Generation Income Properties (GIPR) 10-K 18 Mar 22 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Mar. 10, 2022
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float	$ 12.4
Entity Common Stock, Shares Outstanding		2,199,786
Auditor Firm ID	206
Auditor Name	MaloneBailey, LLP
Auditor Location	Houston, Texas
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s definitive proxy statement for its 2022 annual meeting of stockholders, which the registrant intends to file pursuant to Regulation 14A with the Securities and Exchange Commission not later than 120 days after the registrant’s fiscal year ended December 31, 2021, are incorporated by reference into Part III of this Annual Report on Form 10-K.
Common Stock Par Value $0.01 Per Share
Document 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 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 ($)	Dec. 31, 2021	Dec. 31, 2020
Investment in real estate
Property	$ 41,025,309	$ 37,352,447
Tenant improvements	482,701	482,701
Acquired lease intangible assets	3,304,014	3,014,149
Less accumulated depreciation and amortization	(3,512,343)	(2,317,454)
Total investments	41,299,681	38,531,843
Investment in tenancy-in-common	725,082
Cash and cash equivalents	10,589,576	937,564
Restricted cash	34,500	184,800
Deferred rent asset	156,842	126,655
Prepaid expenses	237,592	134,165
Deferred financing costs		614,088
Accounts receivable	88,661	75,794
Escrow deposit and other assets	288,782	75,831
Total Assets	53,420,716	40,680,740
Liabilities
Accounts payable	201,627	118,462
Accounts payable - related party	100
Accrued expenses	134,816	406,125
Acquired lease intangible liability, net	577,388	415,648
Insurance payable	33,359	40,869
Deferred rent liability	228,938	188,595
Note Payable - related party		1,100,000
Mortgage loans, net of unamortized discount of $637,693 and $689,190 at December 31, 2021 and December 31, 2020, respectively	28,969,295	28,356,571
Total liabilities	30,145,523	30,626,270
Redeemable Non-Controlling Interests	9,621,159	8,684,431
Stockholders' Equity
Common stock, $0.01 par value, 100,000,000 shares authorized; 2,172,950 shares issued and outstanding at December 31, 2021 and 576,918 issued and outstanding at December 31, 2020	21,729	5,770
Additional paid-in capital	19,051,929	5,541,411
Accumulated deficit	(5,419,624)	(4,177,142)
Total Generation Income Properties, Inc. stockholders' equity	13,654,034	1,370,039
Total Liabilities and Stockholders' Equity	$ 53,420,716	$ 40,680,740

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	2,172,950	576,918
Common stock, shares outstanding	2,172,950	576,918
Mortgage Loans
Mortgage loans, net of unamortized discount	$ 637,693	$ 689,190

Consolidated Statements of Oper

Consolidated Statements of Operations (unaudited) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenue
Total Revenue	$ 3,900,096	$ 3,520,376
Expenses
General, administrative and organizational costs	1,111,029	817,671
Building expenses	768,182	711,446
Depreciation and amortization	1,508,340	1,452,556
Interest expense, net	1,310,950	1,400,129
Compensation costs	849,701	483,189
Total expenses	5,548,202	4,864,991
Operating loss	(1,648,106)	(1,344,615)
Gain on investment in tenancy-in-common	12,495
Gain on disposal of property	923,178
Net Loss	(712,433)	(1,344,615)
Less: Net income attributable to non-controlling interest	530,049	487,038
Net Loss attributable to Generation Income Properties, Inc.	$ (1,242,482)	$ (1,831,653)
Total Weighted Average Shares of Common Stock Outstanding – Basic	1,067,599	532,281
Total Weighted Average Shares of Common Stock Outstanding – Diluted	1,067,599	532,281
Basic Loss Per Share Attributable to Common Stockholders	$ (1.16)	$ (3.44)
Diluted Loss Per Share Attributable to Common Stockholders	$ (1.16)	$ (3.44)
Rental Income
Revenue
Total Revenue	$ 3,854,846	$ 3,520,376
Other Income
Revenue
Total Revenue	$ 45,250

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (unaudited) - USD ($)	Total	Common Stock Par Value $0.01 Per Share	Additional Paid-In- Capital	Accumulated Deficit
Balance at Dec. 31, 2019	$ 2,433,403	$ 5,253	$ 4,773,639	$ (2,345,489)
Balance, Shares at Dec. 31, 2019		525,250
Redeemable Non-Controlling Interest, Balance at Dec. 31, 2019	8,198,251
Restricted stock unit compensation	101,645	$ 17	101,628
Restricted stock unit compensation, Shares		1,668
Issuance of Redeemable Operating Partnership Units for property acquisition	486,180
Common stock issued for cash	1,000,000	$ 500	999,500
Common stock issued for cash, Shares		50,000
Distribution on Redeemable Non-Controlling Interest	(487,038)
Dividends paid on Common Stock	(333,356)		(333,356)
Net income (loss) for the year	(1,831,653)			(1,831,653)
Redeemable Non-Controlling Interest, Net income (loss) for the year	487,038
Balance at Dec. 31, 2020	1,370,039	$ 5,770	5,541,411	(4,177,142)
Balance, Shares at Dec. 31, 2020		576,918
Redeemable Non-Controlling Interest, Balance at Dec. 31, 2020	8,684,431
Restricted stock unit compensation	201,690	$ 285	201,405
Restricted stock unit compensation, Shares		28,582
Issuances of Redeemable Non-Controlling Interests for property acquisitions	2,100,000
Common stock issued for services	123,432	$ 149	123,283
Common stock issued for services, shares		14,950
Issuance of equity securities for cash, net of issuance costs	13,761,769	$ 16,650	13,745,119
Issuance of equity securities for cash, net of issuance costs, Shares		1,665,000
Redemption of common stock	(100)	$ (1,125)	1,025
Redemption of common stock, shares		(112,500)
Redemption of Redeemable Non-Controlling Interest	(1,200,000)
Distribution on Redeemable Non-Controlling Interest	(493,321)
Dividends paid on Common Stock	(560,314)		(560,314)
Net income (loss) for the year	(1,242,482)			(1,242,482)
Redeemable Non-Controlling Interest, Net income (loss) for the year	530,049
Balance at Dec. 31, 2021	13,654,034	$ 21,729	$ 19,051,929	$ (5,419,624)
Balance, Shares at Dec. 31, 2021		2,172,950
Redeemable Non-Controlling Interest, Balance at Dec. 31, 2021	$ 9,621,159

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
CASHFLOWS FROM OPERATING ACTIVITIES
Net loss	$ (712,433)	$ (1,344,615)
Adjustments to reconcile net loss to cash (used) provided by operating activities:
Depreciation	1,078,854	1,041,222
Amortization of acquired lease intangible assets	429,486	411,334
Amortization of debt issuance costs	120,343	134,898
Amortization of below market leases	(147,228)	(109,496)
Common stock issued for services	112,432
Restricted stock unit compensation	201,690	101,645
Equity in earnings on investment in tenancy-in-common	(12,495)
Gain on sale of property	(923,178)
Changes in operating assets and liabilities:
Accounts receivable	(12,867)	(1,946)
Other assets	(37,951)	(65,224)
Deferred rent asset	(30,187)	(61,553)
Prepaid expenses	(103,427)	(56,157)
Accounts payable	83,165	35,525
Accrued expenses	(260,309)	72,030
Deferred rent liability	40,343	98,996
Net cash (used) provided by operating activities	(173,762)	256,659
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of land, buildings, other tangible and intangible assets	(8,288,954)	(272,849)
Escrow deposit for purchase of properties	(175,000)
Distribution from tenancy-in-common	12,243
Investment in tenancy-in-common	(724,830)
Proceeds from sale of land, buildings, other tangible and intangible assets	5,245,856
Net cash used in investing activities	(3,930,685)	(272,849)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of equity securities, net	14,375,857	1,000,000
Proceeds from issuance of redeemable interest	2,100,000
Mortgage loan repayments - related party	(1,100,000)	(800,000)
Redemption of redeemable non-controlling interests	(1,200,000)
Mortgage loan borrowings	4,475,000	11,287,500
Mortgage loan repayments	(3,913,773)	(10,108,205)
Deferred financing costs paid in cash		(215,248)
Debt issuance costs paid in cash	(69,780)	(589,133)
Insurance financing borrowings	277,059	189,153
Insurance financing repayments	(284,569)	(203,484)
Distribution on redeemable non-controlling interests	(493,321)	(487,038)
Dividends paid on common stock	(560,314)	(333,356)
Net cash generated from (used in) financing activities	13,606,159	(259,811)
Net increase (decrease) in cash and cash equivalents	9,501,712	(276,001)
Cash and cash equivalents and restricted cash - beginning of period	1,122,364	1,398,365
Cash and cash equivalents and restricted cash - end of period	10,624,076	1,122,364
CASH TRANSACTIONS
Interest Paid	1,192,251	1,245,012
NON-CASH TRANSACTIONS
Stock issued for accrued liabilities	11,000
Deferred financing costs incurred on account		224,000
Deferred distribution on redeemable non-controlling interests	$ 36,729
Debt assumed related to asset acquisition		486,180
Accounts payable - related party for redemption of common stock shares		$ 1,286,664

Nature of Operations

Nature of Operations	12 Months Ended
	Dec. 31, 2021
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. The Company is the general partner of the Operating Partnership and as of December 31, 2021 owned 85.3% of the outstanding common units of the Operating Partnership. The Company formed a Maryland entity GIP REIT OP Limited LLC in 2018 that owns 0.002% of the Operating Partnership. The Company places each property in a separate entity which may have a Redeemable Non-Controlling interest as a member. As of December 31, 2021, the Company, the Operating Partnership, and their controlled subsidiaries on a consolidated basis owned 9 properties and held partial interests in one additional property through a tenancy-in-common investment.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 – Summary of Significant Accounting Policies Basis of Presentation The preparation of the consolidated financial statements in conformity with U.S. GAAP. The Company adopted the calendar year as its basis of reporting. Certain prior year amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations. The Company generally rounds to the nearest hundred in the footnotes. 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. generally accepted accounting principles (“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 held by the Company related to tenant escrow reimbursements and immediate 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: December 31, December 31, 2021 2020 Cash and cash equivalents $ 10,589,576 $ 937,564 Restricted cash 34,500 184,800 Total cash and cash equivalents and restricted cash $ 10,624,076 $ 1,122,364 Revenue Recognition We have determined that all of our leases should be accounted for as operating leases. The Company leases real estate to its tenants under long-term net leases which we account for as operating leases. Under this method, leases that have fixed and determinable rent increases are recognized on a straight-line basis over the lease term. Certain leases also provide for additional rent based on tenants’ sales volumes. These rents are recognized when determinable after the tenant exceeds a sales breakpoint. Recognizing rent escalations on a straight-line method results in rental revenue in the early years of a lease being higher than actual cash received, creating a straight-line rent asset. Conversely, when actual cash collected is greater than the amount recognized on a straight-line basis, the difference is recognized as a liability. To the extent any of the tenants under these leases become unable to pay their contractual cash rents, the Company may be required to write down the straight-line rent receivable from those tenants, which would reduce rental income. Deferred rent asset as of December 31, 2021 and December 31, 2020 was approximately $ 156,800 126,700 228,900 188,600 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 collectability exists with respect to any tenant changes, the Company recognizes an adjustment to rental income. The Company’s review of collectability of charges under its operating leases includes any accrued rental revenues related to the straight-line method of reporting rental revenue. There were no allowances for receivables recorded for the year ended December 31, 2021 or 2020. The Company’s leases provide for reimbursement from tenants for common area maintenance (“CAM”), insurance, real estate taxes and other operating expenses. 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 over the Other Income The Company earned an acquisition fee equal to one percent of the sale price of $4,525,000 upon the closing of the purchase of the property in Rockford, IL which is reported as other income. The property is held as an investment in common. Refer to Note 11 for more information. 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 in the Company’s Consolidated Statements of Operations based on their fair values determined 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. Real Estate Acquisitions of real estate are recorded at cost. Real Estate Purchase Price Assignment 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 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. The Company assessed whether the purchase of the building falls within the definition of a business under ASC 805 and concluded that all asset transactions were an asset acquisition, therefore it was recorded at the purchase price, including capitalized acquisition costs, which is allocated to land, building, 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 lease is the estimated cost to replace the leases (including loss of rent, estimated commissions and legal fees paid in similar leases). The capitalized in-place leases are amortized over the remaining team of the leases as amortization expense. The fair value of the above or below market lease is 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. For additional information, see Note 4 - Acquired Lease Intangible Asset, net and Note 5 - Acquired Lease Intangible Liability, net. 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 26 and 50 years, tenant improvements, which are generally between 2 and 10 years. Depreciation expense for the year ended December 31, 2021 and 2020 was approximately $ 1,078,900 1,041,200 Income Taxes The Company intends to operate and be taxed as a real estate investment trust (“REIT”) under Section 856 through 860 of the Internal Revenue Code (“Code”), commencing with our taxable year ending December 31, 2021. 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. We account for deferred income taxes using the asset and liability method and recognize deferred tax assets and liabilities for the expected future tax consequences of events that have been included in our financial statements or tax returns. Under this method, we determine deferred tax assets and liabilities based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Any increase or decrease in the deferred tax liability that results from a change in circumstances, and that causes us to change our judgment about expected future tax consequences of events, is included in the tax provision when such changes occur. Deferred income taxes also reflect the impact of operating loss and tax credit carryforwards. A valuation allowance is provided if we believe it is more likely than not that all or some portion of the deferred tax asset will not be realized. Any increase or decrease in the valuation allowance that results from a change in circumstances, and that causes us to change our judgment about the realizability of the related deferred tax asset, is included in the tax provision when such changes occur. 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 judgement changes as a result of new information. Earnings per Share In accordance with ASC 260, basic earnings/loss per share (“EPS”) is computed by dividing net loss attributable to the Company that is available to common stockholders by the weighted average number of common shares outstanding during the period, excluding the effects of any potentially dilutive securities. Diluted EPS gives effect to all dilutive potential of shares of common stock outstanding during the period including stock warrants, using the treasury stock method (by using the average stock price for the period to determine the number of shares assumed to be purchased from the exercise of warrants), and convertible debt, using the if-converted method. Diluted EPS excludes all potentially dilutive securities such as warrants, options, restricted stock, and restricted stock units if their effect is anti-dilutive. As of December 31, 2021 and December 31, 2020, all potentially dilutive securities were excluded because the effect was anti-dilutive. Impairments The Company reviews real estate investments and related lease intangibles, for possible impairment when certain events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable though operations plus estimated disposition proceeds. Events or changes in circumstances that may occur include, but are not limited to, significant changes in real estate market conditions, estimated residual values, and an expectation to sell assets before the end of the previously estimated life. Impairments are measured to the extent the current book value exceeds the estimated fair value of the asset less disposition costs for any assets classified as held for sale. There were no impairments during the year ended December 31, 2021 or 2020. 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. Deferred Financing Costs Since inception the Company incurred approximately $1,279,800 of costs associated with the Company’s public equity raise that closed on September 8, 2021. These deferred offering costs were reclassified to additional paid in capital in connection with the successful offering during the year ended December 31,2021. Recent Accounting Pronouncements In July 2021, the Financial Accounting Standards Board (FASB) issued ASU 2021-05 establishing Topic 842, Lessors – Certain Leases with Variable Lease Payments

