v3.25.2
Consolidated Balance Sheets (unaudited) - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Investment in real estate    
Land $ 23,998,591 $ 23,288,811
Building and site improvements 70,929,505 67,647,250
Acquired tenant improvements 2,550,388 2,384,076
Acquired lease intangible assets 11,140,166 10,504,740
Less: accumulated depreciation and amortization (14,119,815) (12,462,091)
Net real estate investments 94,498,835 91,362,786
Cash and cash equivalents 356,130 612,939
Restricted cash 34,500 34,500
Deferred rent asset 361,207 331,837
Prepaid expenses 400,474 140,528
Accounts receivable 37,175 48,118
Escrow deposit and other assets 588,290 1,233,123
Held for sale assets 2,657,414 6,732,001
Right of use asset, net 6,028,253 6,067,958
Total Assets 104,962,278 106,563,790
Liabilities    
Accounts payable 416,097 171,262
Accrued expenses 1,347,395 1,127,896
Accrued expense - related party 877,970 683,347
Acquired lease intangible liabilities, net 1,485,894 1,036,274
Insurance payable 306,409 40,835
Deferred rent liability 178,953 176,017
Lease liability, net 6,490,164 6,464,901
Loan payable - related party 7,574,870 5,500,000
Mortgage loans, net of unamortized debt discount of $1,261,954 and $1,103,336 at June 30, 2025 and December 31, 2024, respectively, and debt issuance costs 54,787,093 58,340,234
Derivative liabilities 531,927 169,685
Total liabilities 73,996,772 73,710,451
Redeemable Non-Controlling Interests 31,931,200 26,664,545
Stockholders' (Deficit) Equity    
Common stock, $0.01 par value, 100,000,000 shares authorized; 5,443,188 shares issued and outstanding at June 30, 2025 and December 31, 2024. 54,431 54,431
Additional paid-in capital 29,019,047 29,019,047
Accumulated deficit (30,432,033) (23,277,545)
Total Generation Income Properties, Inc. Stockholders' (Deficit) Equity (1,358,555) 5,795,933
Non-Controlling Interest 392,861 392,861
Total equity (965,694) 6,188,794
Total Liabilities and Equity $ 104,962,278 $ 106,563,790

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