$GIPR
GENERATION INCOME PROPERTIES, INC.

2024 Q2 Form 10-Q Financial Statement

#000095017024062478 Filed on May 20, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $2.259M $2.433M
YoY Change 70.01% 81.98%
Cost Of Revenue $683.6K $654.7K
YoY Change 113.46% 108.76%
Gross Profit $1.576M $1.779M
YoY Change 56.21% 73.78%
Gross Profit Margin 69.74% 73.09%
Selling, General & Admin $842.9K $731.8K
YoY Change 31.34% 5.23%
% of Gross Profit 53.49% 41.15%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.180M $748.7K
YoY Change 111.51% 77.41%
% of Gross Profit 74.91% 42.09%
Operating Expenses $3.730M $3.634M
YoY Change 87.74% 78.5%
Operating Profit -$1.471M -$1.201M
YoY Change 123.55% 71.83%
Interest Expense -$978.1K -$640.2K
YoY Change 116.53% 40.76%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00
YoY Change -100.0%
Pretax Income -$1.461M -$1.879M
YoY Change 94.24% 57.86%
Income Tax
% Of Pretax Income
Net Earnings -$2.262M -$2.825M
YoY Change 156.59% 114.43%
Net Earnings / Revenue -100.11% -116.11%
Basic Earnings Per Share -$0.42 -$0.67
Diluted Earnings Per Share -$0.42 -$0.67
COMMON SHARES
Basic Shares Outstanding 5.422M 5.420M
Diluted Shares Outstanding 5.434M 4.390M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.553M $1.656M
YoY Change 21.27% -39.51%
Cash & Equivalents $2.553M $1.656M
Short-Term Investments
Other Short-Term Assets $463.7K $569.7K
YoY Change -13.08% 5.01%
Inventory
Prepaid Expenses
Receivables $266.8K $283.9K
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.284M $2.509M
YoY Change 18.8% -26.86%
LONG-TERM ASSETS
Property, Plant & Equipment $6.121M $6.132M
YoY Change -1.12% -1.29%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.178M $6.151M
YoY Change 1644.92% 1708.33%
Total Long-Term Assets $101.2M $102.1M
YoY Change 70.73% 70.94%
TOTAL ASSETS
Total Short-Term Assets $3.284M $2.509M
Total Long-Term Assets $101.2M $102.1M
Total Assets $104.5M $104.6M
YoY Change 68.42% 65.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.234M $1.409M
YoY Change -50.76% -40.83%
Accrued Expenses $7.986M $7.704M
YoY Change 10.12% 7.9%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.479M $9.481M
YoY Change -5.17% -3.85%
LONG-TERM LIABILITIES
Long-Term Debt $61.77M $62.05M
YoY Change 69.43% 69.47%
Other Long-Term Liabilities $1.247M $1.323M
YoY Change 61.98% 71.81%
Total Long-Term Liabilities $63.02M $63.37M
YoY Change 69.28% 69.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.479M $9.481M
Total Long-Term Liabilities $63.02M $63.37M
Total Liabilities $72.50M $72.85M
YoY Change 53.52% 54.21%
SHAREHOLDERS EQUITY
Retained Earnings -$20.02M -$17.75M
YoY Change 84.64% 78.28%
Common Stock $29.09M $29.64M
YoY Change 53.94% 54.99%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.074M $11.89M
YoY Change
Total Liabilities & Shareholders Equity $104.5M $104.6M
YoY Change 68.42% 65.63%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$2.262M -$2.825M
YoY Change 156.59% 114.43%
Depreciation, Depletion And Amortization $1.180M $748.7K
YoY Change 111.51% 77.41%
Cash From Operating Activities $200.6K $25.98K
YoY Change -37.85% -103.05%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 696.8K -1.488M
YoY Change -185.42% 1750.55%
NET CHANGE
Cash From Operating Activities 200.6K 25.98K
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities 696.8K -1.488M
Net Change In Cash 897.4K -1.462M
YoY Change -242.05% 48.94%
FREE CASH FLOW
Cash From Operating Activities $200.6K $25.98K
Capital Expenditures $0.00
Free Cash Flow $25.98K
YoY Change -102.88%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2024Q1 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
64654032
CY2023Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
71621499
CY2024Q1 us-gaap Tenant Improvements
TenantImprovements
2072205
CY2023Q4 us-gaap Tenant Improvements
TenantImprovements
2072205
CY2024Q1 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
9927046
CY2023Q4 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
10571331
CY2024Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
8618181
CY2023Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
8855332
CY2024Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
89271123
CY2024Q1 dei Amendment Flag
AmendmentFlag
false
CY2024Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2024Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001651721
CY2024Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2024Q1 dei Document Type
DocumentType
10-Q
CY2024Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2024Q1 dei Document Period End Date
DocumentPeriodEndDate
2024-03-31
CY2024Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
CY2024Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2024Q1 dei Entity File Number
EntityFileNumber
001-40771
CY2024Q1 dei Entity Registrant Name
EntityRegistrantName
GENERATION INCOME PROPERTIES, INC.