Investments in Real Estate

Investments in Real Estate	12 Months Ended
	Dec. 31, 2021
Real Estate [Abstract]
Investments in Real Estate	Note 3 – Investments in Real Estate Acquisitions: During the year ended December 31, 2021, the Company acquired three properties. Manteo, NC Plant City, FL Grand Junction, CO Total Property $ 2,149,015 $ 1,635,824 $ 4,400,452 $ 8,185,291 Acquired lease intangible assets 100,379 121,509 354,603 576,491 Total investments 2,249,394 1,757,333 4,755,055 8,761,782 Less acquired lease intangible liability 511,620 — — 511,620 Total investments $ 1,737,774 $ 1,757,333 $ 4,755,055 $ 8,250,162 The first property is located in Manteo, NC and was purchased on February 11, 2021 using a $500,000 cash capital contribution through the issuance of a redeemable non-controlling interest and debt of $1,275,000. The second property is located in Plant City, FL and was purchased on April 21, 2021 using a $950,000 cash capital contribution through the issuance of a redeemable non-controlling interest and debt of $850,000. The third property is located in Grand Junction, CO and was purchased on December 28, 2021 using cash on hand of approximately $2,405,000 and debt of $2,350,000. The acquisitions are accounted for as asset acquisitions under ASC 805-50, Business Combinations. The purchase price of the asset acquisitions were allocated to land, building, and acquired lease intangible assets and liabilities based on management’s estimate. During the year ended December 31, 2020, the Company acquired one property. Tampa, FL Property $ 1,662,904 Acquired lease intangible assets 184,767 Total investments $ 1,847,671 The property is located in Tampa, FL and was purchased on November 30, 2020 from a related party for 24,309 common units in the Operating Partnership at a $20.00 per unit price valued in total for approximately $486,200, $1,000 in cash and the assumption of approximately $1,286,700 in existing debt. The Company’s president owns 10% of the related party. The acquisition is accounted for as asset acquisition under ASC 805-50, Business Combinations. The purchase price of the asset acquisition was allocated to land, building, and acquired lease intangible assets based on management’s estimate. Dispositions: During the year ended December 31, 2021, the Company sold one property. Cocoa, FL Property $ 4,539,617 Acquired lease intangible assets 298,230 Total investments 4,837,847 Less accumulated depreciation and amortization (313,447 ) Less acquired lease intangible liability, net (202,650 ) Net book value of property upon sale $ 4,321,750 The property was located in Cocoa, FL and was sold on August 31, 2021 for approximately $5,245,900 and recognized a gain of approximately $923,200.

Acquired Lease Intangible Asset

Acquired Lease Intangible Assets, Net	12 Months Ended
	Dec. 31, 2021
Intangible Assets Net Excluding Goodwill [Abstract]
Acquired Lease Intangible Assets, Net	Note 4 – Acquired Lease Intangible Assets, net Intangible assets, net is comprised of the following: December 31, December 31, 2021 2020 Acquired lease intangible assets $ 3,304,014 $ 3,014,149 Accumulated amortization (994,857 ) (624,106 ) Acquired lease intangible assets, net $ 2,309,157 $ 2,390,043 The amortization for lease intangible assets for the year ended December 31, 2021 and 2020 was approximately $429,500 and $411,300, respectively. The future amortization for intangible assets is listed below: As of December 31, 2021 2022 $ 346,000 2023 339,700 2024 339,700 2025 306,600 2026 296,200 Thereafter 681,000 $ 2,309,200

Acquired Lease Intangible Liabi

Acquired Lease Intangible Liabilities, Net	12 Months Ended
	Dec. 31, 2021
Below Market Lease [Abstract]
Acquired Lease Intangible Liabilities, Net	Note 5 – Acquired Lease Intangible Liabilities, net Acquired lease intangible liability is comprised of the following: December 31, December 31, 2021 2020 Acquired lease intangible liability $ 845,063 $ 585,792 Less: recognized rental income (267,675 ) (170,144 ) Total below market lease, net $ 577,388 $ 415,648 The amortization for below market leases for the year ended December 31 2021 and 2020 was approximately $147,200 $109,500 The future amortization for intangible liabilities is listed below: As of December 31, 2021 2022 $ 86,700 2023 86,700 2024 86,700 2025 86,700 2026 76,200 Thereafter 154,400 $ 577,400

Redeemable Non-Controlling Inte

Redeemable Non-Controlling Interests	12 Months Ended
	Dec. 31, 2021
Noncontrolling Interest [Abstract]
Redeemable Non-Controlling Interests	Note 6 – Redeemable Non-Controlling Interests The following table reflects our Redeemable Non-Controlling Interests: Brown Family Trust Irby Prop Partners Hornstrom GIP Fund I Greenwal L.C. Riverside Crossing L.C. Total Balance, December 31, 2019 $ 1,200,000 $ — $ — $ — $ 4,965,000 $ 2,033,251 $ 8,198,251 Issuance of Redeemable Operating Partnership Units for property acquisition — — — 486,180 — — 486,180 Distribution on Redeemable Non-Controlling Interest (119,630 ) — — — (260,663 ) (106,745 ) (487,038 ) Net income for the year 119,630 — — — 260,663 106,745 487,038 Balance, December 31, 2020 $ 1,200,000 $ — $ — $ 486,180 $ 4,965,000 $ 2,033,251 $ 8,684,431 Issuances of Redeemable Non-Controlling Interests for property acquisitions 500,000 950,000 650,000 — — — 2,100,000 Redemption of Redeemable Non-Controlling Interest for property disposition (1,200,000 ) — — — — — (1,200,000 ) Distribution on Redeemable Non-Controlling Interest (120,971 ) (53,511 ) (19,945 ) (14,584 ) (82,550 ) (201,760 ) (493,321 ) Net income for the year 120,971 80,267 29,917 14,584 82,550 201,760 530,049 Balance, December 31, 2021 $ 500,000 $ 976,756 $ 659,972 $ 486,180 $ 4,965,000 $ 2,033,251 $ 9,621,159 As part of the Company’s acquisition of a building for approximately $4,578,800 in Cocoa, FL, one of the Company’s operating subsidiaries entered into a preferred equity agreement with Brown Family Trust on September 11, 2019 pursuant to which the Company’s subsidiary received a capital contribution of $1,200,000. Pursuant to the agreement, the Company was required to pay the preferred equity member a 10% internal rate of return (“IRR”) on a monthly basis and redeem the entire amount due after 24 months at the option of the preferred equity member. The Operating Partnership, Generation Income Properties, LP, was the general manager of the subsidiary while Brown Family Trust was a preferred member. Because of the redemption right, the non-controlling interest was presented as temporary equity at redemption value. The Company redeemed the Brown Family Trust $1,200,000 Redeemable Non-Controlling Interest upon the sale property in August 2021. As part of the Company’s acquisition of a building 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. Pursuant to the agreement, the Company will pay the preferred equity member a 9% IRR on a monthly basis and redeem the entire amount due after 24 months at the option of the preferred equity member. The Operating Partnership, Generation Income Properties, LP, is the general manager of the subsidiary while Brown Family Trust is a preferred member. Because of the redemption right, the non-controlling interest in presented as temporary equity at redemption value. The current redemption amount is $500,000. Distributable operating funds are distributed first to Brown Family Trust until the unpaid preferred return is paid off and then to the Company. For the year ended December 31, 2021 and 2020, the Company paid these Redeemable Interests approximately $121,000 and $119,600 , respectively in preferred distributions for these two agreements with Brown Family Trust. As part of the Company’s acquisition of a building for approximately $1,757,300 in Plant City, FL, one of the Company’s operating subsidiaries entered into a preferred equity agreement with preferred equity partners (Irby Prop Partners) on April 21, 2021 pursuant to which the Company’s subsidiary received a capital contribution of $950,000. Pursuant to the agreement, the Company will pay the preferred equity member a 12% total IRR with an 8% IRR paid on a monthly basis and the deferred IRR will be paid at the end of 24 months along with the entire $950,000 amount due after 24 months at the option of the preferred equity member. The Operating Partnership, Generation Income Properties, LP, is the general manager of the subsidiary. Because of the redemption right, the non-controlling interest in presented as temporary equity at redemption value. The current redemption amount is approximately $976,800. Distributable operating funds are distributed first to the preferred equity partners until the unpaid preferred return is paid off and then to the Company. For the year ended December 31, 2021, the Company paid these Redeemable Interests approximately $53,500 in distributions and accrued $26,700 of the deferred IRR. As part of the Company’s investment in a tenant in common entity for $0.7 million in Rockford, IL, one of the Company’s operating subsidiaries entered into a preferred equity agreement with preferred equity partner (Mr. Hornstrom) on August 2, 2021 pursuant to which the Company’s subsidiary received a capital contribution of $ 650,000 . Pursuant to the agreement, the Company will pay the preferred equity member a 12 % total IRR with an 8 % IRR paid on a monthly basis and the deferred IRR will be paid at the end of 24 months along with the entire $ 650,000 amount due after 24 months at the option of the preferred equity member. The Operating Partnership, Generation Income Properties, LP, is the general manager of the subsidiary. Because of the redemption right, the non-controlling interest in presented as temporary equity at redemption value. The current redemption amount is approximately $ . Distributable operating funds are distributed first to the preferred equity partners until the unpaid preferred return is paid off and then to the Company. Each of the Preferred Members described above may redeem their interest on or after the Redemption date (second year anniversary of the Closing), 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 Price in the form of GIPLP UNITS. Such GIPLP UNITS shall be subject to all such restrictions, such as with respect to transferability, as reasonably imposed by GIPLP. The number of GIPLP UNITS issued to any Preferred Member shall be determined by dividing the total amount of the Redemption Price that such Preferred Member shall receive in GIPLP UNITS by a 15% discount of the average 30-day market price of Generation Income Properties, Inc. 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 Generation Income Properties, L.P. For the year ended December 31, 2021, the Company paid these Redeemable Interests approximately $19,900 in distributions accrued $10,000 of the deferred IRR. As part of the Company’s acquisition of two buildings on September 30, 2019 for $19.1 million in Norfolk, VA, the Operating Partnership entered into contribution agreements with two entities (Greenwal, LC and Riverside Crossing, L.C.) that resulted in the issuance of 349,913 common units in Operating Partnership at $20.00 per share for a total value of $6,998,251 or as of December 31, 2021 a 13.8% interest in our Operating Partnership. The contribution agreement allows 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 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 $20.00 per share of common stock of the Company, as set forth on the Notice of Redemption. As such, the Company has determined their equity should be classified as a Redeemable Non-Controlling Interest. As part of the Company’s acquisition of one building on November 30, 2020 for $1.8 million in Tampa, FL, the Operating Partnership entered into a contribution agreement with one entity (GIP Fund I) that resulted in the issuance of 24,309 common units in Operating Partnership at $20.00 per share for a total value of $486,180 or as of December 31, 2021 a 1.0% interest in our Operating Partnership. The Company’s President owns 10% of GIP Fund I. The contribution agreement allows 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 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 $20.00 per share of common stock of the Company, as set forth on the Notice of Redemption. As such, the Company has determined their equity should be classified as a Redeemable Non-Controlling Interest.

