Issued | shares			200,000
Issuance of Other payable - related party for redemption of Redeemable Non-Controlling Interest	$ 2,912,299
First installment payment						$ 325,000
Common stock, par value | $ / shares			$ 6
Additional paid-in capital			$ 1,198,000
Common Stock | Redemption Agreement [Member]
Related Party Transaction [Line Items]
Common stock, par value | $ / shares			$ 2,000
GIP fund 1, LLC
Related Party Transaction [Line Items]
Ownership percentage			0.09%
GIP fund 1, LLC | Building In Tampa FL
Related Party Transaction [Line Items]
Area of property | ft²		3,500
Acquisition of building		$ 1,800,000
Debt financing		$ 1,300,000
Number of common units issued | shares		24,309
Common units issue price per share | $ / shares		$ 20
Common Unit, Issued | shares		24,309
GIP fund 1, LLC | President | Building In Tampa FL
Related Party Transaction [Line Items]
Percentage of ownership owned		11%

Tenancy-in-Common Investment -

Tenancy-in-Common Investment - Additional Information (Details)			6 Months Ended
	Apr. 01, 2022 USD ($)	Aug. 13, 2021 USD ($) ft² Tenant	Jun. 30, 2023 USD ($) Tenant	Jun. 30, 2022 Tenant
Tenant In Common Investment [Line Items]
Number of tenants | Tenant			4	4
Debt service coverage ratios	1.50%
Interest Rate Floor
Tenant In Common Investment [Line Items]
Interest rate	3.85%
Treasury Plus
Tenant In Common Investment [Line Items]
Interest rate	2.50%
Debt refinanced
Tenant In Common Investment [Line Items]
Debt outstanding after refinanced	$ 2,100,000
Interest rate	3.85%
Short Term Debt Refinanced, Description	Effective April 1, 2027, the interest rate adjusts to the 5-year Treasury plus 2.5% and subject to a floor of 3.85%.
Rockford, IL
Tenant In Common Investment [Line Items]
Area of property | ft²		15,288
Number of tenants | Tenant		1
Asset acquisition, total consideration costs		$ 4,500,000
Asset acquisition with redeemable non controlling interest contribution		650,000
Debt financing		2,700,000
Redeemable noncontrolling interest, equity, common, fair value		600,000
Redeemable noncontrolling interest, equity, fair value		$ 950,000
Equity method investments			$ 1,247,679
Tenancy In Common
Tenant In Common Investment [Line Items]
Ownership percentage	50%
Contribution for ownership	$ 455,888
Debt service coverage ratio description	The promissory note requires the TIC to maintain a debt service coverage ratio of 1.50:1:00 in addition to a 54% loan to value ratio.
Sunny Ridge
Tenant In Common Investment [Line Items]
Ownership percentage	50%
Sunny Ridge | Rockford, IL
Tenant In Common Investment [Line Items]
Ownership percentage		36.80%
Remainder of purchase price of property funded		$ 1,200,000
Sunny Ridge | Rockford, IL | Richard Hornstrom
Tenant In Common Investment [Line Items]
Ownership percentage		50%

Tenancy-in-Common Investment _2

Tenancy-in-Common Investment - Condensed Income Statement of Tenant in Common Investment (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Tenant in Common Investment [Line Items]
Revenue	$ 1,328,878	$ 1,379,103	$ 2,665,917	$ 2,561,038
General, administrative and organizational costs	358,989	472,736	703,136	814,416
Building expenses	320,255	325,201	633,855	578,592
Depreciation and amortization	558,001	558,676	1,115,551	989,569
Interest expense, net	(466,751)	(375,627)	(935,961)	(705,921)
Total expenses	1,986,715	2,042,938	4,022,509	3,678,938
Operating loss	(657,837)	(663,835)	(1,356,592)	(1,117,900)
Loss on debt extinguishment	0	(144,029)	0	(144,029)
Net loss	(752,397)	(916,697)	(1,942,750)	(1,362,210)
GIP, LP's Share	(881,462)	(1,046,878)	(2,199,029)	(1,622,354)
Tenancy In Common
Tenant in Common Investment [Line Items]
Revenue	100,731	93,139	193,870	186,278
Total expenses	70,714	64,213	135,049	134,137
Operating loss	30,017	28,926	58,821	52,141
Loss on debt extinguishment	0	(31,151)	0	(31,851)
Net income	30,017	(2,925)	58,821	20,290
GIP, LP's Share	$ 15,009	$ (1,462)	$ 29,411	$ 7,090

