Generation Income Properties (GIPR) 10-Q14 Nov 242024 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2024	Nov. 01, 2024
Document And Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
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		5,423,188
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 ($)	Sep. 30, 2024	Dec. 31, 2023
Investment in real estate
Land	$ 23,268,037	$ 21,996,902
Building and site improvements	67,618,615	71,621,499
Acquired tenant improvements	2,380,920	2,072,205
Acquired lease intangible assets	10,501,756	10,571,331
Less: accumulated depreciation and amortization	(11,070,036)	(8,855,332)
Net real estate investments	92,699,292	97,406,605
Cash and cash equivalents	1,547,110	3,117,446
Restricted cash	34,500	34,500
Deferred rent asset	435,767	1,106,191
Prepaid expenses	270,626	139,941
Accounts receivable	164,549	241,166
Escrow deposit and other assets	982,637	493,393
Held for sale assets	5,750,250	0
Right of use asset, net	6,088,025	6,152,174
Total Assets	107,972,756	108,691,416
Liabilities
Accounts payable	79,297	406,772
Accrued expenses	1,383,743	688,146
Accrued expense - related party	683,347	683,347
Acquired lease intangible liabilities, net	1,026,681	1,016,260
Insurance payable	150,450	34,966
Deferred rent liability	155,968	260,942
Lease liability, net	6,452,484	6,415,041
Other payable - related party	452,460	1,809,840
Loan payable - related party	5,500,000	5,500,000
Secured Debt	58,551,152	56,817,310
Derivative liabilities	809,339	537,424
Total liabilities	75,244,921	74,170,048
Redeemable Non-Controlling Interests	26,135,796	18,812,423
Preferred Stock - Series A Redeemable Preferred stock, net,
Preferred Stock $0.01 par value, 2,400,000 shares authorized, no shares issued or outstanding as of September 30, 2024 and 2,400,000 shares issued and outstanding at December 31, 2023 with liquidation preferences of $5 per share	0	11,637,616
Stockholders' Equity
Common stock, $0.01 par value, 100,000,000 shares authorized; 5,419,855 and 2,620,707 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively	54,232	26,207
Additional paid-in capital	29,129,543	18,472,049
Accumulated deficit	(22,984,596)	(14,833,058)
Total Generation Income Properties, Inc. Stockholders' Equity	6,199,179	3,665,198
Non-Controlling Interest	392,861	406,131
Total equity	6,592,040	4,071,329
Total Liabilities and Equity	$ 107,972,756	$ 108,691,416

Consolidated Balance Sheets (un

Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Mortgage loans, net of unamortized discount	$ 1,156,620	$ 1,326,362
Redeemable preferred stock, par value	$ 0.01	$ 0.01
Redeemable preferred stock, shares authorized	2,400,000	2,400,000
Redeemable preferred stock, liquidation preference per share		$ 5
Redeemable preferred stock, shares issued	0	2,400,000
Redeemable preferred stock, shares Outstanding	0	2,400,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	5,419,855	2,620,707
Common stock, shares outstanding	5,419,855	2,620,707

Consolidated Statements of Oper

Consolidated Statements of Operations (unaudited) - USD ($)	3 Months Ended		9 Months Ended
Consolidated Statements of Operations (unaudited) - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue
Total revenue	$ 2,400,282	$ 1,844,148	$ 7,092,690	$ 4,510,065
Expenses
General and administrative expense	577,565	530,538	1,632,018	1,233,674
Building expenses	729,062	431,359	2,067,356	1,065,214
Depreciation and amortization	1,068,081	981,419	3,474,918	2,096,970
Interest expense, net	1,098,608	770,624	3,142,489	1,706,585
Compensation costs	296,399	346,196	816,605	980,202
Total expenses	3,769,715	3,060,136	11,133,386	7,082,645
Operating loss	(1,369,433)	(1,215,988)	(4,040,696)	(2,572,580)
Other expense	0	(639)	0	(506,639)
Loss on derivative valuation	(734,116)	0	(308,570)	0
Income on investment in tenancy-in-common	0	3,362	0	32,773
Dead deal expense	0	0	(35,873)	(109,569)
Loss on held for sale asset valuation	0	0	(1,058,994)	0
Net loss	(2,103,549)	(1,213,265)	(5,444,133)	(3,156,015)
Less: Net income attributable to non-controlling interest	866,047	425,637	2,612,405	681,916
Net loss attributable to Generation Income Properties, Inc.	(2,969,596)	(1,638,902)	(8,056,538)	(3,837,931)
Less: Preferred stock dividends	0	190,000	95,000	190,000
Net loss attributable to common shareholders	(2,969,596)	(1,828,902)	(8,151,538)	(4,027,931)
Gain on change in fair value of derivative instrument	0	78,969	0	78,969
Comprehensive loss attributable to common shareholders	$ (2,969,596)	$ (1,749,933)	$ (8,151,538)	$ (3,948,962)
Total Weighted Average Shares of Common Stock Outstanding – Basic	5,433,833	2,618,077	5,083,640	2,591,956
Total Weighted Average Shares of Common Stock Outstanding – Diluted	5,433,833	2,618,077	5,083,640	2,591,956
Basic Loss Per Share Attributable to Common Stockholders	$ (0.55)	$ (0.7)	$ (1.6)	$ (1.55)
Diluted Loss Per Share Attributable to Common Stockholders	$ (0.55)	$ (0.7)	$ (1.6)	$ (1.55)
Rental Income
Revenue
Total revenue	$ 2,326,980	$ 1,841,044	$ 6,850,092	$ 4,486,501
Other Incomes
Revenue
Total revenue	$ 73,302	$ 3,104	$ 242,598	$ 23,564

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity (unaudited) - USD ($)	Total	Year-End Adjustment	Common Stock	Additional Paid-In- Capital	Accumulated Other Comprehensive Income	Accumulated Deficit	Stockholders' Equity	Redeemable Preferred Stock	Non-Controlling Interests
Redeemable Non-Controlling Interests, Beginning Balance at Dec. 31, 2022			$ 25,016	$ 19,307,518		$ (8,640,796)	$ 10,691,738		$ 445,035
Beginning Balance at Dec. 31, 2022	$ 11,136,773
Balance, Shares at Dec. 31, 2022			2,501,644
Redeemable non-controlling interest, beginning balance at Dec. 31, 2022									5,789,731
Restricted stock compensation	90,648		$ 986	89,662			90,648
Restricted stock 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)
Issuance of Redeemable Non-Controlling Interest for property acquisition									3,000,000
Distribution on Non-Controlling Interest									(115,817)
Distribution on Non-Controlling Interest	(2,844)								(2,844)
Dividends paid on common stock	(297,479)			(297,479)			(297,479)
Net Income (Loss)		$ (1,322,475)				(1,317,567)	(1,317,567)		(4,908)
Net (loss) income for the quarter									132,122
Redeemable Non-Controlling Interests, Ending 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, ending balance at Mar. 31, 2023									6,326,737
Redeemable Non-Controlling Interests, Beginning Balance at Dec. 31, 2022			$ 25,016	19,307,518		(8,640,796)	10,691,738		445,035
Beginning Balance at Dec. 31, 2022	11,136,773
Balance, Shares at Dec. 31, 2022			2,501,644
Redeemable non-controlling interest, beginning balance at Dec. 31, 2022									5,789,731
Conversion of Preferred Stock into Common Stock	0
Dividends paid on common stock	(909,792)
Net Income (Loss)	(3,837,931)
Redeemable Non-Controlling Interests, Ending Balance at Sep. 30, 2023			$ 26,192	18,683,616		(12,668,727)	6,120,051		416,258
Ending Balance at Sep. 30, 2023		6,536,309			$ 78,969			$ 11,637,616
Balance, Shares at Sep. 30, 2023			2,619,232
Redeemable non-controlling interest, ending balance at Sep. 30, 2023									18,424,559
Redeemable Non-Controlling Interests, Beginning Balance at Mar. 31, 2023			$ 26,108	19,099,595		(9,958,363)	9,167,340		437,283
Beginning Balance at Mar. 31, 2023		9,604,623
Balance, Shares at Mar. 31, 2023			2,610,885
Redeemable non-controlling interest, beginning balance at Mar. 31, 2023									6,326,737
Restricted stock 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)
Distribution on Non-Controlling Interest	(2,844)								(2,844)
Dividends paid on common stock	(305,991)			(305,991)			(305,991)
Net Income (Loss)		(895,700)				(881,462)	(881,462)		(14,238)
Net (loss) income for the quarter									143,303
Redeemable Non-Controlling Interests, Ending Balance at Jun. 30, 2023			$ 26,175	18,870,576		(10,839,825)	8,056,926		420,201
Ending Balance at Jun. 30, 2023		8,477,127
Balance, Shares at Jun. 30, 2023			2,617,538
Redeemable non-controlling interest, ending balance at Jun. 30, 2023									6,343,042
Restricted stock compensation	119,380			119,380			119,380
Cashless exercise of warrants			$ 17	(17)
Cashless exercise of warrants, shares			1,694
Redemption of Redeemable Non-Controlling Interest									(2,100,000)
Issuance of Preferred Stock								11,637,616
Issuance of Redeemable Non-Controlling Interest for property acquisition									14,100,000
Distribution on Non-Controlling Interest									(345,219)
Distribution on Non-Controlling Interest	(2,844)								(2,844)
Dividends paid on common stock	(306,322)			(306,322)			(306,322)
Other comprehensive income	78,969				78,969
Dividends on preferred stock								(190,000)
Net Income (Loss)	(1,638,902)	(1,830,001)				(1,828,902)	(1,828,902)	190,000	(1,099)
Net (loss) income for the quarter									426,736
Redeemable Non-Controlling Interests, Ending Balance at Sep. 30, 2023			$ 26,192	18,683,616		(12,668,727)	6,120,051		416,258
Ending Balance at Sep. 30, 2023		6,536,309			$ 78,969			11,637,616
Balance, Shares at Sep. 30, 2023			2,619,232
Redeemable non-controlling interest, ending balance at Sep. 30, 2023									18,424,559
Redeemable Non-Controlling Interests, Ending Balance at Dec. 31, 2023	3,665,198		$ 26,207	18,472,049		(14,833,058)	3,665,198		406,131
Ending Balance at Dec. 31, 2023	4,071,329	4,071,329
Balance, Shares at Dec. 31, 2023			2,620,707
Redeemable non-controlling interest, ending balance at Dec. 31, 2023	18,812,423							11,637,616	18,812,423
Restricted stock compensation	94,935			94,935			94,935
Cashless exercise of warrants			$ 46	(46)
Cashless exercise of warrants, shares			4,551
Conversion of Preferred Stock into Common Stock	11,637,616		$ 27,946	11,609,670			11,637,616	(11,637,616)
Conversion of preferred stock to Common stock, share			2,794,597
Distribution on Non-Controlling Interest									(267,833)
Distribution on Non-Controlling Interest	(2,844)								(2,844)
Dividends paid on common stock	(525,106)			(525,106)			(525,106)
Stock issuance costs	(61,938)			(61,938)			(61,938)
Dividends on preferred stock								(95,000)
Net Income (Loss)		(2,927,802)				(2,920,220)	(2,920,220)	95,000	(7,582)
Net (loss) income for the quarter									953,706
Redeemable Non-Controlling Interests, Ending Balance at Mar. 31, 2024			$ 54,199	29,589,564		(17,753,278)	11,890,485		395,705
Ending Balance at Mar. 31, 2024		12,286,190
Balance, Shares at Mar. 31, 2024			5,419,855
Redeemable non-controlling interest, ending balance at Mar. 31, 2024									19,498,296
Redeemable Non-Controlling Interests, Beginning Balance at Dec. 31, 2023	3,665,198		$ 26,207	18,472,049		(14,833,058)	3,665,198		406,131
Beginning Balance at Dec. 31, 2023	4,071,329	4,071,329
Balance, Shares at Dec. 31, 2023			2,620,707
Redeemable non-controlling interest, beginning balance at Dec. 31, 2023	18,812,423							$ 11,637,616	18,812,423
Conversion of Preferred Stock into Common Stock	11,637,616
Dividends paid on common stock	(1,159,481)
Net Income (Loss)	(8,056,538)
Redeemable Non-Controlling Interests, Ending Balance at Sep. 30, 2024	6,199,179		$ 54,232	29,129,543		(22,984,596)	6,199,179		392,861
Ending Balance at Sep. 30, 2024	6,592,040	6,592,040
Balance, Shares at Sep. 30, 2024			5,423,188
Redeemable non-controlling interest, ending balance at Sep. 30, 2024	26,135,796								23,056,190
Redeemable Non-Controlling Interests, Beginning Balance at Mar. 31, 2024			$ 54,199	29,589,564		(17,753,278)	11,890,485		395,705
Beginning Balance at Mar. 31, 2024		12,286,190
Balance, Shares at Mar. 31, 2024			5,419,855
Redeemable non-controlling interest, beginning balance at Mar. 31, 2024									19,498,296
Restricted stock compensation	94,935			94,935			94,935
Cashless exercise of warrants			$ 33	(33)
Cashless exercise of warrants, shares			3,333
Issuance of Redeemable Non-Controlling Interest for property acquisition									2,500,000
Distribution on Non-Controlling Interest									(271,090)
Distribution on Non-Controlling Interest	(2,844)								(2,844)
Dividends paid on common stock	(634,407)			(634,407)			(634,407)
Stock issuance costs	(15,450)			(15,450)			(15,450)
Net Income (Loss)		(2,261,722)				(2,261,722)	(2,261,722)
Net (loss) income for the quarter									800,234
Redeemable Non-Controlling Interests, Ending Balance at Jun. 30, 2024			$ 54,232	29,034,609		(20,015,000)	9,073,841		392,861
Ending Balance at Jun. 30, 2024		9,466,702
Balance, Shares at Jun. 30, 2024			5,423,188
Redeemable non-controlling interest, ending balance at Jun. 30, 2024									22,527,440
Restricted stock compensation	94,934			94,934			94,934
Distribution on Non-Controlling Interest									(337,297)
Net Income (Loss)	(2,969,596)	(2,969,596)				(2,969,596)	(2,969,596)
Net (loss) income for the quarter									866,047
Redeemable Non-Controlling Interests, Ending Balance at Sep. 30, 2024	6,199,179		$ 54,232	$ 29,129,543		$ (22,984,596)	$ 6,199,179		392,861
Ending Balance at Sep. 30, 2024	6,592,040	$ 6,592,040
Balance, Shares at Sep. 30, 2024			5,423,188
Redeemable non-controlling interest, ending balance at Sep. 30, 2024	$ 26,135,796								$ 23,056,190

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($)	9 Months Ended
Consolidated Statements of Cash Flows (unaudited) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (5,444,133)	$ (3,156,015)
Adjustments to reconcile net loss to cash from operating activities
Depreciation of building and site improvements	2,142,914	1,371,486
Amortization of acquired tenant improvements	241,870	95,172
Amortization of in-place leases	1,090,135	630,312
Amortization of above market leases	305,312	55,337
Amortization of below market leases	(101,406)	(136,745)
Amortization of above market ground lease	(549)	(549)
Amortization of debt issuance costs	156,091	103,990
Restricted stock unit compensation	284,804	287,067
Non-cash ground lease expense	64,149	62,948
Income on investment in tenancy-in-common	0	(32,773)
Dead deal expense	35,873	109,569
Gain on derivative valuation, net	308,570	0
Loss on held for sale asset valuation	1,058,994	0
Changes in operating assets and liabilities
Accounts receivable	76,617	(209,825)
Escrow and other assets	(185,932)	(40,358)
Deferred rent asset	670,424	(51,401)
Prepaid expenses	(166,558)	(295,549)
Accounts payable	(327,476)	130,817
Accrued expenses	641,342	1,004,983
Lease liability	37,443	24,420
Deferred rent liability	(104,974)	65,651
Net cash provided by operating activities	783,511	18,537
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of land, buildings, other tangible and intangible assets	(5,960,892)	(31,959,572)
Purchase of remaining tenancy-in-common interest	0	(1,355,401)
Net cash used in investing activities	(5,960,892)	(33,314,973)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of redeemable non-controlling interests	5,580,000	17,100,000
Redemption of redeemable non-controlling interests	0	(4,579,299)
Proceeds from issuance on loan payable - related party	0	4,000,000
Repayment of other payable - related party	(1,357,380)	(777,460)
Mortgage loan borrowings	2,217,350	21,000,000
Mortgage loan repayments	(639,599)	(578,433)
Equity issuance costs	(77,421)	(362,384)
Debt issuance costs		(376,877)
Insurance financing borrowings	400,889	352,307
Insurance financing repayments	(285,406)	(260,384)
Distribution on non-controlling interests	(881,907)	(596,566)
Dividends paid on preferred stock	(190,000)	(95,000)
Dividends paid on common stock	(1,159,481)	(909,792)
Net cash provided by financing activities	3,607,045	33,916,112
Net (decrease) increase in cash and cash equivalents	(1,570,336)	619,676
Cash and cash equivalents and restricted cash - beginning of period	3,151,946	3,752,996
Cash and cash equivalents and restricted cash - end of period	1,581,610	4,372,672
CASH TRANSACTIONS
Interest Paid	1,243,608	1,419,345
NON-CASH TRANSACTIONS
Conversion of Preferred Stock into Common Stock	11,637,616	0
Stock issued for cashless exercise of Investor Warrants	79	190
Deferred distribution on redeemable non-controlling interests	2,280,471	114,128
Gain on change in fair value of derivative instrument	0	78,969
Issuance of Preferred Stock	$ 0	$ 12,000,000