Equity

Equity	12 Months Ended
	Dec. 31, 2021
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 of undesignated preferred stock. No preferred shares have been issued as of the date of this report. Holders of the Company’s common stock are entitled to receive dividends when authorized by the Company’s Board of Directors. Issuance of Equity Securities for Cash On November 13, 2020, the Company raised $1,000,000 by issuing 50,000 Units with each Unit being comprised of one share of its Common Stock, and one warrant to purchase one share of its Common Stock. Each Unit was sold for a price of $20.00 per Unit. The shares of the Company’s Common Stock and warrants included in the Units, were offered together, but the securities included in the Units are issued separately. The warrants are exercisable at a price of $20.00 per share of Common Stock, subject to adjustment in certain circumstances, and will expire seven years from the date of issuance. On September 8, 2021, the Company On September 30, 2021, the Company issued and sold as part of the underwriter’s Over-Allotment Option an additional 165,000 Units. The units were sold to the public at the price of $10.00 per unit and generated net proceeds of $ million, net of underwriter discounts and other financing costs incurred since inception. 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 . As part of the Public Offering, on September 8, 2021, the Company entered into an agreement with the CEO to redeem 112,500 shares of common stock for $100 which is recorded in accounts payable – related party at December 31, 2021. As of December 31, 2021, these shares had been physically returned to our transfer agent and cancelled. In addition, the Company issued to Maxim Group LLC (or its designee) warrants to purchase an aggregate of 149,850 shares of Common Stock, which is equal to an aggregate of 9% of the number of shares of Common Stock sold in the 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 will be exercisable six months following the closing date and until September 2, 2026. For the year ended December 31, 2021, the Company moved approximately $1,279,800 of deferred financing costs into additional paid in capital of which approximately $ 614,100 Warrants The 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 is below the then-effective exercise price of the Investor Warrant for 10 consecutive trading days. The Company has 1,914,850 and 100,000 warrants outstanding as of December 31, 2021 and 2020, respectively, which will expire five to seven years from the date of issuance. Investor Warrants issued on September 8 and 28, 2021 became exercisable on a cashless basis on January 6 and 28, 2022, respectively. See Note 13 Subsequent Events for Investor Warrants exercised after December 31, 2021. Issue Date Warrants Issued April 25, 2019 exercise price of $20.00 50,000 November 13, 2020 exercise price of $20.00 50,000 September 8, 2021 exercise price of $10.00 1,500,000 September 8, 2021 exercise price of $12.50 135,000 September 30, 2021 exercise price of $10.00 165,000 September 30, 2021 exercise price of $12.50 14,850 The following is a summary of warrants outstanding as of December 31: 2021 2020 Number of Warrants Weighted Average Price Weighted Average Remaining Life Number of Warrants Weighted Average Price Weighted Average Remaining Life Beginning of the year 100,000 $ 20.00 6.1 50,000 $ 20.00 6.3 Issuance 1,814,850 $ 10.21 — 50,000 20.00 Ending balance 1,914,850 $ 10.72 4.7 100,000 $ 20.00 6.1 Warrants exercisable 1,765,000 $ 10.57 4.7 100,000 20.00 6.1 The intrinsic value of the warrants as of December 31, 2021 and 2020 was $0 and $0, respectively. Stock Compensation Restricted Common Shares issued to the Board and Employees On July 15, 2019, the board of directors granted 2,500 restricted shares to each of the two independent directors that vest every 12 months on an annual basis over 36 months. The award is valued at $50,000 for each grant and was based on the equity pricing issuance of $20.00 per share. The pro-rated vested share restriction will be removed upon the annual anniversary of the award. The 1,668 and 1,666 restricted shares were issued to the two directors in September 2020 and September 2021, respectively and another 1,666 restricted shares were issued to the two directors in September 2021. On February 3, 2020, the board of directors granted 2,500 restricted shares to two new independent directors that vest every 12 months on an annual basis over 36 months. The award is valued at $50,000 for each grant and was based on the equity pricing issuance of $20.00 per share. The pro-rated vested share restrictions will be removed upon the annual anniversary of the award. The 1,666 unrestricted shares were issued to the two directors in February 2021 and another 3,334 restricted shares were issued to the two directors in September 2021. The board granted 14,000 restricted shares to directors, officers and employees effective January 1, 2021 valued at $20.00 per share that vest annually over 3 years. The pro-rated vested share restrictions are removed upon the annual anniversary of the award. The 14,000 restricted shares were issued to the directors, officers and employees in September 2021. On February 3, 2020, the board of directors granted 6,250 restricted shares to its former chief financial officer that vested every 12 months on an annual basis over 36 months. The award is valued at $125,000 and was based on the equity pricing issuance of $20.00 per share. The pro-rated vested share restrictions are removed upon the annual anniversary of the award. The 2,083 unrestricted shares were issued to the chief financial officer in February 2021 and another 4,167 restricted shares were issued to the chief financial officer in September 2021. The following is a summary of restricted shares issued as of December 31: 2021 2020 Number of Shares Outstanding at beginning of the period 14,582 5,000 Restricted Shares Issued 14,000 11,250 Restricted Shares Vested (5,415 ) (1,668 ) Number of Restricted Shares Outstanding at end of the period 23,167 14,582 Compensation expense $ 201,690 $ 101,645 Common stock issued for services Pursuant to an amended employment agreement in which the former chief financial officer waived his right to cash compensation in lieu of being awarded 550 restricted shares of common stock each month until the closing of an initial underwritten public offering, we issued the former chief financial officer 2,200 shares of stock in March 2021 representing four months of compensation from December 2020 to March 2021 and another 2,750 shares of stock were issued in October 2021 representing four months of compensation from April 2021 to August 2021. The Company issued 10,000 shares in December 2021 to the former chief financial officer as a bonus for the equity offering. The company recognized $112,432 in compensation expense for common stock issued for services for the year ended December 31, 2021. These shares are accrued as compensation expense until issued by the Company. Generation Income Properties, Inc. 2020 Omnibus Incentive Plan In connection with the Public Offering, the Company board has adopted, and stockholders have approved, the Generation Income Properties, Inc. 2020 Omnibus Incentive Plan (the “ Omnibus Incentive Plan Common Shareholders Cash Distributions The following is a summary of distributions to common shareholders and operating partnership unit holders for the years ended December 31, 2021 and 2020: Board of Directors Authorized Date Record Date Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders October 5, 2021 December 15, 2021 $ 0.054 October 5, 2021 November 15, 2021 $ 0.054 October 5, 2021 October 15, 2021 $ 0.054 August 25, 2021 August 31, 2021 $ 0.325 February 26, 2021 March 15, 2021 $ 0.325 October 30, 2020 November 17, 2020 $ 0.350 June 23, 2020 July 2, 2020 $ 0.350 January 31, 2020 February 28, 2020 $ 0.350 * Our president and chairman waived his right to receive a distribution for all of these periods mentioned above. While we are under no obligation to do so, we expect to declare and pay distributions to our stockholders. The issuance of a distribution will be determined by our board of directors based on our financial condition and such other factors as our board of directors deems relevant. We have not established a minimum distribution, and our charter does not require that we issue distributions to our stockholders other than as necessary to meet IRS REIT qualification standards.

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Leases	Note 8 – Leases Future Minimum Rents For the year ended December 31, 2021 and 2020, we had four tenants that each account for more than 10% of our rental revenue as indicated below: 2021 2020 Pratt and Whitney – Huntsville, AL property 17.8% 21.0% General Services Administration – Walmer Ave. Norfolk, VA property 22.9% 25.3% Maersk Shipping – Walmer Ave. Norfolk, VA property 9.7% 10.7% PRA Holding – Corporate Blvd. Norfolk, VA property 18.9% 21.8% Future Minimum Rents 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, 2021: Future Minimum Rent Payments 2022 $ 3,796,000 2023 3,427,000 2024 3,432,000 2025 3,296,000 2026 3,211,000 Thereafter 6,298,000 $ 23,460,000

Promissory Notes

Promissory Notes	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Promissory Notes	Note 9 – Promissory Notes The Company had the following promissory notes outstanding as of December 31, 2021 and 2020, respectively: As of December 31, As of December 31, Interest Rate Maturity Date 2021 2020 Promissory note issued for $3,407,391 by a financial institution. Note was issued on September 11, 2019 and prepaid without penalty upon the sale of the Walgreen-Cocoa, Florida property on August 31, 2021 which was securing the note. 30-day LIBOR plus 225 basis points 9/11/2021 $ — $ 3,407,391 Promissory note issued for $1,286,664 by a financial institution, interest only due monthly of approximately $3,800 until December 2023. Note was originally issued on January 15, 2015 and assumed and modified on November 30, 2020 and can be prepaid at any time without penalty. Secured by out Tampa Sherwin-Williams property. 3.72% fixed rate after using SWAP whereas the loan is LIBOR plus 2.75% 8/10/2028 1,286,664 1,286,664 Promissory note issued for $1,275,000 by a financial institution. Note was issued on February 4, 2021 and can be prepaid at any time without penalty. Secured by our GSA-Manteo, North Carolina property. Wall Street Journal Prime Rate with minimum of 3.25% 2/4/2023 1,275,000 — Promissory note issued for $850,000 by a financial institution. Note was issued on April 21, 2021 and can be prepaid at any time without penalty. Secured by our Irby - Plant City, FL property. Wall Street Journal Prime Rate minus 0.5% with minimum of 3.0% for the first 24 months; thereafter, weekly average yield on U.S. Treasury Securities adjusted to a constant maturity of three years on April 21, 2023, plus 2.75% with a minimum of 3.25% 12/31/2024 850,000 — Promissory note issued for $2,350,000 by a financial institution. Note was issued on December 28, 2021 and can be prepaid at any time without penalty. Secured by our Best Buy - Grand Junction, CO property. Wall Street Journal Prime Rate with minimum of 3.25% 12/28/2023 2,350,000 — Promissory note issued for $8,260,000 by a financial institution, interest and principal payments due monthly of approximately $41,500. Note was issued on September 30, 2019 and can be prepaid at any time without penalty. Secured by our GSA/ Maersk - Norfolk, Virginia property. The interest rate was reduced in March 2021 from 4.25% to 3.5%. 3.50% 9/30/2024 7,805,524 8,022,271 Promissory note issued for $5,216,749 by a financial institution, interest and principal payments due monthly of approximately $27,400. Note was originally issued on October 23, 2017 and modified on September 30, 2019 and can be prepaid at any time without penalty. Secured by our PRA - Norfolk, Virginia property. The interest rate was reduced in March 2021 from 4.25% to 3.5%. 3.50% 10/23/2024 4,889,670 5,041,935 Promissory note issued for $1,900,000 to a Clearlake Preferred Member, secured by all of the personal and fixture property of the Operating Partnership, interest payments due monthly. Note was issued on December 16, 2019 and was prepaid without penalty on September 30, 2021. 10.00% 12/16/2021 — 1,100,000 Promissory note issued for $11,287,500 by a financial institution, interest only payment is approximately $39,000 and starting April 6, 2021, interest and principal payments due monthly of approximately $55,000. Note was issued on February 11, 2020. Secured by our Washington, DC, Tampa, FL and Huntsville, AL properties. It cannot be prepaid without a penalty. 4.17% 3/6/2030 11,150,130 11,287,500 Less: debt issuance costs, net (637,693 ) (689,190 ) $ 28,969,295 $ 29,456,571 The Company amortized debt issuance costs during the year ended December 31, 2021 and 2020 to interest expense of approximately $120,300 and $134,900, respectively. The Company paid debt issuance costs for the year ended December 31, 2021 and 2020 of approximately $69,800 and $589,100, respectively. As of December 31, 2021, we had one promissory note totaling approximately $2.4 million requiring Debt Service Coverage Ratios (also known as “DSCR”) of 1.50:1.0, one promissory note totaling $1.3 million requiring DSCR of 1.30:1.0, three promissory note totaling $23.8 million requiring DSCR of 1.25:1.0, one promissory note totaling $1.3 million requiring DSCR of 1.20:1.0, one promissory note totaling $0.9 million requiring DSCR of 1.15:1.0. We were in compliance with all covenants as of December 31, 2021. As of December 31, 2021, the Company’s President has personally guaranteed the repayment of the $11.1 million due under the DC/Tampa/Huntsville loan, the $1.3 million loan secured by our Tampa Sherwin Williams property, the $0.9 million loan secured by our Irby property, the $1.3 million loan secured by our GSA Manteo NC property and the $2.4 million loan secured by our Best Buy Grand Junction, CO property. The aggregate guaranteed principal amount of these loans total approximately $16.9 million. The Company’s President has also provided a guaranty of the Borrower’s nonrecourse carveout liabilities and obligations in favor of the lender for the Norfolk, Virginia property loans (the “Bayport loans”), with an aggregate principal amount of approximately $12.7 million. The Company modified the Bayport loans in February 2021 for no fees and reduced the associated interest rate from 4.25% to 3.5%. The Company determined that the debt modification was not substantial under ASC 470-50. Minimum required principal payments on the Company’s debt as of December 31, 2021 are as follows: As of December 31, 2021 2022 $ 580,740 2023 4,240,446 2024 12,981,450 2025 251,011 2026 261,675 2027 and beyond 11,291,666 $ 29,606,988 On October 26, 2021, the Operating Partnership entered into a Commitment Letter with American Momentum Bank (the “Lender”) for a $25 million master credit facility (the “Facility”) to be used for the acquisition of income producing real estate properties. Borrowings under the Facility will accrue interest at a variable rate equal to the Wall Street Journal Prime rate, adjusted monthly, subject to a floor interest rate of 3.25% per annum. At each loan closing under the Facility, the borrower shall pay the Lender a commitment fee equal to 0.50% of the applicable loan amount. Each loan will have an interest-only payment term for twenty-four months from the applicable loan closing date and all interest and principal outstanding shall be due and payable in full two years from the applicable loan closing date. Each loan will be secured by the real estate property acquired and the associated rental income and payment will be guaranteed by the Operating Partnership. David Sobelman, the Company’s Chairman, President and Chief Executive Officer, will be required to execute a non-recourse guarantee in connection with each loan that is subject to standard “bad-boy” carve out provisions. Each loan agreement under the Facility will require the borrower to maintain a debt service coverage ratio of not less than 1.50 to 1.00 over the term of the loan and will contain customary affirmative covenants, negative covenants and events of default. Should any event of default occur, the loan commitments under the Facility may be terminated and any outstanding borrowings, together with accrued interest, could be declared immediately due and payable. All loans under the Facility must close before October 26, 2023, two years after the closing date of the initial loan. The Facility is voidable at the option of the Lender in specified circumstances, including a material adverse change in the Company’s financial condition and upon any changes in management of the Company that are unacceptable to the Lender. As of December 31, 2021, the Company has borrowed approximately $2.4 million under the facility.

Related Party

Related Party	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Party	Note 10 – Related Party The Company had previously engaged 3 Properties (a brokerage and asset manager company) that was owned 100% by the Company’s President, when it purchased properties and to manage properties. This agreement was terminated effective August 31, 2020. For the year ended December 31, 2020, the Company paid 3 Properties approximately $40,135 for asset management services under this agreement. On November 30, 2020, the Company acquired an approximately 3,500-square-foot building from GIP Fund 1, LLC a related party that is owned 10% by the President and Chairman of the Company. The retail single-tenant property (occupied by The Sherwin-Williams Company) in Tampa, Florida was acquired for approximately $1.8 million and was funded with approximately $1.3 million of debt from Valley National Bank and the issuance of 24,309 partnership units in Generation Income Properties LP valued at $20.00 per unit for purposes of the contribution.

