Mobile Infrastructure (BEEP) 10-K 11 Mar 25 2024 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2024	Feb. 28, 2025	Jun. 28, 2024
Document Information [Line Items]
Entity Central Index Key	0001847874
Entity Registrant Name	Mobile Infrastructure Corp
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2024
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Document Transition Report	false
Entity File Number	001-40415
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	32-0777356
Entity Address, Address Line One	30 W. 4th Street
Entity Address, City or Town	Cincinnati
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45202
City Area Code	513
Local Phone Number	834-5110
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	BEEP
Security Exchange Name	NYSE
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
Document Financial Statement Error Correction [Flag]	true
Document Financial Statement Restatement Recovery Analysis [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 51,700,000
Entity Common Stock, Shares Outstanding		42,600,000
Auditor Firm ID	34
Auditor Name	Deloitte & Touche LLP
Auditor Location	Cincinnati, OH

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Investments in real estate
Land and Land Improvements	$ 157,922,000	$ 161,291,000
Buildings and improvements	259,750,000	260,966,000
Construction in progress	13,000	273,000
Intangible assets	10,063,000	10,187,000
Real Estate Investment Property, at Cost	427,748,000	432,717,000
Accumulated depreciation and amortization	(38,018,000)	(29,838,000)
Total investments in real estate, net	389,730,000	402,879,000
Cash	10,655,000	11,134,000
Cash – restricted	5,164,000	5,577,000
Accounts receivable, net	3,516,000	2,269,000
Notes receivable	3,120,000	0
Other assets	2,877,000	1,378,000
Total assets	415,062,000	423,237,000
Liabilities [Abstract]
Notes payable, net	185,921,000	134,380,000
Revolving credit facility, net	0	58,523,000
Line of credit	27,238,000	0
Accrued preferred distributions and redemptions	596,000	10,464,000
Earn-Out liability	935,000	1,779,000
Total liabilities	225,791,000	220,282,000
Mobile Infrastructure Corporation Stockholders’ Equity
Common stock, $0.0001 par value, 500,000,000 shares authorized, 40,376,974 and 27,858,539 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively	2,000	2,000
Warrants issued and outstanding – 2,553,192 warrants as of December 31, 2024 and December 31, 2023	3,319,000	3,319,000
Additional paid-in capital	306,718,000	262,184,000
Accumulated deficit	(140,056,000)	(134,291,000)
Total Mobile Infrastructure Corporation Stockholders’ Equity	169,983,000	131,214,000
Non-controlling interest	19,288,000	71,741,000
Total equity	189,271,000	202,955,000
Total liabilities and equity	415,062,000	423,237,000
Series A Preferred Stock [Member]
Mobile Infrastructure Corporation Stockholders’ Equity
Preferred stock, value	0	0
Series 1 Preferred Stock [Member]
Mobile Infrastructure Corporation Stockholders’ Equity
Preferred stock, value	0	0
Series 2 Preferred Stock [Member]
Mobile Infrastructure Corporation Stockholders’ Equity
Preferred stock, value	0	0
Nonrelated Party [Member]
Liabilities [Abstract]
Accounts Payable and Accrued Liabilities	10,634,000	14,666,000
Related Party [Member]
Liabilities [Abstract]
Accounts Payable and Accrued Liabilities	$ 467,000	$ 470,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	40,376,974	27,858,539
Common stock, shares outstanding (in shares)	40,376,974	27,858,539
Warrant issued (in shares)	2,553,192	2,553,192
Warrant outstanding (in shares)	2,553,192	2,553,192
Series A Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	50,000	50,000
Preferred stock, shares issued (in shares)	1,949	2,812
Preferred stock, shares outstanding (in shares)	1,949	2,812
Preferred stock, liquidation preference	$ 1,949,000	$ 2,812,000
Series 1 Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	97,000	97,000
Preferred stock, shares issued (in shares)	18,165	36,677
Preferred stock, shares outstanding (in shares)	18,165	36,677
Preferred stock, liquidation preference	$ 18,165,000	$ 36,677,000
Series 2 Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	60,000	60,000
Preferred stock, shares issued (in shares)	46,000	46,000
Preferred stock, liquidation preference	$ 0	$ 0
Preferred stock, shares converted (in shares)	46,000	46,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Revenues
Managed property revenue	$ 27,848	$ 0
Total revenues	37,008	30,272
Operating expenses
Property taxes	7,256	7,178
Property operating expense	7,119	1,985
Depreciation and amortization	8,403	8,512
General and administrative	10,794	13,160
Preferred Series 2 - issuance expense	0	16,101
Professional fees	1,759	1,724
Organizational, offering and other costs	0	2,862
Impairment	157	8,982
Total expenses	35,488	60,504
Other
Interest expense, net	(13,830)	(13,910)
Gain on sale of real estate	2,651	660
Other income, net	434	1,179
Change in fair value of Earn-Out liability	844	4,065
Total other expense	(9,901)	(8,006)
Net loss	(8,381)	(38,238)
Net loss attributable to non-controlling interest	(2,616)	(13,115)
Net loss attributable to Mobile Infrastructure Corporation’s stockholders	(5,765)	(25,123)
Net loss attributable to Mobile Infrastructure Corporation’s common stockholders	$ (7,539)	$ (32,475)
Basic and diluted loss per weighted average common share:
Net loss per share attributable to Mobile Infrastructure Corporation’s common stockholders - basic and diluted (in dollars per share)	$ (0.24)	$ (2.45)
Weighted average common shares outstanding, basic and diluted (in shares)	32,007,271	13,244,388
Series A Preferred Stock [Member]
Other
Preferred stock distributions declared	$ (134)	$ (197)
Series 1 Preferred Stock [Member]
Other
Preferred stock distributions declared	(1,640)	(2,555)
Series 2 Preferred Stock [Member]
Other
Preferred stock distributions declared	0	(4,600)
Base Rent Income [Member]
Revenues
Rental income	6,195	8,165
Percentage Rent Income [Member]
Revenues
Rental income	$ 2,965	$ 22,107

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Series A Preferred Stock [Member] Preferred Stock [Member]	Series A Preferred Stock [Member] Common Stock [Member]	Series A Preferred Stock [Member] Warrants [Member]	Series A Preferred Stock [Member] Additional Paid-in Capital [Member]	Series A Preferred Stock [Member] Retained Earnings [Member]	Series A Preferred Stock [Member] Noncontrolling Interest [Member]	Series A Preferred Stock [Member]	Series 1 Preferred Stock [Member] Preferred Stock [Member]	Series 1 Preferred Stock [Member] Common Stock [Member]	Series 1 Preferred Stock [Member] Warrants [Member]	Series 1 Preferred Stock [Member] Additional Paid-in Capital [Member]	Series 1 Preferred Stock [Member] Retained Earnings [Member]	Series 1 Preferred Stock [Member] Noncontrolling Interest [Member]	Series 1 Preferred Stock [Member]	Series 2 Preferred Stock [Member] Preferred Stock [Member]	Series 2 Preferred Stock [Member] Common Stock [Member]	Series 2 Preferred Stock [Member] Warrants [Member]	Series 2 Preferred Stock [Member] Additional Paid-in Capital [Member]	Series 2 Preferred Stock [Member] Retained Earnings [Member]	Series 2 Preferred Stock [Member] Noncontrolling Interest [Member]	Series 2 Preferred Stock [Member]	Series 1 Convertible Redeemable Preferred Stock [Member] Preferred Stock [Member]	Series 1 Convertible Redeemable Preferred Stock [Member] Common Stock [Member]	Series 1 Convertible Redeemable Preferred Stock [Member] Warrants [Member]	Series 1 Convertible Redeemable Preferred Stock [Member] Additional Paid-in Capital [Member]	Series 1 Convertible Redeemable Preferred Stock [Member] Retained Earnings [Member]	Series 1 Convertible Redeemable Preferred Stock [Member] Noncontrolling Interest [Member]	Series 1 Convertible Redeemable Preferred Stock [Member]	Series A Convertible Redeemable Preferred Stock [Member] Preferred Stock [Member]	Series A Convertible Redeemable Preferred Stock [Member] Common Stock [Member]	Series A Convertible Redeemable Preferred Stock [Member] Warrants [Member]	Series A Convertible Redeemable Preferred Stock [Member] Additional Paid-in Capital [Member]	Series A Convertible Redeemable Preferred Stock [Member] Retained Earnings [Member]	Series A Convertible Redeemable Preferred Stock [Member] Noncontrolling Interest [Member]	Series A Convertible Redeemable Preferred Stock [Member]	Series1 Preferred Stock Converted to Common Stock [Member] Preferred Stock [Member]	Series1 Preferred Stock Converted to Common Stock [Member] Common Stock [Member]	Series1 Preferred Stock Converted to Common Stock [Member] Warrants [Member]	Series1 Preferred Stock Converted to Common Stock [Member] Additional Paid-in Capital [Member]	Series1 Preferred Stock Converted to Common Stock [Member] Retained Earnings [Member]	Series1 Preferred Stock Converted to Common Stock [Member] Noncontrolling Interest [Member]	Series1 Preferred Stock Converted to Common Stock [Member]	Series A Preferred Stock Converted to Common Stock [Member] Preferred Stock [Member]	Series A Preferred Stock Converted to Common Stock [Member] Common Stock [Member]	Series A Preferred Stock Converted to Common Stock [Member] Warrants [Member]	Series A Preferred Stock Converted to Common Stock [Member] Additional Paid-in Capital [Member]	Series A Preferred Stock Converted to Common Stock [Member] Retained Earnings [Member]	Series A Preferred Stock Converted to Common Stock [Member] Noncontrolling Interest [Member]	Series A Preferred Stock Converted to Common Stock [Member]	Series 2 Preferred Stock Converted to Common Stock [Member] Preferred Stock [Member]	Series 2 Preferred Stock Converted to Common Stock [Member] Common Stock [Member]	Series 2 Preferred Stock Converted to Common Stock [Member] Warrants [Member]	Series 2 Preferred Stock Converted to Common Stock [Member] Additional Paid-in Capital [Member]	Series 2 Preferred Stock Converted to Common Stock [Member] Retained Earnings [Member]	Series 2 Preferred Stock Converted to Common Stock [Member] Noncontrolling Interest [Member]	Series 2 Preferred Stock Converted to Common Stock [Member]	Preferred Stock [Member]	Common Stock [Member]	Warrants [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total
Balance (in shares) at Dec. 31, 2022																																																									42,673	13,089,848
Balance at Dec. 31, 2022																																																									$ 0	$ 0	$ 3,319	$ 193,176	$ (109,168)	$ 99,681	$ 187,008
Equity-based compensation (in shares)																																																									0	0
Equity-based compensation																																																									$ 0	$ 0	0	19	0		7,484
Equity-based compensation																																																														7,465
Distributions to non-controlling interest holders																																																									$ 0	$ 0	0	0	0	(463)	(463)
Distributions	$ 0	$ 0	$ 0	$ (197)	$ 0	$ 0	$ (197)	$ 0	$ 0	$ 0	$ (2,555)	$ 0	$ 0	$ (2,555)	$ 0	$ 0	$ 0	$ (4,600)	$ 0	$ 0	$ (4,600)
Conversions (in shares)																																				(3,134)	967,346						(50)	13,883						(46,000)	13,787,462
Conversions																																				$ 0	$ 0	$ 0	$ 778	$ 0	$ 0	$ 778	$ 0	$ 0	$ 0	$ 13	$ 0	$ 0	$ 13	$ 0	$ 2	$ 0	$ 0	$ 0	$ 0	$ 2
Reverse Recapitalization, net of issuance costs (in shares)																																																									46,000	0
Fair value of Series 2 Preferred Stock																																																									$ 0	$ 0	0	53,723	0	0	53,723
Allocation of equity to non-controlling interest																																																									0	0	0	21,827	0	(21,827)	0
Net income (loss)																																																									$ 0	$ 0	0	0	(25,123)	(13,115)	(38,238)
Purchase of minority interest in subsidiary																																																														(7,465)
Redemptions (in shares)																												0							0
Balance (in shares) at Dec. 31, 2023																																																									39,489	27,858,539
Balance at Dec. 31, 2023																																																									$ 0	$ 2	3,319	262,184	(134,291)	71,741	202,955
Equity-based compensation																																																									0	0	0	(144)	0	1,644	1,500
Distributions to non-controlling interest holders																																																									0	0	0	0	0	(208)	(208)
Distributions	$ 0	$ 0	$ 0	$ (134)	$ 0	$ 0	$ (134)	$ 0	$ 0	$ 0	$ (1,640)	$ 0	$ 0	$ (1,640)
Conversions (in shares)																																				(7,958)	2,789,900						(583)	192,656
Conversions																																				$ 0	$ 0	$ 0	$ 2,281	$ 0	$ 0	$ 2,281	$ 0	$ 0	$ 0	$ 171	$ 0	$ 0	$ 171
Allocation of equity to non-controlling interest																																																									0	0	0	53,243	0	(53,279)	(36)
Net income (loss)																																																									0	0	0	0	(5,765)	(2,616)	(8,381)
Equity based payments																																																									0	0	0	1,392	0	5,294	6,686
Purchase of minority interest in subsidiary																																																									$ 0	$ 0	0	144	0	(1,644)	(1,500)
Issuance of common stock (in shares)																																																									0	500,000
Issuance of common stock																																																									$ 0	$ 0	0	1,740	0	0	$ 1,740
Share repurchase program (in shares)																																																									0	(419,188)					(419,188)
Share repurchase program																																																									$ 0	$ 0	0	(1,326)	0	0	$ (1,326)
Redemptions (in shares)																						(10,554)	0					(10,600)	(280)	0					(300)
Redemptions																						$ 0	$ 0	$ 0	$ (11,057)	$ 0	$ 0	$ (11,057)	$ 0	$ 0	$ 0	$ (280)	$ 0	$ 0	$ (280)
Balance (in shares) at Dec. 31, 2024																																																									20,114	40,376,974
Balance at Dec. 31, 2024																																																									$ 0	$ 2	$ 3,319	$ 306,718	$ (140,056)	$ 19,288	$ 189,271

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Equity (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Series A Preferred Stock [Member]
Preferred Stock, Dividends Per Share, Declared (in dollars per share)	$ 57.5	$ 75
Series 1 Preferred Stock [Member]
Preferred Stock, Dividends Per Share, Declared (in dollars per share)	$ 55	70
Series 2 Preferred Stock [Member]
Preferred Stock, Dividends Per Share, Declared (in dollars per share)		$ 0.1

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net Loss	$ (8,381)	$ (38,238)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	8,403	8,512
Amortization of loan costs	1,329	1,236
Loss on extinguishment of debt	87	105
Gain on settlement of liability	(823)	(1,155)
Loss on interest rate cap	55	151
Gain on sale of real estate	(2,651)	(660)
Equity based payment	5,719	7,484
Impairment	157	8,982
Issuance of Preferred Series 2 Stock	0	16,101
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	(844)	(4,065)
Changes in operating assets and liabilities
Due to/from related parties	(3)	156
Accounts payable and accrued expenses	(1,915)	2,809
Indemnification liability	(350)	0
Deferred offering costs	0	(3,022)
Other assets	(320)	(101)
Accounts receivable	(1,247)	(420)
Net cash (used in) operating activities	(784)	(2,125)
Cash flows from investing activities:
Capital expenditures	(511)	(1,821)
Proceeds on sale of investment in real estate	4,746	1,475
Net cash provided by (used in) investing activities	4,235	(346)
Cash flows from financing activities
Proceeds from Line of Credit	27,238	0
Payments on notes payable	(40,046)	(14,085)
Payments on Revolving Credit Facility	(58,700)	(15,000)
Proceeds from notes payable	93,400	0
Proceeds from reverse recap, net of payment of equity issuance costs	0	38,866
Payment of transaction costs for reverse recapitalization	0	(905)
Payment on interest rate cap	0	(205)
Distributions to non-controlling interest holders	(208)	(463)
Purchase of minority interest in subsidiary	(1,500)	0
Loan fees	(2,542)	0
Share repurchase plan	(1,326)	0
Shares repurchased for vesting of employee awards	(133)	0
Preferred redemption payments	(10,834)	0
Preferred dividend payments	(9,692)	0
Net cash (used in) provided by financing activities	(4,343)	8,208
Net change in cash, cash equivalents and restricted cash	(892)	5,737
Cash and cash equivalents and restricted cash, beginning of period	16,711	10,974
Cash and cash equivalents and restricted cash, end of period	15,819	16,711
Reconciliation of Cash and Cash Equivalents and Restricted Cash:
Cash and cash equivalents at beginning of period	11,134	5,758
Restricted cash at beginning of period	5,577	5,216
Cash and cash equivalents and restricted cash, beginning of period	16,711	10,974
Cash and cash equivalents at end of period	10,655	11,134
Restricted cash at end of period	5,164	5,577
Cash and cash equivalents and restricted cash, end of period	15,819	16,711
Supplemental disclosures of cash flow information:
Interest Paid	11,095	12,740
Non-cash investing and financing activities:
Distributions declared not yet paid	95	2,752
Preferred distributions paid in common stock	2,452	791
Right of use asset and lease liability	332	0
Note receivable related to disposition of property	3,120	0
Requested preferred redemptions not yet paid	503	0
Common stock issued as loan fees	$ 1,740	$ 0
Shares issued or to be issued in exchange for compensation (in shares)	1,103	0
Series 2 Preferred Stock dividend paid-in-kind	$ 0	$ 4,600
Accrued capital expenditures	$ 595	$ 647

