Company: GIPRW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0000950170-25-046959
Chunk: 155

Company: GENERATION INCOME PROPERTIES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 2
Chunk 155
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The following are characteristics of our properties as of December 31, 2024: 

•Creditworthy Tenants. Approximately 60% of our portfolio’s annualized rent as of December 31, 2024 was derived from tenants that have (or whose parent company has) an investment grade credit rating from a recognized credit rating agency of “BBB-” or better. Our largest tenants are the General Service Administration, Dollar General, and the City of San Antonio, who collectively contributed approximately 39% of our portfolio’s annualized base rent as of December 31, 2024.  

•99% Occupied. Our portfolio is 99% leased and occupied.

•Contractual Rent Growth. Approximately 93% of the leases in our current portfolio (based on annualized base rent as of December 31, 2024) provide for increases in contractual base rent during future years of the current term or during the lease extension periods.  

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•Average Effective Annual Rental per Square Foot. Average effective annual rental per square foot is $15.08. 

Geographic Diversification Table

The following tables show a list of properties grouped by the state where each of our investments are located.

    State
    # of Properties
     
    Square Feet
     
    % of Total Square Feet
     
    2024 Annual Base Rent
     
    % of Total Annual Base Rent

    Illinois
     
    2

    26,235

    5
    %
    $
    600,080

    7
    %

    Ohio
     
    3

    27,078

    5
    %
     
    246,280

    3
    %

    Iowa
     
    1

    30,259

    5
    %
     
    405,471

    5
    %

    District of Columbia
     
    1

    3,000

    <1%

    129,804

    2
    %

    Maine
     
    2

    18,126

    3
    %
     
    205,400

    2
    %

    Pennsylvania
     
    1

    9,100

    2
    %
     
    85,998

    1
    %

    Alabama
     
    1

    59,091