Tenant in Common Investment

Tenant in Common Investment	12 Months Ended
	Dec. 31, 2021
Tenant In Common Investment [Abstract]
Tenant in Common Investment	Note 11 – Tenant in Common Investment On August 13, 2021, the Company entered into a tenancy-in-common (“TIC”) structure whereby the TIC acquired a 15,288 square foot single The acquisition of this property was financed in part through the issuance of a Promissory note for $2,715,000 by a financial institution. The Note was issued on August 13, 2021 and can be prepaid at any time without penalty and is secured by the Lazy Boy–- Rockford, IL property. The Company’s share of this debt is approximately $1.0 million. The Company’s President has personally guaranteed the repayment of the $2.7 million loan. The loan has normal covenants which includes DSCR 1.50:1.0. The condensed income statement for the year ended December 31, 2021 for the Tenant in Common Investment is as follows: Total Company Portion Revenue $ 141,906 $ 52,278 Total operating expenses 107,988 39,783 Operating income $ 33,918 $ 12,495 The condensed balance sheet as of December 31, 2021 for the Tenant in Common Investment is as follows: December 31, 2021 Prepaid expenses $ 522 Deferred rent asset 2,108 Property, net of depreciation 4,341,285 Acquired lease intangible asset, net of amortization 279,850 Due from tenant-in-common 47,350 Total assets $ 4,671,115 Accounts payable $ 845 Accounts payable - related party 13,696 Accrued expenses 4,751 Acquired lease intangible liability, net of amortization 42,993 Mortgage payable net of unamortized debt issuance costs 2,677,446 Equity, GIP Inc. Tenant-in-common 725,082 Equity, Sunny Ridge Tenant-in-common 1,206,302 Total liabilities and equity $ 4,671,115

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note 12 – Income Taxes The Company performs an evaluation of the realizability of its deferred tax assets on a semi-annual basis. The Company considers all positive and negative evidence available in determining the potential of realizing deferred tax assets, including the scheduled reversal of temporary differences, recent and projected future taxable income and prudent and feasible tax planning strategies. The estimates and assumptions used by the Company in computing the income taxes reflected in the accompanying consolidated financial statements could differ from the actual results reflected in the income tax returns filed during the subsequent year. Adjustments are recorded based on filed returns when finalized or the related adjustments are identified. Under ASC 740-10-30-5, Income Taxes 1,681,700 1,396,900 Significant components of the tax expense (benefit) recognized in the accompanying consolidated statements of operations for the period December 31, 2021 and December 31, 2020 are as follows: Year Ended Year Ended December 31, 2021 December 31, 2020 Current tax benefit Federal $ (247,762 ) $ (466,975 ) State (50,904 ) (96,630 ) Total current tax benefit (298,666 ) (563,605 ) Deferred tax expense 144,541 266,357 Rate change adjustment (2,844 ) 3,937 Valuation allowance 156,969 293,311 Income tax benefit $ - $ - The reconciliation of the income tax computed at the combined federal and state statutory rate of 12.6% as of December 31, 2021 and 17.1% as of December 31, 2020 to the income tax benefit is as follows: Year Ended Year Ended December 31, 2021 December 31, 2020 Benefit on net loss (156,142 ) 12.6 % (313,001 ) 17.1 % Nondeductible expenses 2,017 -0.3 % 15,753 -1.0 % Rate change adjustment (2,844 ) 0.2 % 3,937 -0.2 % Valuation allowance 156,969 -12.5 % 293,311 -15.9 % Tax benefit/effective rate - 0.0 % - 0.0 % The significant components of the Company’s deferred tax liabilities and assets as of December 31, 2021 and December 31, 2020 are as follows: As of December 31, 2021 As of December 31, 2020 Deferred tax assets: Tax expense for debt issuance costs $ 157,926 $ 170,241 Loss carryforwards 1,464,345 1,161,562 Organizational costs 59,394 65,050 Total deferred tax asset 1,681,665 1,396,853 Valuation allowance (1,681,665 ) (1,396,853 ) Net deferred tax asset $ - $ - The Company’s federal and state tax returns for the 2017 through 2020 tax years generally remain subject to examination by U.S. and various state authorities.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Note 13 – Subsequent Events On January 7, 2022, we acquired a 10,900 square-foot single On January 14, 2022, we acquired a 2,600 square-foot single On March 9, 2022, we acquired a leasehold interest in a ground lease and corresponding assignment of an 88,700 square-foot single On January 3, 2022, we announced that our Board of Directors authorized a distribution of $0.054 per share monthly cash distribution for shareholders of record of our common stock as of January 15, 2021, February 15, 2021 and March 15, 2021. January and February distributions were paid on January 24, 2022 and February 22, 2022, respectively, and we expect to pay March distributions on or about March 30, 2022. David Sobelman, the Company’s president and founder, waived his right to receive these distributions for this period. The Company also announced that it was also paying its GIP LP unit holders held by third parties a similar $0.054 per unit cash distribution. In March 2022, 268,360 Investor Warrants were exercised on a cashless basis for 10% of the shares of Common Stock underlying the Investor Warrant as the volume-weighted average trading price of the Company’s shares of Common Stock on Nasdaq was below the then-effective exercise price of the Investor Warrant for 10 consecutive trading days as of the date the Investor Warrants became exercisable. As such, 26,836 shares of common stock were issued upon exercise

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The preparation of the consolidated financial statements in conformity with U.S. GAAP. The Company adopted the calendar year as its basis of reporting. Certain prior year amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations. The Company generally rounds to the nearest hundred in the footnotes.
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. generally accepted accounting principles (“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 held by the Company related to tenant escrow reimbursements and immediate 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: December 31, December 31, 2021 2020 Cash and cash equivalents $ 10,589,576 $ 937,564 Restricted cash 34,500 184,800 Total cash and cash equivalents and restricted cash $ 10,624,076 $ 1,122,364
Revenue Recognition	Revenue Recognition We have determined that all of our leases should be accounted for as operating leases. The Company leases real estate to its tenants under long-term net leases which we account for as operating leases. Under this method, leases that have fixed and determinable rent increases are recognized on a straight-line basis over the lease term. Certain leases also provide for additional rent based on tenants’ sales volumes. These rents are recognized when determinable after the tenant exceeds a sales breakpoint. Recognizing rent escalations on a straight-line method results in rental revenue in the early years of a lease being higher than actual cash received, creating a straight-line rent asset. Conversely, when actual cash collected is greater than the amount recognized on a straight-line basis, the difference is recognized as a liability. To the extent any of the tenants under these leases become unable to pay their contractual cash rents, the Company may be required to write down the straight-line rent receivable from those tenants, which would reduce rental income. Deferred rent asset as of December 31, 2021 and December 31, 2020 was approximately $ 156,800 126,700 228,900 188,600 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 collectability exists with respect to any tenant changes, the Company recognizes an adjustment to rental income. The Company’s review of collectability of charges under its operating leases includes any accrued rental revenues related to the straight-line method of reporting rental revenue. There were no allowances for receivables recorded for the year ended December 31, 2021 or 2020. The Company’s leases provide for reimbursement from tenants for common area maintenance (“CAM”), insurance, real estate taxes and other operating expenses. 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 over the
Other Income	Other Income The Company earned an acquisition fee equal to one percent of the sale price of $4,525,000 upon the closing of the purchase of the property in Rockford, IL which is reported as other income. The property is held as an investment in common. Refer to Note 11 for more information.
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 in the Company’s Consolidated Statements of Operations based on their fair values determined 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.
Real Estate	Real Estate Acquisitions of real estate are recorded at cost. Real Estate Purchase Price Assignment 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 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. The Company assessed whether the purchase of the building falls within the definition of a business under ASC 805 and concluded that all asset transactions were an asset acquisition, therefore it was recorded at the purchase price, including capitalized acquisition costs, which is allocated to land, building, 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 lease is the estimated cost to replace the leases (including loss of rent, estimated commissions and legal fees paid in similar leases). The capitalized in-place leases are amortized over the remaining team of the leases as amortization expense. The fair value of the above or below market lease is 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. For additional information, see Note 4 - Acquired Lease Intangible Asset, net and Note 5 - Acquired Lease Intangible Liability, net.
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 26 and 50 years, tenant improvements, which are generally between 2 and 10 years. Depreciation expense for the year ended December 31, 2021 and 2020 was approximately $ 1,078,900 1,041,200
Income Taxes	Income Taxes The Company intends to operate and be taxed as a real estate investment trust (“REIT”) under Section 856 through 860 of the Internal Revenue Code (“Code”), commencing with our taxable year ending December 31, 2021. 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. We account for deferred income taxes using the asset and liability method and recognize deferred tax assets and liabilities for the expected future tax consequences of events that have been included in our financial statements or tax returns. Under this method, we determine deferred tax assets and liabilities based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Any increase or decrease in the deferred tax liability that results from a change in circumstances, and that causes us to change our judgment about expected future tax consequences of events, is included in the tax provision when such changes occur. Deferred income taxes also reflect the impact of operating loss and tax credit carryforwards. A valuation allowance is provided if we believe it is more likely than not that all or some portion of the deferred tax asset will not be realized. Any increase or decrease in the valuation allowance that results from a change in circumstances, and that causes us to change our judgment about the realizability of the related deferred tax asset, is included in the tax provision when such changes occur. 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 judgement changes as a result of new information.
Earnings per Share	Earnings per Share In accordance with ASC 260, basic earnings/loss per share (“EPS”) is computed by dividing net loss attributable to the Company that is available to common stockholders by the weighted average number of common shares outstanding during the period, excluding the effects of any potentially dilutive securities. Diluted EPS gives effect to all dilutive potential of shares of common stock outstanding during the period including stock warrants, using the treasury stock method (by using the average stock price for the period to determine the number of shares assumed to be purchased from the exercise of warrants), and convertible debt, using the if-converted method. Diluted EPS excludes all potentially dilutive securities such as warrants, options, restricted stock, and restricted stock units if their effect is anti-dilutive. As of December 31, 2021 and December 31, 2020, all potentially dilutive securities were excluded because the effect was anti-dilutive.
Impairments	Impairments The Company reviews real estate investments and related lease intangibles, for possible impairment when certain events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable though operations plus estimated disposition proceeds. Events or changes in circumstances that may occur include, but are not limited to, significant changes in real estate market conditions, estimated residual values, and an expectation to sell assets before the end of the previously estimated life. Impairments are measured to the extent the current book value exceeds the estimated fair value of the asset less disposition costs for any assets classified as held for sale. There were no impairments during the year ended December 31, 2021 or 2020. 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.
Deferred Financing Costs	Deferred Financing Costs Since inception the Company incurred approximately $1,279,800 of costs associated with the Company’s public equity raise that closed on September 8, 2021. These deferred offering costs were reclassified to additional paid in capital in connection with the successful offering during the year ended December 31,2021.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In July 2021, the Financial Accounting Standards Board (FASB) issued ASU 2021-05 establishing Topic 842, Lessors – Certain Leases with Variable Lease Payments

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
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: December 31, December 31, 2021 2020 Cash and cash equivalents $ 10,589,576 $ 937,564 Restricted cash 34,500 184,800 Total cash and cash equivalents and restricted cash $ 10,624,076 $ 1,122,364

Investments in Real Estate (Tab

Investments in Real Estate (Tables)	12 Months Ended
	Dec. 31, 2021
Schedule of Acquired Properties	During the year ended December 31, 2021, the Company acquired three properties. Manteo, NC Plant City, FL Grand Junction, CO Total Property $ 2,149,015 $ 1,635,824 $ 4,400,452 $ 8,185,291 Acquired lease intangible assets 100,379 121,509 354,603 576,491 Total investments 2,249,394 1,757,333 4,755,055 8,761,782 Less acquired lease intangible liability 511,620 — — 511,620 Total investments $ 1,737,774 $ 1,757,333 $ 4,755,055 $ 8,250,162
Schedule of Disposed Properties	During the year ended December 31, 2021, the Company sold one property. Cocoa, FL Property $ 4,539,617 Acquired lease intangible assets 298,230 Total investments 4,837,847 Less accumulated depreciation and amortization (313,447 ) Less acquired lease intangible liability, net (202,650 ) Net book value of property upon sale $ 4,321,750
Building In Tampa F L
Schedule of Acquired Properties	During the year ended December 31, 2020, the Company acquired one property. Tampa, FL Property $ 1,662,904 Acquired lease intangible assets 184,767 Total investments $ 1,847,671

Acquired Lease Intangible Ass_2

Acquired Lease Intangible Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2021
Intangible Assets Net Excluding Goodwill [Abstract]
Schedule of Intangible Assets, Net	Intangible assets, net is comprised of the following: December 31, December 31, 2021 2020 Acquired lease intangible assets $ 3,304,014 $ 3,014,149 Accumulated amortization (994,857 ) (624,106 ) Acquired lease intangible assets, net $ 2,309,157 $ 2,390,043
Schedule of Future Amortization for Intangible Assets	The future amortization for intangible assets is listed below: As of December 31, 2021 2022 $ 346,000 2023 339,700 2024 339,700 2025 306,600 2026 296,200 Thereafter 681,000 $ 2,309,200

Acquired Lease Intangible Lia_2

Acquired Lease Intangible Liabilities, Net (Tables)	12 Months Ended
	Dec. 31, 2021
Below Market Lease [Abstract]
Summary Of Acquired Lease Intangible Liability	Acquired lease intangible liability is comprised of the following: December 31, December 31, 2021 2020 Acquired lease intangible liability $ 845,063 $ 585,792 Less: recognized rental income (267,675 ) (170,144 ) Total below market lease, net $ 577,388 $ 415,648
Summary of Future Amortization for Intangible Liabilities	The future amortization for intangible liabilities is listed below: As of December 31, 2021 2022 $ 86,700 2023 86,700 2024 86,700 2025 86,700 2026 76,200 Thereafter 154,400 $ 577,400