Tenancy-in-Common Investment _3

Tenancy-in-Common Investment - Condensed Balance Sheets of Tenant in Common Investment (Details) - USD ($)	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022
Real Estate Investment Property, Net [Abstract]
Land	$ 12,577,544		$ 12,577,544
Building and site improvements	39,772,590		39,764,890
Acquired lease intangible assets	4,387,526		4,677,928
Less: accumulated depreciation and amortization	(6,441,616)		(5,623,318)
Deferred rent asset	319,528		288,797
Prepaid expenses	533,446		132,642
Total Assets	62,045,086		64,210,095
Liabilities [Abstract]
Prepaid rent	232,550		271,189
Acquired lease intangible liability, net	6,365,937		6,356,288
Mortgage loan, net of unamortized debt issuance costs	34,958,848		35,233,878
Total liabilities	47,224,917		47,283,591
Tenant in Common Equity
Equity, Including Portion Attributable to Noncontrolling Interest	8,477,127	$ 9,604,623	11,136,773	$ 12,038,435	$ 13,312,716
Total Liabilities and Stockholders' Equity	62,045,086		64,210,095
Equity	8,477,127	$ 9,604,623	11,136,773	$ 12,038,435	$ 13,312,716
Tenancy In Common
Real Estate Investment Property, Net [Abstract]
Net real estate investments	4,444,112		4,503,120
Deferred rent asset	6,395		7,132
Prepaid expenses	1,318		343
Due from related party	76,735		21,710
Total Assets	4,528,560		4,532,305
Liabilities [Abstract]
Accounts payable and accrued expenses	7,379		6,738
Prepaid rent	26,681		30,550
Acquired lease intangible liability, net	31,845		35,561
Mortgage loan, net of unamortized debt issuance costs	2,080,490		2,088,116
Total liabilities	2,146,395		2,160,965
Tenant in Common Equity
Equity, Including Portion Attributable to Noncontrolling Interest	2,382,165		2,371,340
Total Liabilities and Stockholders' Equity	4,528,560		4,532,305
Equity	2,382,165		2,371,340
Tenancy In Common | GIP Inc.
Tenant in Common Equity
Equity, Including Portion Attributable to Noncontrolling Interest	1,247,679		1,218,268
Equity	1,247,679		1,218,268
Tenancy In Common | Sunny Ridge
Tenant in Common Equity
Equity, Including Portion Attributable to Noncontrolling Interest	1,134,486		1,153,072
Equity	$ 1,134,486		$ 1,153,072