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (2,969,596)	$ (1,638,902)	$ (8,056,538)	$ (3,837,931)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modified	false
Non-Rule 10b5-1 Arrangement Modified	false

Nature of Operations

Nature of Operations	9 Months Ended
Nature of Operations	Sep. 30, 2024
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 September 30, 2024 owned 95.3 % of the outstanding common units of the Operating Partnership. The Company formed a Maryland entity GIP REIT OP Limited LLC in 2018 that owns 0.001 % 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 September 30, 2024 , the Company, the Operating Partnership, and their controlled subsidiaries on a consolidated basis owned 27 properties. Management’s Liquidity Plans and Going Concern On August 27, 2014, FASB issued ASU 2014-05, Disclosure of Uncertainties about an Entity’s ability to Continue as a Going Concern, which requires management to assess a company’s ability to continue as a going concern within one year from financial statement issuance and to provide related footnote disclosures in certain circumstances. In accordance with ASU 2014-05, management’s analysis can only include the potential mitigating impact of management’s plans that have not been fully implemented as of the issuance date if (a) it is probable that management’s plans will be effectively implemented on a timely basis, and (b) it is probable that the plans, when implemented, will alleviate the relevant conditions or events that raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying Consolidated Financial Statements are prepared in accordance with U.S. GAAP applicable to a going concern. This presentation contemplates the realization of assets and the satisfaction of liabilities in the normal course of business and does not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of the uncertainties described below. For the nine months ended September 30, 2024, the Company generated positive operating cash flows of $ 783,511 and had cash on hand of $ 1.58 million as of September 30, 2024. As a result of our recurring losses, our projected cash needs, and our current liquidity, substantial doubt exists about the Company’s ability to continue as a going concern one year after the date that these financial statements are issued. In August 2024 the Company modified terms for two secured mortgage loans set to expire in September 2024 and October 2024. As of September 30, 2024, the principal balances of the modified secured loans were $ 7.2 million and $ 4.4 million at 6.15 % annual interest with maturity dates extended to August 2029. The Company’s ability to continue as a going concern is contingent upon continued successful execution of management’s plan to improve the Company’s liquidity and profitability.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2024
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 April 8, 2024. The results for the three and nine months ended September 30, 2024 are not necessarily indicative of the results to be expected for the year ending December 31, 2024. The preparation of the consolidated financial statements is 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 that sums to the total of those amounts at the end of the periods presented on the Company’s accompanying Consolidated Statements of Cash Flows: As of September 30, As of December 31, 2024 2023 Cash and cash equivalents $ 1,547,110 $ 3,117,446 Restricted cash 34,500 34,500 Cash and cash equivalents and restricted cash $ 1,581,610 $ 3,151,946 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. Deferred rent liability includes $ 176,393 and $ 280,332 of prepaid rent as of September 30, 2024 and December 31, 2023, 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 record an allowance with a corresponding reduction 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 nine months ended September 30, 2024 or 2023. 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, Business Combinations, and to date has concluded that all asset transactions have been 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 term of the leases as amortization expense. The fair value of an 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 to 9 years. Tenant improvements are amortized over the lease terms of the tenants, which is generally between 2 and 10 years, with two tenant improvements amortized over 27 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, Leases, 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. An impairment loss of approximately $ 1.06 million was recognized during the three months ended March 31, 2024 resulting from the reduction in the anticipated holding period of the property which was reclassified as held for sale in the three months ended March 31, 2024 and remains classified as held for sale as of September 30, 2024. There were no impairments in the Company's investments in real estate during the nine months ended September 30, 2023. 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. Real Estate Held for Sale The Company generally considers assets to be held for sale when certain criteria have been met, and management believes it is probable that the disposition will occur within one year. Properties are held for sale for a period longer than one year if events or circumstances out of the Company's control occur that delay the sale and while management continues to be committed to the plan of sale and is performing actions necessary to respond to the conditions causing the delay the properties held for sale remain salable in their current condition. Assets that are classified as held for sale are recorded at the lower of their carrying amount or fair value, less cost to sell, and depreciation and amortization are no longer recognized. Held for sale properties are evaluated quarterly to ensure that properties continue to meet the held for sale criteria. If properties are required to be reclassified from held for sale to held for use due to changes to a plan of sale, they are recorded at the lower of fair value or the carrying amount before the property was classified as held for sale, adjusted for any depreciation and amortization expense that would have been recognized had the property been continuously classified as held and used. Properties that do not meet the held for sale criteria are accounted for as operating properties. The Company executed a contract to sell the property located at 15091 SW Alabama, Huntsville, AL for $ 6.15 million in September 2024, As of the reporting date, the transaction has not consummated in a sale and the Company is actively engaged in discussions with other potential buyers. As such, the Company has reclassified the asset to Held for sale assets net of the costs of sales at a carrying value of approximately $ 5.75 million and recorded an impairment loss of approximately $ 1.06 million. 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 nine months ended September 30, 2024 and 2023. 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 September 30, 2024 or 2023. At September 30, 2024 , the Company's tax returns for the years 2020 forward remain subject to examination by the major tax jurisdictions under the statute of limitations. Earnings per Share In accordance with ASC 260, Earning Per Share, 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 nine months ended September 30, 2024 and 2023 , all potentially dilutive securities were excluded because the effect was anti-dilutive. Derivative Financial Instruments Derivatives are recorded at fair value on the balance sheet as assets or liabilities. The valuation of derivative instruments requires us to make estimates and judgments that affect the fair value of the instruments. Fair values of our derivatives are estimated by pricing models that consider the forward yield curves and discount rates. Such amounts and the recognition of such amounts are subject to estimates that may change in the future. Fair Value Measurements Fair value is a market-based measurement, not an entity-specific measurement. Therefore, a fair value measurement is determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, the Company uses a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from independent sources (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the Company's own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy). The three levels of inputs used to measure fair value are as follows: • Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. • Level 2 - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 - Unobservable inputs for the asset or liability, which are typically based on the Company's own assumptions, as there is little, if any, related market activity. The Company also re-measures nonfinancial assets and nonfinancial liabilities, initially measured at fair value in a business combination or other new basis event, at fair value in subsequent periods if a re-measurement event occurs. See Derivative Financial Instruments in Note 10 for additional information on the Company's fair value measurements.

Acquired Lease Intangible Asset

Acquired Lease Intangible Assets, Net	9 Months Ended
Acquired Lease Intangible Assets, Net	Sep. 30, 2024
Intangible Assets Net Excluding Goodwill [Abstract]
Acquired Lease Intangible Assets, Net	Note 3 – Acquired Lease Intangible Assets, net In-place leases, net is comprised of the following: As of September 30, As of December 31, 2024 2023 In-place leases $ 8,844,500 $ 8,914,075 Accumulated amortization ( 2,857,652 ) ( 2,411,802 ) In-place leases, net $ 5,986,848 $ 6,502,273 The amortization for in-place leases for the three and nine months ended September 30, 2024 and 2023 was $ 346,404 and $ 359,010 , and 1,090,135 and 630,312 , respectively. The future amortization for in-place leases, net for subsequent years ending December 31, is listed below: As of September 30, 2024 2024 (3 months remaining) $ 369,087 2025 1,430,164 2026 1,328,912 2027 936,941 2028 734,784 Thereafter 1,186,960 $ 5,986,848 The Company acquired in place lease intangible assets of $ 574,710 reflected in the tables above as of September 30, 2024. Above-market leases, net is comprised of the following: As of September 30, As of December 31, 2024 2023 Above-market leases $ 1,657,257 $ 1,657,256 Accumulated amortization ( 475,097 ) ( 169,784 ) Above-market leases, net $ 1,182,160 $ 1,487,472 The amortization for above-market leases for the three and nine months ended September 30, 2024 and 2023 was $ 101,770 and $ 55,337 , and $ 305,312 and $ 55,337 , respectively. The future amortization for above-market leases, net for subsequent years ending December 31, is listed below: As of September 30, 2024 2024 (3 months remaining) $ 101,771 2025 407,083 2026 380,037 2027 161,539 2028 104,334 Thereafter 27,396 $ 1,182,160

Acquired Lease Intangible Liabi

Acquired Lease Intangible Liabilities, Net	9 Months Ended
Acquired Lease Intangible Liabilities, Net	Sep. 30, 2024
Below Market Lease [Abstract]
Acquired Lease Intangible Liabilities, net	Note 4 – Acquired lease intangible liabilities, net Acquired lease intangible liabilities, net is comprised of the following: As of September 30, As of December 31, 2024 2023 Acquired lessor lease intangible liabilities $ 1,416,685 $ 1,304,309 Accumulated accretion to rental income ( 433,339 ) ( 331,932 ) Acquired lessor lease intangible liabilities, net $ 983,346 $ 972,377 Acquired lessee lease intangible liabilities $ 45,207 $ 45,207 Accumulated amortization to offset building expenses ( 1,873 ) ( 1,324 ) Acquired lessee lease intangible liabilities, net $ 43,334 $ 43,883 The Company acquired lease intangible liabilities of $ 112,376 reflected in the table above as of September 30, 2024. The amortization for acquired lessor lease intangible liabilities for the three and nine months ended September 30, 2024 and 2023 was $ 33,802 and $ 34,756 , and $ 101,406 and $ 136,745 , respectively. The future amortization for acquired lessor lease intangible liabilities, net for subsequent years ending December 31 is listed below: As of September 30, 2024 2024 (3 months remaining) 39,297 2025 155,610 2026 139,329 2027 130,389 2028 129,773 Thereafter 388,948 $ 983,346 The amortization for acquired lessee lease intangible liabilities for the three and nine months ended September 30, 2024 and 2023 was $ 183 and $ 549 , respectively. The future amortization for acquired lessee lease intangible liabilities, net for subsequent years ending December 31 is listed below: As of September 30, 2024 2024 (3 months remaining) $ 183 2025 732 2026 732 2027 732 2028 732 Thereafter 40,223 $ 43,334

Leases

Leases	9 Months Ended
Leases	Sep. 30, 2024
Leases [Abstract]
Leases	Note 5 – 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 and index based rent adjustments. The following table provides a disaggregation of lease income recognized as either fixed or variable lease income for the nine months ended September 30, 2024 and 2023: 2024 2023 Rental income Fixed and in-substance fixed lease income $ 5,934,480 $ 3,784,640 Variable lease income 1,045,265 575,078 Other related lease income, net: Amortization of above- and below-market leases, net ( 203,906 ) 81,408 Straight line rent revenue 74,253 45,375 Total rental income $ 6,850,092 $ 4,486,501 For the nine months ended September 30, 2024 and 2023, the following tenants each accounted for more than 10% of our rental revenue as indicated below: 2024 2023 General Services Administration - Norfolk, VA, Manteo, NC & Vacaville, CA 12 % 23 % Pre-K - San Antonio, TX 11 % N/A Dollar General 11 % N/A Kohl's Corporation 10 % 14 % exp U.S. services 10 % N/A PRA Holdings, Inc. - Norfolk, VA 9 % 13 % Pratt & Whitney Automation, Inc. - Huntsville, AL N/A 12 % 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 September 30, 2024 2024 (3 months remaining) $ 2,155,664 2025 8,535,343 2026 8,251,393 2027 6,227,716 2028 4,547,697 Thereafter 18,645,714 $ 48,363,527 On March 29, 2024, the Company executed a 10-year lease, with two five-year renewal options, with Armed Services YMCA for the use of approximately 35,000 square feet of the property located at 2510 Walmer Avenue, Norfolk, Virginia. Rent commenced on May 1, 2024 under the contracted twelve month tenant improvement period at a reduced fixed base rent of approximately $ 23,000 per month. Base rent increases to a fixed rate of approximately $ 34,000 per month in month 13 and escalates annually at approximately 2.5 % . On August 29, 2024, the Company acquired a 30,465 square foot retail property in Ames, Iowa for $ 5.5 million occupied by Best Buy with a remaining lease of approximately 6 years at an annual base rent of $ 405,470 . Future minimum rent reflected in the above table, accordingly. 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 approximately $ 93,762 for the three months ended September 30, 2024 and 2023 and $ 281,285 for the nine months ended September 30, 2024 and 2023 , 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 $ 61,278 and $ 58,175 for the three months ended September 30, 2024 and 2023, respectively, and $ 182,799 and $ 174,525 for the nine months ended September 30, 2024 and 2023. The following table summarizes the undiscounted future cash flows for subsequent years ending December 31 attributable to the lease liability as of September 30, 2024 and provides a reconciliation to the lease liability included in the accompanying Consolidated Balance Sheets as of September 30, 2024. As of September 30, 2024 2024 (3 months remaining) 61,019 2025 245,111 2026 245,111 2027 245,111 2028 245,111 Thereafter 21,575,533 Total undiscounted liability $ 22,616,996 Present value discount ( 16,164,772 ) Lease liability $ 6,452,224 Discount rate 4.58 % Term Remaining 60 years