Insider Trading Arrangements

Insider Trading Arrangements	12 Months Ended
	Dec. 31, 2024
Insider Trading Arr Line Items
Rule 10b5-1 Arrangement Terminated [Flag]	false
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Risk Management and Strategy We have processes for assessing, identifying, and managing material risks from cybersecurity threats. These processes are integrated into our overall risk management systems and include overseeing and identifying risks from cybersecurity threats associated with the use of third-party service providers. We conduct security assessments of certain third-party providers before engagement and have established monitoring procedures in our effort to mitigate risks related to data breaches or other security incidents originating from third parties.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	We have processes for assessing, identifying, and managing material risks from cybersecurity threats. These processes are integrated into our overall risk management systems and include overseeing and identifying risks from cybersecurity threats associated with the use of third-party service providers. We conduct security assessments of certain third-party providers before engagement and have established monitoring procedures in our effort to mitigate risks related to data breaches or other security incidents originating from third parties.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block]	As of the date of this Annual Report, we are not aware of any cybersecurity threats that have materially affected or are reasonably likely to materially affect us, including our business strategy, results of operations or financial condition.
Cybersecurity Risk Board of Directors Oversight [Text Block]	Governance Board of Directors The Audit Committee of our Board (the “Audit Committee”) oversees, among other things, the controls designed to assess, identify, and manage material risks from cybersecurity threats. The Audit Committee is informed of material risks from cybersecurity threats pursuant to the escalation criteria as set forth in our disclosure controls and procedures. Further, our Chief Financial Officer and our Head of Information Technology report on cybersecurity matters, including material risks and threats, to the Audit Committee, and the Audit Committee provides updates to our Board, in each case as frequently as is appropriate. Management
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee of our Board (the “Audit Committee”) oversees, among other things, the controls designed to assess, identify, and manage material risks from cybersecurity threats. The Audit Committee is informed of material risks from cybersecurity threats pursuant to the escalation criteria as set forth in our disclosure controls and procedures. Further, our Chief Financial Officer and our Head of Information Technology report on cybersecurity matters, including material risks and threats, to the Audit Committee, and the Audit Committee provides updates to our Board, in each case as frequently as is appropriate.
Cybersecurity Risk Role of Management [Text Block]	Under the oversight of the Audit Committee, and as directed by our Chief Financial Officer, our Head of Information Technology has established policies for and is primarily responsible for overseeing our cybersecurity incident response plan and related processes that are designed to assess and manage material risks from cybersecurity threats. As part of this cybersecurity program, we utilize a third-party managed information technology service provider (the “MSP”) for cybersecurity services, including threat detection and response, vulnerability assessment and monitoring, security incident response and recovery and general cybersecurity education and awareness. The MSP has the requisite experience to oversee our cybersecurity program. Our Chief Financial Officer and our Head of Information Technology are informed about and monitor the prevention, detection, mitigation, and remediation of cybersecurity incidents pursuant to criteria set forth in our incident response plan. In addition, our Chief Financial Officer and our Head of Information Technology coordinate with our legal counsel to assess and manage material risks from cybersecurity threats. Our Chief Financial Officer and our Head of Information Technology provide updates as frequently as appropriate to the Audit Committee.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Note 1 - Organization and Busin

Note 1 - Organization and Business Operations	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1 Organization and Business Operations Mobile Infrastructure Corporation (formerly known as Fifth Wall Acquisition Corp. III or “FWAC”) is a Maryland corporation. We focus on acquiring, owning and leasing parking facilities and related infrastructure, including parking lots, parking garages and other parking structures throughout the United States. We target both parking garage and surface lot properties primarily in the top 50 December 31, 2024 20 FWAC was a blank check, Cayman Islands exempted company, incorporated on February 19, 2021 one On August 25, 2023 ( 10 10 10 In connection with the Merger, Mobile Infra Operating Partnership, L.P., a Maryland limited partnership (the “Operating Partnership”), converted from a Maryland limited partnership to a Delaware limited liability company, Mobile Infra Operating Company, LLC (following the conversion, the “Operating Company”). In connection with the conversion, each outstanding unit of partnership interest of the Operating Partnership was converted automatically, on a one one one one two The Company is publicly traded on the NYSE American under the ticker “BEEP.” As a result of the Merger: • Each then issued and outstanding Class A Share and Class B Share of FWAC was converted, on a one • Each then issued and outstanding share of Legacy MIC common stock was converted into 1.5 shares of the Company's common stock; • Each share of Legacy MIC Series 1 Convertible Redeemable Preferred Stock (“Legacy MIC Series 1 1 1 • The outstanding common stock warrant of Legacy MIC to purchase 1,702,128 shares of Legacy MIC common stock at an exercise price of $11.75 per share became a warrant to purchase 2,553,192 shares of common stock of the Company at an exercise price of $7.83 per share. Additionally, on June 15, 2023, HS3, 2 2 December 31, 2023, 2 Accounting Treatment of the Merger and Retroactive Equity Application Legacy MIC determined that it was the accounting acquirer in the Merger based on an analysis of the criteria outlined in Accounting Standards Codification (“ASC”) 805, • The business affairs of the Company are controlled by the Board consisting of eight seven one seven • The management of the Company is led by Legacy MIC’s Chief Executive Officer, Manuel Chavez, III, and President and then-Chief Financial Officer, Stephanie Hogue; and • Legacy MIC was significantly larger than FWAC in terms of revenue, total assets (excluding cash) and employees. Under this method of accounting, FWAC was treated as the acquired company for financial reporting purposes. Accordingly, the Merger was treated as the equivalent of Legacy MIC issuing stock for the net assets of FWAC, accompanied by a recapitalization. The net assets of FWAC were stated at historical cost, with no In accordance with guidance applicable to these circumstances, the equity structure has been retroactively recast in all comparative periods up to the Closing Date, to reflect the equivalent number of shares of our common stock based on the exchange ratio of 1.5 established in the Merger.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 2 Summary of Significant Accounting Policies Basis of Accounting Our consolidated financial statements are prepared on the accrual basis of accounting and in accordance with principles generally accepted in the United States of America (“GAAP”) for financial information as contained in the Financial Accounting Standards Board (“FASB”) ASC, and in conjunction with rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, all normal recurring adjustments considered necessary to give a fair presentation of operating results for the periods presented have been included. Certain prior period amounts have been reclassified to conform to the current period presentation. no Going Concern The accompanying consolidated financial statements are prepared in accordance with GAAP applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The going concern basis assumes that we will be able to meet our obligations and continue our operations one one We have incurred net losses since our inception and anticipate net losses for the near future. We have $29.9 million of debt due within twelve not We are currently analyzing alternatives in order to satisfy these debt maturities. We plan to refinance the Line of Credit and note payable prior to their maturities. However, as refinancing is outside of our control, we plan to sell real estate assets as needed to satisfy the obligations. Management has determined it is probable that it will be able to successfully implement these plans. As such, we have concluded that these plans alleviate substantial doubt about the Company’s ability to continue as a going concern. Consolidation The consolidated financial statements include the accounts of the Company, the Operating Company, each of their wholly owned subsidiaries, and all other entities in which we have a controlling financial interest. For entities that meet the definition of a variable interest entity (“VIE”), we consolidate those entities when we are the primary beneficiary of the entity. We are determined to be the primary beneficiary when we possess both the power to direct activities that most significantly impact the economic performance of the VIE and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. We continually evaluate whether we qualify as the primary beneficiary and reconsider our determination of whether an entity is a VIE upon reconsideration events. All intercompany activity is eliminated in consolidation. Noncontrolling interests on our Consolidated Balance Sheets represent the portion of equity that we do not Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management makes significant estimates regarding stock issuance, equity compensation, asset impairment, and purchase price allocations to record investments in real estate, as applicable. Concentration Our operators may may December 31, 2024 2023, December 31, 2024 2023, In addition, we had concentrations in Cincinnati (18.8% and 19.4%), Detroit (10.4% and 10.3%), and Chicago (9.2% and 9.1%) based on gross book value of real estate as of December 31, 2024 2023, We had concentrations of our outstanding accounts receivable balance with Metropolis of 31.9% and 60.1% as of December 31, 2024 2023, December 31, 2024, Acquisitions All assets acquired and liabilities assumed in an acquisition of real estate accounted for as a business combination are measured at their acquisition date fair values. For acquisitions of real estate accounted for as an asset acquisition, the fair value of consideration transferred by us (including transaction costs) is allocated to all assets acquired and liabilities assumed on a relative fair value basis. In making estimates of fair values for purposes of allocating purchase price, we will utilize several sources, including independent third may We allocate the purchase price of acquired properties to tangible and identifiable intangible assets acquired based on their relative fair values. Tangible assets include land, land improvements, buildings, fixtures and tenant improvements on an as-if vacant basis. We utilize various estimates, processes and information to determine the as-if vacant property value. Estimates of value are made using customary methods, including data from appraisals, comparable sales, discounted cash flow analysis and other methods. Amounts allocated to land, land improvements, buildings and fixtures are based on valuations performed by independent third The value of lease intangibles is amortized to Depreciation and Amortization in our Consolidated Statements of Operations over the remaining term of the respective lease. If a tenant terminates its lease with us, the unamortized portion of any lease intangible is recognized over the shortened lease term. Impairment of Long-Lived Assets On a quarterly basis, we employ a multi-step approach to assess our real estate assets for possible impairment and record any impairment charges identified. The first first second third third 15 At least annually, we review indefinite-lived intangible assets for indicators of impairment. We first not Cash, Cash Equivalents and Restricted Cash We consider all highly liquid investments purchased with an original maturity of three may may may, Restricted cash primarily consists of escrowed tenant improvement funds, real estate taxes, capital improvement funds, insurance premiums and other amounts required to be escrowed pursuant to loan agreements. Revenue Recognition During 2024, 29 606, Taxes assessed by a governmental authority that are collected from a customer are excluded from revenue. See Note 4 Leases A portion of our revenue is rental income derived from leases of our real estate assets. We account for our leases in accordance with ASC Topic 842, 842” A lease is determined to be an operating, sales-type, or direct financing lease using the criteria established in ASC 842. • if the lease transfers ownership of the underlying asset to the lessee by the end of the term; • if the lease grants the lessee an option to purchase the underlying asset that is reasonably certain to be exercised; • if the lease term is for the major part of the remaining economic life of the underlying asset; or • if the present value of the sum of the lease payments and any residual value guaranteed by the lessee equals or exceeds substantially all of the fair value of the underlying asset. If none Certain of our lease agreements provide for tenant reimbursements of property taxes and other operating expenses that are variable depending upon the applicable expenses incurred. These reimbursements are accrued as Base Rental Income in our Consolidated Statements of Operations in the period in which the applicable expenses are incurred. Certain assumptions and judgments are made in estimating the reimbursements at the end of each reporting period. We do not Lease receivables are reviewed each reporting period to determine whether or not not 842, may December 31, 2024 not December 31, 2023. Allowance for Credit Losses Accounts receivable is primarily comprised of amounts owed to us for services provided under our managed property contracts. In addition, as of December 31, 2024, December 31, 2024 December 31, 2023. Investments in Real Estate Investments in real estate are recorded at cost. Improvements and replacements are capitalized when they extend the useful life of the asset. Costs of repairs and maintenance are expensed as incurred. Depreciation is recognized on a straight-line method over the estimated useful lives of each asset type. We periodically assess the reasonableness of useful lives which generally have the following lives, by asset class: up to 39 years for buildings, 15 years for land improvements, five one Stock-Based Compensation Stock-based compensation for equity awards is based on the grant date fair value of the equity awards and is recognized as General and Administrative in our Consolidated Statements of Operations over the requisite service or performance period. Forfeitures are recognized as incurred. Certain equity awards are subject to vesting based upon the satisfaction of various service, market, or performance conditions. Fair value for our performance-based awards is calculated using the Monte Carlo method, which is intended to estimate the fair value of the awards using dividend yields, expected volatilities that are primarily based on available implied data and peer group companies’ historical data, and post-vesting restriction periods. Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and net operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. Valuation allowances are established when management determines that it is more likely than not not We use a two first not second not not December 31, 2024 2023 Recently Issued Accounting Standards The following table provides a brief description of recent accounting pronouncements that could have a material effect on our consolidated financial statements: Standard Description Planned Date of Adoption Effect on Financial Statements or Other Significant Matters ASU 2023 07—Segment 280 The amendments improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. In addition, the amendments enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple segment measures of profit or loss, provide new segment disclosure requirements for entities with a single reportable segment, and contain other disclosure requirements. December 31, 2024 We adopted this standard on December 31, 2024. 18 ASU 2023 09—Income 740 The amendments require additional categories within the tax rate reconciliation and provide additional information on reconciling items that are 5% December 31, 2025 We are currently evaluating the impact the adoption of this standard will have on our disclosures. ASU 2024 01—Stock 718 The amendment clarifies how an entity determines whether a profits interest or similar award is ( 1 718 2 not January 1, 2025 We evaluated the impact of adoption of this standard and noted no ASU 2024 03—Income 220 40 This amendment requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements for public business entities December 31, 2027 We are currently evaluating the impact the adoption of this standard will have on our disclosures.

Note 3 - Reverse Recapitalizati

Note 3 - Reverse Recapitalization	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Business Combination Disclosure [Text Block]	Note 3 Reverse Recapitalization As described in Note 1, August 25, 2023. • holders of an aggregate of 27,080,715 FWAC Class A Shares, representing 95.3% of FWAC’s Class A Shares, exercised their right to redeem their shares for cash for an aggregate redemption amount of $279,018,123; • Fifth Wall Acquisition Sponsor III LLC, a Cayman Islands limited liability company (the “Sponsor”), forfeited 4,855,000 FWAC Class B Shares held by the Sponsor immediately prior to the Closing for no • 46,000 shares of Series 2 $46,000,000; • each then issued and outstanding Class A Share and Class B Share of FWAC was converted, on a one • each then issued and outstanding share of Legacy MIC common stock was converted into 1.5 shares of the Company’s common stock; • each share of Legacy MIC Series 1 1 • the outstanding common stock warrant of Legacy MIC to purchase shares of Legacy MIC common stock at an exercise price of $11.75 per share became a warrant to purchase 2,553,192 shares of common stock of the Company at an exercise price of $7.83 per share; and • in connection with the conversion of the Operating Partnership into the Operating Company, each outstanding unit of partnership interest of the Operating Partnership converted automatically, on a one one Following the completion of the Merger, the Company had the following outstanding securities: • 13,089,848 shares of the Company’s common stock; • 39,811 shares of Series 1 • 2,862 shares of Series A Preferred Stock; • 46,000 shares of Series 2 • a warrant to purchase 2,553,192 shares of the Company’s common stock at an exercise price of $7.83 per share. Following the completion of the Merger and after giving effect to the cashless conversion of 638,298 Class A Units into 156,138 Common Units by HS3 August 29, 2023, • 27,041,813 Common Units outstanding, 13,089,848 of which are owned by the Company, representing approximately 48.4% of the outstanding Common Units; • 2,250,000 Performance Units; and • 660,329 LTIP Units. The following table reconciles the elements of the Merger to the consolidated statements of cash flows and the consolidated statement of changes in stockholder's equity/(deficit) for the year ended December 31, 2023 ( Fair value of Series 2 Preferred Stock $ 66,700 Common stock issued in exchange for FWAC Class A and B 4,552 Less: Fair value of Earn-Out Shares issued (5,844 ) Less: Equity-allocated offering costs (11,685 ) Impact to Addition-Paid in Capital 53,723 Less: Non-cash Preferred Series 2 issuance expense (16,101 ) Earn-Out liability recognized 5,844 Less: Series 2 Preferred Stock dividend paid-in-kind recognized (4,600 ) Net cash proceeds $ 38,866 1,900,000 FWAC Class B Shares that converted to the Company’s common stock are subject to an earn-out structure (the “Earn-Out Shares”) under terms outlined in the Second Amended and Restated Sponsor Agreement. The Earn-Out Shares vest if certain milestones related to share price are achieved as further described in Footnote 15. not 15 As part of accounting for the reverse recapitalization, we evaluated the Series 2 820 480. 2 2

Note 4 - Managed Property Reven

Note 4 - Managed Property Revenues	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	Note 4 Managed Property Revenues Contracts with customers At our parking facilities, we have a performance obligation to provide access to our property and space for the parker's vehicle. As compensation for that service, we are entitled to fees that will vary based on the level of usage. Substantially all of our managed property revenues come from the following two not not not one Transient Parkers Transient Parkers include customers who arrive at our parking facilities and have the right to park in any open spot not Contract Parkers Contract parkers include customers who pay, generally in advance, to have the right to access the facility for a set period. The access will generally be for a calendar month and may no Disaggregation of revenue We disaggregate revenue from contracts with customers by Transient Parkers and Contract Parkers. We have concluded that such disaggregation of revenue best depicts the overall nature and timing of our revenue and cash flows affected by the economic factors of the respective contractual arrangement. Disaggregated revenue for the year ended December 31, 2024 For the year ended December 31, 2024 Transient Parkers $ 18,008 Contract Parkers 9,622 Ancillary Revenue (1) 218 Total Managed Property Revenue $ 27,848 ( 1 Ancillary revenue includes contracted revenue for other uses outside of parking, such as billboard revenue, and is recognized over time. Contract balances The timing of revenue recognition, billings and cash collections results in accounts receivable and contract liabilities. Accounts receivable represent amounts where we have an unconditional right to the consideration and therefore only the passage of time is required for us to receive consideration due from the customer. Receivables may December 31, 2024, It is our standard procedure to bill Contract Parkers in the month prior to when they will be using the facility in accordance with agreed-upon contractual terms. Billing typically occurs prior to revenue recognition, resulting in contract liabilities. The majority of any contract liability will be recognized at end of the following month. Changes in deferred revenue primarily include prepayments for future parking months and recognition of previously deferred revenue. No December 31, 2024, no December 31, 2023.