CY2024Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
MD
CY2024Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
47-4427295
CY2024Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
401 E. Jackson Street
CY2024Q1 dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 3300
CY2024Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
Tampa
CY2024Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
FL
CY2024Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
33602
CY2024Q1 dei City Area Code
CityAreaCode
813
CY2024Q1 dei Local Phone Number
LocalPhoneNumber
448-1234
CY2024Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2024Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2024Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2024Q1 dei Entity Small Business
EntitySmallBusiness
true
CY2024Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2024Q1 dei Entity Ex Transition Period
EntityExTransitionPeriod
false
CY2024Q1 dei Entity Shell Company
EntityShellCompany
false
CY2024Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
5422155
CY2024Q1 us-gaap Land
Land
21236021
CY2023Q4 us-gaap Land
Land
21996902
CY2023Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
97406605
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1655820
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3117446
CY2024Q1 us-gaap Restricted Cash
RestrictedCash
34500
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
34500
CY2024Q1 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
366278
CY2023Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
1106191
CY2024Q1 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
473380
CY2023Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
139941
CY2024Q1 gipr Prepaid Guaranty Fees Related Party
PrepaidGuarantyFeesRelatedParty
96360
CY2023Q4 gipr Prepaid Guaranty Fees Related Party
PrepaidGuarantyFeesRelatedParty
0
CY2024Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
283850
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
241166
CY2024Q1 gipr Escrow Deposit And Other Assets
EscrowDepositAndOtherAssets
569803
CY2023Q4 gipr Escrow Deposit And Other Assets
EscrowDepositAndOtherAssets
493393
CY2024Q1 us-gaap Real Estate Held For Development And Sale
RealEstateHeldForDevelopmentAndSale
5750250
CY2023Q4 us-gaap Real Estate Held For Development And Sale
RealEstateHeldForDevelopmentAndSale
0
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
6131688
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
6152174
CY2024Q1 us-gaap Assets
Assets
104633052
CY2023Q4 us-gaap Assets
Assets
108691416
CY2024Q1 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
51901
CY2023Q4 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
406772
CY2024Q1 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
593731
CY2023Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
688146
CY2024Q1 gipr Accrued Expense Related Party
AccruedExpenseRelatedParty
683347
CY2023Q4 gipr Accrued Expense Related Party
AccruedExpenseRelatedParty
683347
CY2024Q1 gipr Acquired Lease Intangible Liabilities Net
AcquiredLeaseIntangibleLiabilitiesNet
982275
CY2023Q4 gipr Acquired Lease Intangible Liabilities Net
AcquiredLeaseIntangibleLiabilitiesNet
1016260
CY2024Q1 gipr Insurance Payable
InsurancePayable
367322
CY2023Q4 gipr Insurance Payable
InsurancePayable
34966
CY2024Q1 us-gaap Deferred Rent Credit
DeferredRentCredit
170317
CY2023Q4 us-gaap Deferred Rent Credit
DeferredRentCredit
260942
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
6427039
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
6415041
CY2024Q1 gipr Due To Other Related Parties Noncurrent Agreement
DueToOtherRelatedPartiesNoncurrentAgreement
1357380
CY2023Q4 gipr Due To Other Related Parties Noncurrent Agreement
DueToOtherRelatedPartiesNoncurrentAgreement
1809840
CY2024Q1 us-gaap Loans Payable
LoansPayable
5500000
CY2023Q4 us-gaap Loans Payable
LoansPayable
5500000
CY2024Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
1278582
CY2023Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
1326362
CY2024Q1 us-gaap Secured Debt
SecuredDebt
56545312
CY2023Q4 us-gaap Secured Debt
SecuredDebt
56817310
CY2024Q1 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
169942
CY2023Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
537424
CY2024Q1 us-gaap Liabilities
Liabilities
72848566
CY2023Q4 us-gaap Liabilities
Liabilities
74170048
CY2024Q1 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
19498296
CY2023Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
18812423
CY2023Q4 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.01
