$GIPR
GENERATION INCOME PROPERTIES, INC.

2023 Q3 Form 10-Q Financial Statement

#000095017023042395 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $1.844M $1.329M
YoY Change 25.1% -3.64%
Cost Of Revenue $431.4K $320.3K
YoY Change 59.89% -1.52%
Gross Profit $1.413M $1.009M
YoY Change 17.31% -4.3%
Gross Profit Margin 76.61% 75.9%
Selling, General & Admin $876.7K $641.7K
YoY Change 17.91% -18.09%
% of Gross Profit 62.06% 63.62%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $891.8K $558.0K
YoY Change 58.82% -0.12%
% of Gross Profit 63.12% 55.32%
Operating Expenses $3.060M $1.987M
YoY Change 56.35% -2.75%
Operating Profit -$1.216M -$657.8K
YoY Change 151.65% -0.9%
Interest Expense -$767.3K -$451.7K
YoY Change 109.81% 19.8%
% of Operating Profit
Other Income/Expense, Net $639.00 $0.00
YoY Change -101.4% -100.0%
Pretax Income -$1.213M -$752.4K
YoY Change 136.91% -17.92%
Income Tax
% Of Pretax Income
Net Earnings -$1.639M -$881.5K
YoY Change 156.51% -15.8%
Net Earnings / Revenue -88.87% -66.33%
Basic Earnings Per Share -$0.70 -$0.34
Diluted Earnings Per Share -$0.70 -$0.34
COMMON SHARES
Basic Shares Outstanding 2.618M 2.616M
Diluted Shares Outstanding 2.618M 2.615M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.338M $2.105M
YoY Change 67.65% -42.3%
Cash & Equivalents $4.338M $2.105M
Short-Term Investments
Other Short-Term Assets $318.6K $533.5K
YoY Change 40.65% 107.71%
Inventory
Prepaid Expenses
Receivables $305.9K $125.3K
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.963M $2.764M
YoY Change 72.55% -30.91%
LONG-TERM ASSETS
Property, Plant & Equipment $6.170M $6.191M
YoY Change -88.95% -88.98%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $374.7K $354.0K
YoY Change 0.33% 10.99%
Total Long-Term Assets $105.8M $59.28M
YoY Change 73.65% -3.29%
TOTAL ASSETS
Total Short-Term Assets $4.963M $2.764M
Total Long-Term Assets $105.8M $59.28M
Total Assets $110.8M $62.05M
YoY Change 73.6% -4.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.114M $2.505M
YoY Change -21.47% 11407.4%
Accrued Expenses $7.975M $7.251M
YoY Change 19.22% 7.8%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.23M $9.996M
YoY Change 7.56% 43.7%
LONG-TERM LIABILITIES
Long-Term Debt $62.58M $36.46M
YoY Change 76.95% 2.83%
Other Long-Term Liabilities $1.369M $770.2K
YoY Change 62.35% -21.37%
Total Long-Term Liabilities $63.95M $37.23M
YoY Change 76.61% 2.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.23M $9.996M
Total Long-Term Liabilities $63.95M $37.23M
Total Liabilities $74.17M $47.22M
YoY Change 62.25% 8.84%
SHAREHOLDERS EQUITY
Retained Earnings -$12.67M -$10.84M
YoY Change 65.29% 54.29%
Common Stock $18.71M $18.90M
YoY Change -4.21% 1.55%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.120M $8.057M
YoY Change
Total Liabilities & Shareholders Equity $110.8M $62.05M
YoY Change 73.6% -4.98%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$1.639M -$881.5K
YoY Change 156.51% -15.8%
Depreciation, Depletion And Amortization $891.8K $558.0K
YoY Change 58.82% -0.12%
Cash From Operating Activities $548.5K $322.8K
YoY Change 36.12% 287.76%
INVESTING ACTIVITIES
Capital Expenditures $33.30M -$35.45K
YoY Change -49448.01% 597.83%
Acquisitions
YoY Change
Other Investing Activities $170.0K -$174.3K
YoY Change -440.0% -61.77%
Cash From Investing Activities -$33.12M -$138.8K
YoY Change 28096.26% -69.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 34.82M -815.7K
YoY Change -2684.75% 40.38%
NET CHANGE
Cash From Operating Activities 548.5K 322.8K
Cash From Investing Activities -33.12M -138.8K
Cash From Financing Activities 34.82M -815.7K
Net Change In Cash 2.240M -631.7K
YoY Change -310.99% -34.11%
FREE CASH FLOW
Cash From Operating Activities $548.5K $322.8K
Capital Expenditures $33.30M -$35.45K
Free Cash Flow -$32.76M $358.3K
YoY Change -7062.64% 305.59%

Facts In Submission

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GENERATION INCOME PROPERTIES, INC.