Note 5 - Acquisitions and Dispo

Note 5 - Acquisitions and Dispositions of Investments in Real Estate	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	Note 5 Acquisitions and Dispositions of Investments in Real Estate 2024 In February 2024, 24 February 2025. In July 2024, one In November 2024, 2023 In February 2023,

Note 6 - Intangible Assets

Note 6 - Intangible Assets	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	Note 6 Intangible Assets Intangible assets and related accumulated amortization consisted of the following for the years ended December 31, 2024 2023 2024 2023 Gross carrying Accumulated Gross carrying Accumulated amount amortization amount amortization In-place lease value $ 2,418 $ 2,119 $ 2,443 $ 1,845 Lease commissions — — 182 136 Indefinite lived contract 3,160 — 3,160 — Acquired technology 4,485 1,498 4,402 1,009 Total intangible assets $ 10,063 $ 3,617 $ 10,187 $ 2,990 Amortization of the in-place lease value, lease commissions and acquired technology are included in Depreciation and Amortization in our Consolidated Statements of Operations. Amortization expense associated with intangible assets totaled $0.8 December 31, 2024 2023 Estimated future amortization of intangible assets as of December 31, 2024 five Acquired in-place leases Acquired Technology 2025 $ 179 $ 497 2026 106 497 2027 14 468 2028 — 450 2029 — 408 Thereafter — 667

Note 7 - Debt

Note 7 - Debt	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 7 Debt As of December 31, 2024 2023 Interest Loan Balance as Balance as Loan Rate Maturity of 12/31/24 of 12/31/2023 322 Streeter Holdco, LLC 3.50 % 12/6/2024 $ — $ 24,672 MVP Houston Saks Garage, LLC 4.25 % 8/6/2025 2,735 2,851 Minneapolis City Parking, LLC 4.50 % 5/1/2026 4,059 4,223 MVP Bridgeport Fairfield Garage, LLC 4.00 % 8/1/2026 3,387 3,531 West 9th Properties II, LLC 4.50 % 11/1/2026 4,181 4,343 MVP Fort Worth Taylor, LLC 4.50 % 12/1/2026 10,408 10,807 MVP Detroit Center Garage, LLC 5.52 % 2/1/2027 25,913 26,759 2027 KeyBank Loan Pool (1) 4.90 % 5/1/2027 11,094 11,415 2027 Canton Commercial Real Estate Loan Pool (2) 5.03 % 5/6/2027 16,250 16,249 St Louis Cardinal Lot DST, LLC 5.25 % 5/31/2027 6,000 6,000 MVP Preferred Parking, LLC 5.02 % 8/1/2027 10,789 11,028 Mabley Place Garage, LLC (5) 12/4/2027 12,000 7,428 2029 KeyBank Loan Pool (3) 7.94 % 3/1/2029 5,843 5,500 2034 CMBS Loan (4) 7.76 % 12/6/2034 75,500 — Less unamortized loan issuance costs (2,238 ) (426 ) $ 185,921 $ 134,380 ( 1 2027 1935 ( 2 2027 ( 3 2029 2013, 2013, ( 4 2034 1W7 222 7th 222 322 1725 ( 5 As discussed below, the interest rate on the Mabley Place Garage, LLC loan is SOFR plus a spread of 3.25% March 2025 7.29%. In February 2024, 2013 five December 2024, three In December 2024, 2 "2034 2034 seven 2034 322 2034 For many of our loan agreements, reserve funds are required for repairs and replacements, real estate taxes, and insurance premiums. Some notes contain various terms and conditions including debt service coverage ratios and debt yield limits. As of December 31, 2024 one December 31, 2024 two As of December 31, 2024 2025 $ 5,828 2026 23,496 2027 79,039 2028 586 Thereafter 79,210 Total $ 188,159 Revolving Credit Facility In March 2022, April 1, 2023 ( March 2024, June 2025 SOFR April 2024, first October 2024. October 2024, second April 1, 2025 September 2024, Upon closing of the Line of Credit, as defined below, we remitted $5.0 million of the proceeds to pay down outstanding borrowings under the Credit Agreement. Upon closing of the 2034 Line of Credit In September 2024, September 2025 1 1 No Upon drawing the first 180 one December 31, 2024 As of December 31 2024, February 28, 2025, Interest Rate Swap In December 2024, December 2027, December 31, 2024. March 2025. not

Note 8 - Equity

Note 8 - Equity	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Equity [Text Block]	Note 8 Equity Prior to the Merger, Legacy MIC had two two 1 2 By virtue of the consummation of the Merger, the Sponsor owns 1,900,000 Earn-Out Shares subject to vesting restrictions and forfeiture under the terms of the Sponsor Agreement, as follows: (a) 950,000 Earn-Out Shares will vest at such time as the aggregate volume-weighted average price per share of our common stock for any 5 not December 31, 2026) 5 not December 31, 2028). Series A Convertible Redeemable Preferred Stock The terms of the Series A Preferred Stock provide that the holders of the Series A Preferred Stock are entitled to receive, when and as authorized by the Board and declared by us out of legally available funds, cumulative cash dividends on each share at an annual rate of 5.75% of the stated value pari passu with the dividend preference of the Series 1 Series 1 The terms of the Series 1 1 Series 1 In March 2020, 1 September 11, 2024, 1 September 10, 2024. 1 2024. Series 1 Upon receipt of written notice to convert shares of Series 1 $1,000, 1 100% $1,000, not 20 During the year ended December 31, 2024 1 1 December 31, 2024 December 31, 2024 1 During the year ended December 31, 2023, 1 No 1 December 31, 2023. Series 2 On June 15, 2023, 2 The Series 2 December 31, 2023. 2 2 2 Warrants In accordance with its warrant agreement between Legacy MIC and Color Up, dated August 25, 2021 ( one As of the Closing Date, FWAC, Legacy MIC, and Color Up amended the Warrant Agreement to assume the Common Stock Warrants remaining outstanding and unexpired at that time. On August 29, 2023, not The Common Stock Warrants expire on August 25, 2026 Securities Purchase Agreement In November 2021, HS3 HS3 HS3 may 4 2 August 29, 2023, HS3 Convertible Noncontrolling Interests As of December 31, 2024 six first December 31, 2024 one one In connection with the refinancing of the the note payable for Mabley Place Garage, LLC, we purchased the minority interest ownership in the subsidiary for $1.5 million. The Common Units not December 31, 2024 Share Repurchase Program In September 2024, may may 10b 18 1934, may 10b5 1 December 31, 2024 February 28, 2025,

Note 9 - Stock-based Compensati

Note 9 - Stock-based Compensation	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	Note 9 Long-Term Incentive Plan We issue equity-based awards to promote the success and enhance the value of MIC and the Operating Company, by linking the individual interests of employees, consultants and members of the MIC Board to those of MIC’s stockholders and by providing such individuals with an incentive for outstanding performance to generate superior returns to MIC’s stockholders. We issue awards under our 2023 first Employee Awards In 2024, • 0.3 million LTIP units to Mr. Chavez in lieu of his salary for 2021 2023 2023 2024 four 2024. • 0.4 million LTIP units and 0.2 million restricted stock units awarded at a grant date fair value of $3.84 to two 2023 2024. three • 0.1 million LTIP Units and 0.1 million restricted stock units with a grant date fair value of $6.11 to three 2000 January 2027. • Approximately 56,000 restricted stock units awarded to one three • Two tranches of 0.1 million restricted stock units that vest upon achievement of stock price performance goals (the “Founders’ Award”). The fair value of both tranches was determined using the Monte Carlo method. The first December 31, 2026, second December 31, 2028, two December 31, 2028 In February 2023, 2022 three In September 2023, December 31, 2023. December 2023, August 2024. one Director Awards In January 2024, 2023 2024. one We granted approximately 39,100 LTIP Units in 2023 2022. three December 31, 2024. The following table sets forth a roll forward of all incentive equity awards for the years ended December 31, 2024 2023 Number of Incentive Equity Awards Weighted-Average Grant Date FV Per Share Nonvested - January 1, 2023 2,673,041 $ 8.44 Granted 347,082 7.46 Vested (59,681 ) 9.40 Forfeited (135,320 ) 10.00 Nonvested - January 1, 2024 2,825,122 $ 8.22 Granted 1,670,123 3.63 Vested (864,616 ) 6.19 Forfeited — — Nonvested - December 31, 2024 3,630,629 $ 6.59 We recognized $5.7 million and $8.6 million of equity-based compensation expense for the years ended December 31, 2024 2023 2024 2023 may

Note 10 - Employee Benefit Plan

Note 10 - Employee Benefit Plan	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Compensation and Employee Benefit Plans [Text Block]	Note 10 Employee Benefit Plan We sponsor a 401 first 6% Total expense recorded for the matching 401 December 31, 2024 2023 $140,000 and

Note 11 - Earnings Per Share

Note 11 - Earnings Per Share	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 11 Earnings Per Share Basic and diluted loss per weighted average common share (“EPS”) is calculated by dividing net income (loss) attributable to our common stockholders, including any participating securities, by the weighted average number of shares outstanding for the period. We include the effect of participating securities in basic and diluted earnings per share computations using the two two December 31, 2024 2023 2.8 million un December 31, 2024 2023 The following table reconciles the numerator and denominator used in computing our basic and diluted per-share amounts for net loss attributable to common stockholders for the years ended December 31, 2024 2023 2024 2023 Numerator: Net loss attributable to MIC $ (7,539 ) $ (32,475 ) Net loss attributable to participating securities — — Net loss attributable to MIC common stock $ (7,539 ) $ (32,475 ) Denominator: Basic and dilutive weighted average shares of common stock outstanding 32,007,271 13,244,388 Basic and diluted loss per weighted average common share: Basic and dilutive $ (0.24 ) $ (2.45 )

Note 12 - Leases

Note 12 - Leases	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Leases of Lessor and Lessee [Text Block]	Note 12 Leases Lessor All of our leases are classified as operating leases. The following table summarizes the components of operating lease revenue recognized during the years ended December 31, 2024 2023 Year Ended December 31, Lease revenue 2024 2023 Fixed contractual payments $ 5,782 $ 7,103 Variable lease payments $ 3,332 $ 23,100 Straight-line rental income $ 46 $ 70 Future fixed contractual lease payments to be received under non-cancelable operating leases in effect as of December 31, 2024 , assuming no new or renegotiated leases or option extensions on lease agreements are executed, are as follows (excluding leases subsequently replaced by asset management contracts, dollars in thousands): Years Ending December 31, Future lease payments due 2025 $ 5,193 2026 $ 4,407 2027 $ 2,350 2028 $ 1,195 2029 $ 932 Thereafter $ 1,184 Lessee - Right of Use Asset and Lease Liability We are the lessee in a ground lease for additional space at one January 1, 2024. fourteen first 2016 02, 842 Land and Improvements Accounts Payable and Accrued Expenses December 31, 2024. not As of December 31, 2024, As of December 31, 2024 2025 40 2026 40 2027 40 2028 40 2029 40 Thereafter 326 Total lease payments 526 Less amount representing interest (207 ) Total $ 319

Note 13 - Variable Interest Ent

Note 13 - Variable Interest Entities	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Variable Interest Entity Disclosure [Text Block]	Note 13 Variable Interest Entities We, through a wholly owned subsidiary of the Operating Company, own a 51.0% beneficial interest in MVP St. Louis Cardinal Lot, DST, a Delaware Statutory Trust (“MVP St. Louis”). MVP St. Louis is the owner of a 2.56-acre, 376-vehicle commercial parking lot, known as the Cardinal Lot. MVP St. Louis is considered VIE and we conclude that we are the primary beneficiary since the power to direct the activities that most significantly impact the economic performance of MVP St. Louis was held by MVP Parking DST, LLC (the “Manager”) and certain subsidiaries of the Manager, which is controlled by Mr. Chavez. As a result, we consolidate our investment in MVP St. Louis and MVP St. Louis Cardinal Lot Master Tenant, LLC, which had total assets of approximately $11.9 and $13.0 million (substantially all real estate investments) and liabilities of approximately $6.0 and $6.6 million (substantially all mortgage debt) before consolidation as of December 31, 2024 2023,

Note 14 - Income Taxes

Note 14 - Income Taxes	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 14 Income Taxes Legacy MIC previously elected to be taxed as a REIT for federal income tax purposes and operated in a manner that allowed Legacy MIC to qualify as a REIT through December 31, 2019. 19 not not December 31, 2020. not 2020. A full valuation allowance for deferred tax assets was historically provided each year as it was more likely than not not December 31, 2024 three December 31, 2024 December 31, 2024 may not The provision for income taxes for the years ended December 31, 2024 2023 2024 2023 Current Federal — — State 57 41 Total Current $ 57 $ 41 Deferred Federal — — State — — Total Deferred — — Total $ 57 $ 41 The following table presents a reconciliation of the statutory corporate U.S. federal income tax rate to our effective tax rate as of December 31, 2024 2024 2023 Tax at U.S. statutory rate 21.00 % 21.00 % State taxes, net of federal effect 1.62 % 2.13 % Non-Deductible Expenses 0.59 % (9.85 )% Change in Valuation Allowance (23.21 )% (13.40 )% Effective income tax rate — — The balances for deferred taxes for the years ended December 31, 2024 2023 Year Ended December 31, 2024 2023 Deferred Tax Assets: NOL Carryforward $ 19,958 $ 17,522 Intangible Assets 3,766 4,171 Investment in Operating Partnership 9,399 9,631 Gross deferred tax assets $ 33,123 $ 31,324 Less valuation allowance (33,123 ) (31,324 ) Total deferred tax assets $ — $ — Deferred Tax Liabilities: Total net deferred taxes $ — $ — As of December 31, 2024 2023. 2018 80% 2018 2036

Note 15 - Fair Value

Note 15 - Fair Value	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 15 Fair Value A fair value measurement is based on the assumptions that market participants would use in pricing an asset or liability in an orderly transaction. The hierarchy for inputs used in measuring fair value are as follows: Level 1 Level 2 not Level 3 In certain cases, the inputs used to measure fair value may Our financial instruments include cash and cash equivalents, restricted cash, accounts receivable, notes receivable and accounts payable. Due to their short maturities or recent nature, the carrying amounts of these assets and liabilities approximate fair value. The estimated fair value of our notes payable, including the Revolving Credit Facility in 2023, 2 ates $186.7 December 31, 2024 2023 December 31, 2024 Recurring and Nonrecurring Fair Value Measurements Our Earn-Out Shares and interest rate cap are measured and recognized at fair value on a recurring basis, while certain real estate assets and liabilities are measured and recognized at fair value as needed. Fair value measurements that occurred as of and during the years ended December 31, 2024 2023 December 31, 2024 December 31, 2023 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Recurring Earn-Out Shares — — $ 935 — — $ 1,779 Interest — — — — $ 54 — Nonrecurring Impaired real estate assets — — $ 450 — — $ 50,536 Earn-Out Shares The terms of the Earn-Out Shares allow an additional 1,900,000 shares to vest if certain milestones are achieved: • 950,000 shares vest if the aggregate volume-weighted average price for any 5 December 31, 2026 • 950,000 shares vest if the aggregate volume-weighted average price for any 5 December 31, 2028 We estimate the fair value of each tranche of shares separately using a Monte Carlo simulation. These estimates require us to make various assumptions about the risk-free rate, expected volatility for each tranche of the Earn-Out Shares, and other items that are unobservable and are considered Level 3 We recognized a gain of approxim ately $0.8 million and $4.1 million during the years ended December 31, 2024 and December 31, 2023, December 31, 2024 2023 Level 3 Liability Balance as of January 1, 2023 $ — Impact of the Merger (initial valuation) (5,844 ) Change in fair value recognized in earnings 4,065 Balance as of December 31, 2023 (1,779 ) Change in fair value recognized in earnings 844 Balance as of December 31, 2024 $ (935 ) Impairment Our real estate assets are measured and recognized at fair value on a nonrecurring basis when we determine an impairment has occurred. To estimate fair value we may third may 3 December 31, 2024, December 31, 2023,

Note 16 - Commitments and Conti

Note 16 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 16 Commitments and Contingencies The nature of our business exposes our properties, the Company, the Operating Company and our other subsidiaries to the risk of claims and litigation in the normal course of business. Other than as noted below, or routine litigation arising out of the ordinary course of business, we are not In March 2023, September 6, 2023, December 31, 2023. In January 2023, 43rd July 2024, December 2022 first 2023, September 2024, December 31, 2024. In September 2023, one June 2024, December 31, 2024.