CY2024Q1 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.01
CY2024Q1 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
2400000
CY2023Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
2400000
CY2024Q1 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
0
CY2024Q1 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
0
CY2023Q4 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
2400000
CY2023Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
2400000
CY2023Q4 us-gaap Temporary Equity Liquidation Preference Per Share
TemporaryEquityLiquidationPreferencePerShare
5
CY2024Q1 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
0
CY2023Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
11637616
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2024Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
5419855
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
5419855
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
2620707
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2620707
CY2024Q1 us-gaap Common Stock Value
CommonStockValue
54199
CY2023Q4 us-gaap Common Stock Value
CommonStockValue
26207
CY2024Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
29589564
CY2023Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
18472049
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-17753278
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-14833058
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
11890485
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
3665198
CY2024Q1 us-gaap Minority Interest
MinorityInterest
395705
CY2023Q4 us-gaap Minority Interest
MinorityInterest
406131
CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
12286190
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4071329
CY2024Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
104633052
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
108691416
CY2024Q1 us-gaap Revenues
Revenues
2433173
CY2023Q1 us-gaap Revenues
Revenues
1337039
CY2024Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
449797
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
344147
CY2024Q1 gipr Building Expenses
BuildingExpenses
654667
CY2023Q1 gipr Building Expenses
BuildingExpenses
313600
CY2024Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1226605
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
557550
CY2024Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-1020741
CY2023Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-469210
CY2024Q1 us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
282015
CY2023Q1 us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
351287
CY2024Q1 us-gaap Operating Expenses
OperatingExpenses
3633825
CY2023Q1 us-gaap Operating Expenses
OperatingExpenses
2035794
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-1200652
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-698755
CY2024Q1 us-gaap Other Expenses
OtherExpenses
0
CY2023Q1 us-gaap Other Expenses
OtherExpenses
506000
CY2024Q1 us-gaap Derivative Gain On Derivative
DerivativeGainOnDerivative
380550
CY2023Q1 us-gaap Derivative Gain On Derivative
DerivativeGainOnDerivative
0
CY2024Q1 gipr Income On Investment In Tenancy In Common
IncomeOnInvestmentInTenancyInCommon
0
CY2023Q1 gipr Income On Investment In Tenancy In Common
IncomeOnInvestmentInTenancyInCommon
14402
CY2024Q1 gipr Gain Loss On Held For Sale Asset Valuation
GainLossOnHeldForSaleAssetValuation
-1058994
CY2023Q1 gipr Gain Loss On Held For Sale Asset Valuation
GainLossOnHeldForSaleAssetValuation
0
CY2024Q1 us-gaap Profit Loss
ProfitLoss
-1879096
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-1190353
CY2024Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
946124
CY2023Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
127214
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-2825220
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-1317567
CY2024Q1 gipr Less Preferred Stock Dividends
LessPreferredStockDividends
95000
CY2023Q1 gipr Less Preferred Stock Dividends
LessPreferredStockDividends
0
CY2024Q1 gipr Net Loss Attributable To Common Shareholders
NetLossAttributableToCommonShareholders
-2920220
CY2023Q1 gipr Net Loss Attributable To Common Shareholders
NetLossAttributableToCommonShareholders
-1317567
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4390489
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4390489
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2541477
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2541477
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.67
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.67