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CY2023Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
115817
CY2023Q1 us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
297479
CY2023Q1 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
132122
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
9604623
CY2023Q1 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
6326737
CY2023Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
77039
CY2023Q2 gipr Distribution On Non Controlling Interest
DistributionOnNonControllingInterest
-2844
CY2023Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
126998
CY2023Q2 us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
305991
CY2023Q2 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
143303
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
8477127
CY2023Q2 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
6343042
us-gaap Profit Loss
ProfitLoss
-1942750
us-gaap Profit Loss
ProfitLoss
-1362210
us-gaap Depreciation
Depreciation
844249
us-gaap Depreciation
Depreciation
737552
gipr Amortization Of Acquired Lease Intangible Assets
AmortizationOfAcquiredLeaseIntangibleAssets
271302
gipr Amortization Of Acquired Lease Intangible Assets
AmortizationOfAcquiredLeaseIntangibleAssets
252017
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
57730
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
61606
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
101989
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
49955
gipr Amortization Of Above Market Ground Lease
AmortizationOfAboveMarketGroundLease
366
gipr Amortization Of Above Market Ground Lease
AmortizationOfAboveMarketGroundLease
226
us-gaap Restricted Stock Expense
RestrictedStockExpense
167687
us-gaap Restricted Stock Expense
RestrictedStockExpense
218044
gipr Ground Lease Amortization
GroundLeaseAmortization
42133
gipr Ground Lease Amortization
GroundLeaseAmortization
28936
gipr Equity In Earnings On Investment In Tenancy In Common
EquityInEarningsOnInvestmentInTenancyInCommon
29411
gipr Equity In Earnings On Investment In Tenancy In Common
EquityInEarningsOnInvestmentInTenancyInCommon
7090
gipr Dead Deal Expenses
DeadDealExpenses
109569
gipr Dead Deal Expenses
DeadDealExpenses
107371
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-144029
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
29236
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
6136
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1046
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
46187
gipr Increase Decrease In Deferred Rent Asset
IncreaseDecreaseInDeferredRentAsset
30731
gipr Increase Decrease In Deferred Rent Asset
IncreaseDecreaseInDeferredRentAsset
40522
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
336070
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
126596
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
69394
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-179958
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
390983
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
60568
gipr Increase Decrease In Right Of Use Liability
IncreaseDecreaseInRightOfUseLiability
9649
gipr Increase Decrease In Right Of Use Liability
IncreaseDecreaseInRightOfUseLiability
23517
gipr Increase Decrease In Deferred Rent Liability
IncreaseDecreaseInDeferredRentLiability
-19248
gipr Increase Decrease In Deferred Rent Liability
IncreaseDecreaseInDeferredRentLiability
57993
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-528151
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-127247
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
14551
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
12780680
gipr Prepaid Capitalizable Deal Costs For Future Property Acquisition
PrepaidCapitalizableDealCostsForFuturePropertyAcquisition
-174303
gipr Prepaid Capitalizable Deal Costs For Future Property Acquisition
PrepaidCapitalizableDealCostsForFuturePropertyAcquisition
0
gipr Escrow Return Deposit For Purchase Of Properties
EscrowReturnDepositForPurchaseOfProperties
0
gipr Escrow Return Deposit For Purchase Of Properties
EscrowReturnDepositForPurchaseOfProperties
-75000
us-gaap Payments To Acquire Partners Interest In Real Estate Partnership Net Of Cash Acquired
PaymentsToAcquirePartnersInterestInRealEstatePartnershipNetOfCashAcquired
0
us-gaap Payments To Acquire Partners Interest In Real Estate Partnership Net Of Cash Acquired
PaymentsToAcquirePartnersInterestInRealEstatePartnershipNetOfCashAcquired
455889
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-188854
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-13161569
gipr Proceeds From Issuance Of Redeemable Interest
ProceedsFromIssuanceOfRedeemableInterest
3000000
gipr Proceeds From Issuance Of Redeemable Interest
ProceedsFromIssuanceOfRedeemableInterest
1109570
us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
2479299
us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
203326
gipr Repayments Of Related Party Other Payables
RepaymentsOfRelatedPartyOtherPayables
325000
gipr Repayments Of Related Party Other Payables
RepaymentsOfRelatedPartyOtherPayables
0
