Company: GIPRW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0000950170-25-072868
Chunk: 9

Company: GENERATION INCOME PROPERTIES, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 2
Chunk 9
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157,449

         2028
          
         157,007

         2029
          
         104,589

         Thereafter
          
         773,786

         $
         1,494,765

        The amortization for acquired lessee lease intangible liabilities for the three months ended March 31, 2025 and 2024 was $183 and $183, respectively. The future amortization for acquired lessee lease intangible liabilities, net for subsequent years ending December 31 is listed below:  

         As of March 31,

         2025

         2025 (9 months remaining)
         $
         549

         2026
          
         731

         2027
          
         731

         2028
          
         731

         2029
          
         731

         Thereafter
          
         39,496

         $
         42,969

        Note 5 – Leases Lessor AccountingAll of the Company's leases are classified as operating leases. The Company's rental income is comprised of both fixed and variable income. Fixed and in-substance fixed lease income includes stated amounts per the lease contract, which are primarily related to base rent. The Company’s leases also provide for reimbursement from recoverable costs. A portion of our operating cost reimbursement revenue is estimated each period and is recognized as rental income in the period the recoverable costs are incurred and accrued. Income for these amounts is recognized on a straight-line basis. Variable lease income includes the tenants' contractual obligations to reimburse the Company for their portion of recoverable costs incurred. The following table provides a disaggregation of lease income recognized as either fixed or variable lease income three months ended March 31, 2025 and 2024: 

         2025

         2024

         Rental income

         Fixed and in-substance fixed lease income
         $
         2,192,055

         $
         1,949,206

         Variable lease income
          
         197,879

         388,729

         Other related lease income, net:

         Amortization of above- and below-market leases, net
          
         (60,145
         )

         (67,969
         )

         Straight line rent revenue
          
         41,508

         4,764

         Total rental income
         $