Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2022 | Oct. 31, 2022 | |
Document Information Line Items | ||
Entity Registrant Name | AEI NET LEASE INCOME & GROWTH FUND XX LIMITED PARTNERSHIP | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 18,219.68 | |
Amendment Flag | false | |
Entity Central Index Key | 0000894245 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Document Period End Date | Sep. 30, 2022 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q3 | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Document Quarterly Report | true | |
Entity File Number | 000-23778 | |
Entity Incorporation, State or Country Code | MN | |
Entity Tax Identification Number | 41-1729121 | |
Entity Address, Address Line One | 30 East 7th Street, Suite 1300 | |
Entity Address, City or Town | St. Paul | |
Entity Address, State or Province | MN | |
Entity Address, Postal Zip Code | 55101 | |
City Area Code | 651 | |
Local Phone Number | 227-7333 | |
Entity Information, Former Legal or Registered Name | Not Applicable | |
No Trading Symbol Flag | true | |
Security Exchange Name | NONE | |
Title of 12(g) Security | Limited Partnership Units | |
Entity Interactive Data Current | Yes | |
Document Transition Report | false |
Balance Sheet
Balance Sheet - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Current Assets: | ||
Cash | $ 879,169 | $ 5,307,993 |
Rent Receivable | 0 | 2,833 |
Total Current Assets | 879,169 | 5,310,826 |
Real Estate Investments: | ||
Land | 0 | 300,000 |
Buildings | 0 | 635,489 |
Acquired Intangible Lease Assets | 0 | 475,411 |
Real Estate Held for Investment, at cost | 0 | 1,410,900 |
Accumulated Depreciation and Amortization | 0 | (651,801) |
Real Estate Held for Investment, Net | 0 | 759,099 |
Real Estate Held for Sale | 339,536 | 1,316,981 |
Total Real Estate Investments | 339,536 | 2,076,080 |
Total Assets | 1,218,705 | 7,386,906 |
Current Liabilities: | ||
Payable to AEI Fund Management, Inc. | (5,943) | 7,599 |
Distributions Payable | 77,777 | 4,236,774 |
Total Current Liabilities | 71,834 | 4,244,373 |
Partners’ Capital: | ||
General Partners | 11,062 | 7,700 |
Limited Partners – 24,000 Units authorized; 18,219.68 Units issued and outstanding as of 9/30/2022 and 12/31/2021 | 1,135,809 | 3,134,833 |
Total Partners' Capital | 1,146,871 | 3,142,533 |
Total Liabilities and Partners' Capital | $ 1,218,705 | $ 7,386,906 |
Balance Sheet (Parentheticals)
Balance Sheet (Parentheticals) - Limited Partner [Member] - shares | Sep. 30, 2022 | Dec. 31, 2021 |
Limited Partners, units authorized | 24,000 | 24,000 |
Limited Partners, units issued | 18,219.68 | 18,219.68 |
Limited Partners, units outstanding | 18,219.68 | 18,219.68 |
Statement of Income
Statement of Income - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Income Statement [Abstract] | ||||
Rental Income | $ 0 | $ 129,048 | $ 70,794 | $ 632,345 |
Expenses: | ||||
Partnership Administration – Affiliates | 16,347 | 26,789 | 72,019 | 100,401 |
Partnership Administration and Property Management – Unrelated Parties | 9,214 | 11,194 | 49,734 | 55,596 |
Depreciation and Amortization | 0 | 19,507 | 20,219 | 174,647 |
Real Estate Impairment | 35,000 | 0 | 385,000 | 546,923 |
Total Expenses | 60,561 | 57,490 | 526,972 | 877,567 |
Operating Income (Loss) | (60,561) | 71,558 | (456,178) | (245,222) |
Other Income (Loss): | ||||
Gain (Loss) on Sale of Real Estate | 0 | (59,018) | 1,133,641 | 853,999 |
Interest Income | 1,725 | 1,791 | 2,739 | 3,381 |
Total Other Income (Loss) | 1,725 | (57,227) | 1,136,380 | 857,380 |
Net Income | (58,836) | 14,331 | 680,202 | 612,158 |
Net Income (Loss) Allocated: | ||||
General Partners | 761 | 35,706 | 30,121 | 41,684 |
Limited Partners | (59,597) | (21,375) | 650,081 | 570,474 |
Net Income | $ (58,836) | $ 14,331 | $ 680,202 | $ 612,158 |
