$GIPR
GENERATION INCOME PROPERTIES, INC.

2023 Q2 Form 10-Q Financial Statement

#000095017023021782 Filed on May 12, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $1.329M $1.337M
YoY Change -3.64% 13.12%
Cost Of Revenue $320.3K $313.6K
YoY Change -1.52% 23.76%
Gross Profit $1.009M $1.023M
YoY Change -4.3% 10.22%
Gross Profit Margin 75.9% 76.55%
Selling, General & Admin $641.7K $695.4K
YoY Change -18.09% 11.91%
% of Gross Profit 63.62% 67.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $558.0K $422.0K
YoY Change -0.12% 33.16%
% of Gross Profit 55.32% 41.23%
Operating Expenses $1.987M $2.036M
YoY Change -2.75% 24.44%
Operating Profit -$657.8K -$698.8K
YoY Change -0.9% 53.89%
Interest Expense -$451.7K -$454.8K
YoY Change 19.8% 41.36%
% of Operating Profit
Other Income/Expense, Net $0.00 $506.0K
YoY Change -100.0%
Pretax Income -$752.4K -$1.190M
YoY Change -17.92% 167.19%
Income Tax
% Of Pretax Income
Net Earnings -$881.5K -$1.318M
YoY Change -15.8% 126.96%
Net Earnings / Revenue -66.33% -98.54%
Basic Earnings Per Share -$0.34 -$0.52
Diluted Earnings Per Share -$0.34 -$0.52
COMMON SHARES
Basic Shares Outstanding 2.616M 2.611M
Diluted Shares Outstanding 2.615M 2.541M

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.105M $2.737M
YoY Change -42.3% -40.6%
Cash & Equivalents $2.105M $2.737M
Short-Term Investments
Other Short-Term Assets $533.5K $542.6K
YoY Change 107.71% 9.67%
Inventory
Prepaid Expenses
Receivables $125.3K $151.2K
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.764M $3.431M
YoY Change -30.91% -34.0%
LONG-TERM ASSETS
Property, Plant & Equipment $6.191M $6.212M
YoY Change -88.98% -89.03%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $354.0K $340.2K
YoY Change 10.99% 44.81%
Total Long-Term Assets $59.28M $59.74M
YoY Change -3.29% -2.66%
TOTAL ASSETS
Total Short-Term Assets $2.764M $3.431M
Total Long-Term Assets $59.28M $59.74M
Total Assets $62.05M $63.17M
YoY Change -4.98% -5.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.505M $2.382M
YoY Change 11407.4% 2411.94%
Accrued Expenses $7.251M $7.140M
YoY Change 7.8% 7.86%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.996M $9.860M
YoY Change 43.7% 40.79%
LONG-TERM LIABILITIES
Long-Term Debt $36.46M $36.61M
YoY Change 2.83% 4.52%
Other Long-Term Liabilities $770.2K $769.8K
YoY Change -21.37% -20.37%
Total Long-Term Liabilities $37.23M $37.38M
YoY Change 2.18% 3.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.996M $9.860M
Total Long-Term Liabilities $37.23M $37.38M
Total Liabilities $47.22M $47.24M
YoY Change 8.84% -12.1%
SHAREHOLDERS EQUITY
Retained Earnings -$10.84M -$9.958M
YoY Change 54.29% 65.97%
Common Stock $18.90M $19.13M
YoY Change 1.55% 1.59%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.057M $9.167M
YoY Change
Total Liabilities & Shareholders Equity $62.05M $63.17M
YoY Change -4.98% -5.11%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$881.5K -$1.318M
YoY Change -15.8% 126.96%
Depreciation, Depletion And Amortization $558.0K $422.0K
YoY Change -0.12% 33.16%
Cash From Operating Activities $322.8K -$851.0K
YoY Change 287.76% 304.26%
INVESTING ACTIVITIES
Capital Expenditures -$35.45K $50.00K
YoY Change 597.83% -100.39%
Acquisitions
YoY Change
Other Investing Activities -$174.3K $0.00
YoY Change -61.77% -100.0%
Cash From Investing Activities -$138.8K -$50.00K
YoY Change -69.88% -99.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -815.7K -80.39K
YoY Change 40.38% -101.16%
NET CHANGE
Cash From Operating Activities 322.8K -851.0K
Cash From Investing Activities -138.8K -50.00K
Cash From Financing Activities -815.7K -80.39K
Net Change In Cash -631.7K -981.4K
YoY Change -34.11% -83.59%
FREE CASH FLOW
Cash From Operating Activities $322.8K -$851.0K
Capital Expenditures -$35.45K $50.00K
Free Cash Flow $358.3K -$901.0K
YoY Change 305.59% -107.17%

Facts In Submission

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IncreaseDecreaseInDeferredRentLiability
-95723
CY2022Q1 gipr Increase Decrease In Deferred Rent Liability
IncreaseDecreaseInDeferredRentLiability
18808
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-850964
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-210500
CY2023Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
0
CY2022Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
12775600
CY2022Q1 gipr Escrow Return Deposit For Purchase Of Properties
EscrowReturnDepositForPurchaseOfProperties
-75000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-50000
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-12700600
CY2023Q1 gipr Proceeds From Issuance Of Redeemable Interest
ProceedsFromIssuanceOfRedeemableInterest
3000000
CY2022Q1 gipr Proceeds From Issuance Of Redeemable Interest
ProceedsFromIssuanceOfRedeemableInterest
1109570
CY2023Q1 us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
2479299
CY2022Q1 us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
0
CY2023Q1 gipr Repayments Of Related Party Other Payables
RepaymentsOfRelatedPartyOtherPayables
325000
CY2022Q1 gipr Repayments Of Related Party Other Payables
RepaymentsOfRelatedPartyOtherPayables
0
CY2023Q1 gipr Proceeds From Mortgage Loan Borrowings
ProceedsFromMortgageLoanBorrowings
0
CY2022Q1 gipr Proceeds From Mortgage Loan Borrowings
ProceedsFromMortgageLoanBorrowings
6250000
CY2023Q1 gipr Repayments Of Mortgage Loan
RepaymentsOfMortgageLoan
151627
CY2022Q1 gipr Repayments Of Mortgage Loan
RepaymentsOfMortgageLoan
146254
CY2023Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0
CY2022Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
78878
CY2023Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0