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.52
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.52
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
11136773
CY2023Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
90648
CY2023Q1 gipr Distribution On Non Controlling Interest
DistributionOnNonControllingInterest
-2844
CY2023Q1 us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
297479
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4071329
CY2024Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
94935
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
61938
CY2024Q1 gipr Conversion Of Preferred Shares To Common Stock
ConversionOfPreferredSharesToCommonStock
11637616
CY2024Q1 gipr Distribution On Non Controlling Interest
DistributionOnNonControllingInterest
-2844
CY2024Q1 us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
525106
CY2024Q1 us-gaap Profit Loss
ProfitLoss
-1879096
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-1190353
CY2024Q1 us-gaap Depreciation
Depreciation
748654
CY2023Q1 us-gaap Depreciation
Depreciation
398399
CY2024Q1 gipr Amortization Of Acquired Lease Intangible Assets
AmortizationOfAcquiredLeaseIntangibleAssets
80623
CY2023Q1 gipr Amortization Of Acquired Lease Intangible Assets
AmortizationOfAcquiredLeaseIntangibleAssets
23588
CY2024Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
397328
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
135563
CY2024Q1 gipr Amortization Of Above Market Leases
AmortizationOfAboveMarketLeases
-101771
CY2023Q1 gipr Amortization Of Above Market Leases
AmortizationOfAboveMarketLeases
0
CY2024Q1 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
33802
CY2023Q1 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
26114
CY2024Q1 gipr Amortization Of Above Market Ground Lease
AmortizationOfAboveMarketGroundLease
183
CY2023Q1 gipr Amortization Of Above Market Ground Lease
AmortizationOfAboveMarketGroundLease
183
CY2024Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
47780
CY2023Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
28865
CY2024Q1 us-gaap Restricted Stock Expense
RestrictedStockExpense
94935
CY2023Q1 us-gaap Restricted Stock Expense
RestrictedStockExpense
90648
CY2024Q1 gipr Ground Lease Amortization
GroundLeaseAmortization
20486
CY2023Q1 gipr Ground Lease Amortization
GroundLeaseAmortization
21149
CY2024Q1 gipr Equity In Earnings On Investment In Tenancy In Common
EquityInEarningsOnInvestmentInTenancyInCommon
0
CY2023Q1 gipr Equity In Earnings On Investment In Tenancy In Common
EquityInEarningsOnInvestmentInTenancyInCommon
14402
CY2024Q1 gipr Gain Or Loss On Change In Derivatives
GainOrLossOnChangeInDerivatives
-380550
CY2023Q1 gipr Gain Or Loss On Change In Derivatives
GainOrLossOnChangeInDerivatives
0
CY2024Q1 gipr Gain Loss On Held For Sale Asset Valuation
GainLossOnHeldForSaleAssetValuation
-1058994
CY2023Q1 gipr Gain Loss On Held For Sale Asset Valuation
GainLossOnHeldForSaleAssetValuation
0
CY2024Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
42684
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
55155
CY2024Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
63342
CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-23945
CY2024Q1 gipr Increase Decrease In Deferred Rent Asset
IncreaseDecreaseInDeferredRentAsset
-739913
CY2023Q1 gipr Increase Decrease In Deferred Rent Asset
IncreaseDecreaseInDeferredRentAsset
16848
CY2024Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
333439
CY2023Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
409932
CY2024Q1 gipr Increase Decrease In Prepaid Guaranty Fees Related Party
IncreaseDecreaseInPrepaidGuarantyFeesRelatedParty
96360
CY2023Q1 gipr Increase Decrease In Prepaid Guaranty Fees Related Party
IncreaseDecreaseInPrepaidGuarantyFeesRelatedParty
0
CY2024Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-354871
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-53945
CY2024Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1553
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
275096
CY2024Q1 gipr Increase Decrease In Right Of Use Liability
IncreaseDecreaseInRightOfUseLiability
11998
CY2023Q1 gipr Increase Decrease In Right Of Use Liability
IncreaseDecreaseInRightOfUseLiability
14438
CY2024Q1 gipr Increase Decrease In Deferred Rent Liability
IncreaseDecreaseInDeferredRentLiability
-90625
CY2023Q1 gipr Increase Decrease In Deferred Rent Liability
IncreaseDecreaseInDeferredRentLiability
-95723
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
25977
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-850964