Net Income (Loss) per Limited Partnership Unit (in Dollars per share) | $ (3.27) | $ (1.17) | $ 35.68 | $ 30.73 |
Weighted Average Units Outstanding – Basic and Diluted (in Shares) | 18,220 | 18,320 | 18,220 | 18,563 |
Statement of Cash Flows
Statement of Cash Flows - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Cash Flows from Operating Activities: | ||||
Net Income | $ (58,836) | $ 14,331 | $ 680,202 | $ 612,158 |
Adjustments to Reconcile Net Income To Net Cash Provided by Operating Activities: | ||||
Depreciation and Amortization | 34,563 | 178,519 | ||
Real Estate Impairment | 35,000 | 0 | 385,000 | 546,923 |
Gain on Sale of Real Estate | 0 | 59,018 | (1,133,641) | (853,999) |
(Increase) Decrease in Rent Receivable | 2,833 | 76,281 | ||
Increase (Decrease) in Payable to AEI Fund Management, Inc. | (13,542) | 21,996 | ||
Increase (Decrease) in Unearned Rent | 0 | (17,873) | ||
Total Adjustments | (724,787) | (48,153) | ||
Net Cash Provided By (Used For) Operating Activities | (44,585) | 564,005 | ||
Cash Flows from Investing Activities: | ||||
Proceeds from Sale of Real Estate | 2,450,622 | 9,287,870 | ||
Cash Flows from Financing Activities: | ||||
Distributions Paid to Partners | (6,834,861) | (2,613,738) | ||
Repurchase of Partnership Units | 0 | (541,730) | ||
Net Cash Provided By (Used For) Financing Activities | (6,834,861) | (3,155,468) | ||
Net Increase (Decrease) in Cash | (4,428,824) | 6,696,407 | ||
Cash, beginning of period | 5,307,993 | 2,882,411 | ||
Cash, end of period | $ 879,169 | $ 9,578,818 | $ 879,169 | $ 9,578,818 |
Statement of Changes in Partner
Statement of Changes in Partners' Capital - USD ($) | General Partner [Member] GeneralPartnersUnits'Member' | General Partner [Member] | Limited Partner [Member] LimitedPartnersUnits'Member' | Limited Partner [Member] | Total |
Balance at Dec. 31, 2020 | $ 38,384 | $ 13,944,984 | $ 13,983,368 | ||
Balance (in Shares) at Dec. 31, 2020 | 19,051.11 | ||||
Distributions Declared | (1,984) | (196,397) | (198,381) | ||
Net Income | 1,057 | 104,638 | 105,695 | ||
Balance at Mar. 31, 2021 | 37,457 | 13,853,225 | 13,890,682 | ||
Balance (in Shares) at Mar. 31, 2021 | 19,051.11 | ||||
Balance at Dec. 31, 2020 | 38,384 | 13,944,984 | 13,983,368 | ||
Balance (in Shares) at Dec. 31, 2020 | 19,051.11 | ||||
Distributions Declared | $ (66,526) | $ (6,586,004) | (6,652,530) | ||
Net Income | 612,158 | ||||
Balance at Sep. 30, 2021 | 8,125 | 7,393,141 | 7,401,266 | ||
Balance (in Shares) at Sep. 30, 2021 | 18,319.53 | ||||
Balance at Mar. 31, 2021 | 37,457 | 13,853,225 | 13,890,682 | ||
Balance (in Shares) at Mar. 31, 2021 | 19,051.11 | ||||
Distributions Declared | (22,170) | (2,194,806) | (2,216,976) | ||
Repurchase of Partnership Units | (5,417) | (536,313) | (541,730) | ||
Units Repurchased (in Shares) | (731.58) | ||||
Net Income | 4,921 | 487,211 | 492,132 | ||
Balance at Jun. 30, 2021 | 14,791 | 11,609,317 | 11,624,108 | ||
Balance (in Shares) at Jun. 30, 2021 | 18,319.53 | ||||
Distributions Declared | (42,372) | (4,194,801) | (4,237,173) | ||
Net Income | 35,706 | (21,375) | 14,331 | ||
Balance at Sep. 30, 2021 | 8,125 | 7,393,141 | 7,401,266 | ||
Balance (in Shares) at Sep. 30, 2021 | 18,319.53 | ||||
Balance at Dec. 31, 2021 | 7,700 | 3,134,833 | 3,142,533 | ||
Balance (in Shares) at Dec. 31, 2021 | 18,219.68 | ||||
Distributions Declared | (25,196) | (2,494,403) | (2,519,599) | ||
Net Income | 28,656 | 1,089,930 | 1,118,586 | ||
Balance at Mar. 31, 2022 | 11,160 | 1,730,360 | 1,741,520 | ||
Balance (in Shares) at Mar. 31, 2022 | 18,219.68 | ||||
Balance at Dec. 31, 2021 | 7,700 | 3,134,833 | 3,142,533 | ||
Balance (in Shares) at Dec. 31, 2021 | 18,219.68 | ||||
Distributions Declared | $ (26,759) | $ (2,649,105) | (2,675,864) | ||
Net Income | 680,202 | ||||
Balance at Sep. 30, 2022 | 11,062 | 1,135,809 | 1,146,871 | ||
Balance (in Shares) at Sep. 30, 2022 | 18,219.68 | ||||