Redeemable Non-Controlling In_2

Redeemable Non-Controlling Interests (Tables)	12 Months Ended
	Dec. 31, 2021
Noncontrolling Interest [Abstract]
Summary of Redeemable Non-Controlling Interests	The following table reflects our Redeemable Non-Controlling Interests: Brown Family Trust Irby Prop Partners Hornstrom GIP Fund I Greenwal L.C. Riverside Crossing L.C. Total Balance, December 31, 2019 $ 1,200,000 $ — $ — $ — $ 4,965,000 $ 2,033,251 $ 8,198,251 Issuance of Redeemable Operating Partnership Units for property acquisition — — — 486,180 — — 486,180 Distribution on Redeemable Non-Controlling Interest (119,630 ) — — — (260,663 ) (106,745 ) (487,038 ) Net income for the year 119,630 — — — 260,663 106,745 487,038 Balance, December 31, 2020 $ 1,200,000 $ — $ — $ 486,180 $ 4,965,000 $ 2,033,251 $ 8,684,431 Issuances of Redeemable Non-Controlling Interests for property acquisitions 500,000 950,000 650,000 — — — 2,100,000 Redemption of Redeemable Non-Controlling Interest for property disposition (1,200,000 ) — — — — — (1,200,000 ) Distribution on Redeemable Non-Controlling Interest (120,971 ) (53,511 ) (19,945 ) (14,584 ) (82,550 ) (201,760 ) (493,321 ) Net income for the year 120,971 80,267 29,917 14,584 82,550 201,760 530,049 Balance, December 31, 2021 $ 500,000 $ 976,756 $ 659,972 $ 486,180 $ 4,965,000 $ 2,033,251 $ 9,621,159

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Schedule of Warrants Issued and Outstanding with Exercise Price	Issue Date Warrants Issued April 25, 2019 exercise price of $20.00 50,000 November 13, 2020 exercise price of $20.00 50,000 September 8, 2021 exercise price of $10.00 1,500,000 September 8, 2021 exercise price of $12.50 135,000 September 30, 2021 exercise price of $10.00 165,000 September 30, 2021 exercise price of $12.50 14,850 The following is a summary of warrants outstanding as of December 31: 2021 2020 Number of Warrants Weighted Average Price Weighted Average Remaining Life Number of Warrants Weighted Average Price Weighted Average Remaining Life Beginning of the year 100,000 $ 20.00 6.1 50,000 $ 20.00 6.3 Issuance 1,814,850 $ 10.21 — 50,000 20.00 Ending balance 1,914,850 $ 10.72 4.7 100,000 $ 20.00 6.1 Warrants exercisable 1,765,000 $ 10.57 4.7 100,000 20.00 6.1
Schedule of Restricted Common Shares Issued	The following is a summary of restricted shares issued as of December 31: 2021 2020 Number of Shares Outstanding at beginning of the period 14,582 5,000 Restricted Shares Issued 14,000 11,250 Restricted Shares Vested (5,415 ) (1,668 ) Number of Restricted Shares Outstanding at end of the period 23,167 14,582 Compensation expense $ 201,690 $ 101,645
Schedule of Cash Distributions	Common Shareholders Cash Distributions The following is a summary of distributions to common shareholders and operating partnership unit holders for the years ended December 31, 2021 and 2020: Board of Directors Authorized Date Record Date Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders October 5, 2021 December 15, 2021 $ 0.054 October 5, 2021 November 15, 2021 $ 0.054 October 5, 2021 October 15, 2021 $ 0.054 August 25, 2021 August 31, 2021 $ 0.325 February 26, 2021 March 15, 2021 $ 0.325 October 30, 2020 November 17, 2020 $ 0.350 June 23, 2020 July 2, 2020 $ 0.350 January 31, 2020 February 28, 2020 $ 0.350 * Our president and chairman waived his right to receive a distribution for all of these periods mentioned above.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Summary of Concentration of Risk Percentage of Tenants	For the year ended December 31, 2021 and 2020, we had four tenants that each account for more than 10% of our rental revenue as indicated below: 2021 2020 Pratt and Whitney – Huntsville, AL property 17.8% 21.0% General Services Administration – Walmer Ave. Norfolk, VA property 22.9% 25.3% Maersk Shipping – Walmer Ave. Norfolk, VA property 9.7% 10.7% PRA Holding – Corporate Blvd. Norfolk, VA property 18.9% 21.8%
Summary of Future Minimum Rental Cash Payments Due	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, 2021: Future Minimum Rent Payments 2022 $ 3,796,000 2023 3,427,000 2024 3,432,000 2025 3,296,000 2026 3,211,000 Thereafter 6,298,000 $ 23,460,000

Promissory Notes (Tables)

Promissory Notes (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of Promissory Notes	The Company had the following promissory notes outstanding as of December 31, 2021 and 2020, respectively: As of December 31, As of December 31, Interest Rate Maturity Date 2021 2020 Promissory note issued for $3,407,391 by a financial institution. Note was issued on September 11, 2019 and prepaid without penalty upon the sale of the Walgreen-Cocoa, Florida property on August 31, 2021 which was securing the note. 30-day LIBOR plus 225 basis points 9/11/2021 $ — $ 3,407,391 Promissory note issued for $1,286,664 by a financial institution, interest only due monthly of approximately $3,800 until December 2023. Note was originally issued on January 15, 2015 and assumed and modified on November 30, 2020 and can be prepaid at any time without penalty. Secured by out Tampa Sherwin-Williams property. 3.72% fixed rate after using SWAP whereas the loan is LIBOR plus 2.75% 8/10/2028 1,286,664 1,286,664 Promissory note issued for $1,275,000 by a financial institution. Note was issued on February 4, 2021 and can be prepaid at any time without penalty. Secured by our GSA-Manteo, North Carolina property. Wall Street Journal Prime Rate with minimum of 3.25% 2/4/2023 1,275,000 — Promissory note issued for $850,000 by a financial institution. Note was issued on April 21, 2021 and can be prepaid at any time without penalty. Secured by our Irby - Plant City, FL property. Wall Street Journal Prime Rate minus 0.5% with minimum of 3.0% for the first 24 months; thereafter, weekly average yield on U.S. Treasury Securities adjusted to a constant maturity of three years on April 21, 2023, plus 2.75% with a minimum of 3.25% 12/31/2024 850,000 — Promissory note issued for $2,350,000 by a financial institution. Note was issued on December 28, 2021 and can be prepaid at any time without penalty. Secured by our Best Buy - Grand Junction, CO property. Wall Street Journal Prime Rate with minimum of 3.25% 12/28/2023 2,350,000 — Promissory note issued for $8,260,000 by a financial institution, interest and principal payments due monthly of approximately $41,500. Note was issued on September 30, 2019 and can be prepaid at any time without penalty. Secured by our GSA/ Maersk - Norfolk, Virginia property. The interest rate was reduced in March 2021 from 4.25% to 3.5%. 3.50% 9/30/2024 7,805,524 8,022,271 Promissory note issued for $5,216,749 by a financial institution, interest and principal payments due monthly of approximately $27,400. Note was originally issued on October 23, 2017 and modified on September 30, 2019 and can be prepaid at any time without penalty. Secured by our PRA - Norfolk, Virginia property. The interest rate was reduced in March 2021 from 4.25% to 3.5%. 3.50% 10/23/2024 4,889,670 5,041,935 Promissory note issued for $1,900,000 to a Clearlake Preferred Member, secured by all of the personal and fixture property of the Operating Partnership, interest payments due monthly. Note was issued on December 16, 2019 and was prepaid without penalty on September 30, 2021. 10.00% 12/16/2021 — 1,100,000 Promissory note issued for $11,287,500 by a financial institution, interest only payment is approximately $39,000 and starting April 6, 2021, interest and principal payments due monthly of approximately $55,000. Note was issued on February 11, 2020. Secured by our Washington, DC, Tampa, FL and Huntsville, AL properties. It cannot be prepaid without a penalty. 4.17% 3/6/2030 11,150,130 11,287,500 Less: debt issuance costs, net (637,693 ) (689,190 ) $ 28,969,295 $ 29,456,571
Schedule of Minimum Required Principal Payments	Minimum required principal payments on the Company’s debt as of December 31, 2021 are as follows: As of December 31, 2021 2022 $ 580,740 2023 4,240,446 2024 12,981,450 2025 251,011 2026 261,675 2027 and beyond 11,291,666 $ 29,606,988

Tenant in Common Investment (Ta

Tenant in Common Investment (Tables)	12 Months Ended
	Dec. 31, 2021
Tenant In Common Investment [Abstract]
Condensed Income Statement of Tenant in Common Investment	The condensed income statement for the year ended December 31, 2021 for the Tenant in Common Investment is as follows: Total Company Portion Revenue $ 141,906 $ 52,278 Total operating expenses 107,988 39,783 Operating income $ 33,918 $ 12,495
Condensed Balance Sheet of Tenant in Common Investment	The condensed balance sheet as of December 31, 2021 for the Tenant in Common Investment is as follows: December 31, 2021 Prepaid expenses $ 522 Deferred rent asset 2,108 Property, net of depreciation 4,341,285 Acquired lease intangible asset, net of amortization 279,850 Due from tenant-in-common 47,350 Total assets $ 4,671,115 Accounts payable $ 845 Accounts payable - related party 13,696 Accrued expenses 4,751 Acquired lease intangible liability, net of amortization 42,993 Mortgage payable net of unamortized debt issuance costs 2,677,446 Equity, GIP Inc. Tenant-in-common 725,082 Equity, Sunny Ridge Tenant-in-common 1,206,302 Total liabilities and equity $ 4,671,115

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Components Of Tax Expense (Benefit)	Significant components of the tax expense (benefit) recognized in the accompanying consolidated statements of operations for the period December 31, 2021 and December 31, 2020 are as follows: Year Ended Year Ended December 31, 2021 December 31, 2020 Current tax benefit Federal $ (247,762 ) $ (466,975 ) State (50,904 ) (96,630 ) Total current tax benefit (298,666 ) (563,605 ) Deferred tax expense 144,541 266,357 Rate change adjustment (2,844 ) 3,937 Valuation allowance 156,969 293,311 Income tax benefit $ - $ -
Reconciliation Of Income Tax	The reconciliation of the income tax computed at the combined federal and state statutory rate of 12.6% as of December 31, 2021 and 17.1% as of December 31, 2020 to the income tax benefit is as follows: Year Ended Year Ended December 31, 2021 December 31, 2020 Benefit on net loss (156,142 ) 12.6 % (313,001 ) 17.1 % Nondeductible expenses 2,017 -0.3 % 15,753 -1.0 % Rate change adjustment (2,844 ) 0.2 % 3,937 -0.2 % Valuation allowance 156,969 -12.5 % 293,311 -15.9 % Tax benefit/effective rate - 0.0 % - 0.0 %
Significant Components Of Deferred Tax Liabilities And Assets	The significant components of the Company’s deferred tax liabilities and assets as of December 31, 2021 and December 31, 2020 are as follows: As of December 31, 2021 As of December 31, 2020 Deferred tax assets: Tax expense for debt issuance costs $ 157,926 $ 170,241 Loss carryforwards 1,464,345 1,161,562 Organizational costs 59,394 65,050 Total deferred tax asset 1,681,665 1,396,853 Valuation allowance (1,681,665 ) (1,396,853 ) Net deferred tax asset $ - $ -

Nature of Operations - Addition

Nature of Operations - Additional Information (Details) - Property	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Nature Of Operations [Line Items]
Entity incorporation date	Sep. 19, 2015
Number of properties owned	9	3
Number of partial interest properties	1
Operating Partnership
Nature Of Operations [Line Items]
Operating partnership formation month and year	2015-10
Operating Partnership | GIP REIT Op Limited LLC
Nature Of Operations [Line Items]
Ownership percentage	0.002%
Operating Partnership | Common Units
Nature Of Operations [Line Items]
Ownership percentage	85.30%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Schedule of Reconciliation of Cash and Cash Equivalents and Restricted Cash (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	$ 10,589,576	$ 937,564
Restricted cash	34,500	184,800
Total cash and cash equivalents and restricted cash	$ 10,624,076	$ 1,122,364

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Summary Of Significant Accounting Policies [Line Items]
Deferred rent asset	$ 156,842	$ 126,655
Deferred rent liability	228,938	188,595
Prepaid rent	188,000	165,800
Allowances for receivables	$ 0	0
Acquisition fee percentage	1.00%
Acquisition fee sale price	$ 4,525,000
Depreciation	1,078,854	1,041,222
Impairments	0	$ 0
Costs associated with public equity raise	$ 1,279,800
Topic 842
Summary Of Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, adoption date	Jul. 31, 2021
Change in accounting principle, accounting standards update, immaterial effect	true
Buildings | Minimum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life	26 years
Buildings | Maximum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life	50 years
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

Investments in Real Estate - Ad

Investments in Real Estate - Additional Information (Details)	Aug. 31, 2021USD ($)	Dec. 31, 2021USD ($)Property	Dec. 31, 2020USD ($)Property$ / sharesshares
Asset Acquisition [Line Items]
Number of real estate properties acquired | Property		3
Property In Cocoa F L
Asset Acquisition [Line Items]
Sale of real estate property	$ 5,245,900
Gain on disposition of real estate property	$ 923,200
Manteo, NC
Asset Acquisition [Line Items]
Property acquired date		Feb. 11, 2021
Cash capital contribution through issuance of redeemable non-controlling interest		$ 500,000
Asset acquisition through debt		$ 1,275,000
Plant City, FL
Asset Acquisition [Line Items]
Property acquired date		Apr. 21, 2021
Cash capital contribution through issuance of redeemable non-controlling interest		$ 950,000
Asset acquisition through debt		$ 850,000
Grand Junction, CO
Asset Acquisition [Line Items]
Property acquired date		Dec. 28, 2021
Cash capital contribution through issuance of redeemable non-controlling interest		$ 2,405,000
Asset acquisition through debt		$ 2,350,000
Tampa, FL | One Entity
Asset Acquisition [Line Items]
Number of real estate properties acquired | Property			1
Property acquired date			Nov. 30, 2020
Cash capital contribution through issuance of redeemable non-controlling interest			$ 1,000
Asset acquisition through debt			$ 1,286,700
Number of common units issued | shares			24,309
Common units issue price per share | $ / shares			$ 20
Common units value issued			$ 486,200
Percentage value of interest in common units			10.00%