Non-Controlling Interests

Non-Controlling Interests	9 Months Ended
Non-Controlling Interests	Sep. 30, 2024
Noncontrolling Interest [Abstract]
Non-Controlling Interests	Note 6 – Non-Controlling Interests Redeemable Non-Controlling Interests (Temporary Equity) Operating Unit Holders LMB Owenton I LLC 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 14, 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 155,185 GIP LP Units in the Operating Partnership at redemption value of $ 1,109,570 as of September 30, 2024. Norfolk, VA Partnership 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. In accordance with the Redemption Agreement the Company has made payments of $ 2,459,840 to date, reducing the current balance of the other payable - related party to $ 452,460 as of September 30, 2024. 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. In the year ended December 31, 2023, we accrued approximately $ 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 and is included in Accrued Expense - Related Party on the face of the balance sheet and the balance remained unchanged as of September 30, 2024. Preferred Equity Partners Brown Family Trust and Brown Family Enterprises, LLC 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 was presented as temporary equity at redemption value. On August 10, 2023, the Company exercised its right to call the preferred equity at redemption value and redeemed the preferred equity upon payment of the original capital contribution plus accrued and deferred interest. 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. Brown Family Enterprises, LLC has the right to redeem the preferred equity at redemption value. On July 25, 2024, we entered into First Amendments to the Second Amended and Restated Limited Liability Company Agreements, dated as of February 8, 2023, for each of these entities revising the redemption date from February 8, 2025 to February 8, 2027. 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 September 30, 2024. Irby Prop Partners 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 was presented as temporary equity at redemption value. On August 10, 2023, the Company exercised its right to call the preferred equity at redemption value and redeemed the preferred equity upon payment of the original capital contribution plus accrued and deferred interest. Richard Hornstrom 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 was presented as temporary equity at redemption value. On August 10, 2023, the Company exercised its right to call the preferred equity at redemption value and redeemed the preferred equity upon payment of the original capital contribution plus accrued and deferred interest. LC2-NNN Pref, LLC In connection with the acquisition of the Modiv Portfolio, the Operating Partnership and LC2 entered into an Amended and Restated Limited Liability Company Agreement for GIP SPE (the “GIP SPE Operating Agreement”) pursuant to which LC2 made a $ 12.0 million initial capital contribution to GIP SPE, together with a commitment to make an additional $ 2.1 million contribution upon the satisfactory completion of the acquisition of a tenant-in-common interest held by a third party in the Company’s Rockford, Illinois property (the “LC2 Investment”). The Company completed the acquisition of such tenant-in-common interest on September 7, 2023, for a purchase price of $ 1.3 million and LC2 made the additional $ 2.1 million capital contribution on September 11, 2023. LC2 made the LC2 Investment in exchange for a preferred equity interest in GIP SPE (the “Preferred Interest”). The Preferred Interest has a cumulative accruing distribution preference of 15.5% per year, compounded monthly, a portion of which in the amount of 5% per annum (compounded monthly) is deemed to be the “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 GIP SPE operating agreement provides that operating distributions by GIP SPE will be made first to LC2 to satisfy any accrued but unpaid current preferred return, with the balance being paid to the Operating Partnership, unless the “annualized debt yield” of GIP SPE is less than 10%, in which case the balance will be paid to LC2. For this purpose, “annualized debt yield” is calculated as the sum of senior debt and LC2 Investment divided by the trailing three-month annualized adjusted net operating income (as defined in the GIP SPE Operating Agreement) of GIP SPE. The GIP SPE Operating Agreement also provides that distributions from capital transactions will be paid first to LC2 to satisfy any accrued but unpaid preferred return, then to LC2 until the “Make-Whole Amount” (defined as the amount equal to 1.3 times the LC2 Investment) is reduced to zero, and then to the Operating Partnership. The Preferred Interest is required to be redeemed in full by the Company on or before August 10, 2025 for a redemption amount equal to the greater of (i) the amount of the LC2 Investment plus the accrued preferred return, and (ii) the Make-Whole Amount. Upon a failure to timely redeem the Preferred Interest, the preferred return will accrue at an increased rate of 18% per annum, compounded monthly. The Company will have the right to extend the Mandatory Redemption Date for two consecutive 12-month extension periods, provided that (i) LC2 is paid an extension fee of 0.01% of the outstanding amount of the LC2 Investment for each such extension, (ii) the preferred return is increased from 15.5% to 18% of which the accrued preferred return is increased from 10.5% to 13%, (iii) the trailing 6-month annualized adjusted net operating income (as defined in the GIP SPE Operating Agreement) is in excess of $5.0 million, (iv) GIP SPE and its subsidiaries’ senior debt is extended through the end of the extension period, and there are no defaults under the GIP SPE Operating Agreement. Under the GIP SPE Operating Agreement, GIP SPE is also required to pay to Loci Capital, an affiliate of LC2, an equity fee of 1.5% of the LC2 Investment, with 1% having been paid upon the execution and delivery of the GIP SPE Operating Agreement and the 0.5 % payable upon redemption of the LC2 Investment. Due to the redemption right, the Preferred Interest is presented as temporary equity at redemption value of $ 14,100,000 plus accrued but unpaid preferred interest of $ 2,280,471 as of September 30, 2024. 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. 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 September 30, 2024 , the Company owned 95.3 % of the common units in the Operating Partnership and outside investors owned 4.7 %. The following table reflects the Company's redeemable non-controlling interests and non-controlling interest during the three and nine months ended September 30, 2024 and 2023: 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) JCWC Funding, LLC LC2-NNN Pref, LLC Total Redeemable Non-Controlling Interests Non-Controlling Interests - Former GIP Fund 1 Members 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 Interests 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 Issuance of Redeemable Non-Controlling Interests - - - - - 14,100,000 14,100,000 - Redemption of Redeemable Non-Controlling Interests ( 500,000 ) ( 950,000 ) ( 650,000 ) - - - ( 2,100,000 ) - Distribution on Non-Controlling Interests ( 57,835 ) ( 96,403 ) ( 58,286 ) ( 18,157 ) ( 12,352 ) ( 102,186 ) ( 345,219 ) ( 2,844 ) Net income (loss) for the quarter 57,835 12,293 8,924 18,157 12,352 317,175 426,736 ( 1,099 ) Balance, September 30, 2023 $ 3,000,000 $ - $ - $ 1,109,570 $ - $ 14,314,989 $ 18,424,559 $ 416,258 Distribution on Non-Controlling Interests - - - ( 18,157 ) ( 10,588 ) - ( 184,556 ) ( 213,301 ) ( 2,844 ) Net income (loss) for the quarter - - - 18,157 10,588 - 572,420 601,164 ( 7,283 ) Balance, December 31, 2023 $ 3,000,000 $ - $ - $ 1,109,570 $ - $ - $ 14,702,853 $ 18,812,423 $ 406,131 Distribution on Non-Controlling Interests ( 52,500 ) - - ( 18,157 ) ( 9,705 ) - ( 187,471 ) ( 267,833 ) ( 2,844 ) Net income (loss) for the quarter 52,500 - - 18,157 9,705 - 873,344 953,706 ( 7,582 ) Balance, March 31, 2024 $ 3,000,000 $ - $ - $ 1,109,570 $ - $ - $ 15,388,726 $ 19,498,296 $ 395,705 Issuance of Redeemable Non-Controlling Interests - - - - - 2,500,000 - 2,500,000 - Distribution on Non-Controlling Interests ( 52,500 ) - - ( 18,157 ) ( 7,942 ) - ( 192,491 ) ( 271,090 ) ( 2,844 ) Net income (loss) for the quarter $ 52,500 - - 18,157 7,942 - 721,635 800,234 Balance, June 30, 2024 $ 3,000,000 $ - $ - $ 1,109,570 $ - $ 2,500,000 $ 15,917,870 $ 22,527,440 $ 392,861 Issuance of Redeemable Non-Controlling Interests - - - - - 3,080,000 - 3,080,000 - Distribution on Non-Controlling Interests ( 52,500 ) - - ( 18,157 ) ( 4,412 ) ( 64,119 ) ( 198,109 ) ( 337,297 ) Net income (loss) for the quarter 52,500 - - 18,157 4,412 64,119 726,859 866,047 Balance, September 30, 2024 $ 3,000,000 $ - $ - $ 1,109,570 $ - $ 5,580,000 $ 16,446,620 $ 26,136,190 $ 392,861

Equity

Equity	9 Months Ended
Equity	Sep. 30, 2024
Equity [Abstract]
Equity	Note 7 – Equity Authorized Equity The Company is authorized to issue up to 100,000,000 shares of common stock and 10,000,000 shares of preferred stock of which 2,400,000 were designated as Series A Preferred Stock. Holders of the Company’s common stock are entitled to receive dividends when authorized by the Company’s Board of Directors. In January 2024, the Company redeemed all 2,400,000 shares of its Series A Preferred Stock from its preferred shareholders, Modiv and their affiliates, and exchanged them for 2,794,597 shares of common stock. Issuance of Equity Securities For the three months ended March 31, 2024, the Company recorded approximately $ 27,946 to common stock and $ 11,609,670 to additional paid-in capital related to the redemption and exchange of all 2,400,000 shares of the Series A Preferred Stock shares for 2,794,597 common stock shares. Additionally, the Company recorded approximately $ 61,938 of stock issuance costs to additional paid-in capital for registration and legal counsel costs incurred to issue the new common stock shares exchanged for the Series A Preferred Stock shares. In January 2024, the Company declared and paid final preferred stock dividends of $ 95,000 to holders of its Series A Preferred Stock shares. In January 2024, the Company also paid another $ 95,000 dividend on the Series A Preferred Stock declared in December 2023 and accrued as of December 31, 2023. On June 27, 2024, the Operating Partnership and an accredited investor entered into a Unit Purchase Agreement (the “June 2024 Unit Purchase Agreement”) pursuant to which the Operating Partnership issued and sold to the investor 500,000 Series A Preferred Units at a price of $ 5.00 per unit for an aggregate purchase price of two million five hundred thousand dollars ($ 2,500,000 ) in cash. Under the terms of the Series A Preferred Units, the investor will be paid cumulative cash distributions in the amount of $ 0.325 per Series A Preferred Unit per year, payable monthly in arrears, on or about the 15th day of each month. Each of the investor and the Operating Partnership will have the right to cause the Operating Partnership to redeem the Series A Preferred Units after two ( 2 ) years for cash in an amount equal to $ 5.15 per Series A Preferred Unit plus any accrued but unpaid Series A Preferred Return, provided that the Operating Partnership may (with the prior written consent of the investor) cause the redemption price to be satisfied by the issuance of a number of shares of common stock of the Company equal to the number of Series A Preferred Units being redeemed multiplied by 1.03 plus any accrued but unpaid Series A Preferred Return. If the Operating Partnership fails to declare and pay the Series A Preferred Return for a period of three consecutive months, the investor may exercise the foregoing redemption right within the 30-day period following such failure. On July 24, 2024, the Operating Partnership of Generation Income Properties, Inc. (the “Company”), entered into a Fifth Amendment to the Amended and Restated Limited Partnership Agreement of the Operating Partnership (the “LPA Amendment”), pursuant to which the Company, as the general partner of the Operating Partnership, issued partnership interests to LMB Owenton I LLC (“Contributor”) in the form of Series B-1 Preferred Units (the “Series B-1 Preferred Units”). Also on July 24, 2024, the Operating Partnership and the Contributor entered into a Contribution and Exchange Agreement (the “Contribution Agreement”) pursuant to which the Contributor contributed 155,185 Common Units in exchange for 155,185 Series B-1 Preferred Units. If and when determined by the Company, as general partner of the Operating Partnership, in its sole discretion, holders of the Series B-1 Preferred Units will be paid cash distributions in the amount of $ 0.117 per Series B-1 Preferred Unit per quarter, subject to prior payment of any preferred return on senior preferred units of the Operating Partnership. The Contributor will have the right to cause the Operating Partnership to redeem the Series B-1 Preferred Units after two ( 2 ) years for either (i) cash in an amount equal to $ 7.15 per Series B-1 Preferred Unit or (ii) a number of shares of common stock of the Company equal to the number of Series B-1 Preferred Units being redeemed multiplied by 1.00 , plus, in each case, an amount equal to all dividends accrued and unpaid thereon. Warrants Private Placement Warrants On April 25, 2019, 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 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. 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. Investor Warrants 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. Investor Warrants 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 Nine months ended September 30, 2024 , 45,510 Investor Warrants were exercised on a cashless basis resulting in the issuance of 4,551 shares of common stock. During the three months ended March 31, 2023, 106,480 Investor Warrants were exercised on a cashless basis resulting in the issuance of 10,648 shares of common stock. See Note 11 Subsequent Events for Investor Warrants exercised after September 30, 2024. Representative Warrants 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 819,360 and 912,950 warrants outstanding and exercisable as of September 30, 2024 and September 30, 2023, respectively, as summarized below. Investor Warrants issued on September 8 and 30, 2021 became exercisable on a cashless basis on January 6 and 28, 2022, respectively. As of September 30, Issue Date 2024 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 $ 10.00 404,510 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 14,850 819,360 Warrants Weighted Average Price Weighted Average Remaining Life As of December 31, 2023 898,200 $ 11.53 2.7 Exercised ( 78,840 ) 10.00 As of September 30, 2024 819,360 $ 11.61 2.5 Warrants exercisable 819,360 $ 11.61 2.5 Warrants Weighted Average Price Weighted Average Remaining Life As of December 31, 2022 1,102,900 $ 11.25 3.7 Exercised ( 189,950 ) 10.00 As of September 30, 2023 912,950 $ 11.51 3.0 Warrants exercisable 912,950 $ 11.51 3.0 Authorized Date Record Date Per Share/Unit June 3, 2024 June 15, 2024 $ 0.039 May 3, 2024 May 15, 2024 $ 0.039 April 4, 2024 April 15, 2024 $ 0.039 January 3, 2024 March 15, 2024 $ 0.039 January 3, 2024 February 14, 2024 $ 0.039 January 3, 2024 January 15, 2024 $ 0.039 October 3, 2023 December 15, 2023 $ 0.039 October 3, 2023 November 15, 2023 $ 0.039 October 3, 2023 October 15, 2023 $ 0.039 July 3, 2023 September 15, 2023 $ 0.039 July 3, 2023 August 15, 2023 $ 0.039 July 3, 2023 July 15, 2023 $ 0.039 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

Mortgage Loans

Mortgage Loans	9 Months Ended
Mortgage Loans	Sep. 30, 2024
Debt Disclosure [Abstract]
Mortgage Loans	Note 8 – Mortgage Loans The Company had the following mortgage loans outstanding as of September 30, 2024 and December 31, 2023, respectively: Occupying Tenant Location Original Loan Amount Interest Rate Maturity Date 9/30/2024 12/31/2023 Debt Service Coverage Ratios ("DSCR") Required 7-Eleven Corporation & Starbucks Corporation Washington, D.C., Tampa, FL, and Huntsville, AL $ 11,287,500 (a) 4.17 % 3/6/2030 $ 10,619,578 $ 10,757,239 1.25 General Services Administration-Navy & AYMCA Norfolk, VA 8,260,000 (f) 6.15 % 8/30/2029 7,165,788 7,341,804 1.25 PRA Holdings, Inc. Norfolk, VA 5,216,749 (f) 6.15 % 8/23/2029 4,439,827 4,562,722 1.25 Sherwin Williams Company Tampa, FL 1,286,664 3.72 % (b) 8/10/2028 1,263,111 1,286,664 1.20 General Services Administration-FBI Manteo, NC 928,728 (c) 3.85 % (d) 3/31/2032 896,924 913,958 1.50 Irby Construction Plant City , FL 928,728 (c) 3.85 % (d) 3/31/2032 896,924 913,958 1.50 La-Z-Boy Inc. Rockford, IL 2,100,000 3.85 % (d) 3/31/2032 2,028,087 2,066,604 1.50 Best Buy Co., Inc. Grand Junction, CO 2,552,644 (c) 3.85 % (d) 3/31/2032 2,465,231 2,512,050 1.50 Fresenius Medical Care Holdings, Inc. Chicago, IL 1,727,108 (c) 3.85 % (d) 3/31/2032 1,667,965 1,699,642 1.50 Starbucks Corporation Tampa, FL 1,298,047 (c) 3.85 % (d) 3/31/2032 1,253,596 1,277,404 1.50 Kohl's Corporation Tucson, AZ 3,964,745 (c) 3.85 % (d) 3/31/2032 3,828,975 3,901,694 1.50 City of San Antonio (PreK) San Antonio, TX 6,444,000 (e) 7.47 % (b) 8/10/2028 6,347,784 6,416,362 1.50 Dollar General Market Bakersfield, CA 2,428,000 (e) 7.47 % (b) 8/10/2028 2,391,747 2,417,587 1.50 Dollar General Big Spring, TX 635,000 (e) 7.47 % (b) 8/10/2028 625,519 632,277 1.50 Dollar General Castalia, OH 556,000 (e) 7.47 % (b) 8/10/2028 547,698 553,615 1.50 Dollar General East Wilton, ME 726,000 (e) 7.47 % (b) 8/10/2028 715,160 722,886 1.50 Dollar General Lakeside, OH 567,000 (e) 7.47 % (b) 8/10/2028 558,534 564,568 1.50 Dollar General Litchfield, ME 624,000 (e) 7.47 % (b) 8/10/2028 614,683 621,324 1.50 Dollar General Mount Gilead, OH 533,000 (e) 7.47 % (b) 8/10/2028 525,042 530,714 1.50 Dollar General Thompsontown, PA 556,000 (e) 7.47 % (b) 8/10/2028 547,698 553,615 1.50 Dollar Tree Stores, Inc. Morrow, GA 647,000 (e) 7.47 % (b) 8/10/2028 637,340 644,225 1.50 exp U.S. Services Inc. Maitland, FL 2,950,000 (e) 7.47 % (b) 8/10/2028 2,905,953 2,937,348 1.50 General Services Administration Vacaville, CA 1,293,000 (e) 7.47 % (b) 8/10/2028 1,273,694 1,287,454 1.50 Walgreens Santa Maria, CA 3,041,000 (e) 7.47 % (b) 8/10/2028 2,995,594 3,027,958 1.50 Best Buy Co., Inc. Ames, IA 2,495,000 6.29 % (b) 8/23/2029 2,495,000 n/a 1.50 63,045,913 59,707,452 58,143,672 Less Debt Discount, net ( 328,943 ) ( 383,767 ) Less Debt Issuance Costs, net ( 827,677 ) ( 942,595 ) 58,550,832 56,817,310 (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 % (e) One loan in the amount of $ 21.0 million secured by 13 properties and allocated to each property at the date of acquisition based on each property's appraised value. (f) Debt has been modified to mature in August 2029 The Company amortized debt issuance costs and debt discount during the three and nine months ended September 30, 2024 and 2023 to interest expense of approximately $ 60,532 and $ 46,260 , and $ 156,091 and $ 103,990 , respectively. The Company paid debt issuance costs of $ 0 and $ 376,877 during the nine months ended September 30, 2024 and 2023, respectively. Each mortgage loan requires the Company to maintain certain debt service coverage ratios as noted above. In addition, two mortgage loans, one encumbered by six properties and requiring a 1.50 DSCR, and another stand alone mortgage loan requiring a 1.50 DSCR, require 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 September 30, 2024, 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 previously held in the tenancy-in-common investment at an interest rate of 3.85 % from April 1, 2022 through and until March 31, 2027. In conjunction with the LC2 Investment to purchase the remaining interest in the tenancy-in-common interest discussed above, the Company assumed the original $ 2.1 million loan on the property with a remaining balance of $ 2,079,178 and recognized a discount of $ 383,767 . 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. On August 10, 2023, GIP13, LLC, a Delaware limited liability company and wholly owned subsidiary of GIP SPE ("GIP Borrower"), entered into a Loan Agreement with Valley Bank pursuant to which Valley Bank made a loan to the Company in the amount of $ 21.0 million to finance the acquisition of the Modiv Portfolio. The outstanding principal amount of the loan bears interest at an annual rate for each 30-day interest period equal to the compounded average of the secured overnight financing rate published by Federal Reserve Bank of New York for the thirty-day period prior to the last day of each 30-day interest rate for the applicable interest rate period plus 3.25 %, with interest payable monthly after each 30-day interest period. However, the Company entered into an interest rate swap to fix the interest rate at 7.47 % per annum. Payments of interest and principal in the amount of approximately $ 156,000 are due and payable monthly, with all remaining principal and accrued but unpaid interest due and payable on a maturity date of August 10, 2028. The loan may generally be prepaid at any time without penalty in whole or in part, provided that there is no return of loan fees and prepaid financing fees. The loan is secured by first mortgages and assignments of rents in the properties comprising the Modiv Portfolio and eight other properties held by subsidiaries of GIP SPE that had outstanding loans with Valley. All of the mortgaged properties cross collateralize the loan, and the loan is guaranteed by the Operating Partnership and the subsidiaries of the Company that hold the properties that comprise the Modiv Portfolio. The loan agreement also provides for customary events of default and other customary affirmative and negative covenants that are applicable to GIP Borrower and its subsidiaries, including reporting covenants and restrictions on investments, additional indebtedness, liens, sales of properties, certain mergers, and certain management changes. The Company's President and CEO also entered into a personal, full recourse guarantee with a $ 7,500,000 cap. The Company’s President and CEO also has personally guaranteed the repayment of the $ 10.6 million due under the 7-11 - Washington, DC; Starbucks - South Tampa, FL; vacant - 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 provided a guaranty of the Company’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 $ 11.6 million. During the three and nine months ended September 30, 2024 and 2023, the Company incurred a guaranty fee expense to the Company's CEO of $ 102,023 and $ 81,022 and $ 304,245 and $ 196,304 , respectively, recorded to interest expense. In January 2024 the Company paid $ 385,395 to the CEO for guaranty fees from July 2023 through June 2024 and was fully amortized with a balance of $ 0 in Prepaid guaranty fees – related party on the Consolidated Balance Sheets as of September 30, 2024. As of September 30, 2024 the Company has incurred $ 96,652 for guaranty fees payable which is included in accrued expenses. 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 has made payments to date totaling $ 2,459,840 as of September 30, 2024 with a remaining balance of $ 452,460 and $ 1,809,840 outstanding as of September 30, 2024 and December 31, 2023, respectively. 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 with a maturity of October 14, 2024, and bearing a fixed interest rate of 9 % with simple interest 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. On July 21, 2023, the Company amended and restated the promissory note to reflect an increase in the loan 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. Minimum 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 September 30, 2024 2024 (3 months remaining) 317,629 452,460 - 770,089 2025 1,236,176 - - 1,236,176 2026 1,319,320 - 5,500,000 6,819,320 2027 1,422,520 - - 1,422,520 2028 21,757,610 - - 21,757,610 Thereafter 33,654,197 - - 33,654,197 $ 59,707,452 $ 452,460 $ 5,500,000 $ 65,659,912

