Company: SQFTP
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001437749-25-010185
Chunk: 194

Company: Presidio Property Trust, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 13
Chunk 194
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ouped as part of recovery revenue, the CODM looks at NOI as a whole when reviewing the segments.  For the Model Home segment, the properties are leased on a triple net basis and the tenants are responsible for a significant portion of the operating expenses.  Therefore the CODM focuses on Model Home revenue, any impairments and the gain on sale of model homes.
    
   The CODM reviews on a regular basis the GAAP performance of each segment, including the significant segment expenses reported for GAAP shown in the table below. Our significant segment expenses include consolidated expense categories presented in our consolidated statements of operations, as well as rental operating costs.  This information is provided to the CODM and factors into the CODM’s decision making for company-wide strategy. The following tables compare the Company’s segment activity and to its results of GAAP operations and financial position as of and for the years ended  December 31, 2024 and 2023, respectively.  The information for Corporate and Other are presented to reconcile back to the consolidated statement of operations, but is not considered a reportable segment as noted above.

       For the Year Ended December 31, 2024  
                     
   Retail    Office/Industrial    Model Homes    Corporate and Other    Total  
 Revenues:                     
 Rental income  $2,058,622  $12,097,022  $4,368,169  $—  $18,523,813 
 Fees and other income   62,041   241,530   68,084   29,807   401,462 
 Total revenue   2,120,663   12,338,552   4,436,253   29,807   18,925,275 
 Costs and expenses:                     
 Rental operating costs   608,667   6,136,564   171,621   (660,775)  6,256,077 
 General and administrative   —   2,330   820,217   6,704,128   7,526,675 
 Depreciation and amortization   394,461   4,154,769   952,627   13,661   5,515,518 
 Impairment of goodwill and real estate assets   —   1,377,