v3.25.3
Consolidated Balance Sheets (unaudited) - USD ($)
Sep. 30, 2025
Dec. 31, 2024
Investment in real estate    
Land $ 20,055,577 $ 23,288,811
Building and site improvements 67,133,859 67,647,250
Acquired tenant improvements 2,434,465 2,384,076
Acquired lease intangible assets 9,444,402 10,504,740
Less: accumulated depreciation and amortization (14,065,544) (12,462,091)
Net real estate investments 85,002,759 91,362,786
Cash and cash equivalents 247,288 612,939
Restricted cash 34,500 34,500
Deferred rent asset 382,377 331,837
Prepaid expenses 362,681 140,528
Accounts receivable 6,144 48,118
Escrow deposit and other assets 675,298 1,233,123
Held for sale assets 10,726,355 6,732,001
Right-of-use asset, net 6,008,618 6,067,958
Total Assets 103,446,020 106,563,790
Liabilities    
Accounts payable 611,408 171,262
Accrued expenses 1,971,367 1,127,896
Accrued expense - related party 949,026 683,347
Acquired lease intangible liabilities, net 1,445,993 1,036,274
Insurance payable 128,838 40,835
Deferred rent liability 173,658 176,017
Lease liability 6,503,013 6,464,901
Loan payable - related party 7,614,689 5,500,000
Mortgage loans, net of unamortized debt discount of $1,174,962 and $1,103,336 at September 30, 2025 and December 31, 2024, respectively, and debt issuance costs 54,587,784 58,340,234
Derivative liabilities 534,198 169,685
Total liabilities 74,519,974 73,710,451
Redeemable Non-Controlling Interests 32,459,949 26,664,545
Stockholders' (Deficit) Equity    
Common stock, $0.01 par value, 100,000,000 shares authorized; 5,447,772 and 5,443,188 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively. 54,431 54,431
Additional paid-in capital 29,277,797 29,019,047
Accumulated deficit (33,258,992) (23,277,545)
Total Generation Income Properties, Inc. Stockholders' (Deficit) Equity (3,926,764) 5,795,933
Non-Controlling Interest 392,861 392,861
Total equity (3,533,903) 6,188,794
Total Liabilities and Equity $ 103,446,020 $ 106,563,790

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