Investments in Real Estate - Sc

Investments in Real Estate - Schedule of Acquired Properties (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Manteo, NC
Business Acquisition [Line Items]
Property	$ 2,149,015
Acquired lease intangible assets	100,379
Total investments	2,249,394
Less acquired lease intangible liability	511,620
Total investments	1,737,774
Plant City, FL
Business Acquisition [Line Items]
Property	1,635,824
Acquired lease intangible assets	121,509
Total investments	1,757,333
Total investments	1,757,333
Grand Junction CO
Business Acquisition [Line Items]
Property	4,400,452
Acquired lease intangible assets	354,603
Total investments	4,755,055
Total investments	4,755,055
Total
Business Acquisition [Line Items]
Property	8,185,291
Acquired lease intangible assets	576,491
Total investments	8,761,782
Less acquired lease intangible liability	511,620
Total investments	$ 8,250,162
Building In Tampa F L
Business Acquisition [Line Items]
Property		$ 1,662,904
Acquired lease intangible assets		184,767
Total investments		$ 1,847,671

Investments in Real Estate - _2

Investments in Real Estate - Schedule of Disposed Properties (Details) - Property In Cocoa F L	Dec. 31, 2021USD ($)
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Property	$ 4,539,617
Acquired lease intangible assets	298,230
Total investments	4,837,847
Less accumulated depreciation and amortization	(313,447)
Less acquired lease intangible liability, net	(202,650)
Net book value of property upon sale	$ 4,321,750

Acquired Lease Intangible Ass_3

Acquired Lease Intangible Assets, Net - Schedule of Intangible Assets, Net (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Intangible Assets Net Excluding Goodwill [Abstract]
Acquired lease intangible assets	$ 3,304,014	$ 3,014,149
Accumulated amortization	(994,857)	(624,106)
Acquired lease intangible assets, net	$ 2,309,157	$ 2,390,043

Acquired Lease Intangible Ass_4

Acquired Lease Intangible Assets, Net - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Intangible Assets Net Excluding Goodwill [Abstract]
Amortization of lease intangible assets	$ 429,500	$ 411,300

Acquired Lease Intangible Ass_5

Acquired Lease Intangible Assets, Net - Schedule of Future Amortization for Intangible Assets (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Intangible Assets Net Excluding Goodwill [Abstract]
2022	$ 346,000
2023	339,700
2024	339,700
2025	306,600
2026	296,200
Thereafter	681,000
Acquired lease intangible assets, net	$ 2,309,157	$ 2,390,043

Acquired Lease Intangible Lia_3

Acquired Lease Intangible Liabilities, Net - Summary of Acquired Lease Intangible Liability (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Below Market Lease [Abstract]
Acquired lease intangible liability	$ 845,063	$ 585,792
Less: recognized rental income	(267,675)	(170,144)
Total below market lease, net	$ 577,388	$ 415,648

Acquired Lease Intangible Lia_4

Acquired Lease Intangible Liabilities, Net - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Below Market Lease [Abstract]
Amortization for below market leases	$ 147,228	$ 109,496

Acquired Lease Intangible Lia_5

Acquired Lease Intangible Liabilities, Net - Summary of Future Amortization for Intangible Liabilities (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Below Market Lease [Abstract]
2022	$ 86,700
2023	86,700
2024	86,700
2025	86,700
2026	76,200
Thereafter	154,400
Total below market lease, net	$ 577,388	$ 415,648

Redeemable Non-Controlling In_3

Redeemable Non-Controlling Interests - Summary of Redeemable Non-Controlling Interests (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Redeemable Noncontrolling Interest [Line Items]
Redeemable Non-Controlling Interest, Balance	$ 8,684,431	$ 8,198,251
Issuances of Redeemable Non-Controlling Interests for property acquisitions	2,100,000
Issuance of Redeemable Operating Partnership Units for property acquisition		486,180
Redemption of Redeemable Non-Controlling Interest for property disposition	(1,200,000)
Distribution on Redeemable Non-Controlling Interest	(493,321)	(487,038)
Net income for the year	530,049	487,038
Redeemable Non-Controlling Interest, Balance	9,621,159	8,684,431
Brown Family Trust
Redeemable Noncontrolling Interest [Line Items]
Redeemable Non-Controlling Interest, Balance	1,200,000	1,200,000
Issuances of Redeemable Non-Controlling Interests for property acquisitions	500,000
Redemption of Redeemable Non-Controlling Interest for property disposition	(1,200,000)
Distribution on Redeemable Non-Controlling Interest	(120,971)	(119,630)
Net income for the year	120,971	119,630
Redeemable Non-Controlling Interest, Balance	500,000	1,200,000
Irby Property Partners
Redeemable Noncontrolling Interest [Line Items]
Issuances of Redeemable Non-Controlling Interests for property acquisitions	950,000
Distribution on Redeemable Non-Controlling Interest	(53,511)
Net income for the year	80,267
Redeemable Non-Controlling Interest, Balance	976,756
Hornstrom
Redeemable Noncontrolling Interest [Line Items]
Issuances of Redeemable Non-Controlling Interests for property acquisitions	650,000
Distribution on Redeemable Non-Controlling Interest	(19,945)
Net income for the year	29,917
Redeemable Non-Controlling Interest, Balance	659,972
GIP Fund I
Redeemable Noncontrolling Interest [Line Items]
Redeemable Non-Controlling Interest, Balance	486,180
Issuance of Redeemable Operating Partnership Units for property acquisition		486,180
Distribution on Redeemable Non-Controlling Interest	(14,584)
Net income for the year	14,584
Redeemable Non-Controlling Interest, Balance	486,180	486,180
Greenwal L.C.
Redeemable Noncontrolling Interest [Line Items]
Redeemable Non-Controlling Interest, Balance	4,965,000	4,965,000
Distribution on Redeemable Non-Controlling Interest	(82,550)	(260,663)
Net income for the year	82,550	260,663
Redeemable Non-Controlling Interest, Balance	4,965,000	4,965,000
Riverside Crossing L.C.
Redeemable Noncontrolling Interest [Line Items]
Redeemable Non-Controlling Interest, Balance	2,033,251	2,033,251
Distribution on Redeemable Non-Controlling Interest	(201,760)	(106,745)
Net income for the year	201,760	106,745
Redeemable Non-Controlling Interest, Balance	$ 2,033,251	$ 2,033,251

Redeemable Non-Controlling In_4

Redeemable Non-Controlling Interests - Additional Information (Details)	Aug. 02, 2021USD ($)	Apr. 21, 2021USD ($)	Feb. 11, 2021USD ($)	Nov. 30, 2020USD ($)BuildingEntityInvestor$ / sharesshares	Sep. 30, 2019USD ($)BuildingEntityInvestor$ / sharesshares	Sep. 11, 2019USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Aug. 31, 2021USD ($)	Dec. 31, 2019USD ($)
Redeemable Noncontrolling Interest [Line Items]
Noncontrolling interest, description							average 30-day market price of Generation Income Properties, Inc. 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 Generation Income Properties, L.P
Redeemable noncontrolling interest redeemed							$ 9,621,159	$ 8,684,431		$ 8,198,251
Redemption price discount average							15.00%
Preferred Equity Partners
Redeemable Noncontrolling Interest [Line Items]
Payments of distributions							$ 53,500
Accrued value of deferred internal rate of return							26,700
Rockville, IL
Redeemable Noncontrolling Interest [Line Items]
Payments of distributions							19,900
Accrued value of deferred internal rate of return							10,000
Brown Family Trust
Redeemable Noncontrolling Interest [Line Items]
Redeemable noncontrolling interest redeemed							500,000	1,200,000	$ 1,200,000	$ 1,200,000
Payments of distributions							121,000	119,600
Irby Property Partners
Redeemable Noncontrolling Interest [Line Items]
Redeemable noncontrolling interest redeemed							976,756
Hornstrom
Redeemable Noncontrolling Interest [Line Items]
Redeemable noncontrolling interest redeemed							$ 659,972
One Entity | President
Redeemable Noncontrolling Interest [Line Items]
Ownership percentage							10.00%
Preferred Equity Agreement | Brown Family Trust
Redeemable Noncontrolling Interest [Line Items]
Capital contribution received			$ 500,000			$ 1,200,000
Noncontrolling interest, description							Pursuant to the agreement, the Company was required to pay the preferred equity member a 10% internal rate of return (“IRR”) on a monthly basis and redeem the entire amount due after 24 months at the option of the preferred equity member.
Noncontrolling interest internal rate of return percentage paid on monthly basis			9.00%			10.00%
Noncontrolling interest, description							Pursuant to the agreement, the Company will pay the preferred equity member a 9% IRR on a monthly basis and redeem the entire amount due after 24 months at the option of the preferred equity member.
Current redemption amount			$ 500,000
Preferred Equity Agreement | Irby Property Partners | Preferred Equity Partners
Redeemable Noncontrolling Interest [Line Items]
Capital contribution received		$ 950,000
Noncontrolling interest, description							Pursuant to the agreement, the Company will pay the preferred equity member a 12% total IRR with an 8% IRR paid on a monthly basis and the deferred IRR will be paid at the end of 24 months along with the entire $950,000 amount due after 24 months at the option of the preferred equity member.
Noncontrolling interest internal rate of return percentage paid on monthly basis		8.00%
Current redemption amount		$ 976,800
Noncontrolling interest total internal rate of return percentage		12.00%
Noncontrolling interest, amount due		$ 950,000
Preferred Equity Agreement | Hornstrom | Preferred Equity Partners
Redeemable Noncontrolling Interest [Line Items]
Capital contribution received	$ 650,000
Noncontrolling interest, description							Pursuant to the agreement, the Company will pay the preferred equity member a 12% total IRR with an 8% IRR paid on a monthly basis and the deferred IRR will be paid at the end of 24 months along with the entire $650,000 amount due after 24 months at the option of the preferred equity member.
Noncontrolling interest internal rate of return percentage paid on monthly basis	8.00%
Current redemption amount	$ 660,000
Noncontrolling interest total internal rate of return percentage	12.00%
Noncontrolling interest, amount due	$ 650,000
Contribution Agreement | Operating Partnership
Redeemable Noncontrolling Interest [Line Items]
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
Percentage value of interest in common units							13.80%
Number of investors required to redeem | Investor					2
Common units redemption price per share | $ / shares					$ 20
Contribution Agreement | One Entity
Redeemable Noncontrolling Interest [Line Items]
Payments of distributions							$ 298,900	367,400
Number of entities | Entity				1
Number of common units issued | shares				24,309
Common units issue price per share | $ / shares				$ 20
Common units value issued				$ 486,180
Percentage value of interest in common units							1.00%
Number of investors required to redeem | Investor				2
Common units redemption price per share | $ / shares				$ 20
Cocoa, FL | Preferred Equity Agreement | Brown Family Trust
Redeemable Noncontrolling Interest [Line Items]
Acquisition of building						$ 4,578,800
Manteo, NC
Redeemable Noncontrolling Interest [Line Items]
Acquisition of building							$ 2,249,394
Capital contribution received							500,000
Manteo, NC | Preferred Equity Agreement | Brown Family Trust
Redeemable Noncontrolling Interest [Line Items]
Acquisition of building			$ 1,737,800
Plant City, FL
Redeemable Noncontrolling Interest [Line Items]
Acquisition of building							1,757,333
Capital contribution received							$ 950,000
Plant City, FL | Preferred Equity Agreement | Irby Property Partners | Preferred Equity Partners
Redeemable Noncontrolling Interest [Line Items]
Acquisition of building		$ 1,757,300
Rockford, IL | Preferred Equity Agreement | Hornstrom | Preferred Equity Partners
Redeemable Noncontrolling Interest [Line Items]
Acquisition of building	$ 700,000
Buildings In Norfolk V A | Contribution Agreement | Operating Partnership
Redeemable Noncontrolling Interest [Line Items]
Acquisition of building					$ 19,100,000
Number of buildings acquired | Building					2
Building In Tampa F L
Redeemable Noncontrolling Interest [Line Items]
Acquisition of building								$ 1,847,671
Building In Tampa F L | Contribution Agreement | One Entity
Redeemable Noncontrolling Interest [Line Items]
Acquisition of building				$ 1,800,000
Number of buildings acquired | Building				1

Equity - Additional Information

Equity - Additional Information (Details)

Sep. 30, 2021USD ($)TradingDayDirector$ / sharesshares

Sep. 08, 2021USD ($)shares

Nov. 13, 2020USD ($)$ / sharesshares

Feb. 03, 2020USD ($)Director$ / sharesshares

Jul. 15, 2019USD ($)Director$ / sharesshares

Oct. 31, 2021shares

Sep. 30, 2021Director$ / sharesshares

Mar. 31, 2021shares

Feb. 28, 2021Directorshares

Jan. 31, 2021shares

Dec. 31, 2020USD ($)shares

Sep. 30, 2020Directorshares

Sep. 30, 2021Director$ / sharesshares

Dec. 31, 2021USD ($)$ / sharesshares

Dec. 31, 2020USD ($)shares

Dec. 31, 2019shares

Apr. 25, 2019$ / shares

Class Of Stock [Line Items]

Warrants to purchase shares of common stock

100,000

1,765,000

100,000

Common warrants exercisable price per share | $ / shares

$ 20

$ 20

Common stock, shares authorized

100,000,000

100,000,000

100,000,000

Undesignated preferred stock, shares authorized

10,000,000

Preferred stock, shares issued

0

Common stock issued amount | $

$ 13,761,769

Number of warrants to purchase common stock

1

Common warrants expiration term

7 years

6 years 1 month 6 days

4 years 8 months 12 days

6 years 1 month 6 days

6 years 3 months 18 days

Redeemable shares of common stock, value | $

$ (100)

Reclassification of deferred offering costs to additional paid in capital | $

$ 1,279,800

Deferred financing costs | $

$ 614,088

$ 614,088

Warrants outstanding

100,000

1,914,850

100,000

50,000

Intrinsic value of the warrants | $

$ 0

$ 0

$ 0

Restricted Shares

Class Of Stock [Line Items]

