v3.22.2.2
Consolidated Balance Sheets - USD ($)
Sep. 30, 2022
Dec. 31, 2021
Investment in real estate    
Land $ 12,577,544 $ 9,443,445
Building and site improvements 39,762,696 31,581,864
Tenant improvements 907,382 482,701
Acquired lease intangible assets 4,677,928 3,304,014
Less accumulated depreciation and amortization (5,063,422) (3,512,343)
Total real estate investments, net 52,862,128 41,299,681
Investment in tenancy-in-common 1,204,811 725,082
Cash and cash equivalents 2,587,669 10,589,576
Restricted cash 34,500 34,500
Deferred rent asset 272,183 156,842
Prepaid expenses 226,537 237,592
Deferred financing costs 66,767 0
Accounts receivable 61,950 88,661
Escrow deposit and other assets 238,389 288,782
Right of use asset, net 6,253,975 0
Total Assets 63,808,909 53,420,716
Liabilities    
Accounts payable 104,772 201,727
Accrued expenses 386,079 134,816
Acquired lease intangible liabilities, net 666,270 577,388
Insurance payable 127,103 33,359
Deferred rent liability 177,011 228,938
Right of use lease liability 6,303,232 0
Other payable - related party 2,587,300 0
Mortgage loans, net of unamortized debt issuance costs of $734,477 and $637,693 at September 30, 2022 and December 31, 2021, respectively 35,364,605 28,969,295
Total liabilities 45,716,372 30,145,523
Redeemable Non-Controlling Interests 5,773,636 9,134,979
Stockholders' Equity    
Common stock, $0.01 par value, 100,000,000 shares authorized; 2,489,282 and 2,172,950 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively 2021, respectively 24,892 21,729
Additional paid-in capital 19,506,770 19,051,929
Accumulated deficit (7,664,430) (5,403,156)
Total Generation Income Properties, Inc. stockholders' equity 11,867,232 13,670,502
Non-Controlling Interest 451,669 469,712
Total equity 12,318,901 14,140,214
Total Liabilities and Stockholders' Equity $ 63,808,909 $ 53,420,716

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