Balance at Mar. 31, 2022 | 11,160 | 1,730,360 | 1,741,520 | ||
Balance (in Shares) at Mar. 31, 2022 | 18,219.68 | ||||
Distributions Declared | (785) | (77,703) | (78,488) | ||
Net Income | 704 | (380,252) | (379,548) | ||
Balance at Jun. 30, 2022 | 11,079 | 1,272,405 | 1,283,484 | ||
Balance (in Shares) at Jun. 30, 2022 | 18,219.68 | ||||
Distributions Declared | (778) | (76,999) | (77,777) | ||
Net Income | 761 | (59,597) | (58,836) | ||
Balance at Sep. 30, 2022 | $ 11,062 | $ 1,135,809 | $ 1,146,871 | ||
Balance (in Shares) at Sep. 30, 2022 | 18,219.68 |
Basis of Accounting
Basis of Accounting | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Basis of Accounting [Text Block] | (1) The condensed statements included herein have been prepared by the registrant, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission, and reflect all adjustments which are, in the opinion of management, necessary to a fair statement of the results of operations for the interim period, on a basis consistent with the annual audited statements. The adjustments made to these condensed statements consist only of normal recurring adjustments. Certain information, accounting policies, and footnote disclosures normally included in financial statements prepared in accordance with United States Generally Accepted Accounting Principles (US GAAP) have been condensed or omitted pursuant to such rules and regulations, although the registrant believes that the disclosures are adequate to make the information presented not misleading. It is suggested that these condensed financial statements be read in conjunction with the financial statements and the summary of significant accounting policies and notes thereto included in the registrant’s latest annual report on Form 10K. |
Organization
Organization | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | (2) Organization – AEI Net Lease Income & Growth Fund XX Limited Partnership (“Partnership”) was formed to acquire and lease commercial properties to operating tenants. The Partnership's operations are managed by AEI Fund Management XX, Inc. (“AFM”), the Managing General Partner. The Estate of Robert P. Johnson serves as the Individual General Partner. AFM is a wholly owned subsidiary of AEI Capital Corporation of which the Robert P. Johnson Trust and Patricia Johnson, own a majority interest. AEI Fund Management, Inc. (“AEI”), an affiliate of AFM, performs the administrative and operating functions for the Partnership. In January 2021, the Managing General Partner mailed a Consent Statement (Proxy) seeking the consent of the Limited Partners to continue the Partnership for an additional 60 months or to initiate the final disposition, liquidation and distribution of all of the Partnership’s properties and assets within 24 to 36 months. Approval of either proposal required the affirmative vote of holders of a majority of the outstanding units. On March 3, 2021, the proposal was approved with a majority of Units voting in favor of the proposal. As a result, the Managing General Partner is proceeding with the planned liquidation of the Partnership. |
Recently Issued Accounting Pron
Recently Issued Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | (3) Recently Issued Accounting Pronouncements – In April 2020, the Financial Accounting Standards Board (FASB) issued a question-and-answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions provided as a result of COVID-19. Under existing lease guidance, the Partnership would have to determine, on a lease by lease basis, if a lease concession was the result of a new arrangement reached with the tenant or if a lease concession was under the enforceable rights and obligations within the existing lease agreement. The Lease Modification Q&A clarifies that entities may elect to not evaluate whether lease-related relief that lessors provide to mitigate the economic effects of COVID-19 on lessees is a lease modification under current lease guidance. Instead, an entity that elects not to evaluate whether a concession directly related to COVID-19 is a modification can then elect whether to apply the modification guidance. Other accounting standards that have been issued or proposed by the FASB are currently not applicable to the Partnership or are not expected to have a significant impact on the Partnership’s financial position, results of operations and cash flows. |