CY2024Q1 gipr Escrow Return Deposit For Purchase Of Properties
EscrowReturnDepositForPurchaseOfProperties
-0
CY2023Q1 gipr Escrow Return Deposit For Purchase Of Properties
EscrowReturnDepositForPurchaseOfProperties
50000
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-50000
CY2024Q1 gipr Proceeds From Issuance Of Redeemable Interest
ProceedsFromIssuanceOfRedeemableInterest
0
CY2023Q1 gipr Proceeds From Issuance Of Redeemable Interest
ProceedsFromIssuanceOfRedeemableInterest
3000000
CY2024Q1 us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
0
CY2023Q1 us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
2479299
CY2024Q1 gipr Repayments Of Related Party Other Payables
RepaymentsOfRelatedPartyOtherPayables
452460
CY2023Q1 gipr Repayments Of Related Party Other Payables
RepaymentsOfRelatedPartyOtherPayables
325000
CY2024Q1 gipr Repayments Of Mortgage Loan
RepaymentsOfMortgageLoan
319778
CY2023Q1 gipr Repayments Of Mortgage Loan
RepaymentsOfMortgageLoan
151627
CY2024Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
61938
CY2023Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0
CY2024Q1 us-gaap Proceeds From Annuities And Investment Certificates
ProceedsFromAnnuitiesAndInvestmentCertificates
400889
CY2023Q1 us-gaap Proceeds From Annuities And Investment Certificates
ProceedsFromAnnuitiesAndInvestmentCertificates
352307
CY2024Q1 us-gaap Repayments Of Annuities And Investment Certificates
RepaymentsOfAnnuitiesAndInvestmentCertificates
68533
CY2023Q1 us-gaap Repayments Of Annuities And Investment Certificates
RepaymentsOfAnnuitiesAndInvestmentCertificates
60628
CY2024Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
270677
CY2023Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
118661
CY2024Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
190000
CY2023Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
0
CY2024Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
525106
CY2023Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
297479
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1487603
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-80387
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1461626
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-981351
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3151946
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3752996
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1690320
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2771645
CY2024Q1 us-gaap Interest Paid Net
InterestPaidNet
1247442
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
469191
CY2024Q1 gipr Conversion Of Preferred Shares To Common Stock
ConversionOfPreferredSharesToCommonStock
11637616
CY2023Q1 gipr Conversion Of Preferred Shares To Common Stock
ConversionOfPreferredSharesToCommonStock
0
CY2024Q1 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
46
CY2023Q1 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
106
CY2024Q1 gipr Deferred Distribution On Redeemable Non Controlling Interests
DeferredDistributionOnRedeemableNonControllingInterests
685873
CY2023Q1 gipr Deferred Distribution On Redeemable Non Controlling Interests
DeferredDistributionOnRedeemableNonControllingInterests
16305
CY2024Q1 us-gaap Nature Of Operations
NatureOfOperations
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Note 1 – Nature of Operations</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Generation Income Properties, Inc. (the “Company”) was formed as a Maryland corporation on </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">September 19, 2015</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;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:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company formed Generation Income Properties L.P. (the “Operating Partnership”) in </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">October 2015</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;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="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">March 31, 2024 owned </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">95.3</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;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:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">0.001</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> of the Operating Partnership.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company places each property in a separate entity which may have a Redeemable Non-Controlling interest as a member.