Note 17 - Related Party Transac

Note 17 - Related Party Transactions and Arrangements	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	Note 17 Related Party Transactions and Arrangements Three of our assets, 1W7 222W7 December 31, 2024 2023, In May 2022, not 21,000 531,000 120 no December 31, 2024, In connection with our recapitalization transaction in August 2021, August 2021 three We have agreed to pay for certain tax return preparation services of Color Up and certain member entities of Color Up as well as certain legal services in connection with the Registration Rights Agreement. We incurred approximately $0.1 million and approximately $50,000 related to these services which is reflected in General and Administrative and Other Income (Expense), respectively, on the Consolidated Statements of Operations for the year ended December 31, 2024. License Agreement On August 25, 2021, Tax Matters Agreement On August 25, 2021, 1 tenth 2 tenth 20% Line of Credit In September 2024, No 7

Note 18 - Segment Information

Note 18 - Segment Information	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 18 Segment Information Our principal business is the ownership and operation of parking facilities. We do not 2 The parking segment derives revenue from managed property revenue and rental income at our parking facilities. We provide access to our property and space for the parker’s vehicle and are entitled to fees that vary based on the level of usage. All revenue and assets are domestically derived and located. Our chief operating decision maker (“CODM”) is our chief executive officer. Our CODM assesses performance for the parking segment and decides how to allocate resources based on net income that is also reported on the Consolidated Statement of Operations as Net Loss. Disaggregated segment expenses are consistent with those presented on the Consolidated Statement of Operations. The measure of segment assets is reported on the Consolidated Balance Sheets as Total Assets. The CODM uses net income to evaluate return on assets. Net income is predominantly used in the annual budget and forecasting process. The CODM considers budget to actual variances in assessing performance of the segment and allocating resources. We do not For information about the parking segment for the years ended December 31, 2024 2023,

Note 19 - Revision of Previousl

Note 19 - Revision of Previously Issued Financial Information	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Error Correction [Text Block]	Note 19 Revision of Previously Issued Financial Statements During the year ended December 31, 2024, 2023 Management assessed the materiality of these errors and concluded the misstatements were not December 31, 2023. 10 As of December 31, 2023 As reported Adjustments As corrected (in thousands) Consolidated Balance Sheet: Additional paid-in capital $ 240,357 $ 21,827 $ 262,184 Non-controlling interest $ 93,568 $ (21,827 ) $ 71,741 For the Year Ended December 31, 2023 As reported Adjustments As corrected (in thousands) Consolidated Statement of Changes in Equity Allocation of equity to non-controlling interest $ — $ 21,827 $ 21,827 Additional paid-in capital $ 240,357 $ 21,827 $ 262,184 Non-controlling interest $ 93,568 $ (21,827 ) $ 71,741

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Text Block]	SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION December 31, 2024 (dollars in thousands) Costs Capitalized Subsequent to Initial Cost Acquisition Gross Carrying Amount at December 31, 2024 (1) Life on which depr Accumulated in latest Land and Buildings and Carrying Land and Building and Depreciation Date statement is Description ST Encumbrance Improvements Improvements Improvements Costs Improvements Improvements Total (2) Acquired computed West 9th Street (3) OH $ 4,181 $ 5,675 $ — $ 302 -- $ 5,918 $ 59 $ 5,977 $ 99 2016 15 Crown Colony (3) OH — 3,030 — 19 -- 2,954 — 2,954 10 2016 15 St Louis Washington MO 1,206 3,000 — 7 -- 1,637 — 1,637 3 2016 15 St Paul Holiday Garage MN 3,609 1,673 6,527 707 -- 1,673 7,234 8,907 1,556 2016 39,15 Louisville Station KY 1,682 3,050 — 57 -- 3,007 — 3,007 29 2016 15 Whitefront Garage TN 6,454 3,116 8,380 197 -- 3,116 8,576 11,692 1,861 2016 39,15 Cleveland Lincoln Garage OH 3,493 2,195 5,122 5,228 -- 1,378 8,442 9,820 2,634 2016 39,15 Houston Preston TX 1,627 2,800 — 20 -- 2,820 — 2,820 10 2016 15 Houston San Jacinto TX 1,820 3,200 — 50 -- 3,250 — 3,250 25 2016 15 MVP Detroit Center Garage MI 25,913 7,000 48,000 1,091 -- 6,497 37,711 44,208 1,501 2017 39,15 St. Louis Broadway MO 1,671 2,400 — — -- 2,400 — 2,400 — 2017 N/A St. Louis Seventh & Cerre MO 2,057 3,300 — — -- 3,300 — 3,300 — 2017 N/A MVP Preferred Parking TX 10,789 15,800 4,700 749 -- 15,230 5,279 20,509 1,184 2017 39,15 MVP Raider Park Garage TX — 2,005 9,057 3,770 -- 2,005 12,827 14,832 2,662 2017 39,15 MVP PF Memphis Poplar 2013 TN 1,783 3,658 — 24 -- 3,670 12 3,682 26 2017 15 MVP PF St. Louis 2013 MO 4,061 5,041 — 29 -- 5,041 29 5,070 51 2017 15 Mabley Place Garage OH 12,000 1,585 19,018 1,037 -- 1,360 17,280 18,640 3,301 2017 39,15 MVP Denver Sherman CO 249 705 — — -- 705 — 705 — 2017 N/A MVP Fort Worth Taylor TX 10,408 2,845 24,405 11 -- 2,845 24,416 27,261 4,426 2017 39,15 MVP Milwaukee Old World WI — 2,003 — 8 -- 2,003 8 2,011 35 2017 15 MVP Houston Saks Garage TX 2,734 4,931 5,221 152 -- 3,713 4,091 7,804 819 2017 39,15 MVP Milwaukee Wells WI — 4,994 — — -- 4,374 — 4,374 116 2017 15 MVP Indianapolis City Park IN * 2,056 8,557 114 -- 2,056 8,672 10,728 1,603 2017 39,15 MVP Minneapolis Venture MN — 4,013 — 135 -- 4,013 134 4,147 17 2017 N/A MVP Indianapolis Meridian Lot IN 938 1,573 — — -- 1,523 — 1,523 10 2017 15 MVP Milwaukee Clybourn WI — 257 — — -- 257 — 257 5 2017 15 MVP Milwaukee Arena WI 1,871 4,631 — 52 -- 4,641 42 4,683 7 2017 N/A MVP Denver 1935 Sherman CO 667 2,533 — — -- 2,533 — 2,533 — 2017 N/A MVP Bridgeport Fairfield Garage CT 3,387 498 7,555 51 -- 498 7,606 8,104 1,439 2017 39,15 Minneapolis City Parking MN 4,059 9,633 — — -- 7,513 — 7,513 139 2017 15 MVP New Orleans Rampart LA — 8,105 — 332 -- 8,167 — 8,167 14 2018 N/A MVP Hawaii Marks HI * 9,119 11,715 461 -- 8,571 11,475 20,046 2,025 2018 39,15 1W7 Carpark OH * 2,995 28,762 147 -- 2,995 28,909 31,904 2,479 2021 39, 15 222W7 OH * 4,391 23,879 99 -- 4,391 23,978 28,369 2,064 2021 39 322 Streeter IL * 11,387 27,035 581 -- 11,387 27,616 39,003 2,395 2021 39 2nd Street FL — 93 — — -- 93 — 93 — 2021 N/A Denver 1725 Champa Street Garage CO * 7,414 8,860 422 -- 7,414 9,283 16,697 784 2021 39 222 Sheraton Bricktown Garage OK * 1,314 16,020 32 -- 1,314 16,052 17,366 1,068 2022 39 MVP St. Louis Cardinal Lot DST MO 6,000 11,660 19 — -- 11,660 19 11,679 4 2017 N/A $ 112,659 $ 165,678 $ 262,832 $ 15,884 $ — $ 157,922 $ 259,750 $ 417,672 $ 34,401 ( 1 The aggregate gross cost of property included above for federal income tax purposes was approximately $419.6 million as of December 31, 2024 ( 2 The initial costs of buildings are depreciated over 39 years using a straight-line method of accounting; improvements capitalized subsequent to acquisition are depreciated over the shorter of the lease term or useful life, generally ranging from one ( 3 These properties are held by West 9 th * Property financed under the 2034 The following table reconciles the historical cost of total real estate held for investment for the years ended December 31, 2024 2023 2024 2023 Balance at beginning of period $ 422,257 $ 439,526 Additions during period: Acquisitions — — Improvements 866 1,988 Deductions during period: Dispositions (5,290 ) (696 ) Impairments (161 ) (18,561 ) Balance at close of period $ 417,672 $ 422,257 ( 1 This amount does not December 31, 2024 December 31, 2023 The following table reconciles the accumulated depreciation for the years ended December 31, 2024 2023 2024 2023 Balance at beginning of period $ 26,848 $ 28,763 Deductions during period: Impairment (4 ) (9,605 ) Depreciation of real estate 7,557 7,690 Balance at close of period $ 34,401 $ 26,848

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Accounting Our consolidated financial statements are prepared on the accrual basis of accounting and in accordance with principles generally accepted in the United States of America (“GAAP”) for financial information as contained in the Financial Accounting Standards Board (“FASB”) ASC, and in conjunction with rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, all normal recurring adjustments considered necessary to give a fair presentation of operating results for the periods presented have been included. Certain prior period amounts have been reclassified to conform to the current period presentation. no
Going Concern, Policy [Policy Text Block]	Going Concern The accompanying consolidated financial statements are prepared in accordance with GAAP applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The going concern basis assumes that we will be able to meet our obligations and continue our operations one one We have incurred net losses since our inception and anticipate net losses for the near future. We have $29.9 million of debt due within twelve not We are currently analyzing alternatives in order to satisfy these debt maturities. We plan to refinance the Line of Credit and note payable prior to their maturities. However, as refinancing is outside of our control, we plan to sell real estate assets as needed to satisfy the obligations. Management has determined it is probable that it will be able to successfully implement these plans. As such, we have concluded that these plans alleviate substantial doubt about the Company’s ability to continue as a going concern.
Consolidation, Policy [Policy Text Block]	Consolidation The consolidated financial statements include the accounts of the Company, the Operating Company, each of their wholly owned subsidiaries, and all other entities in which we have a controlling financial interest. For entities that meet the definition of a variable interest entity (“VIE”), we consolidate those entities when we are the primary beneficiary of the entity. We are determined to be the primary beneficiary when we possess both the power to direct activities that most significantly impact the economic performance of the VIE and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. We continually evaluate whether we qualify as the primary beneficiary and reconsider our determination of whether an entity is a VIE upon reconsideration events. All intercompany activity is eliminated in consolidation. Noncontrolling interests on our Consolidated Balance Sheets represent the portion of equity that we do not
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management makes significant estimates regarding stock issuance, equity compensation, asset impairment, and purchase price allocations to record investments in real estate, as applicable.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration Our operators may may December 31, 2024 2023, December 31, 2024 2023, In addition, we had concentrations in Cincinnati (18.8% and 19.4%), Detroit (10.4% and 10.3%), and Chicago (9.2% and 9.1%) based on gross book value of real estate as of December 31, 2024 2023, We had concentrations of our outstanding accounts receivable balance with Metropolis of 31.9% and 60.1% as of December 31, 2024 2023, December 31, 2024,
Business Combinations Policy [Policy Text Block]	Acquisitions All assets acquired and liabilities assumed in an acquisition of real estate accounted for as a business combination are measured at their acquisition date fair values. For acquisitions of real estate accounted for as an asset acquisition, the fair value of consideration transferred by us (including transaction costs) is allocated to all assets acquired and liabilities assumed on a relative fair value basis. In making estimates of fair values for purposes of allocating purchase price, we will utilize several sources, including independent third may We allocate the purchase price of acquired properties to tangible and identifiable intangible assets acquired based on their relative fair values. Tangible assets include land, land improvements, buildings, fixtures and tenant improvements on an as-if vacant basis. We utilize various estimates, processes and information to determine the as-if vacant property value. Estimates of value are made using customary methods, including data from appraisals, comparable sales, discounted cash flow analysis and other methods. Amounts allocated to land, land improvements, buildings and fixtures are based on valuations performed by independent third The value of lease intangibles is amortized to Depreciation and Amortization in our Consolidated Statements of Operations over the remaining term of the respective lease. If a tenant terminates its lease with us, the unamortized portion of any lease intangible is recognized over the shortened lease term.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment of Long-Lived Assets On a quarterly basis, we employ a multi-step approach to assess our real estate assets for possible impairment and record any impairment charges identified. The first first second third third 15 At least annually, we review indefinite-lived intangible assets for indicators of impairment. We first not
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Cash, Cash Equivalents and Restricted Cash We consider all highly liquid investments purchased with an original maturity of three may may may, Restricted cash primarily consists of escrowed tenant improvement funds, real estate taxes, capital improvement funds, insurance premiums and other amounts required to be escrowed pursuant to loan agreements.
Revenue [Policy Text Block]	Revenue Recognition During 2024, 29 606, Taxes assessed by a governmental authority that are collected from a customer are excluded from revenue. See Note 4
Lessor, Leases [Policy Text Block]	Leases A portion of our revenue is rental income derived from leases of our real estate assets. We account for our leases in accordance with ASC Topic 842, 842” A lease is determined to be an operating, sales-type, or direct financing lease using the criteria established in ASC 842. • if the lease transfers ownership of the underlying asset to the lessee by the end of the term; • if the lease grants the lessee an option to purchase the underlying asset that is reasonably certain to be exercised; • if the lease term is for the major part of the remaining economic life of the underlying asset; or • if the present value of the sum of the lease payments and any residual value guaranteed by the lessee equals or exceeds substantially all of the fair value of the underlying asset. If none Certain of our lease agreements provide for tenant reimbursements of property taxes and other operating expenses that are variable depending upon the applicable expenses incurred. These reimbursements are accrued as Base Rental Income in our Consolidated Statements of Operations in the period in which the applicable expenses are incurred. Certain assumptions and judgments are made in estimating the reimbursements at the end of each reporting period. We do not Lease receivables are reviewed each reporting period to determine whether or not not 842, may December 31, 2024 not December 31, 2023.
Credit Loss, Financial Instrument [Policy Text Block]	Allowance for Credit Losses Accounts receivable is primarily comprised of amounts owed to us for services provided under our managed property contracts. In addition, as of December 31, 2024, December 31, 2024 December 31, 2023.
Real Estate Held for Development and Sale, Policy [Policy Text Block]	Investments in Real Estate Investments in real estate are recorded at cost. Improvements and replacements are capitalized when they extend the useful life of the asset. Costs of repairs and maintenance are expensed as incurred. Depreciation is recognized on a straight-line method over the estimated useful lives of each asset type. We periodically assess the reasonableness of useful lives which generally have the following lives, by asset class: up to 39 years for buildings, 15 years for land improvements, five one
Share-Based Payment Arrangement [Policy Text Block]	Stock-Based Compensation Stock-based compensation for equity awards is based on the grant date fair value of the equity awards and is recognized as General and Administrative in our Consolidated Statements of Operations over the requisite service or performance period. Forfeitures are recognized as incurred. Certain equity awards are subject to vesting based upon the satisfaction of various service, market, or performance conditions. Fair value for our performance-based awards is calculated using the Monte Carlo method, which is intended to estimate the fair value of the awards using dividend yields, expected volatilities that are primarily based on available implied data and peer group companies’ historical data, and post-vesting restriction periods.
Income Tax, Policy [Policy Text Block]	Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and net operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. Valuation allowances are established when management determines that it is more likely than not not We use a two first not second not not December 31, 2024 2023
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Standards The following table provides a brief description of recent accounting pronouncements that could have a material effect on our consolidated financial statements: Standard Description Planned Date of Adoption Effect on Financial Statements or Other Significant Matters ASU 2023 07—Segment 280 The amendments improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. In addition, the amendments enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple segment measures of profit or loss, provide new segment disclosure requirements for entities with a single reportable segment, and contain other disclosure requirements. December 31, 2024 We adopted this standard on December 31, 2024. 18 ASU 2023 09—Income 740 The amendments require additional categories within the tax rate reconciliation and provide additional information on reconciling items that are 5% December 31, 2025 We are currently evaluating the impact the adoption of this standard will have on our disclosures. ASU 2024 01—Stock 718 The amendment clarifies how an entity determines whether a profits interest or similar award is ( 1 718 2 not January 1, 2025 We evaluated the impact of adoption of this standard and noted no ASU 2024 03—Income 220 40 This amendment requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements for public business entities December 31, 2027 We are currently evaluating the impact the adoption of this standard will have on our disclosures.