Real Estate Investments
Real Estate Investments | 9 Months Ended |
Sep. 30, 2022 | |
Real Estate [Abstract] | |
Real Estate Disclosure [Text Block] | (4) Real Estate Investments – In March 2021, the Partnership entered into an agreement to sell the Dollar Tree store in Indianapolis, Indiana to an unrelated third party. On April 20, 2021, the sale closed with the Partnership receiving net proceeds of $1,608,689, which resulted in a net gain of $187,451. At the time of sale, the cost and related accumulated depreciation and amortization was $1,739,074 and $317,836, respectively. In May 2021, the Partnership entered into an agreement to sell the Fresenius Medical Center in Green, Ohio to an unrelated third party. On June 29, 2021, the sale closed with the Partnership receiving net proceeds of $2,560,199, which resulted in a net gain of $725,566. At the time of sale, the cost and related accumulated depreciation and amortization was $2,360,000 and $525,367, respectively. In May 2021, the Partnership entered into an agreement to sell 2.36 acres of land in Fredericksburg, Virginia to an unrelated third party. Based on its long-lived asset valuation analysis, the Partnership determined the land was impaired. As a result, in the second quarter of 2021, a charge to operations for real estate impairment of $133,134 was recognized, which was the difference between the carrying value at June 30, 2021 of $3,155,134 and the estimated fair value of $3,022,000. The charge was recorded against the cost of the land. On July 23, 2021, the sale closed with the Partnership receiving net proceeds of $3,010,150, which resulted in a net loss of $11,850. At the time of sale, the cost and related accumulated amortization was $3,032,763 and $10,763, respectively. In July 2021, the Partnership entered into an agreement to sell its 70% interest in the Staples retail store in Vernon Hills, Illinois to an unrelated third party. Based on its long-lived asset valuation analysis, the Partnership determined the Staples store was impaired. As a result, in the second quarter of 2021, a charge to operations for real estate impairment of $413,789 was recognized which was the difference between the carrying value at June 30, 2021 of $2,569,789 and the estimated fair value of $2,156,000. The charge was recorded against the cost of the land and building. On September 10, 2021, the sale closed with the Partnership receiving net proceeds of $2,108,832, which resulted in a net loss of $47,168. At the time of the sale, the cost and related accumulated depreciation and amortization was $3,300,849 and $1,144,849, respectively. In July 2021, the Partnership entered into an agreement with the tenant of the Jared Jewelry store in Hanover, Maryland to extend the lease term seven years to end on January 21, 2029. As part of the agreement, the annual rent was to decrease from $224,340 to $167,500 effective February 1, 2022. In December 2021, the Partnership entered into an agreement to sell its 50% interest in the Jared Jewelry store in Hanover, Maryland to an unrelated third party. On February 14, 2022, the sale closed with the Partnership receiving net proceeds of $2,450,622, which resulted in a net gain of $1,133,641. At the time of sale, the cost and related accumulated depreciation was $1,989,105 and $672,124, respectively. In June 2022, the Partnership