</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">As of March 31, 2024</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, the Company, the Operating Partnership, and their controlled subsidiaries on a consolidated basis owned </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">26</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> properties.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Management’s Liquidity Plans and Going Concern</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">On August 27, 2014, FASB issued ASU 2014-05, Disclosure of Uncertainties about an Entity’s ability to Continue as a Going Concern, which requires management to assess a company’s ability to continue as a going concern within one year from financial statement issuance and to provide related footnote disclosures in certain circumstances. In accordance with ASU 2014-05, management’s analysis can only include the potential mitigating impact of management’s plans that have not been fully implemented as of the issuance date if (a) it is probable that management’s plans will be effectively implemented on a timely basis, and (b) it is probable that the plans, when implemented, will alleviate the relevant conditions or events that raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying Consolidated Financial Statements are prepared in accordance with U.S. GAAP applicable to a going concern. This presentation contemplates the realization of assets and the satisfaction of liabilities in the normal course of business and does not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of the uncertainties described below.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">For the three months ended March 31, 2024, the Company generated positive operating cash flows of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">25,977</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> and had cash on hand of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">1.7</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million as of March 31, 2024. Two secured mortgage loans which have a principal balance of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">7.3</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million and $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">4.5</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million as of March 31, 2024 will mature on </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">September 30, 2024</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> and </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">October 23, 2024</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, respectively. Our current and anticipated liquidity is less than the principal balance of these obligations. As a result of our recurring losses, our projected cash needs, and our current liquidity, substantial doubt exists about the Company’s ability to continue as a going concern one year after the date that these financial statements are issued. The Company’s ability to continue as a going concern is contingent upon successful execution of management’s plan to improve the Company’s liquidity and profitability, which includes a plan to refinance these two mortgage loans at maturity. The Company has been engaged in active conversations with the current lender on a refinance. There is no assurance that the Company will be successful in obtaining such refinance on terms acceptable to the Company, if at all, and the Company may not be able to enter into collaborations or other arrangements. The failure of the Company to refinance on acceptable terms would have a material adverse effect on the Company’s business, results of operations and financial condition.</span></p>
CY2024Q1 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2015-09-19
CY2024Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
26
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
25977
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1700000
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;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:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1655820
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3117446
CY2024Q1 us-gaap Restricted Cash
RestrictedCash
34500
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
34500
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1690320
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3151946
CY2024Q1 us-gaap Prepaid Rent
PrepaidRent
189708
CY2023Q4 us-gaap Prepaid Rent
PrepaidRent
280332
CY2024Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
