Company: SQFTP
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001437749-25-016828
Chunk: 70

Company: Presidio Property Trust, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 70
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 1,298,027   865,610   186,195   2,512,542 
                     
 Gain on Sale - Model Homes   —   —   240,899   —   240,899 
 Impairment of Model Homes   —   —   (26,943)  —   (26,943)
                     
 Adjusted NOI  $162,710  $1,298,027  $1,079,566  $186,195  $2,726,498 

       For the Three Months Ended March 31, 2024  
                     
   Retail    Office/Industrial    Model Homes    Corporate and Other    Total  
                     
 Rental revenue  $382,885  $2,364,141  $1,243,831  $—  $3,990,857 
 Recovery revenue   107,930   540,939   —   —   648,869 
 Other operating revenue   62,574   56,440   25,120   6,201   150,335 
 Total revenues   553,389   2,961,520   1,268,951   6,201   4,790,061 
                     
 Rental operating costs   139,954   1,545,563   41,230   (163,170)  1,563,577 
 Net Operating Income (NOI)   413,435   1,415,957   1,227,721   169,371   3,226,484 
                     
 Gain on Sale - Model Home   —   —   2,018,095   —   2,018,095 
 Impairment of Model Homes   —   —   (95,548)  —   (95,548)
                     
 Adjusted NOI  $413,435  $1,415,957  $3,150,268  $169,371  $5,149,031 

       27

   Since a significant portion of the total operating expense for Retail and Office/Industrial are recouped as part of recovery revenue