Note 3 - Reverse Recapitaliza_2

Note 3 - Reverse Recapitalization (Tables)	12 Months Ended
	Dec. 31, 2024
Notes Tables
Schedule of Business Acquisitions by Acquisition, Equity Interest Issued or Issuable [Table Text Block]	Fair value of Series 2 Preferred Stock $ 66,700 Common stock issued in exchange for FWAC Class A and B 4,552 Less: Fair value of Earn-Out Shares issued (5,844 ) Less: Equity-allocated offering costs (11,685 ) Impact to Addition-Paid in Capital 53,723 Less: Non-cash Preferred Series 2 issuance expense (16,101 ) Earn-Out liability recognized 5,844 Less: Series 2 Preferred Stock dividend paid-in-kind recognized (4,600 ) Net cash proceeds $ 38,866

Note 4 - Managed Property Rev_2

Note 4 - Managed Property Revenues (Tables)	12 Months Ended
	Dec. 31, 2024
Notes Tables
Disaggregation of Revenue [Table Text Block]	For the year ended December 31, 2024 Transient Parkers $ 18,008 Contract Parkers 9,622 Ancillary Revenue (1) 218 Total Managed Property Revenue $ 27,848

Note 6 - Intangible Assets (Tab

Note 6 - Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2024
Notes Tables
Schedule of Finite and Indefinite Intangible Assets [Table Text Block]	2024 2023 Gross carrying Accumulated Gross carrying Accumulated amount amortization amount amortization In-place lease value $ 2,418 $ 2,119 $ 2,443 $ 1,845 Lease commissions — — 182 136 Indefinite lived contract 3,160 — 3,160 — Acquired technology 4,485 1,498 4,402 1,009 Total intangible assets $ 10,063 $ 3,617 $ 10,187 $ 2,990
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Acquired in-place leases Acquired Technology 2025 $ 179 $ 497 2026 106 497 2027 14 468 2028 — 450 2029 — 408 Thereafter — 667

Note 7 - Debt (Tables)

Note 7 - Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Notes Tables
Schedule of Debt [Table Text Block]	Interest Loan Balance as Balance as Loan Rate Maturity of 12/31/24 of 12/31/2023 322 Streeter Holdco, LLC 3.50 % 12/6/2024 $ — $ 24,672 MVP Houston Saks Garage, LLC 4.25 % 8/6/2025 2,735 2,851 Minneapolis City Parking, LLC 4.50 % 5/1/2026 4,059 4,223 MVP Bridgeport Fairfield Garage, LLC 4.00 % 8/1/2026 3,387 3,531 West 9th Properties II, LLC 4.50 % 11/1/2026 4,181 4,343 MVP Fort Worth Taylor, LLC 4.50 % 12/1/2026 10,408 10,807 MVP Detroit Center Garage, LLC 5.52 % 2/1/2027 25,913 26,759 2027 KeyBank Loan Pool (1) 4.90 % 5/1/2027 11,094 11,415 2027 Canton Commercial Real Estate Loan Pool (2) 5.03 % 5/6/2027 16,250 16,249 St Louis Cardinal Lot DST, LLC 5.25 % 5/31/2027 6,000 6,000 MVP Preferred Parking, LLC 5.02 % 8/1/2027 10,789 11,028 Mabley Place Garage, LLC (5) 12/4/2027 12,000 7,428 2029 KeyBank Loan Pool (3) 7.94 % 3/1/2029 5,843 5,500 2034 CMBS Loan (4) 7.76 % 12/6/2034 75,500 — Less unamortized loan issuance costs (2,238 ) (426 ) $ 185,921 $ 134,380
Schedule of Maturities of Long-Term Debt [Table Text Block]	2025 $ 5,828 2026 23,496 2027 79,039 2028 586 Thereafter 79,210 Total $ 188,159

Note 9 - Stock-based Compensa_2

Note 9 - Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2024
Notes Tables
Share-Based Payment Arrangement, Activity [Table Text Block]	Number of Incentive Equity Awards Weighted-Average Grant Date FV Per Share Nonvested - January 1, 2023 2,673,041 $ 8.44 Granted 347,082 7.46 Vested (59,681 ) 9.40 Forfeited (135,320 ) 10.00 Nonvested - January 1, 2024 2,825,122 $ 8.22 Granted 1,670,123 3.63 Vested (864,616 ) 6.19 Forfeited — — Nonvested - December 31, 2024 3,630,629 $ 6.59

Note 11 - Earnings Per Share (T

Note 11 - Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2024
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	2024 2023 Numerator: Net loss attributable to MIC $ (7,539 ) $ (32,475 ) Net loss attributable to participating securities — — Net loss attributable to MIC common stock $ (7,539 ) $ (32,475 ) Denominator: Basic and dilutive weighted average shares of common stock outstanding 32,007,271 13,244,388 Basic and diluted loss per weighted average common share: Basic and dilutive $ (0.24 ) $ (2.45 )

Note 12 - Leases (Tables)

Note 12 - Leases (Tables)	12 Months Ended
	Dec. 31, 2024
Notes Tables
Operating Lease, Lease Income [Table Text Block]	Year Ended December 31, Lease revenue 2024 2023 Fixed contractual payments $ 5,782 $ 7,103 Variable lease payments $ 3,332 $ 23,100 Straight-line rental income $ 46 $ 70
Lessor, Operating Lease, Payment to be Received, Maturity [Table Text Block]	Years Ending December 31, Future lease payments due 2025 $ 5,193 2026 $ 4,407 2027 $ 2,350 2028 $ 1,195 2029 $ 932 Thereafter $ 1,184
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	As of December 31, 2024 2025 40 2026 40 2027 40 2028 40 2029 40 Thereafter 326 Total lease payments 526 Less amount representing interest (207 ) Total $ 319

Note 14 - Income Taxes (Tables)

Note 14 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	2024 2023 Current Federal — — State 57 41 Total Current $ 57 $ 41 Deferred Federal — — State — — Total Deferred — — Total $ 57 $ 41
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	2024 2023 Tax at U.S. statutory rate 21.00 % 21.00 % State taxes, net of federal effect 1.62 % 2.13 % Non-Deductible Expenses 0.59 % (9.85 )% Change in Valuation Allowance (23.21 )% (13.40 )% Effective income tax rate — —
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Year Ended December 31, 2024 2023 Deferred Tax Assets: NOL Carryforward $ 19,958 $ 17,522 Intangible Assets 3,766 4,171 Investment in Operating Partnership 9,399 9,631 Gross deferred tax assets $ 33,123 $ 31,324 Less valuation allowance (33,123 ) (31,324 ) Total deferred tax assets $ — $ — Deferred Tax Liabilities: Total net deferred taxes $ — $ —

Note 15 - Fair Value (Tables)

Note 15 - Fair Value (Tables)	12 Months Ended
	Dec. 31, 2024
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	December 31, 2024 December 31, 2023 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Recurring Earn-Out Shares — — $ 935 — — $ 1,779 Interest — — — — $ 54 — Nonrecurring Impaired real estate assets — — $ 450 — — $ 50,536
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Level 3 Liability Balance as of January 1, 2023 $ — Impact of the Merger (initial valuation) (5,844 ) Change in fair value recognized in earnings 4,065 Balance as of December 31, 2023 (1,779 ) Change in fair value recognized in earnings 844 Balance as of December 31, 2024 $ (935 )

Note 19 - Revision of Previou_2

Note 19 - Revision of Previously Issued Financial Information (Tables)	12 Months Ended
	Dec. 31, 2024
Notes Tables
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]	As of December 31, 2023 As reported Adjustments As corrected (in thousands) Consolidated Balance Sheet: Additional paid-in capital $ 240,357 $ 21,827 $ 262,184 Non-controlling interest $ 93,568 $ (21,827 ) $ 71,741 For the Year Ended December 31, 2023 As reported Adjustments As corrected (in thousands) Consolidated Statement of Changes in Equity Allocation of equity to non-controlling interest $ — $ 21,827 $ 21,827 Additional paid-in capital $ 240,357 $ 21,827 $ 262,184 Non-controlling interest $ 93,568 $ (21,827 ) $ 71,741

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation (Tables)	12 Months Ended
	Dec. 31, 2024
Notes Tables
Schedule of Real Estate Properties [Table Text Block]	Costs Capitalized Subsequent to Initial Cost Acquisition Gross Carrying Amount at December 31, 2024 (1) Life on which depr Accumulated in latest Land and Buildings and Carrying Land and Building and Depreciation Date statement is Description ST Encumbrance Improvements Improvements Improvements Costs Improvements Improvements Total (2) Acquired computed West 9th Street (3) OH $ 4,181 $ 5,675 $ — $ 302 -- $ 5,918 $ 59 $ 5,977 $ 99 2016 15 Crown Colony (3) OH — 3,030 — 19 -- 2,954 — 2,954 10 2016 15 St Louis Washington MO 1,206 3,000 — 7 -- 1,637 — 1,637 3 2016 15 St Paul Holiday Garage MN 3,609 1,673 6,527 707 -- 1,673 7,234 8,907 1,556 2016 39,15 Louisville Station KY 1,682 3,050 — 57 -- 3,007 — 3,007 29 2016 15 Whitefront Garage TN 6,454 3,116 8,380 197 -- 3,116 8,576 11,692 1,861 2016 39,15 Cleveland Lincoln Garage OH 3,493 2,195 5,122 5,228 -- 1,378 8,442 9,820 2,634 2016 39,15 Houston Preston TX 1,627 2,800 — 20 -- 2,820 — 2,820 10 2016 15 Houston San Jacinto TX 1,820 3,200 — 50 -- 3,250 — 3,250 25 2016 15 MVP Detroit Center Garage MI 25,913 7,000 48,000 1,091 -- 6,497 37,711 44,208 1,501 2017 39,15 St. Louis Broadway MO 1,671 2,400 — — -- 2,400 — 2,400 — 2017 N/A St. Louis Seventh & Cerre MO 2,057 3,300 — — -- 3,300 — 3,300 — 2017 N/A MVP Preferred Parking TX 10,789 15,800 4,700 749 -- 15,230 5,279 20,509 1,184 2017 39,15 MVP Raider Park Garage TX — 2,005 9,057 3,770 -- 2,005 12,827 14,832 2,662 2017 39,15 MVP PF Memphis Poplar 2013 TN 1,783 3,658 — 24 -- 3,670 12 3,682 26 2017 15 MVP PF St. Louis 2013 MO 4,061 5,041 — 29 -- 5,041 29 5,070 51 2017 15 Mabley Place Garage OH 12,000 1,585 19,018 1,037 -- 1,360 17,280 18,640 3,301 2017 39,15 MVP Denver Sherman CO 249 705 — — -- 705 — 705 — 2017 N/A MVP Fort Worth Taylor TX 10,408 2,845 24,405 11 -- 2,845 24,416 27,261 4,426 2017 39,15 MVP Milwaukee Old World WI — 2,003 — 8 -- 2,003 8 2,011 35 2017 15 MVP Houston Saks Garage TX 2,734 4,931 5,221 152 -- 3,713 4,091 7,804 819 2017 39,15 MVP Milwaukee Wells WI — 4,994 — — -- 4,374 — 4,374 116 2017 15 MVP Indianapolis City Park IN * 2,056 8,557 114 -- 2,056 8,672 10,728 1,603 2017 39,15 MVP Minneapolis Venture MN — 4,013 — 135 -- 4,013 134 4,147 17 2017 N/A MVP Indianapolis Meridian Lot IN 938 1,573 — — -- 1,523 — 1,523 10 2017 15 MVP Milwaukee Clybourn WI — 257 — — -- 257 — 257 5 2017 15 MVP Milwaukee Arena WI 1,871 4,631 — 52 -- 4,641 42 4,683 7 2017 N/A MVP Denver 1935 Sherman CO 667 2,533 — — -- 2,533 — 2,533 — 2017 N/A MVP Bridgeport Fairfield Garage CT 3,387 498 7,555 51 -- 498 7,606 8,104 1,439 2017 39,15 Minneapolis City Parking MN 4,059 9,633 — — -- 7,513 — 7,513 139 2017 15 MVP New Orleans Rampart LA — 8,105 — 332 -- 8,167 — 8,167 14 2018 N/A MVP Hawaii Marks HI * 9,119 11,715 461 -- 8,571 11,475 20,046 2,025 2018 39,15 1W7 Carpark OH * 2,995 28,762 147 -- 2,995 28,909 31,904 2,479 2021 39, 15 222W7 OH * 4,391 23,879 99 -- 4,391 23,978 28,369 2,064 2021 39 322 Streeter IL * 11,387 27,035 581 -- 11,387 27,616 39,003 2,395 2021 39 2nd Street FL — 93 — — -- 93 — 93 — 2021 N/A Denver 1725 Champa Street Garage CO * 7,414 8,860 422 -- 7,414 9,283 16,697 784 2021 39 222 Sheraton Bricktown Garage OK * 1,314 16,020 32 -- 1,314 16,052 17,366 1,068 2022 39 MVP St. Louis Cardinal Lot DST MO 6,000 11,660 19 — -- 11,660 19 11,679 4 2017 N/A $ 112,659 $ 165,678 $ 262,832 $ 15,884 $ — $ 157,922 $ 259,750 $ 417,672 $ 34,401
SEC Schedule III, Reconciliation of Carrying Amount of Real Estate Investments [Table Text Block]	2024 2023 Balance at beginning of period $ 422,257 $ 439,526 Additions during period: Acquisitions — — Improvements 866 1,988 Deductions during period: Dispositions (5,290 ) (696 ) Impairments (161 ) (18,561 ) Balance at close of period $ 417,672 $ 422,257
SEC Schedule III, Reconciliation of Real Estate Accumulated Depreciation [Table Text Block]	2024 2023 Balance at beginning of period $ 26,848 $ 28,763 Deductions during period: Impairment (4 ) (9,605 ) Depreciation of real estate 7,557 7,690 Balance at close of period $ 34,401 $ 26,848

Note 1 - Organization and Bus_2

Note 1 - Organization and Business Operations (Details Textual)	Aug. 25, 2023 $ / shares shares	Dec. 31, 2024 ft² $ / shares	Dec. 31, 2023 $ / shares	Aug. 29, 2023 $ / shares shares	Aug. 24, 2023 $ / shares	Jun. 15, 2023 USD ($) $ / shares shares	Aug. 25, 2021 $ / shares shares
Number of Parking Facilities		40
Number of Parking Spaces		15,100
Area of Real Estate Property (Square Foot) | ft²		5,200,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares					$ 0.0001
Series 2 Preferred Stock [Member]
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares		$ 0.0001	$ 0.0001
Shares Issued, Price Per Share (in dollars per share) | $ / shares	$ 1,000
Preferred Stock, Convertible, Shares Issuable, Including Accrued Dividends (in shares)	13,787,464					13,787,462
Preferred Stock, Convertible, Shares Issuable, Accrued Dividends (in shares)						1,253,404
Color Up to Purchase Common Stock Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	2,553,192			2,553,192			1,702,128
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares	$ 7.83			$ 7.83			$ 11.75
Series 2 Preferred Stock to be Converted into Common Shares [Member] | Scenario, Plan [Member]
Preferred Stock, Shares Subscribed but Unissued (in shares)						46,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares						$ 0.0001
Shares Issued, Price Per Share (in dollars per share) | $ / shares						$ 1,000
Preferred Stock, Value, Subscriptions | $						$ 46,000,000
Merger With FWAC [Member] | Conversion of FWAC Class A Share into New MIC Common Stock [Member]
Business Acquisition, Conversion of Stock, Conversion Ratio	1
Business Acquisition, Conversion of Stock, Share Issued Per Share Converted (in shares)	1
Merger With FWAC [Member] | Conversion of Common Stock into New MIC Common Stock [Member]
Business Acquisition, Conversion of Stock, Conversion Ratio	1.5
Business Acquisition, Conversion of Stock, Share Issued Per Share Converted (in shares)	1
Merger With FWAC [Member] | Conversion of Preferred Stock into New MIC Series 1 and Series A Preferred Stock [Member]
Business Acquisition, Conversion of Stock, Share Issued Per Share Converted (in shares)	1
OP Units [Member]
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest	90%
Retail Site [Member]
Area of Real Estate Property (Square Foot) | ft²		200

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Debt, Current	$ 29,900
Line of Credit, Current	27,200
Notes Payable, Current	2,700
Allowance For Doubtful Accounts Receivable and Financing Receivables	100
Unrecognized Tax Benefits	$ 0	$ 0
Building [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation (Year)	39 years
Land Improvements [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation (Year)	15 years
Furniture and Fixtures [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation (Year)	5 years
Tenant Improvements and Leasehold Interests [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation (Year)	1 year
Tenant Improvements and Leasehold Interests [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation (Year)	20 years
Non-creditworthy Tenants Receivables [Member]
Accounts Receivable, Allowance for Credit Loss	$ 100
Real Estate Owned [Member] | Geographic Concentration Risk [Member] | Cincinnati [Member]
Concentration Risk, Percentage	18.80%	19.40%
Real Estate Owned [Member] | Geographic Concentration Risk [Member] | Detroit [Member]
Concentration Risk, Percentage	10.40%	10.30%
Real Estate Owned [Member] | Geographic Concentration Risk [Member] | Chicago [Member]
Concentration Risk, Percentage	9.20%	9.10%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Parking Facilities, Operator, Metropolis Technologies Inc. [Member]
Concentration Risk, Percentage	31.90%	60.10%
Parking Facilities, Operator, Metropolis Technologies Inc. [Member] | Revenue Benchmark [Member] | Product Concentration Risk [Member]
Concentration Risk, Percentage	55.70%	61.30%
Parking Facilities, Operator, LAZ Parking [Member] | Revenue Benchmark [Member] | Product Concentration Risk [Member]
Concentration Risk, Percentage	15.30%	3.20%

Note 3 - Reverse Recapitaliza_3

Note 3 - Reverse Recapitalization (Details Textual)			12 Months Ended
	Aug. 29, 2023 $ / shares shares	Aug. 25, 2023 USD ($) $ / shares shares	Dec. 31, 2024 USD ($) shares	Dec. 31, 2023 shares	Jun. 15, 2023 shares	Aug. 25, 2021 $ / shares shares
Stock Repurchased and Retired During Period, Shares (in shares)			419,188
Stock Issued During Period, Value, New Issues | $			$ 1,740,000
Common Stock, Shares, Outstanding (in shares)		13,089,848	40,376,974	27,858,539
Partners' Capital Account, Units, Converted (in shares)			9,400,000
Color Up to Purchase Common Stock Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares	$ 7.83	$ 7.83				$ 11.75
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	2,553,192	2,553,192				1,702,128
Merger With FWAC [Member] | Earnout Shares [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares)		1,900,000
Business Combination, Contingent Consideration, Liability | $		$ 5,800,000
Deferred Offering Costs | $		$ 900,000
Merger With FWAC [Member] | Conversion of FWAC Class A Share into New MIC Common Stock [Member]
Business Acquisition, Conversion of Stock, Conversion Ratio		1
Business Acquisition, Conversion of Stock, Share Issued Per Share Converted (in shares)		1
Merger With FWAC [Member] | Conversion of Common Stock into New MIC Common Stock [Member]
Business Acquisition, Conversion of Stock, Conversion Ratio		1.5
Business Acquisition, Conversion of Stock, Share Issued Per Share Converted (in shares)		1
Merger With FWAC [Member] | Conversion of Preferred Stock into New MIC Series 1 and Series A Preferred Stock [Member]
Business Acquisition, Conversion of Stock, Share Issued Per Share Converted (in shares)		1
Series 2 Preferred Stock [Member]
Stock Issued During Period, Shares, New Issues (in shares)		46,000
Shares Issued, Price Per Share (in dollars per share) | $ / shares		$ 1,000
Stock Issued During Period, Value, New Issues | $		$ 46,000,000
Preferred Stock, Shares Outstanding (in shares)		46,000			46,000
Preferred Stock, Fair Value, Including Dividends | $		$ 66,700,000
Preferred Stock, Fair Value Per Share (in dollars per share) | $ / shares		$ 4.84
Preferred Stock, Convertible, Shares Issuable, Including Accrued Dividends (in shares)		13,787,464			13,787,462
Dividends Payable | $		$ 4,600,000
Proceeds from Issuance of Preferred Stock and Preference Stock | $		$ 46,000,000
Series 1 Preferred Stock [Member]
Preferred Stock, Shares Outstanding (in shares)		39,811	18,165	36,677
Series A Preferred Stock [Member]
Preferred Stock, Shares Outstanding (in shares)		2,862	1,949	2,812
OP Units [Member]
Partners' Capital Account, Units, Contributed (in shares)	156,138
Partners' Capital Account, Units, Converted (in shares)	638,298
Limited Partners' Capital Account, Units Outstanding (in shares)	13,089,848
OP Units [Member] | Operating Partnership [Member]
Percentage of Outstanding Shares	48.40%
Limited Partners' Capital Account, Units Outstanding (in shares)	27,041,813
OP Units [Member] | HS3 [Member]
Partners' Capital Account, Units, Contributed (in shares)	638,298
Partners' Capital Account, Units, Converted (in shares)	156,138
Performance Units [Member] | Operating Partnership [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding, Number (in shares)	2,250,000
LTIP Units [Member] | Operating Partnership [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding, Number (in shares)	660,329
FWAC [Member] | Common Class A [Member]
Stock Redeemed or Called During Period, Shares (in shares)		27,080,715
Percentage of Outstanding Shares		95.30%
Stock Redeemed or Called During Period, Value | $		$ 279,018,123
FWAC [Member] | Common Class B [Member]
Stock Repurchased and Retired During Period, Shares (in shares)		4,855,000