Related Party

Related Party	9 Months Ended
Related Party	Sep. 30, 2024
Related Party Transactions [Abstract]
Related Party	Note 9 – 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 has made payments to date totaling $ 2,459,840 with a remaining balance of $ 452,460 outstanding as of September 30, 2024 . 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 with a maturity of October 14, 2024, and bearing a fixed interest rate of 9 % with simple interest 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. On July 21, 2023, the Company amended and restated the promissory note to reflect an increase in the loan 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. 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. 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 September 30, 2024. During the three and nine months ended September 30, 2024 and 2023 the Company incurred a guaranty fee expense to the Company's CEO of $ 96,652 and $ 81,022 and $ 304,245 and $ 196,304 , respectively, recorded to interest expense. In January 2024 the Company paid $ 385,395 to the CEO for guaranty fees from July 2023 through June 2024. As of September 30, 2024 the Company has accrued $ 96,652 of guaranty fees. See Note 8 – Debt for details of the guaranty provided by the Company's President and CEO.

Derivative Financial Instrument

Derivative Financial Instruments and Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments and Fair Value Measurements	Note 10 – Derivative Financial Instruments and Fair Value Measurements On August 10, 2023, as previously disclosed, the Company entered into a loan agreement for $ 21.0 million and corresponding swap agreement with the same notional amount to finance the acquisition of the Modiv Portfolio. The outstanding principal amount of the loan bears interest at an annual rate for each 30-day interest period equal to the compounded average of the secured overnight financing rate published by Federal Reserve Bank of New York for the thirty-day period prior to the last day of each 30-day interest rate for the applicable interest rate period plus 3.25 %, with interest payable monthly after each 30-day interest period. On the same date, the Company entered into corresponding swap agreement, fixing the interest rate at 7.47 % per annum through the contract's termination in August 2028. In November 2020, the Company entered into a $ 1.3 million loan agreement and corresponding swap agreement with the same notional amount to support project financing. The outstanding principal amount of the loan bears interest at an annual rate for each 30-day interest period equal to the compounded average of the secured overnight financing rate published by Federal Reserve Bank of New York for the thirty-day period prior to the last day of each 30-day interest rate for the applicable interest rate period plus 2.75 %, with interest payable monthly after each 30-day interest period through the contract's termination in August 2028. The interest swap fixed the interest rate at 3.72 % per annum. The Company has not elected hedge accounting and has reported periodic changes in derivative valuations in Loss on derivative valuation for $ 734,116 and $ 308,570 for the three and nine months ended September 30, 2024 and a Gain on derivative valuation of $ 78,969 for the three and nine months ended September 30, 2023, respectively. As of September 30, 2024, the Company recognized a Derivative Liability of $ 809,339 and derivative asset of $ 152,369 , which was included in Escrow Deposits and Other assets on the face of the balance sheet. The Company does not use derivatives for speculative purposes The fair value of the Company's interest rate derivatives is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty's nonperformance risk in the fair value measurements. Certain inputs, which are material to the value, are considered Level 3 inputs. Level 3 inputs are unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The carrying amounts and estimated fair values of our financial instruments are as follows: FN 12 Fair Value September 30, 2024 December 31, 2023 Carrying Amount Fair Value Carrying Amount Fair Value Financial assets: Cash and cash equivalents $ 1,547,110 $ 1,547,110 $ 3,117,446 $ 3,117,446 Restricted cash 34,500 34,500 34,500 34,500 Interest rate swaps 152,369 152,369 135,642 135,642 Financial liabilities: Interest rate swaps 809,339 809,339 537,424 537,424

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 11 – Subsequent Events No material events.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2024
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 April 8, 2024. The results for the three and nine months ended September 30, 2024 are not necessarily indicative of the results to be expected for the year ending December 31, 2024. The preparation of the consolidated financial statements is 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.
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.
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 that sums to the total of those amounts at the end of the periods presented on the Company’s accompanying Consolidated Statements of Cash Flows: As of September 30, As of December 31, 2024 2023 Cash and cash equivalents $ 1,547,110 $ 3,117,446 Restricted cash 34,500 34,500 Cash and cash equivalents and restricted cash $ 1,581,610 $ 3,151,946
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. Deferred rent liability includes $ 176,393 and $ 280,332 of prepaid rent as of September 30, 2024 and December 31, 2023, 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 record an allowance with a corresponding reduction 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 nine months ended September 30, 2024 or 2023. 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	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, Business Combinations, and to date has concluded that all asset transactions have been 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 term of the leases as amortization expense. The fair value of an 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 to 9 years. Tenant improvements are amortized over the lease terms of the tenants, which is generally between 2 and 10 years, with two tenant improvements amortized over 27 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, Leases, 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	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. An impairment loss of approximately $ 1.06 million was recognized during the three months ended March 31, 2024 resulting from the reduction in the anticipated holding period of the property which was reclassified as held for sale in the three months ended March 31, 2024 and remains classified as held for sale as of September 30, 2024. There were no impairments in the Company's investments in real estate during the nine months ended September 30, 2023. 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.
Real Estate Held for Sale	Real Estate Held for Sale The Company generally considers assets to be held for sale when certain criteria have been met, and management believes it is probable that the disposition will occur within one year. Properties are held for sale for a period longer than one year if events or circumstances out of the Company's control occur that delay the sale and while management continues to be committed to the plan of sale and is performing actions necessary to respond to the conditions causing the delay the properties held for sale remain salable in their current condition. Assets that are classified as held for sale are recorded at the lower of their carrying amount or fair value, less cost to sell, and depreciation and amortization are no longer recognized. Held for sale properties are evaluated quarterly to ensure that properties continue to meet the held for sale criteria. If properties are required to be reclassified from held for sale to held for use due to changes to a plan of sale, they are recorded at the lower of fair value or the carrying amount before the property was classified as held for sale, adjusted for any depreciation and amortization expense that would have been recognized had the property been continuously classified as held and used. Properties that do not meet the held for sale criteria are accounted for as operating properties. The Company executed a contract to sell the property located at 15091 SW Alabama, Huntsville, AL for $ 6.15 million in September 2024, As of the reporting date, the transaction has not consummated in a sale and the Company is actively engaged in discussions with other potential buyers. As such, the Company has reclassified the asset to Held for sale assets net of the costs of sales at a carrying value of approximately $ 5.75 million and recorded an impairment loss of approximately $ 1.06 million.
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 nine months ended September 30, 2024 and 2023. 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 September 30, 2024 or 2023. At September 30, 2024 , the Company's tax returns for the years 2020 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, Earning Per Share, 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 nine months ended September 30, 2024 and 2023 , all potentially dilutive securities were excluded because the effect was anti-dilutive.
Derivative Financial Instruments	Derivative Financial Instruments Derivatives are recorded at fair value on the balance sheet as assets or liabilities. The valuation of derivative instruments requires us to make estimates and judgments that affect the fair value of the instruments. Fair values of our derivatives are estimated by pricing models that consider the forward yield curves and discount rates. Such amounts and the recognition of such amounts are subject to estimates that may change in the future.
Fair Value Measurements	Fair Value Measurements Fair value is a market-based measurement, not an entity-specific measurement. Therefore, a fair value measurement is determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, the Company uses a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from independent sources (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the Company's own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy). The three levels of inputs used to measure fair value are as follows: • Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. • Level 2 - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 - Unobservable inputs for the asset or liability, which are typically based on the Company's own assumptions, as there is little, if any, related market activity. The Company also re-measures nonfinancial assets and nonfinancial liabilities, initially measured at fair value in a business combination or other new basis event, at fair value in subsequent periods if a re-measurement event occurs. See Derivative Financial Instruments in Note 10 for additional information on the Company's fair value measurements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
Summary of Significant Accounting Policies (Tables)	Sep. 30, 2024
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 that sums to the total of those amounts at the end of the periods presented on the Company’s accompanying Consolidated Statements of Cash Flows: As of September 30, As of December 31, 2024 2023 Cash and cash equivalents $ 1,547,110 $ 3,117,446 Restricted cash 34,500 34,500 Cash and cash equivalents and restricted cash $ 1,581,610 $ 3,151,946

Acquired Lease Intangible Ass_2

Acquired Lease Intangible Assets, Net (Tables)	9 Months Ended
Acquired Lease Intangible Assets, Net (Tables)	Sep. 30, 2024
Above Market Leases [Member]
Finite-Lived Intangible Assets [Line Items]
Schedule of Intangible Assets, Net	Above-market leases, net is comprised of the following: As of September 30, As of December 31, 2024 2023 Above-market leases $ 1,657,257 $ 1,657,256 Accumulated amortization ( 475,097 ) ( 169,784 ) Above-market leases, net $ 1,182,160 $ 1,487,472
Schedule of Future Amortization for Intangible Assets	The future amortization for above-market leases, net for subsequent years ending December 31, is listed below: As of September 30, 2024 2024 (3 months remaining) $ 101,771 2025 407,083 2026 380,037 2027 161,539 2028 104,334 Thereafter 27,396 $ 1,182,160
Leases Acquired In Place [Member]
Finite-Lived Intangible Assets [Line Items]
Schedule of Intangible Assets, Net	In-place leases, net is comprised of the following: As of September 30, As of December 31, 2024 2023 In-place leases $ 8,844,500 $ 8,914,075 Accumulated amortization ( 2,857,652 ) ( 2,411,802 ) In-place leases, net $ 5,986,848 $ 6,502,273
Schedule of Future Amortization for Intangible Assets	The future amortization for in-place leases, net for subsequent years ending December 31, is listed below: As of September 30, 2024 2024 (3 months remaining) $ 369,087 2025 1,430,164 2026 1,328,912 2027 936,941 2028 734,784 Thereafter 1,186,960 $ 5,986,848

Acquired Lease Intangible Lia_2

Acquired Lease Intangible Liabilities, Net (Tables)	9 Months Ended
Acquired Lease Intangible Liabilities, Net (Tables)	Sep. 30, 2024
Below Market Lease [Abstract]
Summary of Acquired Lease Intangible Liabilities	Acquired lease intangible liabilities, net is comprised of the following: As of September 30, As of December 31, 2024 2023 Acquired lessor lease intangible liabilities $ 1,416,685 $ 1,304,309 Accumulated accretion to rental income ( 433,339 ) ( 331,932 ) Acquired lessor lease intangible liabilities, net $ 983,346 $ 972,377 Acquired lessee lease intangible liabilities $ 45,207 $ 45,207 Accumulated amortization to offset building expenses ( 1,873 ) ( 1,324 ) Acquired lessee lease intangible liabilities, net $ 43,334 $ 43,883
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 September 30, 2024 2024 (3 months remaining) 39,297 2025 155,610 2026 139,329 2027 130,389 2028 129,773 Thereafter 388,948 $ 983,346 The amortization for acquired lessee lease intangible liabilities for the three and nine months ended September 30, 2024 and 2023 was $ 183 and $ 549 , respectively. The future amortization for acquired lessee lease intangible liabilities, net for subsequent years ending December 31 is listed below: As of September 30, 2024 2024 (3 months remaining) $ 183 2025 732 2026 732 2027 732 2028 732 Thereafter 40,223 $ 43,334

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 30, 2024
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 for the nine months ended September 30, 2024 and 2023: 2024 2023 Rental income Fixed and in-substance fixed lease income $ 5,934,480 $ 3,784,640 Variable lease income 1,045,265 575,078 Other related lease income, net: Amortization of above- and below-market leases, net ( 203,906 ) 81,408 Straight line rent revenue 74,253 45,375 Total rental income $ 6,850,092 $ 4,486,501
Summary of Concentration of Risk Percentage of Tenants	For the nine months ended September 30, 2024 and 2023, the following tenants each accounted for more than 10% of our rental revenue as indicated below: 2024 2023 General Services Administration - Norfolk, VA, Manteo, NC & Vacaville, CA 12 % 23 % Pre-K - San Antonio, TX 11 % N/A Dollar General 11 % N/A Kohl's Corporation 10 % 14 % exp U.S. services 10 % N/A PRA Holdings, Inc. - Norfolk, VA 9 % 13 % Pratt & Whitney Automation, Inc. - Huntsville, AL N/A 12 %
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 September 30, 2024 2024 (3 months remaining) $ 2,155,664 2025 8,535,343 2026 8,251,393 2027 6,227,716 2028 4,547,697 Thereafter 18,645,714 $ 48,363,527
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 September 30, 2024 and provides a reconciliation to the lease liability included in the accompanying Consolidated Balance Sheets as of September 30, 2024. As of September 30, 2024 2024 (3 months remaining) 61,019 2025 245,111 2026 245,111 2027 245,111 2028 245,111 Thereafter 21,575,533 Total undiscounted liability $ 22,616,996 Present value discount ( 16,164,772 ) Lease liability $ 6,452,224 Discount rate 4.58 % Term Remaining 60 years