CY2022Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
6091
CY2023Q1 gipr Payments Of Deferred Financing Costs
PaymentsOfDeferredFinancingCosts
0
CY2022Q1 gipr Payments Of Deferred Financing Costs
PaymentsOfDeferredFinancingCosts
165
CY2023Q1 us-gaap Proceeds From Annuities And Investment Certificates
ProceedsFromAnnuitiesAndInvestmentCertificates
352307
CY2022Q1 us-gaap Proceeds From Annuities And Investment Certificates
ProceedsFromAnnuitiesAndInvestmentCertificates
288693
CY2023Q1 us-gaap Repayments Of Annuities And Investment Certificates
RepaymentsOfAnnuitiesAndInvestmentCertificates
60628
CY2022Q1 us-gaap Repayments Of Annuities And Investment Certificates
RepaymentsOfAnnuitiesAndInvestmentCertificates
33359
CY2023Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
118661
CY2022Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
119241
CY2023Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
297479
CY2022Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
334799
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-80387
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6929476
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-981351
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-5981624
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3752996
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
10624076
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2771645
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4642452
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
469191
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
284569
CY2023Q1 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
106
CY2022Q1 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
277
CY2023Q1 gipr Deferred Distribution On Redeemable Non Controlling Interests
DeferredDistributionOnRedeemableNonControllingInterests
16305
CY2022Q1 gipr Deferred Distribution On Redeemable Non Controlling Interests
DeferredDistributionOnRedeemableNonControllingInterests
15780
CY2023Q1 gipr Right Of Use Asset And Liability
RightOfUseAssetAndLiability
0
CY2022Q1 gipr Right Of Use Asset And Liability
RightOfUseAssetAndLiability
6304334
CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Note 1 – Nature of Operations</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Generation Income Properties, Inc. (the “Company”) was formed as a Maryland corporation on </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">September 19, 2015</span></span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">. The Company is an internally managed real estate investment company focused on acquiring and managing income-producing retail, office and industrial properties net leased to high quality tenants in major markets throughout the United States.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company formed Generation Income Properties L.P. (the “Operating Partnership”) in </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">October 2015</span></span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">. Substantially all of the Company’s assets are held by, and operations are conducted through, the Operating Partnership or its direct or indirect subsidiaries. The Company is the general partner of the Operating Partnership and as of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">March 31, 2023 owned </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">90</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">%</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> of the outstanding common units of the Operating Partnership. The Company formed a Maryland entity GIP REIT OP Limited LLC in 2018 that owns </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">0.002</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">%</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> of the Operating Partnership. The Company places each property in a separate entity which may have a Redeemable Non-Controlling interest as a member.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">As of March 31, 2023</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, the Company, the Operating Partnership, and their controlled subsidiaries on a consolidated basis owned </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">12</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> properties and held a partial interest in </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">one</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> additional property through a tenancy-in-common investment.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2023Q1 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2015-09-19
CY2023Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
12
CY2023Q1 gipr Number Of Partial Interest Properties
NumberOfPartialInterestProperties
1
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of financial statements in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of commitments and contingent assets and liabilities, at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. It is possible that the estimates and assumptions that have been utilized in the preparation of the consolidated financial statements could change significantly if economic conditions were to weaken.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2737145
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4607952
CY2023Q1 us-gaap Restricted Cash
RestrictedCash
34500
CY2022Q1 us-gaap Restricted Cash
RestrictedCash
34500
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2771645