Note 3 - Reverse Recapitaliza_4

Note 3 - Reverse Recapitalization - Elements of the Merger (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Fair value of Series 2 Preferred Stock	$ 53,723
Common stock issued in exchange for FWAC Class A and B	53,723
Merger With FWAC [Member]
Less: Fair value of Earn-Out Shares issued	(5,844)
Less: Equity-allocated offering costs	(11,685)
Impact to Addition-Paid in Capital	53,723
Net cash proceeds	38,866
Merger With FWAC [Member] | Earnout Shares [Member]
Liabilities recognized	5,844
Liabilities recognized	(5,844)
Merger With FWAC [Member] | Series 2 Preferred Stock [Member]
Fair value of Series 2 Preferred Stock	66,700
Common stock issued in exchange for FWAC Class A and B	66,700
Less: Non-cash Preferred Series 2 issuance expense	(16,101)
Liabilities recognized	4,600
Liabilities recognized	(4,600)
Merger With FWAC [Member] | Common Stock [Member]
Fair value of Series 2 Preferred Stock	4,552
Common stock issued in exchange for FWAC Class A and B	$ 4,552

Note 4 - Managed Property Rev_3

Note 4 - Managed Property Revenues (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accounts Receivable, after Allowance for Credit Loss	$ 3,516	$ 2,269
Managed Property [Member]
Accounts Receivable, after Allowance for Credit Loss	3,000
Managed Property [Member] | Accounts Payable and Accrued Liabilities [Member]
Deferred Revenue	$ 200	$ 0

Note 4 - Managed Property Rev_4

Note 4 - Managed Property Revenues - Disaggregated Revenue (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023
Total Managed Property Revenue		$ 27,848	$ 0
Transient Parkers [Member]
Managed Property Revenues		18,008
Contract Parkers [Member]
Managed Property Revenues		9,622
Ancillary [Member]
Managed Property Revenues	[1]	$ 218
[1]Ancillary revenue includes contracted revenue for other uses outside of parking, such as billboard revenue, and is recognized over time.

Note 5 - Acquisitions and Dis_2

Note 5 - Acquisitions and Dispositions of Investments in Real Estate (Details Textual) - USD ($) $ in Thousands		1 Months Ended			12 Months Ended
	Feb. 28, 2023	Nov. 30, 2024	Jul. 31, 2024	Feb. 29, 2024	Dec. 31, 2024	Dec. 31, 2023
Disposal Group, Including Discontinued Operation, Consideration					$ 3,120	$ 0
Gains (Losses) on Sales of Other Real Estate					$ 2,651	$ 660
Cincinnati Race Street [Member]
Gains (Losses) on Sales of Other Real Estate				$ (100)
Parking Lot in Clarksburg, West Virginia [Member]
Proceeds from Sale, Real Estate, Other, Held-for-Investment			$ 500
Proceeds from Sale of Other Real Estate Held-for-investment, Net			$ 400
Parking Lot in Indianapolis, Indiana [Member]
Gains (Losses) on Sales of Other Real Estate		$ 2,700
Proceeds from Sale, Real Estate, Other, Held-for-Investment		4,600
Proceeds from Sale of Other Real Estate Held-for-investment, Net		$ 4,500
Parking Lot in Wildwood, NJ [Member]
Gains (Losses) on Sales of Other Real Estate	$ 700
Proceeds from Sale, Real Estate, Other, Held-for-Investment	1,500
Proceeds from Sale of Other Real Estate Held-for-investment, Net	$ 300
Cincinnati Race Street [Member]
Disposal Group, Including Discontinued Operation, Consideration				$ 3,150
Financing Receivables, Interest Rate, Stated Percentage				8%
Receivable with Imputed Interest, Face Amount				$ 3,120
Financing Receivables, Term (Month)				24 months

Note 6 - Intangible Assets (Det

Note 6 - Intangible Assets (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Amortization of Intangible Assets	$ 0.8	$ 0.8

Note 6 - Intangible Assets - Sc

Note 6 - Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Finite-lived intangible assets, accumulated amortization	$ 3,617	$ 2,990
Total intangible assets	10,063	10,187
Contract [Member]
Indefinite lived contract	3,160	3,160
Leases, Acquired-in-Place [Member]
Finite-lived intangible assets	2,418	2,443
Finite-lived intangible assets, accumulated amortization	2,119	1,845
Lease Commissions [Member]
Finite-lived intangible assets	0	182
Finite-lived intangible assets, accumulated amortization	0	136
Technology-Based Intangible Assets [Member]
Finite-lived intangible assets	4,485	4,402
Finite-lived intangible assets, accumulated amortization	$ 1,498	$ 1,009

Note 6 - Intangible Assets - _2

Note 6 - Intangible Assets - Schedule of Future Amortization and Accretion of Acquired Intangible Assets (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Leases, Acquired-in-Place [Member]
2025	$ 179
2026	106
2027	14
2028	0
2029	0
Thereafter	0
Lease Commissions [Member]
2025	497
2026	497
2027	468
2028	450
2029	408
Thereafter	$ 667

Note 7 - Debt (Details Textual)

Note 7 - Debt (Details Textual) - USD ($) $ in Thousands		1 Months Ended				12 Months Ended
	Aug. 25, 2023	Dec. 31, 2024	Sep. 30, 2024	Mar. 31, 2024	Feb. 29, 2024	Dec. 31, 2024	Feb. 28, 2025	Mar. 01, 2024	Dec. 31, 2023	Mar. 29, 2022
Debt Instrument, Debt Default, Amount		$ 25,900				$ 25,900
Restricted Cash, Current		900				900
Stock Issued During Period, Value, New Issues						1,740
Long-Term Line of Credit		$ 0				0			$ 58,523
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]		Secured Overnight Financing Rate (SOFR) [Member]		Secured Overnight Financing Rate (SOFR) [Member]
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member]
Derivative, Notional Amount		$ 12,000				$ 12,000
Derivative, Fixed Interest Rate		7.29%				7.29%
Harvest Small Cap Partners, L.P. and Harvest Small Cap Partners Master, Ltd. [Member] | Revolving Credit Facility [Member]
Debt Instrument, Interest Rate, Stated Percentage			15%
Line of Credit Facility, Maximum Borrowing Capacity			$ 40,400
Repayments of Long-Term Debt			5,000			$ 5,000
Line of Credit Facility, Contingency, Threshold for Indebtedness Before Default			$ 25,000
Proceeds from Lines of Credit						$ 15,000
Stock Issued During Period, Shares, New Issues (in shares)						500,000
Stock Issued During Period, Value, New Issues						$ 1,800
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net		$ 1,200				1,200
Long-Term Line of Credit		$ 27,200				27,200
Harvest Small Cap Partners, L.P. and Harvest Small Cap Partners Master, Ltd. [Member] | Revolving Credit Facility [Member] | Subsequent Event [Member]
Long-Term Line of Credit							$ 27,900
CMBS Loan 2034 [Member] | Revolving Credit Facility [Member]
Repayments of Long-Term Debt						48,800
Loan to MVP St. Louis and MVP Memphis Poplar [Member]
Debt Instrument, Term (Year)					5 years
Debt Instrument, Face Amount					$ 5,900
Debt Instrument, Interest Rate, Stated Percentage					7.94%
Loan to Mabley Place Garage, LLC [Member]
Debt Instrument, Term (Year)		3 years
Debt Instrument, Face Amount		$ 12,000				$ 12,000
Debt Instrument, Interest Rate, Stated Percentage		3.25%				3.25%
Loan to Argentic Real Estate Finance 2 LLC [Member]
Debt Instrument, Term (Year)		10 years
Debt Instrument, Face Amount		$ 75,500				$ 75,500
Debt Instrument, Interest Rate, Stated Percentage		7.755%				7.755%
Debt Instrument, Covenant, Minimum Net Worth Required		$ 40,000				$ 40,000
Debt Instrument, Fee Amount		$ 1,500				$ 1,500
Credit Agreement [Member]
Debt Instrument, Interest Rate, Stated Percentage								3.50%
Credit Agreement [Member] | KeyBanc Capital Markets [Member]
Debt Instrument, Interest Rate, Stated Percentage			8.20%
Line of Credit Facility, Maximum Borrowing Capacity	$ 58,700									$ 75,000
Extinguishment of Debt, Amount	$ 15,000

Note 7 - Debt - Principal Balan

Note 7 - Debt - Principal Balances on Notes Payable (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023
Long-Term Debt		$ 188,159
Notes Payable [Member]
Less unamortized loan issuance costs		(2,238)	$ (426)
Long-Term Debt		$ 185,921	134,380
Notes Payable [Member] | The 322 Streeter Holdco LLC [Member]
Interest rate		3.50%
Debt Instrument, Maturity Date		Dec. 06, 2024
Debt balance		$ 0	24,672
Notes Payable [Member] | MVP Houston Saks Garage LLC [Member]
Interest rate		4.25%
Debt Instrument, Maturity Date		Aug. 06, 2025
Debt balance		$ 2,735	2,851
Notes Payable [Member] | Minneapolis City Parking LLC [Member]
Interest rate		4.50%
Debt Instrument, Maturity Date		May 01, 2026
Debt balance		$ 4,059	4,223
Notes Payable [Member] | MVP Bridgeport Fairfield Garage LLC [Member]
Interest rate		4%
Debt Instrument, Maturity Date		Aug. 01, 2026
Debt balance		$ 3,387	3,531
Notes Payable [Member] | West 9th Properties II LLC [Member]
Interest rate		4.50%
Debt Instrument, Maturity Date		Nov. 01, 2026
Debt balance		$ 4,181	4,343
Notes Payable [Member] | MVP Fort Worth Taylor LLC [Member]
Interest rate		4.50%
Debt Instrument, Maturity Date		Dec. 01, 2026
Debt balance		$ 10,408	10,807
Notes Payable [Member] | MVP Detroit Center Garage LLC [Member]
Interest rate		5.52%
Debt Instrument, Maturity Date		Feb. 01, 2027
Debt balance		$ 25,913	26,759
Notes Payable [Member] | Keybank Loan Pool 2027 [Member]
Interest rate	[1]	4.90%
Debt Instrument, Maturity Date	[1]	May 01, 2027
Debt balance	[1]	$ 11,094	11,415
Notes Payable [Member] | Canton Commercial Real Estate Loan Pool 2027 [Member]
Interest rate	[2]	5.03%
Debt Instrument, Maturity Date	[2]	May 06, 2027
Debt balance	[2]	$ 16,250	16,249
Notes Payable [Member] | St Louis Cardinal Lot DST LLC [Member]
Interest rate		5.25%
Debt Instrument, Maturity Date		May 31, 2027
Debt balance		$ 6,000	6,000
Notes Payable [Member] | MVP Preferred Parking LLC [Member]
Interest rate		5.02%
Debt Instrument, Maturity Date		Aug. 01, 2027
Debt balance		$ 10,789	11,028
Notes Payable [Member] | Mabley Place Garage LLC [Member]
Debt Instrument, Maturity Date		Dec. 04, 2027
Debt balance		$ 12,000	7,428
Notes Payable [Member] | KeyBank Loan Pool 2029 [Member]
Interest rate	[3]	7.94%
Debt Instrument, Maturity Date	[3]	Mar. 01, 2029
Debt balance	[3]	$ 5,843	5,500
Notes Payable [Member] | CMBS Loan 2034 [Member]
Interest rate	[4]	7.76%
Debt Instrument, Maturity Date	[4]	Dec. 06, 2034
Debt balance	[4]	$ 75,500	$ 0
[1]2027 KeyBank Loan Pool is secured by the following properties: St. Paul Holiday Garage, LLC, MVP St. Louis Washington, Cleveland Lincoln Garage, LLC, MVP Denver Sherman, LLC, MVP Milwaukee Arena Lot, LLC and MVP Denver 1935 Sherman, LLC.[2]2027 Canton Commercial Real Estate Loan Pool is secured by the following properties: MVP Louisville Broadway Station, LLC, MVP Whitefront Garage, LLC, MVP Houston Preston Lot, LLC, MVP Houston San Jacinto Lot, LLC, St. Louis Broadway, LLC, St. Louis Seventh & Cerre, LLC, MVP Indianapolis Meridian Lot, LLC and St. Louis Cardinal Lot DST, LLC.[3]2029 KeyBank Loan Pool is secured by MVP Memphis Poplar 2013, LLC and MVP St. Louis 2013, LLC.[4]2034 CMBS Loan is secured by the following properties: 1W7 Carpark, LLC, 222 W 7th Holdco, LLC, 222 Sheridan Bricktown Garage, LLC, 322 Streeter Holdco, LLC, Denver 1725 Champa Street Garage, LLC, MVP Hawaii Marks Garage, LLC and MVP Indianapolis City Park Garage, LLC.

Note 7 - Debt - Future Principa

Note 7 - Debt - Future Principal Payments (Details) $ in Thousands	Dec. 31, 2024 USD ($)
2025	$ 5,828
2026	23,496
2027	79,039
2028	586
Thereafter	79,210
Total	$ 188,159