Non-Controlling Interests (Tabl

Non-Controlling Interests (Tables)	9 Months Ended
Non-Controlling Interests (Tables)	Sep. 30, 2024
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 nine months ended September 30, 2024 and 2023: 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) JCWC Funding, LLC LC2-NNN Pref, LLC Total Redeemable Non-Controlling Interests Non-Controlling Interests - Former GIP Fund 1 Members 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 Interests 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 Issuance of Redeemable Non-Controlling Interests - - - - - 14,100,000 14,100,000 - Redemption of Redeemable Non-Controlling Interests ( 500,000 ) ( 950,000 ) ( 650,000 ) - - - ( 2,100,000 ) - Distribution on Non-Controlling Interests ( 57,835 ) ( 96,403 ) ( 58,286 ) ( 18,157 ) ( 12,352 ) ( 102,186 ) ( 345,219 ) ( 2,844 ) Net income (loss) for the quarter 57,835 12,293 8,924 18,157 12,352 317,175 426,736 ( 1,099 ) Balance, September 30, 2023 $ 3,000,000 $ - $ - $ 1,109,570 $ - $ 14,314,989 $ 18,424,559 $ 416,258 Distribution on Non-Controlling Interests - - - ( 18,157 ) ( 10,588 ) - ( 184,556 ) ( 213,301 ) ( 2,844 ) Net income (loss) for the quarter - - - 18,157 10,588 - 572,420 601,164 ( 7,283 ) Balance, December 31, 2023 $ 3,000,000 $ - $ - $ 1,109,570 $ - $ - $ 14,702,853 $ 18,812,423 $ 406,131 Distribution on Non-Controlling Interests ( 52,500 ) - - ( 18,157 ) ( 9,705 ) - ( 187,471 ) ( 267,833 ) ( 2,844 ) Net income (loss) for the quarter 52,500 - - 18,157 9,705 - 873,344 953,706 ( 7,582 ) Balance, March 31, 2024 $ 3,000,000 $ - $ - $ 1,109,570 $ - $ - $ 15,388,726 $ 19,498,296 $ 395,705 Issuance of Redeemable Non-Controlling Interests - - - - - 2,500,000 - 2,500,000 - Distribution on Non-Controlling Interests ( 52,500 ) - - ( 18,157 ) ( 7,942 ) - ( 192,491 ) ( 271,090 ) ( 2,844 ) Net income (loss) for the quarter $ 52,500 - - 18,157 7,942 - 721,635 800,234 Balance, June 30, 2024 $ 3,000,000 $ - $ - $ 1,109,570 $ - $ 2,500,000 $ 15,917,870 $ 22,527,440 $ 392,861 Issuance of Redeemable Non-Controlling Interests - - - - - 3,080,000 - 3,080,000 - Distribution on Non-Controlling Interests ( 52,500 ) - - ( 18,157 ) ( 4,412 ) ( 64,119 ) ( 198,109 ) ( 337,297 ) Net income (loss) for the quarter 52,500 - - 18,157 4,412 64,119 726,859 866,047 Balance, September 30, 2024 $ 3,000,000 $ - $ - $ 1,109,570 $ - $ 5,580,000 $ 16,446,620 $ 26,136,190 $ 392,861

Equity (Tables)

Equity (Tables)	9 Months Ended
Equity (Tables)	Sep. 30, 2024
Equity [Abstract]
Schedule of Investor Warrants Issued Exerxisable On A Cashless Basis	Investor Warrants issued on September 8 and 30, 2021 became exercisable on a cashless basis on January 6 and 28, 2022, respectively. As of September 30, Issue Date 2024 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 $ 10.00 404,510 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 14,850 819,360
Schedule of Stockholders Equity	Warrants Weighted Average Price Weighted Average Remaining Life As of December 31, 2023 898,200 $ 11.53 2.7 Exercised ( 78,840 ) 10.00 As of September 30, 2024 819,360 $ 11.61 2.5 Warrants exercisable 819,360 $ 11.61 2.5 Warrants Weighted Average Price Weighted Average Remaining Life As of December 31, 2022 1,102,900 $ 11.25 3.7 Exercised ( 189,950 ) 10.00 As of September 30, 2023 912,950 $ 11.51 3.0 Warrants exercisable 912,950 $ 11.51 3.0 There was no intrinsic value for the warrants as of September 30, 2024 or 2023. 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 September 30, 2024 , 158,840 shares had been granted under the Omnibus Incentive Plan. Restricted Common Shares issued to the Board and Employees The following is a summary of restricted shares for the nine months ended September 30, 2024 and 2023: 2024 2023 Number of Shares Outstanding at beginning of period 91,516 58,502 Restricted Shares Issued - 98,593 Restricted Shares Vested ( 43,364 ) ( 46,213 ) Number of Shares Outstanding at end of period 48,152 110,882 On June 15, 2024, the Company issued restricted stock units with respect to an aggregate of 61,275 shares of common stock to non-employee directors of the Company, excluding the Chairman of the Board, David Sobelman. The Company recorded stock based compensation expense of $ 94,934 and $ 119,380 and $ 284,805 and $ 287,067 during the three and nine months ended September 30, 2024 and 2023, respectively. Cash Distributions While the Company is under no obligation to do so, the Company has historically declared and paid distributions to its common stockholders and Operating Partnership unit holders, provided that On July 3, 2024, the Company announced that its Board of Directors determined to suspend the Company’s regular dividend, commencing with the monthly dividends that would have been paid in July 2024. The issuance of future distributions 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 monthly distributions to common stockholders and Operating Partnership unit holders:
Schedule of Restricted Common Shares Issued	The following is a summary of restricted shares for the nine months ended September 30, 2024 and 2023: 2024 2023 Number of Shares Outstanding at beginning of period 91,516 58,502 Restricted Shares Issued - 98,593 Restricted Shares Vested ( 43,364 ) ( 46,213 ) Number of Shares Outstanding at end of period 48,152 110,882
Schedule of Cash Distributions	The following is a summary of monthly distributions to common stockholders and Operating Partnership unit holders: Authorized Date Record Date Per Share/Unit June 3, 2024 June 15, 2024 $ 0.039 May 3, 2024 May 15, 2024 $ 0.039 April 4, 2024 April 15, 2024 $ 0.039 January 3, 2024 March 15, 2024 $ 0.039 January 3, 2024 February 14, 2024 $ 0.039 January 3, 2024 January 15, 2024 $ 0.039 October 3, 2023 December 15, 2023 $ 0.039 October 3, 2023 November 15, 2023 $ 0.039 October 3, 2023 October 15, 2023 $ 0.039 July 3, 2023 September 15, 2023 $ 0.039 July 3, 2023 August 15, 2023 $ 0.039 July 3, 2023 July 15, 2023 $ 0.039 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

Mortgage Loans (Tables)

Mortgage Loans (Tables)	9 Months Ended
Mortgage Loans (Tables)	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Promissory Notes	The Company had the following mortgage loans outstanding as of September 30, 2024 and December 31, 2023, respectively: Occupying Tenant Location Original Loan Amount Interest Rate Maturity Date 9/30/2024 12/31/2023 Debt Service Coverage Ratios ("DSCR") Required 7-Eleven Corporation & Starbucks Corporation Washington, D.C., Tampa, FL, and Huntsville, AL $ 11,287,500 (a) 4.17 % 3/6/2030 $ 10,619,578 $ 10,757,239 1.25 General Services Administration-Navy & AYMCA Norfolk, VA 8,260,000 (f) 6.15 % 8/30/2029 7,165,788 7,341,804 1.25 PRA Holdings, Inc. Norfolk, VA 5,216,749 (f) 6.15 % 8/23/2029 4,439,827 4,562,722 1.25 Sherwin Williams Company Tampa, FL 1,286,664 3.72 % (b) 8/10/2028 1,263,111 1,286,664 1.20 General Services Administration-FBI Manteo, NC 928,728 (c) 3.85 % (d) 3/31/2032 896,924 913,958 1.50 Irby Construction Plant City , FL 928,728 (c) 3.85 % (d) 3/31/2032 896,924 913,958 1.50 La-Z-Boy Inc. Rockford, IL 2,100,000 3.85 % (d) 3/31/2032 2,028,087 2,066,604 1.50 Best Buy Co., Inc. Grand Junction, CO 2,552,644 (c) 3.85 % (d) 3/31/2032 2,465,231 2,512,050 1.50 Fresenius Medical Care Holdings, Inc. Chicago, IL 1,727,108 (c) 3.85 % (d) 3/31/2032 1,667,965 1,699,642 1.50 Starbucks Corporation Tampa, FL 1,298,047 (c) 3.85 % (d) 3/31/2032 1,253,596 1,277,404 1.50 Kohl's Corporation Tucson, AZ 3,964,745 (c) 3.85 % (d) 3/31/2032 3,828,975 3,901,694 1.50 City of San Antonio (PreK) San Antonio, TX 6,444,000 (e) 7.47 % (b) 8/10/2028 6,347,784 6,416,362 1.50 Dollar General Market Bakersfield, CA 2,428,000 (e) 7.47 % (b) 8/10/2028 2,391,747 2,417,587 1.50 Dollar General Big Spring, TX 635,000 (e) 7.47 % (b) 8/10/2028 625,519 632,277 1.50 Dollar General Castalia, OH 556,000 (e) 7.47 % (b) 8/10/2028 547,698 553,615 1.50 Dollar General East Wilton, ME 726,000 (e) 7.47 % (b) 8/10/2028 715,160 722,886 1.50 Dollar General Lakeside, OH 567,000 (e) 7.47 % (b) 8/10/2028 558,534 564,568 1.50 Dollar General Litchfield, ME 624,000 (e) 7.47 % (b) 8/10/2028 614,683 621,324 1.50 Dollar General Mount Gilead, OH 533,000 (e) 7.47 % (b) 8/10/2028 525,042 530,714 1.50 Dollar General Thompsontown, PA 556,000 (e) 7.47 % (b) 8/10/2028 547,698 553,615 1.50 Dollar Tree Stores, Inc. Morrow, GA 647,000 (e) 7.47 % (b) 8/10/2028 637,340 644,225 1.50 exp U.S. Services Inc. Maitland, FL 2,950,000 (e) 7.47 % (b) 8/10/2028 2,905,953 2,937,348 1.50 General Services Administration Vacaville, CA 1,293,000 (e) 7.47 % (b) 8/10/2028 1,273,694 1,287,454 1.50 Walgreens Santa Maria, CA 3,041,000 (e) 7.47 % (b) 8/10/2028 2,995,594 3,027,958 1.50 Best Buy Co., Inc. Ames, IA 2,495,000 6.29 % (b) 8/23/2029 2,495,000 n/a 1.50 63,045,913 59,707,452 58,143,672 Less Debt Discount, net ( 328,943 ) ( 383,767 ) Less Debt Issuance Costs, net ( 827,677 ) ( 942,595 ) 58,550,832 56,817,310 (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 % (e) One loan in the amount of $ 21.0 million secured by 13 properties and allocated to each property at the date of acquisition based on each property's appraised value. (f) Debt has been modified to mature in August 2029
Schedule of Minimum Required Principal Payments	Minimum 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 September 30, 2024 2024 (3 months remaining) 317,629 452,460 - 770,089 2025 1,236,176 - - 1,236,176 2026 1,319,320 - 5,500,000 6,819,320 2027 1,422,520 - - 1,422,520 2028 21,757,610 - - 21,757,610 Thereafter 33,654,197 - - 33,654,197 $ 59,707,452 $ 452,460 $ 5,500,000 $ 65,659,912

Derivative Financial Instrume_2

Derivative Financial Instruments and Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments	The carrying amounts and estimated fair values of our financial instruments are as follows: FN 12 Fair Value September 30, 2024 December 31, 2023 Carrying Amount Fair Value Carrying Amount Fair Value Financial assets: Cash and cash equivalents $ 1,547,110 $ 1,547,110 $ 3,117,446 $ 3,117,446 Restricted cash 34,500 34,500 34,500 34,500 Interest rate swaps 152,369 152,369 135,642 135,642 Financial liabilities: Interest rate swaps 809,339 809,339 537,424 537,424

Nature of Operations - Addition

Nature of Operations - Additional Information (Details)	9 Months Ended
Nature of Operations - Additional Information (Details)	Sep. 30, 2024 USD ($) Property	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Nature Of Operations [Line Items]
Entity incorporation date	Sep. 19, 2015
Number of properties owned \| Property	27
Net cash provided by operating activities	$ 783,511	$ 18,537
Cash	1,580,000
Mortgage loan, net of unamortized debt issuance costs	$ 58,551,152		$ 56,817,310
Annual Interest	6.15%
Secured Mortgage Loan One [Member]
Nature Of Operations [Line Items]
Mortgage loan, net of unamortized debt issuance costs	$ 7,200,000
Secured Mortgage Loan Two [Member]
Nature Of Operations [Line Items]
Mortgage loan, net of unamortized debt issuance costs	$ 4,400,000
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	0.001%
Operating Partnership \| Common Units
Nature Of Operations [Line Items]
Ownership percentage	95.30%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Schedule of Reconciliation of Cash and Cash Equivalents and Restricted Cash (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Cash and cash equivalents	$ 1,547,110	$ 3,117,446
Restricted cash	34,500	34,500
Cash and cash equivalents and restricted cash	$ 1,581,610	$ 3,151,946

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Additional Information (Details)	3 Months Ended	9 Months Ended
	Mar. 31, 2024 USD ($)	Sep. 30, 2024 USD ($) Tenant	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Deferred rent asset		$ 435,767	$ 1,106,191
Deferred rent liability		155,968	260,942
Prepaid rent		176,393	$ 280,332
Impairments		0
Impairment loss	$ 1,060,000
Liability for unrecognized tax benefits		$ 0		$ 0
Buildings \| Minimum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life		15 years
Buildings \| Maximum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life		50 years
Tenant Improvements
Summary Of Significant Accounting Policies [Line Items]
Regulatory Asset, Amortization Period		27 years
Number Of tenant \| Tenant		2
Tenant Improvements \| Minimum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life		2 years
Tenant Improvements \| Maximum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life		10 years
Site Improvements \| Minimum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life		5 years
Site Improvements \| Maximum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life		9 years
Real Estate Held for Sale
Summary Of Significant Accounting Policies [Line Items]
Property Sales, Deposit Received		$ 6,150,000
Held for sale assets net, costs of sale		5,750,000
Impairments		$ 1,060,000

Investments in Real Estate - Ad

Investments in Real Estate - Additional Information (Details)	Aug. 29, 2024 USD ($)
Asset Acquisition [Line Items]
Annual base rent	$ 405,470

Acquired Lease Intangible Ass_3

Acquired Lease Intangible Assets, Net - Schedule of Intangible Assets, Net (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Acquired lease intangible assets	$ 10,501,756	$ 10,571,331
Above Market Leases [Member]
Finite-Lived Intangible Assets [Line Items]
Acquired lease intangible assets	1,657,257	1,657,256
Accumulated amortization	(475,097)	(169,784)
Acquired lease intangible assets, net	1,182,160	1,487,472
Leases Acquired In Place [Member]
Finite-Lived Intangible Assets [Line Items]
Acquired lease intangible assets	8,844,500	8,914,075
Accumulated amortization	(2,857,652)	(2,411,802)
Acquired lease intangible assets, net	$ 5,986,848	$ 6,502,273

Acquired Lease Intangible Ass_4

Acquired Lease Intangible Assets, Net - Schedule of Future Amortization for Intangible Assets (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Above Market Leases [Member]
Finite-Lived Intangible Assets [Line Items]
2024 (3 months remaining)	$ 101,771
2025	407,083
2026	380,037
2027	161,539
2028	104,334
Thereafter	27,396
Acquired lease intangible assets, net	1,182,160	$ 1,487,472
Leases Acquired In Place [Member]
Finite-Lived Intangible Assets [Line Items]
2024 (3 months remaining)	369,087
2025	1,430,164
2026	1,328,912
2027	734,784
2028	936,941
Thereafter	1,186,960
Acquired lease intangible assets, net	$ 5,986,848	$ 6,502,273