Shares issued price per share | $ / shares

$ 20

Number of shares granted

14,000

14,000

11,250

Vesting period

3 years

Compensation expense recognized | $

$ 201,690

$ 101,645

2020 Omnibus Incentive Plan

Class Of Stock [Line Items]

Number of shares granted

10,000

Reserves shares of common stock

2,000,000

Minimum

Class Of Stock [Line Items]

Common warrants expiration term

5 years

Maximum

Class Of Stock [Line Items]

Common warrants expiration term

7 years

Director | Unrestricted Shares

Class Of Stock [Line Items]

Number of shares granted

1,666

Director | Shares Granted, July 15, 2019 | Restricted Shares

Class Of Stock [Line Items]

Shares issued price per share | $ / shares

$ 20

Number of shares granted

2,500

1,666

1,668

Number of independent directors granted shares | Director

2

Vesting period

12 months

Award expiration period

36 months

Grant award value | $

$ 50,000

Number of directors granted shares | Director

2

2

2

2

Director | Shares Granted, February 3, 2020 | Restricted Shares

Class Of Stock [Line Items]

Shares issued price per share | $ / shares

$ 20

Number of shares granted

2,500

3,334

Number of independent directors granted shares | Director

2

Vesting period

12 months

Award expiration period

36 months

Grant award value | $

$ 50,000

Number of directors granted shares | Director

2

2

2

Director | Shares Granted, February 3, 2020 | Unrestricted Shares

Class Of Stock [Line Items]

Number of directors granted shares | Director

2

Chief Financial Officer

Class Of Stock [Line Items]

Compensation expense recognized | $

$ 112,432

Chief Financial Officer | Restricted Shares

Class Of Stock [Line Items]

Shares issued price per share | $ / shares

$ 20

Number of shares granted

6,250

4,167

Vesting period

12 months

Award expiration period

36 months

Grant award value | $

$ 125,000

Shares awarded per month for waiving right to cash compensation

550

550

550

550

Shares issued during the period

2,750

2,200

10,000

Chief Financial Officer | Unrestricted Shares

Class Of Stock [Line Items]

Number of shares granted

2,083

Common Stock Par Value $0.01 Per Share

Class Of Stock [Line Items]

Common stock issued amount | $

$ 1,000,000

$ 16,650

Common stock issued

50,000

1,665,000

Shares issued price per share | $ / shares

$ 20

Redeemable shares of common stock

(112,500)

Redeemable shares of common stock, value | $

$ (1,125)

Over-Allotment Option

Class Of Stock [Line Items]

Percentage of shares underlying warrants that may be exercised based on trading price

10.00%

Shares underlying warrants that may be exercised based on trading price, period after issuance

120 days

Shares underlying warrants that may be exercised, number of trading days for calculation of trading price | TradingDay

10

Warrants to purchase shares of common stock

149,850

149,850

149,850

Percentage of number of shares of common stock sold in offering

9.00%

Common warrants exercisable price per share | $ / shares

$ 12.50

$ 12.50

$ 12.50

Warrants to purchase shares of common stock, expiration date

Sep. 2, 2026

Sep. 2, 2026

Sep. 2, 2026

Number of warrants to purchase common stock

1

1

1

Common warrants expiration term

5 years

5 years

5 years

Over-Allotment Option | Common Stock Par Value $0.01 Per Share

Class Of Stock [Line Items]

Common stock issued amount | $

$ 13,800,000

Common stock issued

165,000

Shares issued price per share | $ / shares

$ 10

$ 10

$ 10

Public Offering

Class Of Stock [Line Items]

Number of warrants to purchase common stock

1

Public Offering | Common Stock Par Value $0.01 Per Share

Class Of Stock [Line Items]

Common stock issued

1,500,000

Public Offering | Treasury Stock | CEO

Class Of Stock [Line Items]

Redeemable shares of common stock

112,500

Redeemable shares of common stock, value | $

$ 100

Equity - Schedule of Warrants I

Equity - Schedule of Warrants Issued with Exercise Price (Details) - $ / shares	Sep. 30, 2021	Sep. 08, 2021	Nov. 13, 2020	Apr. 25, 2019
Class Of Warrant Or Right [Line Items]
Issue Date			Nov. 13, 2020	Apr. 25, 2019
Exercise price			$ 20	$ 20
Warrants Issued			50,000	50,000
Exercise Price of $10.00
Class Of Warrant Or Right [Line Items]
Issue Date	Sep. 30, 2021	Sep. 8, 2021
Exercise price	$ 10	$ 10
Warrants Issued	165,000	1,500,000
Exercise Price of $12.50
Class Of Warrant Or Right [Line Items]
Issue Date	Sep. 30, 2021	Sep. 8, 2021
Exercise price	$ 12.50	$ 12.50
Warrants Issued	14,850	135,000

Equity - Summary of Warrants Ou

Equity - Summary of Warrants Outstanding (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Equity [Abstract]
Number of Warrants, Beginning balance	100,000	50,000
Number of Warrants, Issuance	1,814,850	50,000
Number of Warrants, Ending balance	1,914,850	100,000
Warrants to purchase shares of common stock	1,765,000	100,000
Weighted Average Price, Beginning balance	$ 20	$ 20
Weighted Average Price, Issuance	10.21	20
Weighted Average Price, Ending balance	10.72	20
Weighted Average Price, Warrants exercisable	$ 10.57	$ 20
Weighted Average Remaining Life, Beginning balance	6 years 1 month 6 days	6 years 3 months 18 days
Weighted Average Remaining Life, Ending balance	4 years 8 months 12 days	6 years 1 month 6 days
Weighted Average Remaining Life, Warrants exercisable	4 years 8 months 12 days	6 years 1 month 6 days

Equity - Schedule of Restricted

Equity - Schedule of Restricted Common Shares Issued (Details) - Restricted Shares - USD ($)	1 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares Outstanding at beginning of the period		14,582	5,000
Restricted Shares Issued	14,000	14,000	11,250
Restricted Shares Vested		(5,415)	(1,668)
Number of Restricted Shares Outstanding at end of the period		23,167	14,582
Compensation expense		$ 201,690	$ 101,645

Equity - Schedule of Cash Distr

Equity - Schedule of Cash Distributions (Details) - $ / shares	Oct. 05, 2021	Aug. 25, 2021	Feb. 26, 2021	Oct. 30, 2020	Jun. 23, 2020	Jan. 31, 2020
Dividends Payable [Line Items]
Board of Directors Authorized Date		Aug. 25, 2021	Feb. 26, 2021	Oct. 30, 2020	Jun. 23, 2020	Jan. 31, 2020
Record Date		Aug. 31, 2021	Mar. 15, 2021	Nov. 17, 2020	Jul. 2, 2020	Feb. 28, 2020
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders		$ 0.325	$ 0.325	$ 0.350	$ 0.350	$ 0.350
Dividend Tranche One
Dividends Payable [Line Items]
Board of Directors Authorized Date	Oct. 5, 2021
Record Date	Dec. 15, 2021
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.054
Dividend Tranche Two
Dividends Payable [Line Items]
Board of Directors Authorized Date	Oct. 5, 2021
Record Date	Nov. 15, 2021
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.054
Dividend Tranche Three
Dividends Payable [Line Items]
Board of Directors Authorized Date	Oct. 5, 2021
Record Date	Oct. 15, 2021
Per Share or Per Unit Cash Distributions to Common Shareholders and Operating Partnership Unit Holders	$ 0.054

Leases - Additional Information

Leases - Additional Information (Details) - Tenant	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Number of tenants	4	4

Leases - Schedule of Concentrat

Leases - Schedule of Concentration Risk Percentage (Details) - Customer Concentration Risk - Sales Revenue Net	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Pratt And Whitney Corporation | Huntsville, AL
Product Information [Line Items]
Concentration risk, percentage	17.80%	21.00%
General Services Administration | Norfolk, VA
Product Information [Line Items]
Concentration risk, percentage	22.90%	25.30%
Maersk Shipping | Norfolk, VA
Product Information [Line Items]
Concentration risk, percentage	9.70%	10.70%
PRA Holding | Norfolk, VA
Product Information [Line Items]
Concentration risk, percentage	18.90%	21.80%

Leases - Summary of Future Mini

Leases - Summary of Future Minimum Rental Cash Payments Due (Details)	Dec. 31, 2021USD ($)
Leases [Abstract]
2022	$ 3,796,000
2023	3,427,000
2024	3,432,000
2025	3,296,000
2026	3,211,000
Thereafter	6,298,000
Total	$ 23,460,000

Promissory Notes - Schedule of

Promissory Notes - Schedule of Promissory Notes (Details) - USD ($)	1 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Less: debt issuance costs, net			$ (614,088)
Promissory Notes
Debt Instrument [Line Items]
Long-term debt, gross		$ 29,606,988
Less: debt issuance costs, net		(637,693)	(689,190)
Long-term debt		$ 28,969,295	29,456,571
Promissory Notes | Promissory Note Issued on September 11, 2019
Debt Instrument [Line Items]
Description of variable rate basis		30-day LIBOR plus 225 basis points
Maturity Date		Sep. 11, 2021
Long-term debt, gross			3,407,391
Promissory Notes | Promissory Note Issued on September 11, 2019 | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		225.00%
Promissory Notes | Promissory Note Issued on January 15, 2015 and Assumed and Modified on November 30, 2020
Debt Instrument [Line Items]
Interest Rate		3.72%
Description of variable rate basis		3.72% fixed rate after using SWAP whereas the loan is LIBOR plus 2.75%
Maturity Date		Aug. 10, 2028
Long-term debt, gross		$ 1,286,664	1,286,664
Promissory Notes | Promissory Note Issued on January 15, 2015 and Assumed and Modified on November 30, 2020 | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		2.75%
Promissory Notes | Promissory Note Issued on February 4, 2021
Debt Instrument [Line Items]
Interest Rate		3.25%
Description of variable rate basis		Wall Street Journal Prime Rate with minimum of 3.25%
Maturity Date		Feb. 4, 2023
Long-term debt, gross		$ 1,275,000
Promissory Notes | Promissory Note Issued on February 4, 2021 | Minimum
Debt Instrument [Line Items]
Interest Rate		3.25%
Promissory Notes | Promissory Note Issued on April 21, 2021
Debt Instrument [Line Items]
Interest Rate		2.75%
Description of variable rate basis		Wall Street Journal Prime Rate minus 0.5% with minimum of 3.0% for the first 24 months; thereafter, weekly average yield on U.S. Treasury Securities adjusted to a constant maturity of three years on April 21, 2023, plus 2.75% with a minimum of 3.25%
Maturity Date		Dec. 31, 2024
Long-term debt, gross		$ 850,000
Promissory Notes | Promissory Note Issued on April 21, 2021 | Minimum
Debt Instrument [Line Items]
Interest Rate		3.00%
Promissory Notes | Promissory Note Issued on April 21, 2021 | Prime Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%
Promissory Notes | Promissory Note Issued on April 21, 2021 | U.S. Treasury
Debt Instrument [Line Items]
Basis spread on variable rate		2.75%
Promissory Notes | Promissory Note Issued on April 21, 2021 | U.S. Treasury | Minimum
Debt Instrument [Line Items]
Interest Rate		3.25%
Promissory Notes | Promissory Note Issued on December 28, 2021
Debt Instrument [Line Items]
Interest Rate		3.25%
Description of variable rate basis		Wall Street Journal Prime Rate with minimum of 3.25%
Maturity Date		Dec. 28, 2023
Long-term debt, gross		$ 2,350,000
Promissory Notes | Promissory Note Issued on December 28, 2021 | Minimum
Debt Instrument [Line Items]
Interest Rate		3.25%
Promissory Notes | Promissory Note Issued on September 30, 2019
Debt Instrument [Line Items]
Interest Rate	4.25%	3.50%
Maturity Date		Sep. 30, 2024
Long-term debt, gross		$ 7,805,524	8,022,271
Promissory Notes | Promissory Note Issued on October 23, 2017
Debt Instrument [Line Items]
Interest Rate	4.25%	3.50%
Maturity Date		Oct. 23, 2024
Long-term debt, gross		$ 4,889,670	5,041,935
Promissory Notes | Promissory Note Issued on December 16, 2019
Debt Instrument [Line Items]
Interest Rate		10.00%
Maturity Date		Dec. 16, 2021
Long-term debt, gross			1,100,000
Promissory Notes | Promissory Note Issued on February 11, 2020
Debt Instrument [Line Items]
Interest Rate		4.17%
Maturity Date		Mar. 6, 2030
Long-term debt, gross		$ 11,150,130	$ 11,287,500

Promissory Notes - Schedule o_2

Promissory Notes - Schedule of Promissory Notes (Parenthetical) (Details) - Promissory Notes - USD ($)	1 Months Ended		3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Apr. 05, 2021	Dec. 31, 2021	Dec. 31, 2021
Promissory Note Issued on September 11, 2019
Debt Instrument [Line Items]
Promissory note issued amount				$ 3,407,391	$ 3,407,391
Promissory Note Issued on January 15, 2015 and Assumed and Modified on November 30, 2020
Debt Instrument [Line Items]
Promissory note issued amount				1,286,664	$ 1,286,664
Interest rate					3.72%
Debt Instrument, Periodic Payment, Interest	$ 3,800
Promissory Note Issued on February 4, 2021
Debt Instrument [Line Items]
Promissory note issued amount				1,275,000	$ 1,275,000
Interest rate					3.25%
Promissory Note Issued on April 21, 2021
Debt Instrument [Line Items]
Promissory note issued amount				850,000	$ 850,000
Interest rate					2.75%
Promissory Note Issued on December 28, 2021
Debt Instrument [Line Items]
Promissory note issued amount				2,350,000	$ 2,350,000
Interest rate					3.25%
Promissory Note Issued on September 30, 2019
Debt Instrument [Line Items]
Promissory note issued amount				8,260,000	$ 8,260,000
Interest rate		4.25%			3.50%
Interest and principal payment due					$ 41,500
Promissory Note Issued on October 23, 2017
Debt Instrument [Line Items]
Promissory note issued amount				5,216,749	$ 5,216,749
Interest rate		4.25%			3.50%
Interest and principal payment due					$ 27,400
Promissory Note Issued on December 16, 2019
Debt Instrument [Line Items]
Promissory note issued amount				1,900,000	$ 1,900,000
Interest rate					10.00%
Promissory Note Issued on February 11, 2020
Debt Instrument [Line Items]
Promissory note issued amount				11,287,500	$ 11,287,500
Interest rate					4.17%
Interest and principal payment due				$ 55,000
Debt Instrument, Periodic Payment, Interest			$ 39,000