us-gaap Proceeds From Repayments Of Secured Debt
ProceedsFromRepaymentsOfSecuredDebt
0
us-gaap Proceeds From Repayments Of Secured Debt
ProceedsFromRepaymentsOfSecuredDebt
17650000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
332760
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
11014986
us-gaap Escrow Deposit Disbursements Related To Property Acquisition1
EscrowDepositDisbursementsRelatedToPropertyAcquisition1
100000
us-gaap Escrow Deposit Disbursements Related To Property Acquisition1
EscrowDepositDisbursementsRelatedToPropertyAcquisition1
-0
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
354432
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
6091
gipr Payments Of Deferred Financing Costs
PaymentsOfDeferredFinancingCosts
0
gipr Payments Of Deferred Financing Costs
PaymentsOfDeferredFinancingCosts
87020
us-gaap Proceeds From Annuities And Investment Certificates
ProceedsFromAnnuitiesAndInvestmentCertificates
352307
us-gaap Proceeds From Annuities And Investment Certificates
ProceedsFromAnnuitiesAndInvestmentCertificates
288693
us-gaap Repayments Of Annuities And Investment Certificates
RepaymentsOfAnnuitiesAndInvestmentCertificates
159374
us-gaap Repayments Of Annuities And Investment Certificates
RepaymentsOfAnnuitiesAndInvestmentCertificates
114215
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
248503
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
241735
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
603470
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
678053
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-896099
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6348405
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1613104
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-6940411
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
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2139892
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3683665
us-gaap Interest Paid Net
InterestPaidNet
882585
us-gaap Interest Paid Net
InterestPaidNet
624470
us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
173
us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
373
gipr Deferred Distribution On Redeemable Non Controlling Interests
DeferredDistributionOnRedeemableNonControllingInterests
32610
gipr Deferred Distribution On Redeemable Non Controlling Interests
DeferredDistributionOnRedeemableNonControllingInterests
31734
gipr Right Of Use Asset And Liability
RightOfUseAssetAndLiability
0
gipr Right Of Use Asset And Liability
RightOfUseAssetAndLiability
6304334
gipr Non Controlling Interest Common Redemption Value
NonControllingInterestCommonRedemptionValue
0
gipr Non Controlling Interest Common Redemption Value
NonControllingInterestCommonRedemptionValue
203326
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: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;">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;">June 30, 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: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;">As of June 30, 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>
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2015-09-19
CY2023Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
12
CY2023Q2 gipr Number Of Partial Interest Properties
NumberOfPartialInterestProperties
1
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3752996
CY2023Q2 gipr Acquired Lease Intangible Liabilities Amortization Income Next Twelve Months
AcquiredLeaseIntangibleLiabilitiesAmortizationIncomeNextTwelveMonths
105188
CY2023Q2 gipr Acquired Lease Intangible Liabilities Amortization Income Year Two
AcquiredLeaseIntangibleLiabilitiesAmortizationIncomeYearTwo
105188
CY2023Q2 gipr Acquired Lease Intangible Liabilities Amortization Income Year Three
AcquiredLeaseIntangibleLiabilitiesAmortizationIncomeYearThree
93907
CY2023Q2 gipr Acquired Lease Intangible Liabilities Amortization Income Year Four
AcquiredLeaseIntangibleLiabilitiesAmortizationIncomeYearFour
93907
CY2023Q2 gipr Acquired Lease Intangible Liabilities Amortization Income After Year Four
AcquiredLeaseIntangibleLiabilitiesAmortizationIncomeAfterYearFour
42585
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:6.0pt;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:6.0pt;font-family:Times New Roman;margin-bottom:6.0pt;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>
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2105392
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3718496
CY2023Q2 us-gaap Restricted Cash
RestrictedCash
34500
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
34500
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2139892
CY2023Q2 us-gaap Prepaid Rent
PrepaidRent
232550
CY2022Q4 us-gaap Prepaid Rent
PrepaidRent
271189
CY2022Q4 gipr Above Market Lease Net
AboveMarketLeaseNet
44615
CY2023Q2 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
75875
CY2022Q2 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
26114
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
101989
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
49955