Note 8 - Equity (Details Textua

Note 8 - Equity (Details Textual) - USD ($)						12 Months Ended
	Feb. 28, 2025	Aug. 29, 2023	Aug. 25, 2023	Jun. 15, 2023	Nov. 02, 2021	Dec. 31, 2024	Dec. 31, 2023	Sep. 01, 2024	Aug. 24, 2023	Aug. 25, 2021
Common Stock, Shares Authorized (in shares)						500,000,000	500,000,000		500,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share)						$ 0.0001	$ 0.0001		$ 0.0001
Preferred Stock, Shares Authorized (in shares)									100,000,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)									$ 0.0001
Partners' Capital Account, Units, Converted (in shares)						9,400,000
Payments to Noncontrolling Interests						$ 1,500,000	$ 0
Share Repurchase Program, Authorized, Amount								$ 10,000,000
Stock Repurchased and Retired During Period, Shares (in shares)						419,188
Stock Repurchased and Retired During Period, Value						$ 1,326,000
Subsequent Event [Member]
Stock Repurchased and Retired During Period, Shares (in shares)	55,000
Stock Repurchased and Retired During Period, Value	$ 200,000
Purchase Agreement With Company, Operating Partnership, and HSCP Strategic III, L.P. [Member]
Limited Partnership Purchase Agreement, Consideration Transferred					$ 20,000,000
Color Up to Purchase Common Stock Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)		2,553,192	2,553,192							1,702,128
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)		$ 7.83	$ 7.83							$ 11.75
Class of Warrant or Right, Maximum Aggregate Cash Purchase Price Allowed										$ 20,000,000
Series1 Preferred Stock Converted to Common Stock [Member]
Conversion of Stock, Shares Converted (in shares)						8,000
Conversion of Stock, Shares Issued (in shares)						2,800,000
Series A Preferred Stock Converted to Common Stock [Member]
Conversion of Stock, Shares Converted (in shares)						600
Conversion of Stock, Shares Issued (in shares)						193,000
Series 2 Preferred Stock to be Converted into Common Shares [Member] | Scenario, Plan [Member]
Preferred Stock, Par or Stated Value Per Share (in dollars per share)				$ 0.0001
Preferred Stock, Dividend Rate, Percentage				10%
Preferred Stock, Shares Subscribed but Unissued (in shares)				46,000
Shares Issued, Price Per Share (in dollars per share)				$ 1,000
Preferred Stock, Value, Subscriptions				$ 46,000,000
Merger With FWAC [Member] | Earnout Shares [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares)			1,900,000
Merger With FWAC [Member] | Earn-out Shares for December 31, 2026 Threshhold [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares)			950,000
Business Combination, Contingent Consideration Arrangements, Share Price Threshold (in dollars per share)			$ 13
Merger With FWAC [Member] | Earnout Shares for December 31, 2028 Threshold [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares)			950,000
Business Combination, Contingent Consideration Arrangements, Share Price Threshold (in dollars per share)			$ 16
Series 1 Convertible Redeemable Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)									97,000
Preferred Stock, Dividend Rate, Percentage						5.50%
Stock Redeemed or Called During Period, Shares (in shares)						10,600	0
Series 1 Convertible Redeemable Preferred Stock [Member] | Prior Dividends [Member]
Preferred Stock, Dividends Per Share, Declared (in dollars per share)						$ 299.84
Series 1 Convertible Redeemable Preferred Stock [Member] | September 2024 Dividend [Member]
Preferred Stock, Dividends Per Share, Declared (in dollars per share)						$ 4.583
Series A Convertible Redeemable Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)									50,000
Preferred Stock, Dividend Rate, Percentage						5.75%
Stock Redeemed or Called During Period, Shares (in shares)						300	0
Series A Convertible Redeemable Preferred Stock [Member] | Prior Dividends [Member]
Preferred Stock, Dividends Per Share, Declared (in dollars per share)						$ 319.81
Series A Convertible Redeemable Preferred Stock [Member] | September 2024 Dividend [Member]
Preferred Stock, Dividends Per Share, Declared (in dollars per share)						$ 4.791
Series 2 Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)						60,000	60,000		60,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)						$ 0.0001	$ 0.0001
Preferred Stock, Dividends Per Share, Declared (in dollars per share)							$ 0.1
Shares Issued, Price Per Share (in dollars per share)			$ 1,000
Preferred Stock, Convertible, Conversion Price (in dollars per share)				$ 3.67
Preferred Stock, Shares Outstanding (in shares)			46,000	46,000
Preferred Stock, Convertible, Shares Issuable, Including Accrued Dividends (in shares)			13,787,464	13,787,462
Preferred Stock, Convertible, Shares Issuable (in shares)				12,534,058
Preferred Stock, Convertible, Shares Issuable, Accrued Dividends (in shares)				1,253,404
Dividends Payable			$ 4,600,000
Series 1 Preferred Stock Reclassified As Accrued Preferred Distributions and Redemptions [Member]
Stock Redeemed or Called During Period, Shares (in shares)						500
Preferred Stock, Redemption Amount						$ 500,000
Series1 Preferred Stock Converted to Common Stock [Member]
Conversion of Stock, Shares Converted (in shares)							3,100
Conversion of Stock, Shares Issued (in shares)							1
Series A Preferred Stock Converted to Common Stock [Member]
Conversion of Stock, Shares Converted (in shares)							50
Conversion of Stock, Shares Issued (in shares)							14,000
OP Units [Member]
Partners' Capital Account, Units, Contributed (in shares)		156,138
Partners' Capital Account, Units, Converted (in shares)		638,298
Share Price (in dollars per share)		$ 10.37
Equity Units, Outstanding, Total (in shares)						44.9
OP Units [Member] | Purchase Agreement With Company, Operating Partnership, and HSCP Strategic III, L.P. [Member]
Limited Partners' Capital Account, Units Issued (in shares)					1,702,128
Limited Partners, Option to Purchase Units (in shares)					425,532
Limited Partner, Option to Purchase Units, Price Per Share (in dollars per share)					$ 11.75
Class A Units [Member] | Purchase Agreement With Company, Operating Partnership, and HSCP Strategic III, L.P. [Member]
Limited Partners' Capital Account, Units Issued (in shares)			638,298		425,532
Limited Partner, Option to Purchase Units, Price Per Share (in dollars per share)			$ 7.83
Series A Preferred Stock Reclassified As Accrued Preferred Distributions and Redemptions [Member]
Stock Redeemed or Called During Period, Shares (in shares)						500
Preferred Stock, Redemption Amount						$ 500,000

Note 9 - Stock-based Compensa_3

Note 9 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended				12 Months Ended
	Feb. 28, 2023	May 31, 2024	Jan. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement, Expense						$ 5.7	$ 8.6
LTIP Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value (in dollars per share)	$ 8.99			$ 8.22		$ 6.59	$ 8.22	$ 8.44
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares)				2,825,122		3,630,629	2,825,122	2,673,041
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)						864,616	59,681
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)						$ 3.63	$ 7.46
LTIP Units [Member] | Mr. Chavez [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted (in shares)	0.2
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value (in dollars per share)			$ 3.84
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)	3 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)	35,600
LTIP Units [Member] | Mr. Chavez [Member] | Salary for 2021 and 2023 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted (in shares)			300,000
LTIP Units [Member] | Mr. Chavez [Member] | Salary for 2024 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted (in shares)			200,000
LTIP Units [Member] | Executives [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted (in shares)			400,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value (in dollars per share)			$ 3.84
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)			3 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Forfeitures (in shares)					100,000
Share-Based Payment Arrangement, Expense							$ 1.4
LTIP Units [Member] | Executives [Member] | Monte Carlo Method [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted (in shares)			100,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value (in dollars per share)			$ 6.11
LTIP Units [Member] | Director [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted (in shares)							39,100
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)						3 years
LTIP Units [Member] | Ms. Hogue [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted (in shares)	0.2
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)	3 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)	35,600
Restricted Stock Units (RSUs) [Member] | Share-Based Payment Arrangement, Tranche One [Member] | Founder's Award [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value (in dollars per share)		$ 0.6
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares)		100,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Modified in Period		$ 2.3
Share-Based Payment Arrangement, Plan Modification, Incremental Cost		$ 0.7
Restricted Stock Units (RSUs) [Member] | Executives [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted (in shares)		56,000	200,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value (in dollars per share)		$ 3.6
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)		3 years
Restricted Stock Units (RSUs) [Member] | Executives [Member] | Monte Carlo Method [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted (in shares)			100,000
Restricted Stock Units (RSUs) [Member] | Non-Executives [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted (in shares)				100,000
Restricted Stock Units (RSUs) [Member] | Director [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted (in shares)			0.2
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)						$ 3.84
Performance Units [Member] | Vesting Subject to Market Condition [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount						$ 3
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)						2 years 1 month 6 days

Note 9 - Stock-based Compensa_4

Note 9 - Stock-based Compensation - Share-based Activity (Details) - LTIP Units [Member] - $ / shares		12 Months Ended
	Feb. 28, 2023	Dec. 31, 2024	Dec. 31, 2023
Nonvested, number (in shares)		2,825,122	2,673,041
Balance, weighted average grant fv per share (in dollars per share)		$ 8.22	$ 8.44
Granted, number (in shares)		1,670,123	347,082
Granted, weighted average grant fv per share (in dollars per share)		$ 3.63	$ 7.46
Vested, number (in shares)		(864,616)	(59,681)
Vested, weighted average grant fv per share (in dollars per share)		$ 6.19	$ 9.4
Forfeited, number (in shares)		0	(135,320)
Forfeited, weighted average grant fv per share (in dollars per share)		$ 0	$ 10
Nonvested, number (in shares)		3,630,629	2,825,122
Balance, weighted average grant fv per share (in dollars per share)	$ 8.99	$ 6.59	$ 8.22

Note 10 - Employee Benefit Pl_2

Note 10 - Employee Benefit Plan (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	100%
Employee Benefits and Share-Based Compensation	$ 140,000	$ 109,000
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	6%

Note 11 - Earnings Per Share (D

Note 11 - Earnings Per Share (Details Textual) - shares shares in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	3.6	2.8

Note 11 - Earnings Per Share -

Note 11 - Earnings Per Share - Schedule of Earnings Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Net loss attributable to MIC	$ (7,539)	$ (32,475)
Net loss attributable to participating securities	$ 0	$ 0
Basic and dilutive weighted average shares of common stock outstanding (in shares)	32,007,271	13,244,388
Basic and dilutive (in dollars per share)	$ (0.24)	$ (2.45)

Note 12 - Leases (Details Textu

Note 12 - Leases (Details Textual)	12 Months Ended
	Dec. 31, 2024 USD ($)
Operating Lease, Expense	$ 0
Lessor, Operating Lease, Term of Contract (Year)	14 years
Base Rent, Yearly	$ 40,457
Percentage of Annual Increase in Base Rent	3.50%
Incremental Borrowing Rate	8.42%
Operating Lease, Right-of-Use Asset	$ 300,000
Operating Lease, Cost	$ 40,000
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Land and Land Improvements
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Accounts Payable and Accrued Liabilities
Operating Lease, Liability	$ 319,000

Note 12 - Leases - Components o

Note 12 - Leases - Components of Lease Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Fixed contractual payments	$ 5,782	$ 7,103
Variable lease payments	3,332	23,100
Straight-line rental income	$ 46	$ 70

Note 12 - Leases - Future Fixed

Note 12 - Leases - Future Fixed Contractual Lease Payments to be Received (Details) $ in Thousands	Dec. 31, 2024 USD ($)
2025	$ 5,193
2026	4,407
2027	2,350
2028	1,195
2029	932
Thereafter	$ 1,184

Note 12 - Leases - Future Lease

Note 12 - Leases - Future Lease Payments (Details) $ in Thousands	Dec. 31, 2024 USD ($)
2025	$ 40
2026	40
2027	40
2028	40
2029	40
Thereafter	326
Total lease payments	526
Less amount representing interest	(207)
Total	$ 319

Note 13 - Variable Interest E_2

Note 13 - Variable Interest Entities (Details Textual) $ in Thousands, ft² in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) ft² a	Dec. 31, 2023 USD ($)
Area of Real Estate Property (Square Foot) | ft²	5.2
Number of Parking Spaces	15,100
Assets	$ 415,062	$ 423,237
Liabilities	$ 225,791	220,282
Cardinal Lot [Member]
Area of Real Estate Property (Square Foot) | a	2.56
Number of Parking Spaces	376
MVP St. Louise [Member]
Assets	$ 11,900	13,000
Liabilities	$ 6,000	$ 6,600
MVP St. Louise [Member]
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	51%

Note 14 - Income Taxes (Details

Note 14 - Income Taxes (Details Textual) - Domestic Tax Jurisdiction [Member] - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Operating Loss Carryforwards	$ 95.8	$ 73.8
Operating Loss Carryforwards, Not Subject to Expiration	87.2
Operating Loss Carryforwards, Subject to Expiration	$ 8.6

Note 14 - Income Taxes - Provis

Note 14 - Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Federal	$ 0	$ 0
State	57	41
Total Current	57	41
Federal	0	0
State	0	0
Total Deferred	0	0
Total	$ 57	$ 41

Note 14 - Income Taxes - Reconc

Note 14 - Income Taxes - Reconciliation of Effective Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Tax at U.S. statutory rate	21%	21%
State taxes, net of federal effect	1.62%	2.13%
Non-Deductible Expenses	0.59%	(9.85%)
Change in Valuation Allowance	(23.21%)	(13.40%)
Effective income tax rate	0%	0%

Note 14 - Income Taxes - Deferr

Note 14 - Income Taxes - Deferred Tax Assets and Deferred Tax Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
NOL Carryforward	$ 19,958	$ 17,522
Intangible Assets	3,766	4,171
Investment in Operating Partnership	9,399	9,631
Gross deferred tax assets	33,123	31,324
Less valuation allowance	(33,123)	(31,324)
Total deferred tax assets	0	0
Total net deferred taxes	$ 0	$ 0

Note 15 - Fair Value (Details T

Note 15 - Fair Value (Details Textual) $ / shares in Units, $ in Thousands		12 Months Ended
	Aug. 25, 2023 $ / shares shares	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability		$ (844)	$ (4,065)
Impairment of Real Estate		157	8,982
Merger With FWAC [Member] | Earnout Shares [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares	1,900,000
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability		800	4,100
Merger With FWAC [Member] | Earnout Shares [Member] | Measurement Input, Price Volatility [Member] | Minimum [Member]
Business Combination, Contingent Consideration, Liability, Measurement Input	35
Merger With FWAC [Member] | Earnout Shares [Member] | Measurement Input, Price Volatility [Member] | Maximum [Member]
Business Combination, Contingent Consideration, Liability, Measurement Input	40
Merger With FWAC [Member] | Earn-out Shares for December 31, 2026 Threshhold [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares	950,000
Business Combination, Contingent Consideration Arrangements, Share Price Threshold (in dollars per share) | $ / shares	$ 13
Merger With FWAC [Member] | Earnout Shares for December 31, 2028 Threshold [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares	950,000
Business Combination, Contingent Consideration Arrangements, Share Price Threshold (in dollars per share) | $ / shares	$ 16
Fair Value, Inputs, Level 2 [Member]
Debt Instrument, Fair Value Disclosure		$ 186,700	$ 182,900

Note 15 - Fair Value - Fair Val

Note 15 - Fair Value - Fair Value Measurements (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Inputs, Level 1 [Member]
Business Combination, Contingent Consideration, Liability	$ 0	$ 0
Interest rate cap	0	0
Impaired real estate assets	0	0
Fair Value, Inputs, Level 2 [Member]
Business Combination, Contingent Consideration, Liability	0	0
Interest rate cap	0	54
Impaired real estate assets	0	0
Fair Value, Inputs, Level 3 [Member]
Business Combination, Contingent Consideration, Liability	935	1,779
Interest rate cap	0	0
Impaired real estate assets	$ 450	$ 50,536

Note 15 - Fair Value - Fair V_2

Note 15 - Fair Value - Fair Value Measurements (Details) (Parentheticals)	Dec. 31, 2023
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Liabilities

Note 15 - Fair Value - Changes

Note 15 - Fair Value - Changes in Fair Value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Balance	$ (1,779)	$ 0
Impact of the Merger (initial valuation)		(5,844)
Change in fair value recognized in earnings	844	4,065
Balance	$ (935)	$ (1,779)

Note 15 - Fair Value - Change_2

Note 15 - Fair Value - Changes in Fair Value (Details) (Parentheticals)	12 Months Ended
	Dec. 31, 2023
Fair Value, Net Derivative Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability

Note 16 - Commitments and Con_2

Note 16 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions	1 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 18, 2023	Jan. 31, 2023
Complaint Against Legacy MIC Seeking Advancement of Indemnification Expenses [Member] | Pending Litigation [Member]
Loss Contingency, Estimate of Possible Loss			$ 1.2
Alleged Commission for Proposed Sale of Fort Worth Taylor Parking Facility [Member] | Pending Litigation [Member]
Loss Contingency, Estimate of Possible Loss				$ 0.7
Alleged Commission for Proposed Sale of Fort Worth Taylor Parking Facility [Member] | Settled Litigation [Member] | Other Income [Member]
Gain (Loss) from Litigation Settlement	$ 0.3
Arbitration With One Vendor Regarding Disputes Over Amounts Payable [Member] | Pending Litigation [Member]
Loss Contingency, Estimate of Possible Loss		$ 1.8

Note 17 - Related Party Trans_2

Note 17 - Related Party Transactions and Arrangements (Details Textual) - USD ($)		12 Months Ended
	Aug. 25, 2021	Dec. 31, 2024	Sep. 30, 2024	Dec. 31, 2023
Accounts Receivable, after Allowance for Credit Loss		$ 3,516,000		$ 2,269,000
Revolving Credit Facility [Member] | Harvest Small Cap Partners, L.P. and Harvest Small Cap Partners Master, Ltd. [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 40,400,000
Park Place Parking [Member]
Accounts Receivable, after Allowance for Credit Loss			$ 200,000	100,000
Color Up and Certain Member Entities of Color Up [Member]
Accounts Payable and Accrued Liabilities				$ 500,000
Color Up and Certain Member Entities of Color Up [Member] | Tax Return Preparation Services [Member] | General and Administrative Expense [Member]
Related Party Transaction, Amounts of Transaction		100,000
Color Up and Certain Member Entities of Color Up [Member] | Tax Return Preparation Services [Member] | Other Nonoperating Income (Expense) [Member]
Related Party Transaction, Amounts of Transaction		$ 50,000
Affiliate of Bombe Asset Management LLC [Member]
License Fee, Monthly	$ 5,000

Note 19 - Revision of Previou_3

Note 19 - Revision of Previously Issued Financial Information - Revisions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Additional paid-in capital	$ 306,718	$ 262,184
Non-controlling interest	19,288	71,741
Allocation of equity to non-controlling interest	36	0
Balance	169,983	131,214
Non-controlling interest	189,271	202,955	$ 187,008
Noncontrolling Interest [Member]
Allocation of equity to non-controlling interest	53,279	21,827
Non-controlling interest	19,288	71,741	99,681
Additional Paid-in Capital [Member]
Allocation of equity to non-controlling interest	(53,243)	(21,827)
Balance		262,184
Non-controlling interest	$ 306,718	262,184	$ 193,176
Previously Reported [Member]
Additional paid-in capital		240,357
Non-controlling interest		93,568
Previously Reported [Member] | Noncontrolling Interest [Member]
Allocation of equity to non-controlling interest		0
Non-controlling interest		93,568
Previously Reported [Member] | Additional Paid-in Capital [Member]
Balance		240,357
Revision of Prior Period, Error Correction, Adjustment [Member]
Additional paid-in capital		21,827
Non-controlling interest		(21,827)
Revision of Prior Period, Error Correction, Adjustment [Member] | Noncontrolling Interest [Member]
Allocation of equity to non-controlling interest		21,827
Non-controlling interest		(21,827)
Revision of Prior Period, Error Correction, Adjustment [Member] | Additional Paid-in Capital [Member]
Balance		$ 21,827

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation (Details Textual) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Federal Income Tax Basis	$ 419,600,000
Real Estate Investments, Intangible Assets	10,063,000	$ 10,187,000
Construction in Progress, Gross	$ 13,000	$ 273,000
Building [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation (Year)	39 years
Building Improvements [Member] | Minimum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation (Year)	1 year
Building Improvements [Member] | Maximum [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation (Year)	20 years