Subsequent Events - Additional

Subsequent Events - Additional Information (Details)				6 Months Ended
	Aug. 10, 2023 USD ($) Property $ / shares shares	Jul. 21, 2023 USD ($)	Jul. 03, 2023 $ / shares	Jun. 30, 2023 USD ($) Property TradingDay Tenant shares	Jun. 30, 2022 USD ($) Tenant	Mar. 15, 2024 $ / shares shares	Dec. 31, 2022 USD ($)
Subsequent Event [Line Items]
Number Of Tenants | Tenant				4	4
Investor warrants exercised | shares				500
Percentage of shares underlying warrants that may be exercised based on trading price				10%
Shares underlying warrants that may be exercised, number of trading days for calculation of trading price | TradingDay				10
Common stock issued upon exercise of warrants | shares				50
Number of real estate properties purchased | Property				12
Mortgage loan, net of unamortized debt issuance costs				$ 34,958,848			$ 35,233,878
Payments to noncontrolling interests				$ 248,503	$ 241,735
Description of rights upon the company voluntary				As set forth in the Articles Supplementary, the Series A Preferred Stock ranks, with respect to dividend rights and rights upon the Company’s voluntary or involuntary liquidation, dissolution or winding up, senior to all classes or series of the Company’s common stock, par value $ 0.01 per share (the “Common Stock”). Holders of Series A Preferred Stock, when, as and if authorized by the Company’s board of directors and declared by the Company out of funds legally available for the payment of dividends, are entitled to cumulative cash dividends at the rate of 9.5 % per annum of the $ 5.00 liquidation preference per share, equivalent to a fixed annual amount of $ 0.475 per share, which shall increase to a rate of 12.0% of the $5.00 liquidation preference per share per annum, equivalent to a fixed annual amount of $ 0.60 per share, beginning on September 15, 2024. Dividends are payable monthly in arrears on or about the 15th day of each month, beginning on September 15, 2023.
Dividend Tranche One
Subsequent Event [Line Items]
Board of Directors Authorized Date				Apr. 03, 2023
Record Date				Jun. 15, 2023
Dividend Tranche Two
Subsequent Event [Line Items]
Board of Directors Authorized Date				Apr. 03, 2023
Record Date				May 15, 2023
Dividends payable, date to be paid			Aug. 31, 2023
Dividend Tranche Three
Subsequent Event [Line Items]
Board of Directors Authorized Date				Apr. 03, 2023
Record Date				Apr. 15, 2023
Dividend Tranche Four
Subsequent Event [Line Items]
Board of Directors Authorized Date				Jan. 03, 2023
Record Date				Mar. 15, 2023
Dividend Tranche Five
Subsequent Event [Line Items]
Board of Directors Authorized Date				Jan. 03, 2023
Record Date				Feb. 15, 2023
Amended and Restated LLC Agreement
Subsequent Event [Line Items]
Investment interest rate	15.50%
Redeemable noncontrolling interest, equity, fair value	$ 2.1
Subsequent Events
Subsequent Event [Line Items]
Mortgage loan, net of unamortized debt issuance costs	21,000,000
Issuance of preferred equity pursuant	$ 12,000,000
Liquidation preference per share | $ / shares						$ 5
60- Day volume weighted average price						110%
Subsequent Events | Minimum
Subsequent Event [Line Items]
Common Stock that shall be required to redeem | shares						2,200,000
Subsequent Events | Maximum
Subsequent Event [Line Items]
Common Stock that shall be required to redeem | shares						3,000,000
Subsequent Events | Dividend Tranche One
Subsequent Event [Line Items]
Dividends payable, amount per share | $ / shares			$ 0.039
Record Date			Jul. 15, 2023
Dividends payable, date to be paid			Jul. 31, 2023
Subsequent Events | Dividend Tranche Two
Subsequent Event [Line Items]
Record Date			Aug. 15, 2023
Subsequent Events | Dividend Tranche Three
Subsequent Event [Line Items]
Record Date			Sep. 15, 2023
Dividends payable, date to be paid			Sep. 30, 2023
Subsequent Events | Maryland corporation inc.
Subsequent Event [Line Items]
Number of real estate properties purchased | Property	13
Asset Acquisition, Price of Acquisition, Expected	$ 42,000,000
Preferred stock par value | $ / shares	$ 0.01
Cash to fund asset acquisition	$ 30,000,000
Issuable of preferred stock convertible shares | shares	2,400,000
Subsequent Events | Purchase and Sale Agreement
Subsequent Event [Line Items]
Estimated transaction costs and expenses	$ 1,600,000
Subsequent Events | Amended and Restated LLC Agreement
Subsequent Event [Line Items]
Increased preferred rate of return	18%
Percentage of equity fees	1%
Percentage of equity fees repayment	5%
Processed of preferred equity interest	$ 12,000,000
Investment interest rate	10.50%
Subsequent Events | Amended and Restated LLC Agreement | Monthly Basis [Member]
Subsequent Event [Line Items]
Investment interest rate	5%
Subsequent Events | Valley National Bank (the “Lender”)
Subsequent Event [Line Items]
Secured loan	$ 21,000,000
Maturity Date	Aug. 10, 2028
Payment obligations under promissory notes	$ 7,500,000
Interest rate on debt instrument	7.47%
Subsequent Events | Valley National Bank (the “Lender”) | SOFR
Subsequent Event [Line Items]
Interest rate on debt instrument	3.25%
Subsequent Events | Brown Family Enterprises, LLC
Subsequent Event [Line Items]
Maturity date of secured promissory note starting		Oct. 14, 2024
Maturity date secured promissory note ending		Oct. 14, 2026
Payments to noncontrolling interests	$ 500,000
Deferred distribution	1,250
Subsequent Events | Brown Family Enterprises, LLC | Minimum
Subsequent Event [Line Items]
Increase in the amount of the Loan and Note		$ 1,500,000
Subsequent Events | Brown Family Enterprises, LLC | Maximum
Subsequent Event [Line Items]
Increase in the amount of the Loan and Note		$ 5,500,000
Subsequent Events | Irby Prop Partners
Subsequent Event [Line Items]
Payments to noncontrolling interests	950,000
Deferred distribution	90,070
Subsequent Events | Richard Hornstrom
Subsequent Event [Line Items]
Payments to noncontrolling interests	650,000
Deferred distribution	$ 57,780
Subsequent Events | Articles supplementary
Subsequent Event [Line Items]
Preferred stock dividend payable increase | $ / shares	$ 0.6
Preferred stock dividend payable | $ / shares	$ 0.475
Redeemable preferred stock conversion shares | shares	2,400,000
Preferred stock par value | $ / shares	$ 0.01
Investment interest rate	9.50%
Issuable of preferred stock convertible shares | shares	2,400,000
Liquidation preference per share | $ / shares	$ 5
Dividend Paid | $ / shares						$ 0.039