performed a long-lived asset valuation analysis and determined the Family Dollar store in Mobile, Alabama was impaired. As a result, in the second quarter of 2022, the Partnership recognized real estate impairment of $350,000 to decrease the carrying value to the estimated fair value of approximately $375,000. The charge was recorded against the land, building, in-place lease and above market lease. In September 2022, the Partnership recognized an additional real estate impairment of $35,000 to decrease the carrying value to the estimated fair value of approximately $340,000. This property has been classified as Real Estate Held for Sale on the balance sheet as of September 30, 2022 with a carrying value of $340,000. In October 2022, the Partnership entered into an agreement to sell its 100% interest in the Family Dollar store in Mobile, Alabama to an unrelated third party. The sale is subject to contingencies and may not be completed. If the sale is completed, the Partnership expects to receive net sale proceeds of approximately $340,000, which will result in no net gain or loss. |
Payable to AEI Fund Management,
Payable to AEI Fund Management, Inc. | 9 Months Ended |
Sep. 30, 2022 | |
Payables and Accruals [Abstract] | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | (5) Payable to AEI Fund Management, Inc. – AEI Fund Management, Inc. performs the administrative and operating functions for the Partnership. The payable to AEI Fund Management represents the balance due for those services. This balance is non-interest bearing and unsecured and is to be paid in the normal course of business. |
Partners' Capital
Partners' Capital | 9 Months Ended |
Sep. 30, 2022 | |
Partners' Capital Notes [Abstract] | |
Partners' Capital Notes Disclosure [Text Block] | (6) Partners’ Capital – For the nine months ended September 30, 2022 and 2021, the Partnership declared distributions of $2,675,864 and $6,652,530, respectively. The Limited Partners were allocated distributions of $2,649,105 and $6,586,004 and the General Partners were allocated distributions of $26,759 and $66,526 for the periods, respectively. The Limited Partners' distributions represented $145.40 and $354.79 per Limited Partnership Unit outstanding using 18,220 and 18,563 weighted average Units in 2022 and 2021, respectively. The distributions represented $35.68 and $30.73 per Unit of Net Income and $109.72 and $324.06 per Unit of return of capital in 2022 and 2021, respectively. As part of the distributions discussed above, the Partnership distributed net sale proceeds of $2,673,637 and $6,060,606 in 2022 and 2021, respectively. The Limited Partners were allocated distributions of $2,646,901 and $6,000,000 and the General Partners were allocated distributions of $26,736 and $60,606 for the periods, respectively. The Limited Partners’ distributions represented $145.28 and $327.52 per Unit for the periods, respectively. |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | (7) Fair Value Measurements – As of September 30, 2022 and December 31, 2021, the Partnership had no assets or liabilities measured at fair value on a recurring basis or nonrecurring basis. During 2022, the Partnership impaired the Family Dollar store in Mobile, Alabama to its fair value of approximately $340,000. Fair value was determined using feedback provided by a local broker less costs to sell based on the held for sale classification (level 2 in the fair value hierarchy). An impairment of $350,000 was recognized during the second quarter of 2022 and an impairment of $35,000 was recognized during the third quarter of 2022. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncement or Change in Accounting Principle, Description | In April 2020, the Financial Accounting Standards Board (FASB) issued a question-and-answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions provided as a result of COVID-19. Under existing lease guidance, the Partnership would have to determine, on a lease by lease basis, if a lease concession was the result of a new arrangement reached with the tenant or if a lease concession was under the enforceable rights and obligations within the existing lease agreement. The Lease Modification Q&A clarifies that entities may elect to not evaluate whether lease-related relief that lessors provide to mitigate the economic effects of COVID-19 on lessees is a lease modification under current lease guidance. Instead, an entity that elects not to evaluate whether a concession directly related to COVID-19 is a modification can then elect whether to apply the modification guidance. Other accounting standards that have been issued or proposed by the FASB are currently not applicable to the Partnership or are not expected to have a significant impact on the Partnership’s financial position, results of operations and cash flows. |
Real Estate Investments (Detail
Real Estate Investments (Details) - USD ($) | 3 Months Ended | 7 Months Ended | 9 Months Ended | 11 Months Ended | |||||||||||
Oct. 01, 2022 | Sep. 10, 2021 | Jul. 23, 2021 | Jul. 01, 2021 | Jun. 30, 2021 | Jun. 29, 2021 | Apr. 20, 2021 | Sep. 30, 2022 | Jun. 30, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Jan. 31, 2022 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2022 | |
Real Estate Investments (Details) [Line Items] | |||||||||||||||
Gain (Loss) on Disposition of Assets | $ 0 | $ (59,018) | $ 1,133,641 | $ 853,999 | |||||||||||
Impairment of Real Estate | 35,000 | $ 0 | 385,000 | $ 546,923 | |||||||||||
Fresenius Medical Center Green OH | |||||||||||||||
Real Estate Investments (Details) [Line Items] | |||||||||||||||
Disposal Date | Jun. 29, 2021 | ||||||||||||||
Proceeds from Sale of Real Estate | $ 2,560,199 | ||||||||||||||
Gain (Loss) on Disposition of Assets | 725,566 | ||||||||||||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Cost of Investment in Real Estate Sold | 2,360,000 | ||||||||||||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation, Investment in Real Estate Sold | $ 525,367 | ||||||||||||||
Basset Furniture Fredericksburg VA | |||||||||||||||
Real Estate Investments (Details) [Line Items] | |||||||||||||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Cost of Investment in Real Estate Sold | $ 3,032,763 | ||||||||||||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | 10,763 | ||||||||||||||
Impairment of Real Estate | $ 133,134 | ||||||||||||||
Property, Plant and Equipment, Gross | 3,155,134 | $ 3,155,134 | |||||||||||||
Property, Plant, and Equipment, Fair Value Disclosure | 3,022,000 | 3,022,000 | |||||||||||||
Proceeds from Sale of Other Real Estate | $ 3,010,150 | ||||||||||||||
Staples Vernon Hills IL | |||||||||||||||
Real Estate Investments (Details) [Line Items] | |||||||||||||||
Impairment of Real Estate | 413,789 | ||||||||||||||
Property, Plant and Equipment, Gross | 2,569,789 | 2,569,789 | |||||||||||||
Property, Plant, and Equipment, Fair Value Disclosure | $ 2,156,000 | $ 2,156,000 | |||||||||||||
Jared Jewelry Hanover MD | |||||||||||||||
Real Estate Investments (Details) [Line Items] | |||||||||||||||
Disposal Date | Feb. 14, 2022 | ||||||||||||||
AverageLeaseTerm | In July 2021, the Partnership entered into an agreement with the tenant of the Jared Jewelry store in Hanover, Maryland to extend the lease term seven years to end on January 21, 2029 | ||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 224,340 | $ 167,500 | |||||||||||||
Family Dollar | |||||||||||||||
Real Estate Investments (Details) [Line Items] | |||||||||||||||
Impairment of Real Estate | 35,000 | $ 350,000 | |||||||||||||
Property, Plant, and Equipment, Fair Value Disclosure | 340,000 | $ 375,000 | 340,000 | ||||||||||||
Real Estate, Land, Held-for-Sale | $ 340,000 | $ 340,000 | |||||||||||||