Acquired Lease Intangible Ass_5

Acquired Lease Intangible Assets, Net (Additional Information) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Amortization of lease intangible assets			$ 1,090,135	$ 630,312
Amortization of above market leases			305,312	55,337
Above Market Leases [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of above market leases	$ 101,770	$ 55,337	305,312	55,337
Leases Acquired In Place [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of lease intangible assets	$ 346,404	$ 359,010	1,090,135	$ 630,312
Lease intangible assets acquired			$ 574,710

Acquired Lease Intangible Lia_3

Acquired Lease Intangible Liabilities, Net - Summary of Acquired Lease Intangible Liabilities (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Intangible Assets Net Excluding Goodwill [Abstract]
Acquired lessor lease intangible liabilities	$ 1,416,685	$ 1,304,309
Accumulated accretion to rental income	(433,339)	(331,932)
Acquired lessor lease intangible liabilities, net	983,346	972,377
Acquired lessee lease intangible liabilities	45,207	45,207
Accumulated amortization to offset building expenses	(1,873)	(1,324)
Acquired lessee lease intangible liabilities, net	$ 43,334	$ 43,883

Acquired Lease Intangible Lia_4

Acquired Lease Intangible Liabilities, Net - Summary of Future Amortization for Intangible Liabilities (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Indefinite-Lived Intangible Assets [Line Items]
2024 (3 months remaining)	$ 39,297
2025	155,610
2026	139,329
2027	130,389
2028	129,773
Thereafter	388,948
Acquired lessor lease intangible liabilities, net	983,346	$ 972,377
Lessee [Member]
Indefinite-Lived Intangible Assets [Line Items]
2024 (3 months remaining)	183
2025	732
2026	732
2027	732
2028	732
Thereafter	40,223
Acquired lessor lease intangible liabilities, net	$ 43,334

Acquired lease intangible lia_5

Acquired lease intangible liabilities, net (Additional Information) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Indefinite-Lived Intangible Assets [Line Items]
Amortization of below-market leases			$ 101,406	$ 136,745
Lease intangible assets acquired			112,376
Lessee [Member]
Indefinite-Lived Intangible Assets [Line Items]
Amortization of below-market leases	$ 183	$ 549	183	549
Lessor [Member]
Indefinite-Lived Intangible Assets [Line Items]
Amortization of below-market leases	$ 33,802	$ 34,756	$ 101,406	$ 136,745

Leases - Additional Information

Leases - Additional Information (Details)		3 Months Ended		9 Months Ended
Leases - Additional Information (Details)	Aug. 29, 2024 USD ($) ft²	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Mar. 29, 2024 USD ($) ft²	Mar. 09, 2022 Property
Lessee Lease Description [Line Items]
Acquire Retail Property \| ft²	30,465
Remaining lease term	6 years
Executed lease				Company executed a 10-year lease, with two five-year renewal options, with Armed Services YMCA for the use of approximately 35,000 square feet of the property located at 2510 Walmer Avenue, Norfolk, Virginia. Rent commenced on May 1, 2024 under the contracted twelve month tenant improvement period at a reduced fixed base rent of approximately $23,000 per month. Base rent increases to a fixed rate of approximately $34,000 per month in month 13 and escalates annually at approximately 2.5%
Area of Real Estate Property \| ft²						35,000
Operating Leases, Rent Expense	$ 405,470
Escalates annually						2.50%
Increases base rent per month						$ 34,000
Reduced fixed base rent per month						$ 23,000
Operating lease, expense	$ 5.5
Ground Lease
Lessee Lease Description [Line Items]
Number of properties acquired \| Property							1
Lease expiration year				2084
Operating lease, expense		$ 93,762	$ 93,762	$ 281,285	$ 281,285
Variable lease expense				0
Right of use liability,net		$ 61,278	$ 58,175	$ 182,799	$ 174,525

Leases - Summary of Disaggregat

Leases - Summary of Disaggregation of Lease Income (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Fixed and in-substance fixed lease income	$ 5,934,480	$ 3,784,640
Variable lease income	1,045,265	575,078
Other related lease income, net:
Amortization of above- and below-market leases, net	(203,906)	81,408
Straight line rent revenue	74,253	45,375
Total rental income	$ 6,850,092	$ 4,486,501

Leases - Summary of Concentrati

Leases - Summary of Concentration of Risk Percentage of Tenants (Details) - Revenue Benchmark [Member] - Customer Concentration Risk [Member]	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Dollar General [Member]
Product Information [Line Items]
Concentration risk, percentage	11%
Exp US Services (Member)
Product Information [Line Items]
Concentration risk, percentage	10%
Kohl's Corporation Member
Product Information [Line Items]
Concentration risk, percentage	10%
Norfolk, VA & Manteo, NC [Member] \| General Services Administration [Member]
Product Information [Line Items]
Concentration risk, percentage	12%	23%
San Antonio TX (Member) \| Pre-K [Member]
Product Information [Line Items]
Concentration risk, percentage	11%
Norfolk, VA \| P R A Holding [Member]
Product Information [Line Items]
Concentration risk, percentage	9%	13%
Pratt and Whitney - Huntsville, Alabama [Member] \| Pratt And Whitney Corporation [Member]
Product Information [Line Items]
Concentration risk, percentage		12%
Tuscon Arizona [Member] \| Kohl's Corporation Member
Product Information [Line Items]
Concentration risk, percentage		14%

Leases - Summary of Future Mini

Leases - Summary of Future Minimum Rental Payments Due to the Company (Details)	Sep. 30, 2024 USD ($)
Leases [Abstract]
2024 (3 months remaining)	$ 2,155,664
2025	8,535,343
2026	8,251,393
2027	6,227,716
2028	4,547,697
Thereafter	18,645,714
Lessor, Operating Lease, Payments to be Received, Total	$ 48,363,527

Leases - Summary of Future Mi_2

Leases - Summary of Future Minimum Rental Cash Payments Due and Undiscounted Future Cash Flows (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Lessee Lease Description [Line Items]
Lease liability, net	$ 6,452,484	$ 6,415,041
Ground Lease
Lessee Lease Description [Line Items]
2024 (3 months remaining)	61,019
2025	245,111
2026	245,111
2027	245,111
2028	245,111
Thereafter	21,575,533
Total undiscounted liability	22,616,996
Present value discount	(16,164,772)
Lease liability, net	$ 6,452,224
Discount rate	4.58%
Term Remaining	60 years

Non-Controlling Interests - Sum

Non-Controlling Interests - Summary of Redeemable Non-Controlling Interests (Details) - USD ($)	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
Noncontrolling Interest [Line Items]
Redeemable non-controlling interest, beginning balance			$ 18,812,423
Redeemable non-controlling interest, ending balance	$ 26,135,796			$ 18,812,423
Brown Family Trust
Noncontrolling Interest [Line Items]
Redeemable non-controlling interest, beginning balance	3,000,000	$ 3,000,000	3,000,000	3,000,000	$ 3,500,000	$ 3,500,000	$ 500,000
Issuance of Redeemable Non-Controlling Interests	0	0			0		3,000,000
Redemption of Redeemable Non-Controlling Interest					(500,000)		0
Distribution on Non-Controlling Interest	(52,500)	(52,500)	(52,500)	0	(57,835)	(63,606)	(46,346)
Net income (loss) for the quarter	52,500	52,500	52,500	0	57,835	63,606	46,346
Redeemable non-controlling interest, ending balance	3,000,000	3,000,000	3,000,000	3,000,000	3,000,000	3,500,000	3,500,000
Irby Property Partners
Noncontrolling Interest [Line Items]
Redeemable non-controlling interest, beginning balance	0	0	0	0	1,034,110	1,024,429	1,014,748
Issuance of Redeemable Non-Controlling Interests	0	0			0		0
Redemption of Redeemable Non-Controlling Interest					(950,000)		0
Distribution on Non-Controlling Interest	0	0	0	0	(96,403)	(19,000)	(19,000)
Net income (loss) for the quarter	0	0	0	0	12,293	28,681	28,681
Redeemable non-controlling interest, ending balance	0	0	0	0	0	1,034,110	1,024,429
Richard Hornstrom
Noncontrolling Interest [Line Items]
Redeemable non-controlling interest, beginning balance	0	0	0	0	699,362	692,738	686,114
Issuance of Redeemable Non-Controlling Interests	0	0			0		0
Redemption of Redeemable Non-Controlling Interest					(650,000)		0
Distribution on Non-Controlling Interest	0	0	0	0	(58,286)	(13,000)	(13,000)
Net income (loss) for the quarter	0	0	0	0	8,924	19,624	19,624
Redeemable non-controlling interest, ending balance	0	0	0	0	0	699,362	692,738
LMB Owenton I LLC
Noncontrolling Interest [Line Items]
Redeemable non-controlling interest, beginning balance	1,109,570	1,109,570	1,109,570	1,109,570	1,109,570	1,109,570	1,109,570
Issuance of Redeemable Non-Controlling Interests	0	0			0		0
Redemption of Redeemable Non-Controlling Interest					0		0
Distribution on Non-Controlling Interest	(18,157)	(18,157)	(18,157)	(18,157)	(18,157)	(18,157)	(18,135)
Net income (loss) for the quarter	18,157	18,157	18,157	18,157	18,157	18,157	18,135
Redeemable non-controlling interest, ending balance	1,109,570	1,109,570	1,109,570	1,109,570	1,109,570	1,109,570	1,109,570
GIP LP
Noncontrolling Interest [Line Items]
Redeemable non-controlling interest, beginning balance	0	0	0	0	0	0	2,479,299
Issuance of Redeemable Non-Controlling Interests	0	0			0		0
Redemption of Redeemable Non-Controlling Interest					0		(2,479,299)
Distribution on Non-Controlling Interest	(4,412)	(7,942)	(9,705)	(10,588)	(12,352)	(13,235)	(19,336)
Net income (loss) for the quarter	4,412	7,942	9,705	10,588	12,352	13,235	19,336
Redeemable non-controlling interest, ending balance	0	0	0	0	0	0	0
JCWC Funding LLC
Noncontrolling Interest [Line Items]
Redeemable non-controlling interest, beginning balance	2,500,000	0	0		0	0	0
Issuance of Redeemable Non-Controlling Interests	3,080,000	2,500,000					0
Redemption of Redeemable Non-Controlling Interest							0
Distribution on Non-Controlling Interest	(64,119)	0	0	0		0	0
Net income (loss) for the quarter	64,119	0	0	0		0	0
Redeemable non-controlling interest, ending balance	5,580,000	2,500,000	0	0		0	0
LC2-NNN Pref LLC
Noncontrolling Interest [Line Items]
Redeemable non-controlling interest, beginning balance	15,917,870	15,388,726	14,702,853	14,314,989	0	0	0
Issuance of Redeemable Non-Controlling Interests	0	0			14,100,000		0
Redemption of Redeemable Non-Controlling Interest					0		0
Distribution on Non-Controlling Interest	(198,109)	(192,491)	(187,471)	(184,556)	(102,186)	0	0
Net income (loss) for the quarter	726,859	721,635	873,344	572,420	317,175	0	0
Redeemable non-controlling interest, ending balance	16,446,620	15,917,870	15,388,726	14,702,853	14,314,989	0	0
Non-Controlling Interests
Noncontrolling Interest [Line Items]
Redeemable non-controlling interest, beginning balance	22,527,440	19,498,296	18,812,423	18,424,559	6,343,042	6,326,737	5,789,731
Issuance of Redeemable Non-Controlling Interests	3,080,000	2,500,000			14,100,000		3,000,000
Redemption of Redeemable Non-Controlling Interest					(2,100,000)		(2,479,299)
Distribution on Non-Controlling Interest	(337,297)	(271,090)	(267,833)	(213,301)	(345,219)	(126,998)	(115,817)
Net income (loss) for the quarter	866,047	800,234	953,706	601,164	426,736	143,303	132,122
Redeemable non-controlling interest, ending balance	26,136,190	22,527,440	19,498,296	18,812,423	18,424,559	6,343,042	6,326,737
Non-Controlling Interests - Former GIP Fund 1 [Member]
Noncontrolling Interest [Line Items]
Redeemable non-controlling interest, beginning balance	392,861	395,705	406,131	416,258	420,201	437,283	445,035
Issuance of Redeemable Non-Controlling Interests	0	0			0		0
Redemption of Redeemable Non-Controlling Interest					0		0
Distribution on Non-Controlling Interest		(2,844)	(2,844)	(2,844)	(2,844)	(2,844)	(2,844)
Net income (loss) for the quarter			(7,582)	(7,283)	(1,099)	(14,238)	(4,908)
Redeemable non-controlling interest, ending balance	$ 392,861	$ 392,861	$ 395,705	$ 406,131	$ 416,258	$ 420,201	$ 437,283