CY2023Q2 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2022Q2 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2023Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2023Q2 gipr Acquired Lease Intangible Liabilities Amortization Income Remainder Of Fiscal Year
AcquiredLeaseIntangibleLiabilitiesAmortizationIncomeRemainderOfFiscalYear
52594
CY2023Q2 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
4387526
CY2022Q4 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
4677928
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1503470
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1522570
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2884056
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3155358
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
135739
CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
138025
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
271302
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
252017
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
545335
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
530506
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
446443
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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gipr Fixed And In Substance Fixed Lease Income
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CY2023Q2 gipr Weighted Average Redemption Price Discount
WeightedAverageRedemptionPriceDiscount
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us-gaap Minority Interest Description
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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.
us-gaap Other Expenses
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RedeemableNoncontrollingInterestEquityCarryingAmount
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CY2022Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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CY2022Q2 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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CY2022Q2 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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CY2023Q1 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
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CY2023Q1 gipr Temporary Equity Redemption Of Redeemable Noncontrolling Interest
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CY2023Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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CY2023Q1 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
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CY2023Q1 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
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CY2023Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
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CY2023Q2 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
143303
CY2023Q2 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
6343042
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2023Q2 gipr Undesignated Preferred Stock Shares Authorized
UndesignatedPreferredStockSharesAuthorized
10000000
CY2023Q2 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
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1
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CY2020Q4 us-gaap Warrants And Rights Outstanding Term
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CY2021Q3 us-gaap Shares Issued Price Per Share
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CY2022Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
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CY2022Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
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gipr Issuance Of Common Stock Share
IssuanceOfCommonStockShare
17301
CY2023Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
929890
CY2022Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
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CY2019Q2 gipr Warrants Issuance Date
WarrantsIssuanceDate
2019-04-25
CY2020Q4 gipr Warrants Issuance Date
WarrantsIssuanceDate
2020-11-13
CY2023Q2 gipr Warrants Issued And Outstanding
WarrantsIssuedAndOutstanding
929890
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1102900
CY2022Q4 gipr Class Of Warrant Or Right Outstanding Weighted Average Price
ClassOfWarrantOrRightOutstandingWeightedAveragePrice
11.25
CY2022Q4 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
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gipr Class Of Warrant Or Right Outstanding At Exercised
ClassOfWarrantOrRightOutstandingAtExercised
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gipr Class Of Warrant Or Right Weighted Average Price Exercised
ClassOfWarrantOrRightWeightedAveragePriceExercised
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CY2023Q2 us-gaap Class Of Warrant Or Right Outstanding
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CY2023Q2 gipr Class Of Warrant Or Right Outstanding Weighted Average Price
ClassOfWarrantOrRightOutstandingWeightedAveragePrice
11.48
CY2023Q2 us-gaap Warrants And Rights Outstanding Term
