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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
OPERATING ACTIVITIES    
Net income $ 4,545,000 $ 2,007,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales, net (4,472,000) (2,662,000)
Impairment charges 1,064,000 0
Straight-line rents (288,000) (1,208,000)
Credit adjustments on operating lease receivables 72,000 (357,000)
Depreciation and amortization 8,680,000 10,918,000
Above (below) market lease amortization, net (226,000) (336,000)
Amortization of deferred financing costs 873,000 386,000
Changes in operating assets and liabilities, net of effects of dispositions:    
Receivables, net 1,063,000 1,343,000
Deferred costs and other assets, net (1,679,000) (2,243,000)
Accounts payable, accrued expenses, and other liabilities (169,000) 400,000
Net cash provided by operating activities 9,463,000 8,248,000
INVESTING ACTIVITIES    
Expenditures for real estate improvements (11,598,000) (6,456,000)
Net proceeds from sales of real estate 37,194,000 2,759,000
Net cash provided by (used in) investing activities 25,596,000 (3,697,000)
FINANCING ACTIVITIES    
Advances under Revolving Credit Agreement 5,223,000 0
Repayments under Revolving Credit Agreement (5,223,000) 0
Term loan proceeds 2,500,000 9,060,000
Term loan principal payments (462,000) 0
Payments for deferred financing costs (444,000) (414,000)
Preferred stock dividends (10,441,000) (10,752,000)
Preferred stock repurchases (11,496,000) 0
Net cash used in financing activities (20,343,000) (2,106,000)
Net increase in cash, cash equivalents and restricted cash 14,716,000 2,445,000
Cash, cash equivalents and restricted cash at beginning of year 15,908,000 13,463,000
Cash, cash equivalents and restricted cash at end of year 30,624,000 15,908,000
Reconciliation to consolidated balance sheets:    
Cash and cash equivalents 23,092,000 6,518,000
Restricted cash 7,532,000 9,390,000
Cash, cash equivalents and restricted cash $ 30,624,000 $ 15,908,000

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