1.06
CY2023Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2024Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2023Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2024Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2024Q1 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
1304309
CY2023Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
1304309
CY2024Q1 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
365734
CY2023Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
331932
CY2024Q1 gipr Acquired Lease Intangible Liabilities Net1
AcquiredLeaseIntangibleLiabilitiesNet1
938575
CY2023Q4 gipr Acquired Lease Intangible Liabilities Net1
AcquiredLeaseIntangibleLiabilitiesNet1
972377
CY2024Q1 gipr Above Market Lease Gross
AboveMarketLeaseGross
45207
CY2023Q4 gipr Above Market Lease Gross
AboveMarketLeaseGross
45207
CY2024Q1 gipr Above Market Lease Accumulated Amortization
AboveMarketLeaseAccumulatedAmortization
1507
CY2023Q4 gipr Above Market Lease Accumulated Amortization
AboveMarketLeaseAccumulatedAmortization
1324
CY2024Q1 gipr Above Market Lease Net
AboveMarketLeaseNet
43700
CY2023Q4 gipr Above Market Lease Net
AboveMarketLeaseNet
43883
CY2024Q1 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
33802
CY2023Q1 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
26114
CY2024Q1 gipr Acquired Lease Intangible Liabilities Amortization Income Remainder Of Fiscal Year
AcquiredLeaseIntangibleLiabilitiesAmortizationIncomeRemainderOfFiscalYear
102364
CY2024Q1 gipr Acquired Lease Intangible Liabilities Amortization Income Next Twelve Months
AcquiredLeaseIntangibleLiabilitiesAmortizationIncomeNextTwelveMonths
135543
CY2024Q1 gipr Acquired Lease Intangible Liabilities Amortization Income Year Two
AcquiredLeaseIntangibleLiabilitiesAmortizationIncomeYearTwo
119262
CY2024Q1 gipr Acquired Lease Intangible Liabilities Amortization Income Year Three
AcquiredLeaseIntangibleLiabilitiesAmortizationIncomeYearThree
110322
CY2024Q1 gipr Acquired Lease Intangible Liabilities Amortization Income Year Four
AcquiredLeaseIntangibleLiabilitiesAmortizationIncomeYearFour
109706
CY2024Q1 gipr Acquired Lease Intangible Liabilities Amortization Income After Year Four
AcquiredLeaseIntangibleLiabilitiesAmortizationIncomeAfterYearFour
361378
CY2024Q1 gipr Acquired Lease Intangible Liabilities Net1
AcquiredLeaseIntangibleLiabilitiesNet1
938575
CY2024Q1 gipr Fixed And In Substance Fixed Lease Income
FixedAndInSubstanceFixedLeaseIncome
1949206
CY2023Q1 gipr Fixed And In Substance Fixed Lease Income
FixedAndInSubstanceFixedLeaseIncome
1203924
CY2024Q1 us-gaap Variable Lease Income
VariableLeaseIncome
388729
CY2023Q1 us-gaap Variable Lease Income
VariableLeaseIncome
79821
CY2024Q1 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-67969
CY2023Q1 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
26114
CY2024Q1 us-gaap Straight Line Rent
StraightLineRent
4764
CY2023Q1 us-gaap Straight Line Rent
StraightLineRent
16848
CY2024Q1 us-gaap Lease Income
LeaseIncome
2274730
CY2023Q1 us-gaap Lease Income
LeaseIncome
1326707
CY2024Q1 gipr Number Of Tenants
NumberOfTenants
4
CY2023Q1 gipr Number Of Tenants
NumberOfTenants
4
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
6219257
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
8164467
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
7877077
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
6264047
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
4815997
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
11204220
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
44545065
CY2024Q1 gipr Executed Lease
ExecutedLease
Company executed a 10-year lease, with two five-year renewal options, with Armed Services YMCA for the use of approximately 35,000 square feet on the property located at 2510 Walmer Avenue, Norfolk, Virginia. Rent commenced on May 1, 2024 under the contracted twelve month tenant improvement period of twelve months at a reduced fixed base rent of approximately $23,000 per month. Base rent increases to a fixed rate of approximately $34,000 per month in month 13 and escalates annually at approximately 2.5%
CY2024Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
35000
CY2024Q1 gipr Reduced Fixed Base Rent Per Month
ReducedFixedBaseRentPerMonth
23000
CY2024Q1 gipr Increases Base Rent Per Month
IncreasesBaseRentPerMonth
34000
CY2024Q1 gipr Escalates Annually
EscalatesAnnually
0.025
CY2024Q1 gipr Weighted Average Redemption Price Discount
WeightedAverageRedemptionPriceDiscount
0.15
CY2024Q1 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.