Schedule III - Real Estate an_4

Schedule III - Real Estate and Accumulated Depreciation - Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands		Dec. 31, 2024		Dec. 31, 2023	Dec. 31, 2022
Encumbrances		$ 112,659
Initial Cost of Land		165,678
Initial Cost of Building and Improvements		262,832
Cost Capitalized Subsequent to Acquisition, Improvements		15,884
Land, Amount	[1]	157,922
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	259,750
Investment in Real Estate, Gross	[2]	417,672	[1]	$ 422,257	$ 439,526
Investment in Real Estate, Accumulated Depreciation		34,401	[3]	$ 26,848	$ 28,763
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Cost		0
West 9th Street [Member]
Encumbrances		4,181
Initial Cost of Land		5,675
Initial Cost of Building and Improvements		0
Cost Capitalized Subsequent to Acquisition, Improvements		302
Land, Amount	[1]	5,918
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	59
Investment in Real Estate, Gross	[1]	5,977
Investment in Real Estate, Accumulated Depreciation	[3]	$ 99
Life Used for Depreciation (Year)		15 years
Crown Colony [Member]
Encumbrances	[4]	$ 0
Initial Cost of Land	[4]	3,030
Initial Cost of Building and Improvements	[4]	0
Cost Capitalized Subsequent to Acquisition, Improvements	[4]	19
Land, Amount	[1],[4]	2,954
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1],[4]	0
Investment in Real Estate, Gross	[1],[4]	2,954
Investment in Real Estate, Accumulated Depreciation	[3],[4]	$ 10
Life Used for Depreciation (Year)	[4]	15 years
St Louis Washington [Member]
Encumbrances		$ 1,206
Initial Cost of Land		3,000
Initial Cost of Building and Improvements		0
Cost Capitalized Subsequent to Acquisition, Improvements		7
Land, Amount	[1]	1,637
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	0
Investment in Real Estate, Gross	[1]	1,637
Investment in Real Estate, Accumulated Depreciation	[3]	$ 3
Life Used for Depreciation (Year)		15 years
St Paul Holiday Garage [Member]
Encumbrances		$ 3,609
Initial Cost of Land		1,673
Initial Cost of Building and Improvements		6,527
Cost Capitalized Subsequent to Acquisition, Improvements		707
Land, Amount	[1]	1,673
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	7,234
Investment in Real Estate, Gross	[1]	8,907
Investment in Real Estate, Accumulated Depreciation	[3]	1,556
Louisville Station [Member]
Encumbrances		1,682
Initial Cost of Land		3,050
Initial Cost of Building and Improvements		0
Cost Capitalized Subsequent to Acquisition, Improvements		57
Land, Amount	[1]	3,007
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	0
Investment in Real Estate, Gross	[1]	3,007
Investment in Real Estate, Accumulated Depreciation	[3]	$ 29
Life Used for Depreciation (Year)		15 years
Whitefront Garage [Member]
Encumbrances		$ 6,454
Initial Cost of Land		3,116
Initial Cost of Building and Improvements		8,380
Cost Capitalized Subsequent to Acquisition, Improvements		197
Land, Amount	[1]	3,116
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	8,576
Investment in Real Estate, Gross	[1]	11,692
Investment in Real Estate, Accumulated Depreciation	[3]	1,861
Cleveland Lincoln Garage [Member]
Encumbrances		3,493
Initial Cost of Land		2,195
Initial Cost of Building and Improvements		5,122
Cost Capitalized Subsequent to Acquisition, Improvements		5,228
Land, Amount	[1]	1,378
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	8,442
Investment in Real Estate, Gross	[1]	9,820
Investment in Real Estate, Accumulated Depreciation	[3]	2,634
Houston Preston [Member]
Encumbrances		1,627
Initial Cost of Land		2,800
Initial Cost of Building and Improvements		0
Cost Capitalized Subsequent to Acquisition, Improvements		20
Land, Amount	[1]	2,820
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	0
Investment in Real Estate, Gross	[1]	2,820
Investment in Real Estate, Accumulated Depreciation	[3]	$ 10
Life Used for Depreciation (Year)		15 years
Houston San Jacinto [Member]
Encumbrances		$ 1,820
Initial Cost of Land		3,200
Initial Cost of Building and Improvements		0
Cost Capitalized Subsequent to Acquisition, Improvements		50
Land, Amount	[1]	3,250
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	0
Investment in Real Estate, Gross	[1]	3,250
Investment in Real Estate, Accumulated Depreciation	[3]	$ 25
Life Used for Depreciation (Year)		15 years
M V P Detroit Center Garage [Member]
Encumbrances		$ 25,913
Initial Cost of Land		7,000
Initial Cost of Building and Improvements		48,000
Cost Capitalized Subsequent to Acquisition, Improvements		1,091
Land, Amount	[1]	6,497
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	37,711
Investment in Real Estate, Gross	[1]	44,208
Investment in Real Estate, Accumulated Depreciation	[3]	1,501
St Louis Broadway [Member]
Encumbrances		1,671
Initial Cost of Land		2,400
Initial Cost of Building and Improvements		0
Cost Capitalized Subsequent to Acquisition, Improvements		0
Land, Amount	[1]	2,400
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	0
Investment in Real Estate, Gross	[1]	2,400
Investment in Real Estate, Accumulated Depreciation	[3]	0
St Louis Seventh Cerre [Member]
Encumbrances		2,057
Initial Cost of Land		3,300
Initial Cost of Building and Improvements		0
Cost Capitalized Subsequent to Acquisition, Improvements		0
Land, Amount	[1]	3,300
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	0
Investment in Real Estate, Gross	[1]	3,300
Investment in Real Estate, Accumulated Depreciation	[3]	0
M V P Preferred Parking [Member]
Encumbrances		10,789
Initial Cost of Land		15,800
Initial Cost of Building and Improvements		4,700
Cost Capitalized Subsequent to Acquisition, Improvements		749
Land, Amount	[1]	15,230
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	5,279
Investment in Real Estate, Gross	[1]	20,509
Investment in Real Estate, Accumulated Depreciation	[3]	1,184
M V P Raider Park Garage [Member]
Initial Cost of Land		2,005
Initial Cost of Building and Improvements		9,057
Cost Capitalized Subsequent to Acquisition, Improvements		3,770
Land, Amount	[1]	2,005
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	12,827
Investment in Real Estate, Gross	[1]	14,832
Investment in Real Estate, Accumulated Depreciation	[3]	2,662
M V P P F Memphis Poplar2013 [Member]
Encumbrances		1,783
Initial Cost of Land		3,658
Initial Cost of Building and Improvements		0
Cost Capitalized Subsequent to Acquisition, Improvements		24
Land, Amount	[1]	3,670
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	12
Investment in Real Estate, Gross	[1]	3,682
Investment in Real Estate, Accumulated Depreciation	[3]	$ 26
Life Used for Depreciation (Year)		15 years
M V P P F St Louis2013 [Member]
Encumbrances		$ 4,061
Initial Cost of Land		5,041
Initial Cost of Building and Improvements		0
Cost Capitalized Subsequent to Acquisition, Improvements		29
Land, Amount	[1]	5,041
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	29
Investment in Real Estate, Gross	[1]	5,070
Investment in Real Estate, Accumulated Depreciation	[3]	$ 51
Life Used for Depreciation (Year)		15 years
Mabley Place Garage [Member]
Encumbrances		$ 12,000
Initial Cost of Land		1,585
Initial Cost of Building and Improvements		19,018
Cost Capitalized Subsequent to Acquisition, Improvements		1,037
Land, Amount	[1]	1,360
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	17,280
Investment in Real Estate, Gross	[1]	18,640
Investment in Real Estate, Accumulated Depreciation	[3]	3,301
M V P Denver Sherman [Member]
Encumbrances		249
Initial Cost of Land		705
Initial Cost of Building and Improvements		0
Cost Capitalized Subsequent to Acquisition, Improvements		0
Land, Amount	[1]	705
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	0
Investment in Real Estate, Gross	[1]	705
Investment in Real Estate, Accumulated Depreciation	[3]	0
M V P Fort Worth Taylor [Member]
Encumbrances		10,408
Initial Cost of Land		2,845
Initial Cost of Building and Improvements		24,405
Cost Capitalized Subsequent to Acquisition, Improvements		11
Land, Amount	[1]	2,845
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	24,416
Investment in Real Estate, Gross	[1]	27,261
Investment in Real Estate, Accumulated Depreciation	[3]	4,426
MVP Milwaukee Old World [Member]
Encumbrances		0
Initial Cost of Land		2,003
Initial Cost of Building and Improvements		0
Cost Capitalized Subsequent to Acquisition, Improvements		8
Land, Amount	[1]	2,003
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	8
Investment in Real Estate, Gross	[1]	2,011
Investment in Real Estate, Accumulated Depreciation	[3]	$ 35
Life Used for Depreciation (Year)		15 years
M V P Houston Saks Garage [Member]
Encumbrances		$ 2,734
Initial Cost of Land		4,931
Initial Cost of Building and Improvements		5,221
Cost Capitalized Subsequent to Acquisition, Improvements		152
Land, Amount	[1]	3,713
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	4,091
Investment in Real Estate, Gross	[1]	7,804
Investment in Real Estate, Accumulated Depreciation	[3]	819
M V P Milwaukee Wells [Member]
Initial Cost of Land		4,994
Initial Cost of Building and Improvements		0
Cost Capitalized Subsequent to Acquisition, Improvements		0
Land, Amount	[1]	4,374
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	0
Investment in Real Estate, Gross	[1]	4,374
Investment in Real Estate, Accumulated Depreciation	[3]	$ 116
Life Used for Depreciation (Year)		15 years
M V P Indianapolis City Park [Member]
Initial Cost of Land		$ 2,056
Initial Cost of Building and Improvements		8,557
Cost Capitalized Subsequent to Acquisition, Improvements		114
Land, Amount	[1]	2,056
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	8,672
Investment in Real Estate, Gross	[1]	10,728
Investment in Real Estate, Accumulated Depreciation	[3]	1,603
M V P Minneapolis Venture [Member]
Encumbrances		0
Initial Cost of Land		4,013
Initial Cost of Building and Improvements		0
Cost Capitalized Subsequent to Acquisition, Improvements		135
Land, Amount	[1]	4,013
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	134
Investment in Real Estate, Gross	[1]	4,147
Investment in Real Estate, Accumulated Depreciation	[3]	17
M V P Indianapolis Meridian Lot [Member]
Encumbrances		938
Initial Cost of Land		1,573
Initial Cost of Building and Improvements		0
Cost Capitalized Subsequent to Acquisition, Improvements		0
Land, Amount	[1]	1,523
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	0
Investment in Real Estate, Gross	[1]	1,523
Investment in Real Estate, Accumulated Depreciation	[3]	$ 10
Life Used for Depreciation (Year)		15 years
MVP Milwaukee Clybourn [Member]
Encumbrances		$ 0
Initial Cost of Land		257
Initial Cost of Building and Improvements		0
Cost Capitalized Subsequent to Acquisition, Improvements		0
Land, Amount	[1]	257
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	0
Investment in Real Estate, Gross	[1]	257
Investment in Real Estate, Accumulated Depreciation	[3]	$ 5
Life Used for Depreciation (Year)		15 years
M V P Milwaukee Arena [Member]
Encumbrances		$ 1,871
Initial Cost of Land		4,631
Initial Cost of Building and Improvements		0
Cost Capitalized Subsequent to Acquisition, Improvements		52
Land, Amount	[1]	4,641
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	42
Investment in Real Estate, Gross	[1]	4,683
Investment in Real Estate, Accumulated Depreciation	[3]	7
M V P Denver1935 Sherman [Member]
Encumbrances		667
Initial Cost of Land		2,533
Initial Cost of Building and Improvements		0
Cost Capitalized Subsequent to Acquisition, Improvements		0
Land, Amount	[1]	2,533
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	0
Investment in Real Estate, Gross	[1]	2,533
Investment in Real Estate, Accumulated Depreciation	[3]	0
M V P Bridgeport Fairfield Garage [Member]
Encumbrances		3,387
Initial Cost of Land		498
Initial Cost of Building and Improvements		7,555
Cost Capitalized Subsequent to Acquisition, Improvements		51
Land, Amount	[1]	498
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	7,606
Investment in Real Estate, Gross	[1]	8,104
Investment in Real Estate, Accumulated Depreciation	[3]	1,439
Minneapolis City Parking [Member]
Encumbrances		4,059
Initial Cost of Land		9,633
Initial Cost of Building and Improvements		0
Cost Capitalized Subsequent to Acquisition, Improvements		0
Land, Amount	[1]	7,513
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	0
Investment in Real Estate, Gross	[1]	7,513
Investment in Real Estate, Accumulated Depreciation	[3]	$ 139
Life Used for Depreciation (Year)		15 years
M V P New Orleans Rampart [Member]
Initial Cost of Land		$ 8,105
Initial Cost of Building and Improvements		0
Cost Capitalized Subsequent to Acquisition, Improvements		332
Land, Amount	[1]	8,167
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	0
Investment in Real Estate, Gross	[1]	8,167
Investment in Real Estate, Accumulated Depreciation	[3]	14
M V P Hawaii Marks [Member]
Initial Cost of Land		9,119
Initial Cost of Building and Improvements		11,715
Cost Capitalized Subsequent to Acquisition, Improvements		461
Land, Amount	[1]	8,571
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	11,475
Investment in Real Estate, Gross	[1]	20,046
Investment in Real Estate, Accumulated Depreciation	[3]	2,025
One W7 Carpark [Member]
Initial Cost of Land		2,995
Initial Cost of Building and Improvements		28,762
Cost Capitalized Subsequent to Acquisition, Improvements		147
Land, Amount	[1]	2,995
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	28,909
Investment in Real Estate, Gross	[1]	31,904
Investment in Real Estate, Accumulated Depreciation	[3]	2,479
Two Two Two W7 [Member]
Initial Cost of Land		4,391
Initial Cost of Building and Improvements		23,879
Cost Capitalized Subsequent to Acquisition, Improvements		99
Land, Amount	[1]	4,391
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	23,978
Investment in Real Estate, Gross	[1]	28,369
Investment in Real Estate, Accumulated Depreciation	[3]	$ 2,064
Life Used for Depreciation (Year)		39 years
Three Two Two Streeter [Member]
Initial Cost of Land		$ 11,387
Initial Cost of Building and Improvements		27,035
Cost Capitalized Subsequent to Acquisition, Improvements		581
Land, Amount	[1]	11,387
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	27,616
Investment in Real Estate, Gross	[1]	39,003
Investment in Real Estate, Accumulated Depreciation	[3]	$ 2,395
Life Used for Depreciation (Year)		39 years
Second Street [Member]
Initial Cost of Land		$ 93
Initial Cost of Building and Improvements		0
Cost Capitalized Subsequent to Acquisition, Improvements		0
Land, Amount	[1]	93
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	0
Investment in Real Estate, Gross	[1]	93
Investment in Real Estate, Accumulated Depreciation	[3]	0
Denver1725 Champa Street Garage [Member]
Initial Cost of Land		7,414
Initial Cost of Building and Improvements		8,860
Cost Capitalized Subsequent to Acquisition, Improvements		422
Land, Amount	[1]	7,414
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	9,283
Investment in Real Estate, Gross	[1]	16,697
Investment in Real Estate, Accumulated Depreciation	[3]	$ 784
Life Used for Depreciation (Year)		39 years
222 Sheraton Bricktown Garage [Member]
Initial Cost of Land		$ 1,314
Initial Cost of Building and Improvements		16,020
Cost Capitalized Subsequent to Acquisition, Improvements		32
Land, Amount	[1]	1,314
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	16,052
Investment in Real Estate, Gross	[1]	17,366
Investment in Real Estate, Accumulated Depreciation	[3]	$ 1,068
Life Used for Depreciation (Year)		39 years
M V P St Louis Cardinal Lot D S T [Member]
Encumbrances		$ 6,000
Initial Cost of Land		11,660
Initial Cost of Building and Improvements		19
Cost Capitalized Subsequent to Acquisition, Improvements		0
Land, Amount	[1]	11,660
Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount	[1]	19
Investment in Real Estate, Gross	[1]	11,679
Investment in Real Estate, Accumulated Depreciation	[3]	$ 4
[1]The aggregate gross cost of property included above for federal income tax purposes was approximately $419.6 million as of December 31, 2024.[2]This amount does not include intangible assets and construction in progress totaling approximately $10.2 million and $0.3 million, respectively, as of December 31, 2023 and approximately $10.1 million and $1.2 million as of December 31, 2022, respectively.[3]The initial costs of buildings are depreciated over 39 years using a straight-line method of accounting; improvements capitalized subsequent to acquisition are depreciated over the shorter of the lease term or useful life, generally ranging from one to 20 years.[4]These properties are held by West 9th St. Properties II, LLC.

Schedule III - Real Estate an_5

Schedule III - Real Estate and Accumulated Depreciation - Changes in Real Estate Assets (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2024		Dec. 31, 2023
Balance at beginning of period	[1]	$ 422,257		$ 439,526
Acquisitions		0		0
Improvements		866		1,988
Dispositions		(5,290)		(696)
Impairments		(161)		(18,561)
Balance at close of period	[1]	$ 417,672	[2]	$ 422,257
[1]This amount does not include intangible assets and construction in progress totaling approximately $10.2 million and $0.3 million, respectively, as of December 31, 2023 and approximately $10.1 million and $1.2 million as of December 31, 2022, respectively.[2]The aggregate gross cost of property included above for federal income tax purposes was approximately $419.6 million as of December 31, 2024.

Schedule III - Real Estate an_6

Schedule III - Real Estate and Accumulated Depreciation - Changes in Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024		Dec. 31, 2023
Balance at beginning of period	$ 26,848		$ 28,763
Impairment	(4)		(9,605)
Depreciation of real estate	7,557		7,690
Balance at close of period	$ 34,401	[1]	$ 26,848
[1]The initial costs of buildings are depreciated over 39 years using a straight-line method of accounting; improvements capitalized subsequent to acquisition are depreciated over the shorter of the lease term or useful life, generally ranging from one to 20 years.