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CY2023Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
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929890
CY2023Q2 gipr Class Of Warrant Or Right Weighted Average Exercisable Price
ClassOfWarrantOrRightWeightedAverageExercisablePrice
11.48
gipr Warrants And Rights Outstanding Exercisable Term1
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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
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gipr Class Of Warrant Or Right Outstanding At Exercised
ClassOfWarrantOrRightOutstandingAtExercised
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gipr Class Of Warrant Or Right Weighted Average Price Exercised
ClassOfWarrantOrRightWeightedAveragePriceExercised
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CY2022Q2 us-gaap Class Of Warrant Or Right Outstanding
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CY2022Q2 gipr Class Of Warrant Or Right Outstanding Weighted Average Price
ClassOfWarrantOrRightOutstandingWeightedAveragePrice
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CY2022Q2 us-gaap Warrants And Rights Outstanding Term
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CY2022Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
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1541470
CY2022Q2 gipr Class Of Warrant Or Right Weighted Average Exercisable Price
ClassOfWarrantOrRightWeightedAverageExercisablePrice
10.89
gipr Warrants And Rights Outstanding Exercisable Term1
WarrantsAndRightsOutstandingExercisableTerm1
P4Y2M12D
CY2023Q2 gipr Class Warrants And Rights Outstanding Intrinsic Value
ClassWarrantsAndRightsOutstandingIntrinsicValue
0
CY2022Q2 gipr Class Warrants And Rights Outstanding Intrinsic Value
ClassWarrantsAndRightsOutstandingIntrinsicValue
0
CY2023Q2 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
77039
CY2022Q2 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
124118
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
167687
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
218044
CY2022Q2 gipr Number Of Mortage Loan
NumberOfMortageLoan
1
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
905224
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
15736930
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
546280
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
568514
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
591656
CY2023Q2 gipr Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
21032195
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
39380799
CY2023Q2 gipr Due To Other Related Parties Noncurrent Agreement
DueToOtherRelatedPartiesNoncurrentAgreement
2262300
CY2022Q2 gipr Debt Service Coverage Ratio
DebtServiceCoverageRatio
0.015
gipr Stock Issued During Period Shares Warrant Exercised
StockIssuedDuringPeriodSharesWarrantExercised
500
gipr Percentage Of Shares Underlying Warrants That May Be Exercised Based On Trading Price
PercentageOfSharesUnderlyingWarrantsThatMayBeExercisedBasedOnTradingPrice
0.10
gipr Shares Underlying Warrants That May Be Exercised Number Of Trading Days For Calculation Of Trading Price
SharesUnderlyingWarrantsThatMayBeExercisedNumberOfTradingDaysForCalculationOfTradingPrice
10
gipr Common Stock Issued Upon Exercise Of Warrants
CommonStockIssuedUponExerciseOfWarrants
50
gipr Description Of Rights Upon The Company Voluntary Or Involuntary Liquidation
DescriptionOfRightsUponTheCompanyVoluntaryOrInvoluntaryLiquidation
<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 set forth in the Articles Supplementary, the Series A Preferred Stock ranks, with respect to dividend rights and rights upon the Company’s voluntary or involuntary liquidation, dissolution or winding up, senior to all classes or series of the Company’s common stock, par value $</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;">0.01</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;"> per share (the “Common Stock”). Holders of Series A Preferred Stock, when, as and if authorized by the Company’s board of directors and declared by the Company out of funds legally available for the payment of dividends, are entitled to cumulative cash dividends at the rate of </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;">9.5</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;">% per annum of the $</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;">5.00</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;"> liquidation preference per share, equivalent to a fixed annual amount of $</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;">0.475</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;"> per share, which shall increase to a rate of 12.0% of the $5.00 liquidation preference per share per annum, equivalent to a fixed annual amount of $</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;">0.60</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;"> per share, beginning on September 15, 2024. Dividends are payable monthly in arrears on or about the 15th day of each month, beginning on September 15, 2023. </span>

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