Non-Controlling Interests - Add

Non-Controlling Interests - Additional Information (Details)											3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 07, 2023 USD ($)	Feb. 08, 2023 USD ($) $ / shares shares	Aug. 09, 2022 USD ($)	Jul. 20, 2022 USD ($) $ / shares shares	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 ($) Building Investor Entity $ / shares shares	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) shares	Dec. 15, 2024 shares	Sep. 15, 2024 shares	Jun. 30, 2024 USD ($)	Jun. 15, 2024 shares	Mar. 31, 2024 USD ($)	Mar. 15, 2024 shares	Oct. 31, 2023 shares	Sep. 15, 2023 shares	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Mar. 15, 2023 shares	Mar. 08, 2023 USD ($)	Jan. 27, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($)	Sep. 30, 2022 $ / shares shares	Sep. 15, 2022 USD ($) $ / shares shares	Sep. 13, 2022 USD ($)	Sep. 12, 2022 $ / shares shares	Apr. 25, 2022 USD ($) $ / shares shares	Mar. 21, 2022 USD ($) $ / shares shares
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											$ 26,135,796		$ 26,135,796		$ 18,812,423
Redemption price discount average											15%		15%
Common stock, shares issued \| shares											5,419,855		5,419,855		2,620,707
Accrued Expense											$ 0	$ 639	$ 0	$ 506,639
LC2-NNN Pref LLC [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interest, description													The Company will have the right to extend the Mandatory Redemption Date for two consecutive 12-month extension periods, provided that (i) LC2 is paid an extension fee of 0.01% of the outstanding amount of the LC2 Investment for each such extension, (ii) the preferred return is increased from 15.5% to 18% of which the accrued preferred return is increased from 10.5% to 13%, (iii) the trailing 6-month annualized adjusted net operating income (as defined in the GIP SPE Operating Agreement) is in excess of $5.0 million, (iv) GIP SPE and its subsidiaries’ senior debt is extended through the end of the extension period, and there are no defaults under the GIP SPE Operating Agreement.
Noncontrolling interest total internal rate of return percentage													0.50%
Redemption Agreement [Member]
Noncontrolling Interest [Line Items]
Issuance of Other payable - related party for redemption of Redeemable Non-Controlling Interest			$ 2,912,300	$ 2,912,299
First installment payment											$ 2,459,840		$ 2,459,840							$ 2,459,840							$ 2,459,840					$ 2,459,840
Common stock, shares issued \| shares											200,000		200,000
LMB Owenton I LLC
Noncontrolling Interest [Line Items]
Redeemable noncontrolling interest redeemed											$ 1,109,570	1,109,570	$ 1,109,570	1,109,570	$ 1,109,570			$ 1,109,570		1,109,570				$ 1,109,570	$ 1,109,570				$ 1,109,570
Total units issued \| shares											155,185		155,185
Brown Family Trust
Noncontrolling Interest [Line Items]
Redeemable noncontrolling interest redeemed											$ 3,000,000	3,000,000	$ 3,000,000	3,000,000	3,000,000			3,000,000		3,000,000				3,500,000	3,500,000				500,000
Accrued Expense															506,000
Irby Property Partners
Noncontrolling Interest [Line Items]
Redeemable noncontrolling interest redeemed											0	0	0	0	0			0		0				1,034,110	1,024,429				1,014,748
Richard Hornstrom
Noncontrolling Interest [Line Items]
Redeemable noncontrolling interest redeemed											0	$ 0	$ 0	$ 0	$ 0			$ 0		$ 0				$ 699,362	$ 692,738				$ 686,114
Operating Partnership
Noncontrolling Interest [Line Items]
Percentage Value Of Interest In Common Units													95.30%
Total units issued \| shares																						180,615
Operating Partnership \| Outside Investor
Noncontrolling Interest [Line Items]
Percentage Value Of Interest In Common Units													4.70%
Common Stock [Member]
Noncontrolling Interest [Line Items]
Common stock, shares issued \| shares																															200,000
Class A Preferred Units \| LC2-NNN Pref LLC [Member]
Noncontrolling Interest [Line Items]
Redeemable Noncontrolling Interest, Equity, Preferred, Redemption Value											14,100,000		$ 14,100,000
Redeemable Noncontrolling Interest Unpaid													$ 2,280,471
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. Because of the redemption right, the non-controlling interest was presented as temporary equity at redemption value.
Preferred Equity Agreement \| Irby Property Partners \| Preferred Equity Partners
Noncontrolling Interest [Line Items]
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. Because of the redemption right, the non-controlling interest was presented as temporary 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 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.
Noncontrolling interest internal rate of return percentage paid on monthly basis						8%
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. Brown Family Enterprises, LLC has the right to redeem the preferred equity at redemption value. On July 25, 2024, we entered into First Amendments to the Second Amended and Restated Limited Liability Company Agreements, dated as of February 8, 2023, for each of these entities revising the redemption date from February 8, 2025 to February 8, 2027.
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 \| LMB Owenton I LLC
Noncontrolling Interest [Line Items]
Number of common units issued \| shares					110,957
Common units issue price per share \| $ / shares					$ 10
Common units value issued					$ 1,109,570
Common units redemption price per share \| $ / shares					$ 10						$ 7.15		$ 7.15
Total units issued \| shares											44,228		44,228
Common units value redeemed											$ 1,109,570		$ 1,109,570
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
Number of investors required to redeem \| Investor										2
Common units redemption price per share \| $ / shares				$ 20						$ 20																		$ 20		$ 20	$ 20			$ 20	$ 20
Increase (Decrease) in Other Accounts Payable													$ 452,460
Total units issued \| shares				25,000																								123,965		129,365	16,250			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									24,309
Common units issue price per share \| $ / shares									$ 20
Common units value issued									$ 486,180
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 Five [Member] \| Operating Partnership
Noncontrolling Interest [Line Items]
Total units issued \| shares																22,623	22,623		22,623		22,623		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]
Acquisition of building							$ 1,757,300
Capital contribution received							$ 950,000
Rockville, IL \| Preferred Equity Agreement \| Richard Hornstrom \| Preferred Equity Partners
Noncontrolling Interest [Line Items]
Capital contribution received						$ 724,800
Norfolk, VA \| Contribution Agreement \| LMB Owenton I LLC
Noncontrolling Interest [Line Items]
Acquisition of building					$ 2,264,000
Number of buildings acquired \| Building					1
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									$ 1,847,700
Number of buildings acquired \| Building									1
Modiv Portfolio [Member] \| LC2-NNN Pref LLC [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interest, description													The Preferred Interest has a cumulative accruing distribution preference of 15.5% per year, compounded monthly, a portion of which in the amount of 5% per annum (compounded monthly) is deemed to be the “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 GIP SPE operating agreement provides that operating distributions by GIP SPE will be made first to LC2 to satisfy any accrued but unpaid current preferred return, with the balance being paid to the Operating Partnership, unless the “annualized debt yield” of GIP SPE is less than 10%, in which case the balance will be paid to LC2. For this purpose, “annualized debt yield” is calculated as the sum of senior debt and LC2 Investment divided by the trailing three-month annualized adjusted net operating income (as defined in the GIP SPE Operating Agreement) of GIP SPE.
Payments to Acquire Trust Preferred Investments	$ 2,100,000
Proceeds from Previous Acquisition	$ 1,300,000
Modiv Portfolio [Member] \| Class A Preferred Units \| LC2-NNN Pref LLC [Member]
Noncontrolling Interest [Line Items]
Preferred Stock, Value, Issued											$ 12,000,000		$ 12,000,000
Payments to Acquire Trust Preferred Investments													$ 2,100,000

Equity - Additional Information

Equity - Additional Information (Details)						1 Months Ended		3 Months Ended						9 Months Ended
Equity - Additional Information (Details)	Jul. 24, 2024 $ / shares shares	Jun. 27, 2024 USD ($) $ / shares shares	Sep. 08, 2021 shares	Nov. 13, 2020 USD ($) $ / shares shares	Apr. 25, 2019 USD ($) $ / shares shares	Jun. 15, 2024 shares	Jan. 31, 2024 USD ($) shares	Sep. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2024 shares	Mar. 31, 2024 USD ($) shares	Sep. 30, 2023 USD ($) shares	Jun. 30, 2023 shares	Mar. 31, 2023 shares	Sep. 30, 2024 USD ($) TradingDay $ / shares shares	Sep. 30, 2023 USD ($) shares	Dec. 31, 2023 shares	Dec. 31, 2022 shares	Sep. 30, 2021 $ / shares
Class Of Stock [Line Items]
Common stock, shares authorized								100,000,000						100,000,000		100,000,000
Shares Issued Price Per Share \| $ / shares																		$ 10
Stock Issuance Costs \| $										$ 61,938				$ 77,421	$ 362,384
Undesignated preferred stock, shares authorized								2,400,000		2,400,000				2,400,000
Exchange Shares of Common Stock for redemption of Preferred Stock							2,794,597			2,794,597
Preferred stock, shares issued								10,000,000						10,000,000
Shares issued price per share \| $ / shares																		$ 10
Common warrants expiration term								2 years 6 months			3 years			2 years 6 months	3 years	2 years 8 months 12 days	3 years 8 months 12 days
Warrants outstanding								819,360			912,950			819,360	912,950	898,200	1,102,900
Class Of Warrants Or Right Exercised															912,950
Intrinsic value of the warrants \| $								$ 0			$ 0			$ 0	$ 0
Payable, Preferred Stock Redeemed \| $							$ 2,400,000
Stock based compensation expense \| $								$ 94,934			$ 284,805			$ 119,380	$ 287,067
Warrants to purchase shares of common stock								819,360			912,950			819,360	912,950
Contribution and Exchange Agreement [Member]
Class Of Stock [Line Items]
Number of common units issued	155,185
Restricted Shares
Class Of Stock [Line Items]
Number of shares granted														0	98,593
2020 Omnibus Incentive Plan
Class Of Stock [Line Items]
Reserves shares of common stock								2,000,000						2,000,000
Number of shares granted														158,840
Director \| Restricted Shares
Class Of Stock [Line Items]
Aggregate shares of common stock						61,275
Over-Allotment Option
Class Of Stock [Line Items]
Common stock issued														4,551
Class Of Warrants Or Right Exercised														45,510
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
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
Common Stock
Class Of Stock [Line Items]
Investor warrants exercised									3,333	4,551	1,694	6,653	10,648
Deferred financing costs \| $										$ 27,946
Common Stock \| Public Offering
Class Of Stock [Line Items]
Common stock issued			1,500,000
Common Stock \| Over-Allotment Option
Class Of Stock [Line Items]
Common stock issued			165,000
Additional Paid-In- Capital
Class Of Stock [Line Items]
Deferred financing costs \| $										11,609,670
Investor Warrants
Class Of Stock [Line Items]
Investor warrants exercised													106,480
Common stock issued													10,648
Warrants To Purchase Common Stock
Class Of Stock [Line Items]
Shares Issued Price Per Share \| $ / shares				$ 20	$ 20
Common stock issued amount \| $				$ 1,000,000	$ 1,000,000
Common stock issued				50,000	50,000
Number of warrants to purchase common stock				1	1
Shares issued price per share \| $ / shares				$ 20	$ 20
Common warrants exercisable price per share \| $ / shares				$ 20	$ 20
Common warrants expiration term				7 years	7 years
Class A Preferred Units
Class Of Stock [Line Items]
Dividends on preferred stock \| $							$ 95,000			$ (95,000)	$ (190,000)
Series A Preferred Stock [Member] \| Purchase And Sale Agreement [Member]
Class Of Stock [Line Items]
Shares Issued Price Per Share \| $ / shares		$ 5
Period of Increasing And Dreasing Per Share Price		2 years
Preferred Stock, Redemption Price Per Share \| $ / shares		$ 5.15
Preferred Stock Units Redeemed Multiplied		1.03
Share sold in transaction shares		500,000
Preferred Stock, Value, Issued \| $		$ 2,500,000
Shares issued price per share \| $ / shares		$ 5
Series A Preferred Stock [Member] \| June 27, 2024 Dividend [Member]
Class Of Stock [Line Items]
Dividends payable, amount per share \| $ / shares		$ 0.325
Series B Preferred Stock [Member]
Class Of Stock [Line Items]
Dividends payable, amount per share \| $ / shares	$ 0.117
Series B Preferred Stock [Member] \| Contribution and Exchange Agreement [Member]
Class Of Stock [Line Items]
Period of Increasing And Dreasing Per Share Price	2 years
Preferred Stock Units Redeemed Multiplied	0.01
Stock Issued During Period, Shares, Conversion of Units	155,185
Series B Preferred Stock [Member] \| Purchase And Sale Agreement [Member]
Class Of Stock [Line Items]
Preferred Stock, Redemption Price Per Share \| $ / shares	$ 7.15

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	Sep. 30, 2024
Class Of Warrant Or Right [Line Items]
Warrants Issued and Outstanding					819,360
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	404,510
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]
Issue Date			Nov. 13, 2020	Apr. 25, 2019
Exercise price			$ 20	$ 20
Warrants Issued and Outstanding			50,000	50,000

Equity - Summary of Warrants Ou

Equity - Summary of Warrants Outstanding (Details) - $ / shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Equity [Abstract]
Number of Warrants, Beginning balance	898,200	1,102,900
Number of Warrants, Exercised	(78,840)	(189,950)
Number of Warrants, Ending balance	819,360	912,950
Warrants exercisable	819,360	912,950
Weighted Average Price, Beginning balance	$ 11.53	$ 11.25
Weighted Average Price, Exercised	10	10
Weighted Average Price, Ending balance	11.61	11.51
Weighted Average Price, Warrants exercisable	$ 11.61	$ 11.51
Weighted Average Remaining Life, Beginning balance	2 years 8 months 12 days	3 years 8 months 12 days
Weighted Average Remaining Life, Ending balance	2 years 6 months	3 years
Weighted Average Remaining Life, Warrants exercisable	2 years 6 months	3 years

Equity - Schedule of Restricted

Equity - Schedule of Restricted Common Shares Issued (Details) - Restricted Shares - shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares Outstanding at beginning of the period	91,516	58,502
Restricted Shares Issued	0	98,593
Restricted Shares Vested	(43,364)	(46,213)
Number of Restricted Shares Outstanding at end of the period	48,152	110,882

Equity - Schedule of Cash Distr

Equity - Schedule of Cash Distributions (Details)	9 Months Ended
Equity - Schedule of Cash Distributions (Details)	Sep. 30, 2024 $ / shares
Authorized on June 3, 2024 [Member]
Dividends Payable [Line Items]
Board of Directors Authorized Date	Jun. 03, 2024
Record Date	Jun. 15, 2024
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.039
Authorized on May 3, 2024 [Member]
Dividends Payable [Line Items]
Board of Directors Authorized Date	May 03, 2024
Record Date	May 15, 2024
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.039
Authorized on April 4, 2024 [Member]
Dividends Payable [Line Items]
Board of Directors Authorized Date	Apr. 04, 2024
Record Date	Apr. 15, 2024
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.039
Authorized on January 3, 2024 [Member]
Dividends Payable [Line Items]
Board of Directors Authorized Date	Jan. 03, 2024
Record Date	Mar. 15, 2024
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.039
Authorized on January 3, 2024 [Member]
Dividends Payable [Line Items]
Board of Directors Authorized Date	Jan. 03, 2024
Record Date	Feb. 14, 2024
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.039
Authorized on January 3, 2024 [Member]
Dividends Payable [Line Items]
Board of Directors Authorized Date	Jan. 03, 2024
Record Date	Jan. 15, 2024
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.039
Authorized on October 3, 2023 [Member]
Dividends Payable [Line Items]
Board of Directors Authorized Date	Oct. 03, 2023
Record Date	Dec. 15, 2023
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.039
Authorized on October 3, 2023 [Member]
Dividends Payable [Line Items]
Board of Directors Authorized Date	Oct. 03, 2023
Record Date	Nov. 15, 2023
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.039
Authorized on October 3, 2023 [Member]
Dividends Payable [Line Items]
Board of Directors Authorized Date	Oct. 03, 2023
Record Date	Oct. 15, 2023
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.039
Authorized on July 3, 2023 [Member]
Dividends Payable [Line Items]
Board of Directors Authorized Date	Jul. 03, 2023
Record Date	Sep. 15, 2023
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.039
Authorized on July 3, 2023 [Member]
Dividends Payable [Line Items]
Board of Directors Authorized Date	Jul. 03, 2023
Record Date	Aug. 15, 2023
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.039
Authorized on July 3, 2023 [Member]
Dividends Payable [Line Items]
Board of Directors Authorized Date	Jul. 03, 2023
Record Date	Jul. 15, 2023
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.039
Authorized on April 3, 2023 [Member]
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
Authorized on April 3, 2023 [Member]
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
Authorized on April 3, 2023 [Member]
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
Authorized on January 3, 2023 [Member]
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