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4642452
CY2023Q1 us-gaap Prepaid Rent
PrepaidRent
175466
CY2022Q4 us-gaap Prepaid Rent
PrepaidRent
271189
CY2023Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2022Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2023Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2022Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
542954
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
509815
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
489884
CY2023Q1 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
4677928
CY2022Q4 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
4677928
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1658133
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1522570
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3019795
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3155358
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
135563
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
113992
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
407391
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
394952
CY2023Q1 gipr Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
674799
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3019795
CY2023Q1 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
965216
CY2022Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
965216
CY2023Q1 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
395972
CY2022Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
369858
CY2023Q1 gipr Acquired Lease Intangible Liabilities Net1
AcquiredLeaseIntangibleLiabilitiesNet1
569244
CY2022Q4 gipr Acquired Lease Intangible Liabilities Net1
AcquiredLeaseIntangibleLiabilitiesNet1
595358
CY2023Q1 gipr Above Market Lease Gross
AboveMarketLeaseGross
45207
CY2022Q4 gipr Above Market Lease Gross
AboveMarketLeaseGross
45207
CY2023Q1 gipr Above Market Lease Accumulated Amortization
AboveMarketLeaseAccumulatedAmortization
775
CY2022Q4 gipr Above Market Lease Accumulated Amortization
AboveMarketLeaseAccumulatedAmortization
592
CY2023Q1 gipr Above Market Lease Net
AboveMarketLeaseNet
44432
CY2022Q4 gipr Above Market Lease Net
AboveMarketLeaseNet
44615
CY2023Q1 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
26114
CY2022Q1 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
23841
CY2023Q1 gipr Acquired Lease Intangible Liabilities Amortization Income Remainder Of Fiscal Year
AcquiredLeaseIntangibleLiabilitiesAmortizationIncomeRemainderOfFiscalYear
79074
CY2023Q1 gipr Acquired Lease Intangible Liabilities Amortization Income Next Twelve Months
AcquiredLeaseIntangibleLiabilitiesAmortizationIncomeNextTwelveMonths
105188
CY2023Q1 gipr Acquired Lease Intangible Liabilities Amortization Income Year Two
AcquiredLeaseIntangibleLiabilitiesAmortizationIncomeYearTwo
105188
CY2023Q1 gipr Acquired Lease Intangible Liabilities Amortization Income Year Three
AcquiredLeaseIntangibleLiabilitiesAmortizationIncomeYearThree
93907
CY2023Q1 gipr Acquired Lease Intangible Liabilities Amortization Income Year Four
AcquiredLeaseIntangibleLiabilitiesAmortizationIncomeYearFour
93907
CY2023Q1 gipr Acquired Lease Intangible Liabilities Amortization Income After Year Four
AcquiredLeaseIntangibleLiabilitiesAmortizationIncomeAfterYearFour
91980
CY2023Q1 gipr Acquired Lease Intangible Liabilities Net1
AcquiredLeaseIntangibleLiabilitiesNet1
569244
CY2023Q1 gipr Fixed And In Substance Fixed Lease Income
FixedAndInSubstanceFixedLeaseIncome
1203924
CY2022Q1 gipr Fixed And In Substance Fixed Lease Income
FixedAndInSubstanceFixedLeaseIncome
1085741
CY2023Q1 us-gaap Variable Lease Income
VariableLeaseIncome
79821
CY2022Q1 us-gaap Variable Lease Income
VariableLeaseIncome
71253
CY2023Q1 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
26114
CY2022Q1 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
23841
CY2023Q1 us-gaap Straight Line Rent
StraightLineRent
16848
CY2022Q1 us-gaap Straight Line Rent
StraightLineRent
1100
CY2021Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
9134979
CY2022Q1 gipr Issuance Of Redeemable Operating Partnership Units For Property Acquisition
IssuanceOfRedeemableOperatingPartnershipUnitsForPropertyAcquisition
1109570
CY2022Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
115303
CY2023Q1 us-gaap Lease Income
LeaseIncome
1326707
CY2022Q1 us-gaap Lease Income
LeaseIncome
1181935
CY2023Q1 gipr Number Of Tenants
NumberOfTenants
4
CY2022Q1 gipr Number Of Tenants
NumberOfTenants
4
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
3543139
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
4785452
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
4635711
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
4513724
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
3919118
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
5210921
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
26608065
CY2023Q1 gipr Weighted Average Redemption Price Discount
WeightedAverageRedemptionPriceDiscount
0.15
CY2023Q1 us-gaap Minority Interest Description
MinorityInterestDescription
average 30-day market price of Generation Income Properties, Inc. common stock. GIP LP Units shall then be convertible into common stock of Generation Income Properties, Inc. on a 1:1 basis in accordance with the partnership agreement of the Operating Partnership. Additionally, the Operating Partnership has the right to redeem the preferred equity at redemption value with cash after the second year anniversary of the closing of the acquisition.