Dollar Tree Indianapolis IN | |||||||||||||||
Real Estate Investments (Details) [Line Items] | |||||||||||||||
Disposal Date | Apr. 20, 2021 | ||||||||||||||
Proceeds from Sale of Real Estate | $ 1,608,689 | ||||||||||||||
Gain (Loss) on Disposition of Assets | 187,451 | ||||||||||||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Cost of Investment in Real Estate Sold | 1,739,074 | ||||||||||||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 317,836 | ||||||||||||||
Basset Furniture Fredericksburg VA | |||||||||||||||
Real Estate Investments (Details) [Line Items] | |||||||||||||||
Disposal Date | Jul. 23, 2021 | ||||||||||||||
Gain (Loss) on Disposition of Assets | $ 11,850 | ||||||||||||||
Staples Vernon Hills IL | |||||||||||||||
Real Estate Investments (Details) [Line Items] | |||||||||||||||
Proceeds from Sale of Real Estate | $ 2,108,832 | ||||||||||||||
Gain (Loss) on Disposition of Assets | 47,168 | ||||||||||||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Cost of Investment in Real Estate Sold | 3,300,849 | ||||||||||||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation, Investment in Real Estate Sold | 1,144,849 | ||||||||||||||
Jared Jewelry Hanover MD | |||||||||||||||
Real Estate Investments (Details) [Line Items] | |||||||||||||||
Proceeds from Sale of Real Estate | 2,450,622 | ||||||||||||||
Gain (Loss) on Disposition of Assets | 1,133,641 | ||||||||||||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Cost of Investment in Real Estate Sold | 1,989,105 | ||||||||||||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation | $ 672,124 | ||||||||||||||
Family Dollar | |||||||||||||||
Real Estate Investments (Details) [Line Items] | |||||||||||||||
Proceeds from Sale of Real Estate | $ 340,000 |
Partners' Capital (Details)
Partners' Capital (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Partners' Capital (Details) [Line Items] | ||||||||
Distribution Made to Limited Partner, Cash Distributions Declared | $ 77,777 | $ 78,488 | $ 2,519,599 | $ 4,237,173 | $ 2,216,976 | $ 198,381 | $ 2,675,864 | $ 6,652,530 |
SaleProceedsDistributionMadeToMemberOrLimitedPartner | $ 2,673,637 | |||||||
Units of Partnership Interest, Description | $6,060,606 | |||||||
Partners' Capital, Limitation of Liability | $26,736 | $60,606 | ||||||
SaleProceedsDistributionMadetoLimitedPartnerPerUnit (in Dollars per share) | $ 327.52 | |||||||
Limited Partner [Member] | ||||||||
Partners' Capital (Details) [Line Items] | ||||||||
Distribution Made to Limited Partner, Cash Distributions Declared | $ 2,649,105 | $ 6,586,004 | ||||||
Distribution Made to Limited Partner, Distributions Declared, Per Unit (in Dollars per share) | $ 145.4 | $ 354.79 | ||||||
Weighted Average Limited Partnership Units Outstanding, Basic (in Shares) | 18,220 | 18,563 | ||||||
DistributionsPerUnitOfNetIncome (in Dollars per share) | $ 35.68 | $ 30.73 | ||||||
DistributionsPerUnitOfReturnOfCapital (in Dollars per share) | $ 109.72 | $ 324.06 | ||||||
SaleProceedsDistributionMadeToMemberOrLimitedPartner | $ 2,646,901 | |||||||
SaleProceedsDistributionMadetoLimitedPartnerPerUnit (in Dollars per share) | $ 145.28 | |||||||
General Partner [Member] | ||||||||
Partners' Capital (Details) [Line Items] | ||||||||
Distribution Made to Limited Partner, Cash Distributions Declared | $ 26,759 | $ 66,526 | ||||||
SaleProceedsDistributionMadeToMemberOrLimitedPartner | $ 6,000,000 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - USD ($) | Sep. 30, 2022 | Jun. 30, 2022 |
Fair Value Measurements (Details) [Line Items] | ||
Fair Value, Concentration of Risk, Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell | $ 35,000 | $ 350,000 |
Estimate of Fair Value Measurement [Member] | ||
Fair Value Measurements (Details) [Line Items] | ||
Property, Plant, and Equipment, Fair Value Disclosure | $ 340,000 |