Mortgage Loans - Schedule of Pr

Mortgage Loans - Schedule of Promissory Notes (Details) - USD ($)			1 Months Ended	9 Months Ended
		Apr. 01, 2022	Apr. 30, 2022	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt, gross				$ 65,659,912
Promissory Notes
Debt Instrument [Line Items]
Interest Rate		3.85%	2.50%
Mortgages [Member]
Debt Instrument [Line Items]
Promissory note issued amount				63,045,913
Long-term debt, gross				59,707,452	$ 58,143,672
Less Debt Discount, net				(328,943)	(383,767)
Less: debt issuance costs, net				(827,677)	(942,595)
Long-term debt				58,550,832	56,817,310
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				$ 10,619,578	10,757,239
Mortgages [Member] \| GSA-Navy - Norfolk, Virginia
Debt Instrument [Line Items]
Promissory note issued amount	[2]			$ 8,260,000
Interest Rate				6.15%
Maturity date				Aug. 30, 2029
DSCR Required				1.25%
Long-term debt, gross				$ 7,165,788	7,341,804
Mortgages [Member] \| PRA Holdings, Inc. - Norfolk, Virginia
Debt Instrument [Line Items]
Promissory note issued amount	[2]			$ 5,216,749
Interest Rate				6.15%
Maturity date				Aug. 23, 2029
DSCR Required				1.25%
Long-term debt, gross				$ 4,439,827	4,562,722
Mortgages [Member] \| Sherwin-Williams - Tampa, Florida
Debt Instrument [Line Items]
Promissory note issued amount				$ 1,286,664
Interest Rate	[3]			3.72%
Maturity date				Aug. 10, 2028
DSCR Required				1.20%
Long-term debt, gross				$ 1,263,111	1,286,664
Mortgages [Member] \| GSA-FBI - Manteo, North Carolina
Debt Instrument [Line Items]
Promissory note issued amount	[4]			$ 928,728
Interest Rate	[5]			3.85%
Maturity date				Mar. 31, 2032
DSCR Required				1.50%
Long-term debt, gross				$ 896,924	913,958
Mortgages [Member] \| Irby Construction - Plant City , Florida
Debt Instrument [Line Items]
Promissory note issued amount	[4]			$ 928,728
Interest Rate	[5]			3.85%
Maturity date				Mar. 31, 2032
DSCR Required				1.50%
Long-term debt, gross				$ 896,924	913,958
Mortgages [Member] \| La Z Boy Inc Rockford Il Member
Debt Instrument [Line Items]
Promissory note issued amount				$ 2,100,000
Interest Rate	[5]			3.85%
Maturity date				Mar. 31, 2032
Long-term debt, gross				$ 2,028,087	2,066,604
Mortgages [Member] \| Best Buy - Grand Junction, Colorado
Debt Instrument [Line Items]
Promissory note issued amount	[4]			$ 2,552,644
Interest Rate	[5]			3.85%
Maturity date				Mar. 31, 2032
DSCR Required				1.50%
Long-term debt, gross				$ 2,465,231	2,512,050
Mortgages [Member] \| Fresenius - Chicago, Illinois
Debt Instrument [Line Items]
Promissory note issued amount	[4]			$ 1,727,108
Interest Rate	[5]			3.85%
Maturity date				Mar. 31, 2032
DSCR Required				1.50%
Long-term debt, gross				$ 1,667,965	1,699,642
Mortgages [Member] \| Starbucks - North Tampa, Florida
Debt Instrument [Line Items]
Promissory note issued amount	[4]			$ 1,298,047
Interest Rate	[5]			3.85%
Maturity date				Mar. 31, 2032
DSCR Required				1.50%
Long-term debt, gross				$ 1,253,596	1,277,404
Mortgages [Member] \| Kohls @ Tucson, Arizona
Debt Instrument [Line Items]
Promissory note issued amount	[4]			$ 3,964,745
Interest Rate	[5]			3.85%
Maturity date				Mar. 31, 2032
DSCR Required				1.50%
Long-term debt, gross				$ 3,828,975	3,901,694
Mortgages [Member] \| City Of San Antonio Prek San Antonio Tx Member
Debt Instrument [Line Items]
Promissory note issued amount	[6]			$ 6,444,000
Interest Rate	[3]			7.47%
Maturity date				Aug. 10, 2028
DSCR Required				1.50%
Long-term debt, gross				$ 6,347,784	6,416,362
Mortgages [Member] \| Dollar General Market Bakersfield Ca Member
Debt Instrument [Line Items]
Promissory note issued amount	[6]			$ 2,428,000
Interest Rate	[3]			7.47%
Maturity date				Aug. 10, 2028
DSCR Required				1.50%
Long-term debt, gross				$ 2,391,747	2,417,587
Mortgages [Member] \| Dollar General Big Spring Tx Member
Debt Instrument [Line Items]
Promissory note issued amount	[6]			$ 635,000
Interest Rate	[3]			7.47%
Maturity date				Aug. 10, 2028
DSCR Required				1.50%
Long-term debt, gross				$ 625,519	632,277
Mortgages [Member] \| Dollar General Castalia Oh Member
Debt Instrument [Line Items]
Promissory note issued amount	[6]			$ 556,000
Interest Rate	[3]			7.47%
Maturity date				Aug. 10, 2028
DSCR Required				1.50%
Long-term debt, gross				$ 547,698	553,615
Mortgages [Member] \| Dollar General East Wilton Me Member
Debt Instrument [Line Items]
Promissory note issued amount	[6]			$ 726,000
Interest Rate	[3]			7.47%
Maturity date				Aug. 10, 2028
DSCR Required				1.50%
Long-term debt, gross				$ 715,160	722,886
Mortgages [Member] \| Dollar General Lakeside Oh Member
Debt Instrument [Line Items]
Promissory note issued amount	[6]			$ 567,000
Interest Rate	[3]			7.47%
Maturity date				Aug. 10, 2028
DSCR Required				1.50%
Long-term debt, gross				$ 558,534	564,568
Mortgages [Member] \| Dollar General Litchfield Me Member
Debt Instrument [Line Items]
Promissory note issued amount	[6]			$ 624,000
Interest Rate	[3]			7.47%
Maturity date				Aug. 10, 2028
DSCR Required				1.50%
Long-term debt, gross				$ 614,683	621,324
Mortgages [Member] \| Dollar General Mount Gilead Oh Member
Debt Instrument [Line Items]
Promissory note issued amount	[6]			$ 533,000
Interest Rate	[3]			7.47%
Maturity date				Aug. 10, 2028
DSCR Required				1.50%
Long-term debt, gross				$ 525,042	530,714
Mortgages [Member] \| Dollar General Thompsontown Pa Member
Debt Instrument [Line Items]
Promissory note issued amount	[6]			$ 556,000
Interest Rate	[3]			7.47%
Maturity date				Aug. 10, 2028
DSCR Required				1.50%
Long-term debt, gross				$ 547,698	553,615
Mortgages [Member] \| Dollar Tree Stores Inc Morrow Ga Member
Debt Instrument [Line Items]
Promissory note issued amount	[6]			$ 647,000
Interest Rate	[3]			7.47%
Maturity date				Aug. 10, 2028
DSCR Required				1.50%
Long-term debt, gross				$ 637,340	644,225
Mortgages [Member] \| Exp U S Services Inc Exp U S Services Inc Member
Debt Instrument [Line Items]
Promissory note issued amount	[6]			$ 2,950,000
Interest Rate	[3]			7.47%
Maturity date				Aug. 10, 2028
DSCR Required				1.50%
Long-term debt, gross				$ 2,905,953	2,937,348
Mortgages [Member] \| General Services Administration Vacaville Ca Member
Debt Instrument [Line Items]
Promissory note issued amount	[6]			$ 1,293,000
Interest Rate	[3]			7.47%
Maturity date				Aug. 10, 2028
DSCR Required				1.50%
Long-term debt, gross				$ 1,273,694	1,287,454
Mortgages [Member] \| Walgreens Santa Maria Ca Member
Debt Instrument [Line Items]
Promissory note issued amount	[6]			$ 3,041,000
Interest Rate	[3]			7.47%
Maturity date				Aug. 10, 2028
DSCR Required				1.50%
Long-term debt, gross				$ 2,995,594	$ 3,027,958
Mortgages [Member] \| Best Buy Co., Inc. Ames, IA Member
Debt Instrument [Line Items]
Promissory note issued amount				$ 2,495,000
Interest Rate				6.29%
Maturity date				Aug. 23, 2029
DSCR Required				1.50%
Long-term debt, gross				$ 2,495,000

[1] (a) Loan subject to prepayment penalty (f) Debt has been modified to mature in August 2029 (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 % (e) One loan in the amount of $ 21.0 million secured by 13 properties and allocated to each property at the date of acquisition based on each property's appraised value.

Mortgage Loans - Schedule of _2

Mortgage Loans - Schedule of Promissory Notes (Parenthetical) (Details)		1 Months Ended
	Apr. 01, 2022 USD ($)	Apr. 30, 2022	Sep. 30, 2024 USD ($) Property	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Secured debt			$ 58,551,152	$ 56,817,310
Loan Agreements
Debt Instrument [Line Items]
Debt instrument, fixed interest rate			2.50%
Debt instrument, subject to a floor interest rate			3.85%
Loan Agreements \| 6 Properties [Member]
Debt Instrument [Line Items]
Secured debt			$ 11,400,000
Number of encumbered properties \| Property			6
Loan Agreements \| 13 Properties [Member]
Debt Instrument [Line Items]
Secured debt			$ 21,000,000
Number of encumbered properties \| Property			13
Promissory Notes
Debt Instrument [Line Items]
Interest rate	3.85%	2.50%
Secured debt	$ 2,100,000
Number of encumbered properties \| Property			6

Mortgage Loans- Additional Info

Mortgage Loans- Additional Information (Details)							1 Months Ended	3 Months Ended		9 Months Ended
Mortgage Loans- Additional Information (Details)	Jan. 01, 2024 USD ($)	Aug. 10, 2023 USD ($)	Oct. 14, 2022 USD ($)	Aug. 09, 2022 USD ($)	Jul. 20, 2022 USD ($)	Apr. 01, 2022 USD ($) Loan Property	Apr. 30, 2022	Sep. 30, 2024 USD ($) Property	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) Property Loan	Sep. 30, 2023 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Mar. 08, 2023 USD ($)	Sep. 13, 2022 USD ($)
Debt Instrument [Line Items]
Amortization of debt issuance costs										$ 156,091	$ 103,990
Payments of debt issuance costs											376,877
Long-term debt, gross								$ 65,659,912		65,659,912
Debt Instrument, Increase (Decrease), Net			$ 5,500,000
Other payable - related party								452,460		452,460			$ 1,809,840
Secured Debt								58,551,152		$ 58,551,152			56,817,310
Number Of Mortage Loan \| Loan						1				2
Accrued Expense								$ 0	$ 639	$ 0	506,639
Loan Agreements
Debt Instrument [Line Items]
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								$ 60,532	46,260	$ 156,091	103,990
Payments of debt issuance costs										$ 0	376,877
Loan to value required not interest rate										54%
Other payable - related party								$ 452,460		$ 452,460			$ 1,809,840
Secured Debt						$ 2,100,000
Number of encumbered properties \| Property								6		6
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%
Promissory Notes \| DC/Tampa/Huntsville Loan
Debt Instrument [Line Items]
Secured Debt								$ 10,600,000		$ 10,600,000
Promissory Notes \| Tampa Sherwin Williams Property
Debt Instrument [Line Items]
Secured Debt								$ 1,300,000		$ 1,300,000
Promissory Notes \| Promissory Notes Required 1.50 DSCR
Debt Instrument [Line Items]
Debt service coverage ratios								1.50%		1.50%
Promissory Notes \| Bayport Loans
Debt Instrument [Line Items]
Secured Debt								$ 11,600,000		$ 11,600,000
Other Payable Related Party Member
Debt Instrument [Line Items]
Long-term debt, gross								452,460		452,460
Brown Family Enterprises, LLC [Member]
Debt Instrument [Line Items]
Secured Non Convertible Promissory Note			$ 1,500,000
Interest rate on debt instrument			9%
GIP13, LLC [Member]
Debt Instrument [Line Items]
Interest rate on debt instrument		7.47%
GIP13, LLC [Member] \| Loan From Related Party [Member] \| Loan Agreements
Debt Instrument [Line Items]
Interest and principal payment due		$ 156,000
Interest rate		3.25%
GIP13, LLC [Member] \| Other Payable Related Party Member \| Loan Agreements
Debt Instrument [Line Items]
Long-term debt		$ 21,000,000
President And CEO [Member]
Debt Instrument [Line Items]
Guaranty fee expense	$ 385,395							96,652	81,022	304,245	196,304
Guaranty Fees Expense								102,023	$ 81,022	304,245	$ 196,304
Accrued Expense										96,652
Interest expense										0
President And CEO [Member] \| GIP13, LLC [Member] \| Loan From Related Party [Member] \| Loan Agreements \| Nonrecourse
Debt Instrument [Line Items]
Secured Debt		$ 7,500,000
Redemption Agreement [Member]
Debt Instrument [Line Items]
Issuance of Other payable - related party for redemption of Redeemable Non-Controlling Interest				$ 2,912,300	$ 2,912,299
Other payable - related party								452,460		452,460
First installment payment								2,459,840		2,459,840		$ 2,459,840		$ 2,459,840	$ 2,459,840
Two Mortgage Loan Agreements [Member]
Debt Instrument [Line Items]
Long-term debt, gross						$ 2,079,178
Debt Discount						383,767
Aggregate amount of loan						2,100,000
Two Mortgage Loan Agreements [Member] \| Promissory Notes
Debt Instrument [Line Items]
Secured Debt						$ 11,400,000		$ 13,500,000		$ 13,500,000
Interest Rate Swap [Member] \| GIP13, LLC [Member] \| Loan From Related Party [Member] \| Loan Agreements
Debt Instrument [Line Items]
Interest rate		7.47%
Interest Rate Floor [Member] \| Promissory Notes
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate During Period						3.85%

Mortgage Loans - Schedule of Mi

Mortgage Loans - Schedule of Minimum Required Principal Payments (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
2024 (3 months remaining)	$ 770,089
2025	1,236,176
2026	6,819,320
2027	1,422,520
2028	21,757,610
Thereafter	33,654,197
Long-term debt, gross	65,659,912
Mortgages [Member]
Debt Instrument [Line Items]
2024 (3 months remaining)	317,629
2025	1,236,176
2026	1,319,320
2027	1,422,520
2028	21,757,610
Thereafter	33,654,197
Long-term debt, gross	59,707,452	$ 58,143,672
Other Payable Related Party Member
Debt Instrument [Line Items]
2024 (3 months remaining)	452,460
2025	0
2026	0
2027	0
2028	0
Thereafter	0
Long-term debt, gross	452,460
Loan Payable Related Party Member
Debt Instrument [Line Items]
2024 (3 months remaining)	0
2025	0
2026	5,500,000
2027	0
2028	0
Thereafter	0
Long-term debt, gross	$ 5,500,000

Related Party - Additional Info

Related Party - Additional Information (Details)					3 Months Ended		9 Months Ended
Related Party - Additional Information (Details)	Jan. 01, 2024 USD ($)	Jul. 21, 2023 USD ($)	Aug. 09, 2022 USD ($)	Jul. 20, 2022 USD ($)	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2023 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($) $ / shares shares	Mar. 08, 2023 USD ($)	Oct. 14, 2022 USD ($)	Sep. 13, 2022 USD ($)	Nov. 30, 2020 USD ($) ft²
Related Party Transaction [Line Items]
Accrued expenses					$ 1,383,743		$ 1,383,743			$ 688,146
Common Stock Shares Issued \| shares					5,419,855		5,419,855			2,620,707
Due To Other Related Parties Noncurrent Agreement					$ 452,460		$ 452,460			$ 1,809,840
Common stock, par value \| $ / shares					$ 0.01		$ 0.01			$ 0.01
Additional paid-in capital					$ 29,129,543		$ 29,129,543			$ 18,472,049
Brown Family Enterprises, LLC
Related Party Transaction [Line Items]
Secured Non Convertible Promissory Note												$ 1,500,000
Interest rate on debt instrument												9%
Promissory note, loan		$ 5,500,000
Redemption Agreement [Member]
Related Party Transaction [Line Items]
Common Stock Shares Issued \| shares					200,000		200,000
Issuance of Other payable - related party for redemption of Redeemable Non-Controlling Interest			$ 2,912,300	$ 2,912,299
First installment payment					$ 2,459,840		$ 2,459,840		$ 2,459,840		$ 2,459,840		$ 2,459,840
Due To Other Related Parties Noncurrent Agreement					$ 452,460		$ 452,460
Common stock, par value \| $ / shares					$ 6		$ 6
Additional paid-in capital					$ 1,198,000		$ 1,198,000
Common Stock \| Redemption Agreement [Member]
Related Party Transaction [Line Items]
Common stock, par value \| $ / shares					$ 2,000		$ 2,000
President And Ceo [Member]
Related Party Transaction [Line Items]
Guaranty fee expense	$ 385,395				$ 96,652	$ 81,022	$ 304,245	$ 196,304
Accrued expenses					$ 96,652		96,652
Interest expense							$ 0
GIP fund 1, LLC
Related Party Transaction [Line Items]
Ownership percentage					0.09%		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
GIP fund 1, LLC \| President \| Building In Tampa FL
Related Party Transaction [Line Items]
Percentage of ownership owned														11%

Derivative Financial Instrume_3

Derivative Financial Instruments and Fair Value Measurements (Additional Information) (Details) - USD ($)			3 Months Ended		9 Months Ended
	Aug. 10, 2023	Nov. 30, 2020	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative [Line Items]
Loss on Derivative			$ (308,570)	$ (78,969)	$ (734,116)	$ (78,969)
Derivative liability			809,339		809,339
Derivative asset			$ 152,369		$ 152,369
Swap
Derivative [Line Items]
Secured Debt		$ 1,300,000
Debt Instrument Basis Spread On Variable Rate1		2.75%
Interest rate on debt instrument		3.72%
GIP13, LLC
Derivative [Line Items]
Secured Debt	$ 21,000,000
Debt Instrument Basis Spread On Variable Rate1	3.25%
Interest rate on debt instrument	7.47%

Derivative Financial Instrume_4

Derivative Financial Instruments and Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Financial assets:
Carrying Amount	$ 152,369
Financial liabilities:
Carrying Amount	809,339
Cash and cash equivalents \| Level 3
Financial assets:
Carrying Amount	1,547,110	$ 3,117,446
Fair Value	1,547,110	3,117,446
Restricted cash \| Level 3
Financial assets:
Carrying Amount	34,500	34,500
Fair Value	34,500	34,500
Interest rate swaps \| Level 3
Financial assets:
Carrying Amount	152,369	135,642
Fair Value	152,369	135,642
Financial liabilities:
Carrying Amount	809,339	537,424
Fair Value	$ 809,339	$ 537,424

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - Contribution and Exchange Agreement	Jul. 24, 2024 shares
Subsequent Event [Line Items]
Number of common units issued	155,185
Series B-1 Preferred Stock [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, Conversion of Units	155,185
Period of Increasing And Dreasing of Per Share Price	2 years
Preferred Stock Units Redeemed Multiplied	0.01