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
CY2023Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
18812423
CY2024Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
267833
CY2024Q1 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
953706
CY2024Q1 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
19498296
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2024Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
10000000
CY2024Q1 gipr Undesignated Preferred Stock Shares Authorized
UndesignatedPreferredStockSharesAuthorized
2400000
CY2024Q1 us-gaap Payable Preferred Stock Redeemed
PayablePreferredStockRedeemed
2400000
CY2024Q1 gipr Exchange Shares Of Common Stock
ExchangeSharesOfCommonStock
2794597
CY2024Q1 gipr Undesignated Preferred Stock Shares Authorized
UndesignatedPreferredStockSharesAuthorized
2400000
CY2024Q1 gipr Exchange Shares Of Common Stock
ExchangeSharesOfCommonStock
2794597
CY2024Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
61938
CY2021Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
10
CY2023Q1 gipr Class Of Warrants Or Right Exercised
ClassOfWarrantsOrRightExercised
996420
CY2024Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
852690
CY2019Q2 gipr Warrants Issuance Date
WarrantsIssuanceDate
2019-04-25
CY2020Q4 gipr Warrants Issuance Date
WarrantsIssuanceDate
2020-11-13
CY2024Q1 gipr Warrants Issued And Outstanding
WarrantsIssuedAndOutstanding
852690
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
898200
CY2023Q4 gipr Class Of Warrant Or Right Outstanding Weighted Average Price
ClassOfWarrantOrRightOutstandingWeightedAveragePrice
11.53
CY2023Q4 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P2Y8M12D
CY2024Q1 gipr Class Of Warrant Or Right Outstanding At Exercised
ClassOfWarrantOrRightOutstandingAtExercised
45510
CY2024Q1 gipr Class Of Warrant Or Right Weighted Average Price Exercised
ClassOfWarrantOrRightWeightedAveragePriceExercised
10
CY2024Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
852690
CY2024Q1 gipr Class Of Warrant Or Right Outstanding Weighted Average Price
ClassOfWarrantOrRightOutstandingWeightedAveragePrice
11.61
CY2024Q1 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P2Y6M
CY2024Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
852690
CY2024Q1 gipr Class Of Warrant Or Right Weighted Average Exercisable Price
ClassOfWarrantOrRightWeightedAverageExercisablePrice
11.61
CY2024Q1 gipr Warrants And Rights Outstanding Exercisable Term1
WarrantsAndRightsOutstandingExercisableTerm1
P2Y6M
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
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
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
WarrantsAndRightsOutstandingTerm
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
WarrantsAndRightsOutstandingExercisableTerm1
P3Y6M
CY2024Q1 gipr Class Warrants And Rights Outstanding Intrinsic Value
ClassWarrantsAndRightsOutstandingIntrinsicValue
0
CY2022Q1 gipr Class Warrants And Rights Outstanding Intrinsic Value
ClassWarrantsAndRightsOutstandingIntrinsicValue
0
CY2024Q1 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
94935
CY2023Q1 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
90648
CY2024Q1 gipr Number Of Mortage Loan
NumberOfMortageLoan
2
CY2022Q2 gipr Number Of Mortage Loan
NumberOfMortageLoan
1
CY2022Q4 us-gaap Debt Instrument Increase Decrease For Period Net
DebtInstrumentIncreaseDecreaseForPeriodNet
5500000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
13816704
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
926633
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
6476467
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
1033322
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
21341791
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
21086357
CY2024Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
64681274
CY2024Q1 us-gaap Derivative Loss On Derivative
DerivativeLossOnDerivative
380550
CY2024Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
169942
CY2024Q1 us-gaap Derivative Assets
DerivativeAssets
148710
CY2024Q2 gipr Stock Issued During Period Shares Warrant Exercised
StockIssuedDuringPeriodSharesWarrantExercised
2300

Files In Submission

Name View Source Status
0000950170-24-062478-index-headers.html Edgar Link pending
0000950170-24-062478-index.html Edgar Link pending
0000950170-24-062478.txt Edgar Link pending
0000950170-24-062478-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
gipr-20240331.htm Edgar Link pending
gipr-20240331.xsd Edgar Link pending
gipr-ex31_1.htm Edgar Link pending
gipr-ex31_2.htm Edgar Link pending
gipr-ex32_1.htm Edgar Link pending
gipr-ex32_2.htm Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
gipr-20240331_htm.xml Edgar Link completed
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
FilingSummary.xml Edgar Link unprocessable