Promissory Notes - Additional I

Promissory Notes - Additional Information (Details) - USD ($)	Oct. 26, 2021	Jan. 31, 2021	Feb. 28, 2021	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Amortization of debt issuance costs				$ 120,343	$ 134,898
Payments of debt issuance costs				69,780	589,133
Secured debt				28,969,295	28,356,571
Commitment Letter | American Momentum Bank
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity	$ 25,000,000
Line of credit, commitment fee	0.50%
Interest-only payment term of loan	24 months
Loan term	2 years
Minimum debt service coverage ratio to be maintained by borrower	1.50
Loan term after closing date initial loan	2 years
Borrowing under facility				2,400,000
Commitment Letter | American Momentum Bank | Floor Rate
Debt Instrument [Line Items]
Line of credit, interest rate	3.25%
Promissory Notes
Debt Instrument [Line Items]
Amortization of debt issuance costs				120,300	134,900
Payments of debt issuance costs				69,800	589,100
Long-term debt				28,969,295	$ 29,456,571
Secured debt				16,900,000
Promissory Notes | Nonrecourse
Debt Instrument [Line Items]
Secured debt				12,700,000
Promissory Notes | D C Tampa Huntsville Loan
Debt Instrument [Line Items]
Secured debt				11,100,000
Promissory Notes | Tampa Sherwin Williams Property
Debt Instrument [Line Items]
Secured debt				1,300,000
Promissory Notes | Irby Property
Debt Instrument [Line Items]
Secured debt				900,000
Promissory Notes | G S A Manteo N C Property
Debt Instrument [Line Items]
Secured debt				1,300,000
Promissory Notes | BestBuy Grand Junction, CO Property
Debt Instrument [Line Items]
Secured debt				2,400,000
Promissory Notes | Promissory Notes Required 1.50 DSCR
Debt Instrument [Line Items]
Long-term debt				$ 2,400,000
Debt service coverage ratios				1.50%
Promissory Notes | Promissory Notes Required 1.30 DSCR
Debt Instrument [Line Items]
Long-term debt				$ 1,300,000
Debt service coverage ratios				1.30%
Promissory Notes | Promissory Notes Required 1.25 DSCR
Debt Instrument [Line Items]
Long-term debt				$ 23,800,000
Debt service coverage ratios				1.25%
Promissory Notes | Promissory Notes Required 1.20 DSCR
Debt Instrument [Line Items]
Long-term debt				$ 1,300,000
Debt service coverage ratios				1.20%
Promissory Notes | Promissory Notes Required 1.15 DSCR
Debt Instrument [Line Items]
Long-term debt				$ 900,000
Debt service coverage ratios				1.15%
Promissory Notes | Bayport Loans
Debt Instrument [Line Items]
Interest Rate		4.25%	3.50%

Promissory Notes - Schedule o_3

Promissory Notes - Schedule of Minimum Required Principal Payments (Details) - Promissory Notes	Dec. 31, 2021USD ($)
Debt Instrument [Line Items]
2022	$ 580,740
2023	4,240,446
2024	12,981,450
2025	251,011
2026	261,675
2027 and beyond	11,291,666
Long-term debt, gross	$ 29,606,988

Related Party - Additional Info

Related Party - Additional Information (Details)	Nov. 30, 2020USD ($)ft²$ / sharesshares	Dec. 31, 2021Property	Dec. 31, 2020USD ($)Property
Related Party Transaction [Line Items]
Number of properties owned | Property		9	3
Agreement termination effective date		Aug. 31, 2020
Payment for asset management services related to properties owned			$ 40,135
Building In Tampa F L
Related Party Transaction [Line Items]
Acquisition of building			$ 1,847,671
Building In Tampa F L | GIP fund 1, LLC
Related Party Transaction [Line Items]
Area of property | ft²	3,500
Acquisition of building	$ 1,800,000
Debt financing	$ 1,300,000
Number of common units issued | shares	24,309
Common units issue price per share | $ / shares	$ 20
President
Related Party Transaction [Line Items]
Number of properties owned | Property		3
President | Building In Tampa F L | GIP fund 1, LLC
Related Party Transaction [Line Items]
Percentage of ownership owned	10.00%
CEO
Related Party Transaction [Line Items]
Percentage of ownership owned		100.00%

Tenant in Common Investment - A

Tenant in Common Investment - Additional Information (Details)	Aug. 13, 2021USD ($)ft²Tenant	Dec. 31, 2021USD ($)Tenant	Dec. 31, 2020Tenant
Tenant In Common Investment [Line Items]
Number of tenants | Tenant		4	4
Rockford, IL
Tenant In Common Investment [Line Items]
Area of property | ft²	15,288
Number of tenants | Tenant	1
Asset acquisition, total consideration costs	$ 4,500,000
Asset acquisition with redeemable non controlling interest contribution	650,000
Debt financing	2,700,000
Redeemable noncontrolling interest, equity, common, fair value	600,000
Redeemable noncontrolling interest, equity, fair value	950,000
Equity method investments		$ 725,100
Issuance of promissory note for property acquisition	$ 2,715,000
Promissory note issuance date	Aug. 13, 2021
Debt	$ 1,000,000
Loan repayment guaranteed by president	$ 2,700,000
Debt instrument, covenant description		The loan has normal covenants which includes DSCR 1.50:1.0.
Debt service coverage ratios	150.00%
Rockford, IL | Sunny Ridge
Tenant In Common Investment [Line Items]
Ownership percentage	36.80%
Remainder of purchase price of property funded	$ 1,200,000
Rockford, IL | Sunny Ridge | Richard Hornstrom
Tenant In Common Investment [Line Items]
Ownership percentage	50.00%

Tenant in Common Investment - C

Tenant in Common Investment - Condensed Income Statement of Tenant in Common Investment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Tenant In Common Investment [Line Items]
Total Revenue	$ 3,900,096	$ 3,520,376
Total operating expenses	5,548,202	4,864,991
Operating income	(1,648,106)	$ (1,344,615)
Tenancy In Common
Tenant In Common Investment [Line Items]
Total Revenue	141,906
Total operating expenses	107,988
Operating income	33,918
Tenancy In Common | Company Portion
Tenant In Common Investment [Line Items]
Total Revenue	52,278
Total operating expenses	39,783
Operating income	$ 12,495

Tenant in Common Investment -_2

Tenant in Common Investment - Condensed Balance Sheet of Tenant in Common Investment (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Tenant In Common Investment [Line Items]
Prepaid expenses	$ 237,592	$ 134,165
Deferred rent asset	156,842	126,655
Property, net of depreciation	41,299,681	38,531,843
Intangible asset, net of amortization	2,309,157	2,390,043
Total Assets	53,420,716	40,680,740
Accounts payable	201,627	118,462
Accounts payable - related party	100
Accrued expenses	134,816	406,125
Acquired lease intangible liability, net of amortization	577,388	415,648
Mortgage payable net of unamortized debt issuance costs	28,969,295	28,356,571
Total Liabilities and Stockholders' Equity	53,420,716	$ 40,680,740
Tenancy In Common
Tenant In Common Investment [Line Items]
Prepaid expenses	522
Deferred rent asset	2,108
Property, net of depreciation	4,341,285
Due from tenant-in-common	47,350
Total Assets	4,671,115
Accounts payable	845
Accounts payable - related party	13,696
Accrued expenses	4,751
Acquired lease intangible liability, net of amortization	42,993
Mortgage payable net of unamortized debt issuance costs	2,677,446
Total Liabilities and Stockholders' Equity	4,671,115
Tenancy In Common | Acquired Lease
Tenant In Common Investment [Line Items]
Intangible asset, net of amortization	279,850
Tenancy In Common | GIP Inc.
Tenant In Common Investment [Line Items]
Equity	725,082
Sunny Ridge | Tenancy In Common
Tenant In Common Investment [Line Items]
Equity	$ 1,206,302

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Deferred tax assets, valuation allowance	$ 1,681,665	$ 1,396,853
Deferred tax assets, operating loss carryforwards	$ 4,623,000	$ 3,349,000
Statutory rate	12.60%	17.10%

Income Taxes - Components Of Ta

Income Taxes - Components Of Tax Expense (Benefit) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Current tax benefit
Federal	$ (247,762)	$ (466,975)
State	(50,904)	(96,630)
Total current tax benefit	(298,666)	(563,605)
Deferred tax expense	144,541	266,357
Rate change adjustment	(2,844)	3,937
Valuation allowance	$ 156,969	$ 293,311

Income Taxes - Reconciliation O

Income Taxes - Reconciliation Of Income Tax (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Benefit on net loss	$ (156,142)	$ (313,001)
Nondeductible expenses	2,017	15,753
Rate change adjustment	(2,844)	3,937
Valuation allowance	$ 156,969	$ 293,311
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Statutory rate	12.60%	17.10%
Nondeductible expenses	(0.30%)	(1.00%)
Rate change adjustment	0.20%	(0.20%)
Valuation allowance	(12.50%)	(15.90%)
Tax benefit/effective rate	0.00%	0.00%

Income Taxes - Significant Comp

Income Taxes - Significant Components Of Deferred Tax Liabilities And Assets (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Tax expense for debt issuance costs	$ 157,926	$ 170,241
Loss carryforwards	1,464,345	1,161,562
Organizational costs	59,394	65,050
Total deferred tax asset	1,681,665	1,396,853
Valuation allowance	$ (1,681,665)	$ (1,396,853)

Subsequent Events - Additional

Subsequent Events - Additional Information (Details)

Mar. 18, 2022TradingDayshares

Mar. 09, 2022USD ($)ft²TenantGround

Jan. 14, 2022USD ($)ft²Tenant

Jan. 07, 2022USD ($)ft²Tenant

Jan. 03, 2022$ / shares

Oct. 05, 2021

Aug. 25, 2021

Feb. 26, 2021

Oct. 30, 2020

Jun. 23, 2020

Jan. 31, 2020

Dec. 31, 2021USD ($)Tenantshares

Dec. 31, 2020USD ($)Tenantshares

Subsequent Event [Line Items]

Number of tenants | Tenant

4

4

Asset acquisition, consideration in cash

$ 8,288,954

$ 272,849

Record Date

Aug. 31, 2021

Mar. 15, 2021

Nov. 17, 2020

Jul. 2, 2020

Feb. 28, 2020

Common stock issued upon exercise | shares

2,172,950

576,918

Dividend Tranche One

Subsequent Event [Line Items]

Record Date

Dec. 15, 2021

Dividend Tranche Two

Subsequent Event [Line Items]

Record Date

Nov. 15, 2021

Dividend Tranche Three

Subsequent Event [Line Items]

Record Date

Oct. 15, 2021

Subsequent Event | Investor

Subsequent Event [Line Items]

Class of warrant or right exercised | shares

268,360

Percentage of shares underlying warrants that may be exercised based on trading price

10.00%

Shares underlying warrants that may be exercised, number of trading days for calculation of trading price | TradingDay

10

Common stock issued upon exercise | shares

26,836

Subsequent Event | GIP LP

Subsequent Event [Line Items]

Dividends payable, amount per share | $ / shares

$ 0.054

Subsequent Event | Dividend Tranche One

Subsequent Event [Line Items]

Dividends payable, amount per share | $ / shares

$ 0.054

Record Date

Jan. 15, 2021

Dividends payable, date to be paid

Jan. 24, 2022

Subsequent Event | Dividend Tranche Two

Subsequent Event [Line Items]

Dividends payable, amount per share | $ / shares

$ 0.054

Record Date

Feb. 15, 2021

Dividends payable, date to be paid

Feb. 22, 2022

Subsequent Event | Dividend Tranche Three

Subsequent Event [Line Items]

Dividends payable, amount per share | $ / shares

$ 0.054

Record Date

Mar. 15, 2021

Dividends payable, date to be paid

Mar. 30, 2022

Purchase and Sale Agreement | Subsequent Event

Subsequent Event [Line Items]

Combination of debt, funds

$ 1,600,000

Asset acquisition, consideration in cash

$ 1,600,000

Purchase and Sale Agreement | Chicago, Illinois | Subsequent Event | Retail Building

Subsequent Event [Line Items]

Area of property | ft²

10,900

Number of tenants | Tenant

1

Asset acquisition, total consideration costs

$ 3,100,000

Remaining lease term of property

5 years

Lease annualized base rent

$ 224,000

Date of property acquired

Jan. 7, 2022

Purchase and Sale Agreement | Tuscon, Arizona | Subsequent Event | Retail Building

Subsequent Event [Line Items]

Area of property | ft²

88,700

Number of tenants | Tenant

1

Asset acquisition, total consideration costs

$ 7,300,000

Combination of debt, funds

3,700,000

Asset acquisition, consideration in cash

$ 3,700,000

Remaining lease term of property

8 years

Lease annualized base rent

$ 824,000

Purchase and Sale Agreement | Tuscon, Arizona | Subsequent Event | Retail Building | Land Lease

Subsequent Event [Line Items]

Remaining lease term of property

7 years

Lease annualized base rent

$ 233,000

Lease available renewal options | Ground

11

Contribution and Subscription Agreement | Subsequent Event

Subsequent Event [Line Items]

Combination of debt, funds

$ 1,100,000

Proceeds from issuance of operating partnership units

$ 1,100,000

Contribution and Subscription Agreement | Tampa, Florida | Subsequent Event | Retail Building

Subsequent Event [Line Items]

Area of property | ft²

2,600

Number of tenants | Tenant

1

Asset acquisition, total consideration costs

$ 2,200,000

Remaining lease term of property

5 years

Lease annualized base rent

$ 135,000