CY2023Q1 us-gaap Other Expenses
OtherExpenses
506000
CY2022Q1 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
131083
CY2022Q1 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
10260329
CY2022Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
5789731
CY2023Q1 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
3000000
CY2023Q1 gipr Temporary Equity Redemption Of Redeemable Noncontrolling Interest
TemporaryEquityRedemptionOfRedeemableNoncontrollingInterest
-2479299
CY2023Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
115817
CY2023Q1 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
132122
CY2023Q1 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
6326737
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2023Q1 gipr Undesignated Preferred Stock Shares Authorized
UndesignatedPreferredStockSharesAuthorized
10000000
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
1
CY2020Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
20.00
CY2020Q4 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P7Y
CY2021Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
10.00
CY2022Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
6100
CY2023Q1 gipr Issuance Of Common Stock Share
IssuanceOfCommonStockShare
10648
CY2023Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
996420
CY2022Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1638090
CY2019Q2 gipr Warrants Issuance Date
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2019-04-25
CY2020Q4 gipr Warrants Issuance Date
WarrantsIssuanceDate
2020-11-13
CY2023Q1 gipr Warrants Issued And Outstanding
WarrantsIssuedAndOutstanding
996420
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1102900
CY2022Q4 gipr Class Of Warrant Or Right Outstanding Weighted Average Price
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11.25
CY2022Q4 us-gaap Warrants And Rights Outstanding Term
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P3Y8M12D
CY2023Q1 gipr Class Of Warrant Or Right Outstanding At Exercised
ClassOfWarrantOrRightOutstandingAtExercised
106480
CY2023Q1 gipr Class Of Warrant Or Right Weighted Average Price Exercised
ClassOfWarrantOrRightWeightedAveragePriceExercised
10.00
CY2023Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
996420
CY2023Q1 gipr Class Of Warrant Or Right Outstanding Weighted Average Price
ClassOfWarrantOrRightOutstandingWeightedAveragePrice
11.38
CY2023Q1 us-gaap Warrants And Rights Outstanding Term
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P3Y6M
CY2023Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
996420
CY2023Q1 gipr Class Of Warrant Or Right Weighted Average Exercisable Price
ClassOfWarrantOrRightWeightedAverageExercisablePrice
11.38
CY2023Q1 gipr Warrants And Rights Outstanding Exercisable Term1
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P3Y6M
CY2021Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1914850
CY2021Q4 gipr Class Of Warrant Or Right Outstanding Weighted Average Price
ClassOfWarrantOrRightOutstandingWeightedAveragePrice
10.72
CY2021Q4 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P4Y8M12D
CY2022Q1 gipr Class Of Warrant Or Right Outstanding At Exercised
ClassOfWarrantOrRightOutstandingAtExercised
276760
CY2022Q1 gipr Class Of Warrant Or Right Weighted Average Price Exercised
ClassOfWarrantOrRightWeightedAveragePriceExercised
10.00
CY2022Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1638090
CY2022Q1 gipr Class Of Warrant Or Right Outstanding Weighted Average Price
ClassOfWarrantOrRightOutstandingWeightedAveragePrice
10.84
CY2022Q1 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P4Y6M
CY2022Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
1638090
CY2022Q1 gipr Class Of Warrant Or Right Weighted Average Exercisable Price
ClassOfWarrantOrRightWeightedAverageExercisablePrice
10.84
CY2022Q1 gipr Warrants And Rights Outstanding Exercisable Term1
WarrantsAndRightsOutstandingExercisableTerm1
P4Y6M
CY2023Q1 gipr Class Warrants And Rights Outstanding Intrinsic Value
ClassWarrantsAndRightsOutstandingIntrinsicValue
0
CY2022Q4 gipr Class Warrants And Rights Outstanding Intrinsic Value
ClassWarrantsAndRightsOutstandingIntrinsicValue
0
CY2023Q1 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
90648
CY2022Q1 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
93926
CY2022Q2 gipr Number Of Mortage Loan
NumberOfMortageLoan
1
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
1086357
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
15736930
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
546280
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
568514
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
591656
CY2023Q1 gipr Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
21032195
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
39561932
CY2023Q1 us-gaap Due To Other Related Parties Noncurrent
DueToOtherRelatedPartiesNoncurrent
2262300
CY2022Q2 gipr Debt Service Coverage Ratio
DebtServiceCoverageRatio
0.0150
CY2023Q2 gipr Stock Issued During Period Shares Warrant Exercised
StockIssuedDuringPeriodSharesWarrantExercised
4972

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